Hubro Marketing simulation Tips 2024
When we started hubro simulation, it was confusing. However, after reading the guide, we had the confidence to start making decisions for quarter 1. However, making the decisions itself was challenging since we were not sure what worked and what did not. After carefully reviewing the Hubro Business simulation strategy market segments, we settled for organic moms and billenials. Our choice for these two segments was informed by the fact that commuters were a segment that was highly priced and the families’ largest. Therefore, most teams would likely choose those. With many companies in commuters and families, the competition would likely be high and thus profits low. Ignoring families and commuters was one of our main weaknesses since the best-performing company selected families as their basic segment and they did well. One weakness of billenials is that it is a segment of confused customers who are hard to please and also they cannot pay premiums. Therefore, the best way that we would have taken was to select any other market segment besides billenials since it had so many shortcomings. Besides poor segment selection, we took an additional 4 other quarters to introduce our next new product “jerry”. Clearly, the market was already long bored by our flagship product “tom”. Based on the game, introducing new products would help to increase sales and profit However, after introducing the new product, our company struggled and the profit earned dwindled. The company earned the highest revenue of 357120 in Q2Y2. However, just after introducing Jerry in Q3Y2, The revenue dropped to 147420. The main issue here seems to be a promotional problem, the company did not increase the promotion budget greatly after introducing a new product, and that lead to a loss of awareness. It is evident that the company should always identify the best promotion and distribution tactics that resonate well with a given segment to get the best awareness out of it. For Hubro, the best result seems to favor those that understand clearly what the market needs and deliver exactly that. Delivering the products is not enough by itself but also ensuring that customers are aware of the product, they have a variety and these varieties are well positioned. If we had made sure that we meet all these requirements, no doubt, our income would not have dropped but rather we would have ended up with many profitable sales.how to win hubro business simulationBesides the decision-making problem, we had other issues. For instance, we mostly met online. There were always issues with meeting scheduling since every person had different needs and they assigned their daily hours differently. Despite that, we always agreed on meeting times, and most of each member showed up when required. We also agreed to make decisions on consensus. It was tiring especially since we had to agree on each decision entry. However, this made us learn so much about the game. It also assisted helped the group avoid self-doubt and blame games. Although we did not get the first position, we learned so much and thus in the future, if we are put in the same situation, we would most likely review all material provided to come up with better decisions. One thing we did not agree on is about purchasing market research marketer services because we felt like it was quite expensive. However, over the game, we have realized that this research is very important since it assists to show where we should be spending our money when it comes to promotion and distribution. With accurate promotion and distribution targeting, we would mostly get the best values for our money in terms of awareness and marketing mix.