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Capsim Simulation Review Final Exam
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- Capsim Simulation Review Final Exam
Capsim Simulation Review Final Exam
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Capsim Simulation Review FinalExam
To invent a new product, which simulation inputs must be provided? - -
Name, Size, Performance, MTBF
-Buyer's Market - -The best time for consumers to buy; characterized by
large supply, small demand, and low prices.
-Seller's Market - -The best time for producers to sell; characterized by large
demand, small supply, and high prices
-Which inputs to the simulation affect the December Customer Survey score
for a product? - -Price, performance, size, MTBF, promo budget, sales
budget, AR Policy
-What one factor affects the December customer Survey score, but is not an
input? - -Age
-How can a person use the Production Report to determine the number of
units produced? - -capacity * plant utilization = production
-What is the main reason for inventing a new product? - -Increase your
market share; takes market share away from your competitors
-Why is it good to invent a new product for the high tech segment? - -The
product age starts off at 0, which is ideal
-Explain "everything you know" about the promo budget - -A promo budget
corresponds to "awareness" and is spent on commercials, coupons, etc.;
must continually be funded or customers will forget about the product
-Awareness - -the % of people who could know about your product that do
know about it
-Explain "everything you know" about the sales budget - -Corresponds with
"accessibility"; spent on wages of sales people, warehouses, trucks,
customer service
-Accessibility - -the % of people who could get the product if they wanted it
-What is the purpose of the perceptual map? - --A perceptual map is used to
illustrate the position of a firm's products or brands in consumers' minds
against the position of competition's products
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