key concepts around strategic planning, operating in a global marketplace, and designing products specific to a market segment, apply these concepts as you organize your business in the simulation.
In this virtual business world, your company will introduce a new line of carbon fiber bicycles into your selected markets in New York, Amsterdam, Rio de Janeiro, or Bangalore. Each city represents a different opportunity with a different mix of potential customers between the recreation, mountain, and speed bike segments.
In this simulation, you will complete the following activities:
- Name the company – Bike’s R Us
- Sell 1,500,000 in stock
- Analyze the market survey.
- Establish corporate goals and overall business strategy.
- Choose your primary and secondary target segments.
- Design at least one brand for each selected target segment.
- Schedule the opening of the first bike shop – Open in the spring
- Set up a production facility – New york
To get started, in the simulation to name your company, review marketing research to understand the market potential, and develop your organizational goals and strategy. In human resources, you will review compensation packages. For marketing, in this quarter you will develop your initial brands and design bicycle features to deliver benefits to your market segment.
Based on your strategy and the brands you have designed, you will need to determine your sales channel strategy for the initial quarters. Since your sales channel to your customers will be through company-operated bicycle shops, you will need to choose a city and plan the opening of your first shop. Each city has different costs as well as different potential, so keep in mind your business strategy as you make this decision.
For manufacturing, you are operating a just-in-time manufacturing facility using 3-D printers. You will need to evaluate how much fixed capacity (or number of 3-D printers) you will need in the next quarter when you open your first store. As you make this decision and others about expenditures, review accounting and finance to make sure the decisions you make are consistent with the reality of your firm’s financial situation and your cash flow.