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iSporty LR Decision Analysis Report


Achievement of the Objectives

According to the expectations that were identified in the marketing plan, it is evident that the organisation was able to achieve most of the objectives. The various objectives can be outlined under following subheadings.

Marketing Objectives

Isporty LR Product Forecast Actual figures after round 5 Extra in units Not sold Comments
1-Sales, k units
Households 520 365.7 154.3 Objective not achieved
High-End Households 92 91.2 0.8 Objective achieved
Companies 132 96.6 35.4
High-End Companies 53 43.2 9.8
Total sales 797 596.7 200.3

The organization achieved its objectives in the high-end household segment since the difference between forecasted sales and actual sales was positive 0.8. However, the company did not achieve its objectives in the low-end segments. In this case the difference between the forecasted and actual sales was negative 154.3. We were also outmatched by the U-Phone, which offered higher level of compactness and extended warranty.

Market Share

Isporty LR Product Forecast Actual figures after round 5 Extra in units Not sold Comments
2- Market share, units, %
Households 14% 11.50% 2.50% A difference of 2.5% between forecasted and actual sales indicates that we almost achieved our targeted market share.

Even though we did not achieve the forecasted market share, our efforts enabled us to increase the market share since the margin between forecasted and actual market share was 2.5%. However, U-Phone had a higher market share compared to the size of our share in the market.

Financial Objectives

The financial objectives of the organisation were also achieved. However, a comparison between the sales level of the organisation and those of the competitors indicates that there are areas that need improvement.

Sales Price per unit = $220
Isporty LR Product Forecast Actual figures after round 5 Diff
1- Dollar Sales K :
Households $114,400 $80,454 $33,946
High-End Households $20,240 $20,064 $176
Companies $29,040 $21,252 $7,788
High-End Companies $11,660 $9,504 $2,156
Total sales in Dollar $175,340 $131,274 $44,066

Our financial objectives in the low-end household segments were not achieved since the difference between the forecasted and actual sales was negative $33,946. However, we were able to achieve our financial objectives in high-end household segment where the difference between forecasted and actual sales was positive $176. The total sales of the organization recorded a negative difference of $44,066.

Plans and Expectations

From the marketing plan, the organisation was able to increase the level of sales in the low-end household and companies segment. The organisation was also able to reduce the variable cost. However, the market share in the low-end segments did not increase as expected. The main cause of the problem was that we charged higher prices compared to the competitors in the low-end household and companies segment where customers are very sensitive to prices.

Moreover, the products of the competitors had superior features compared to our product. For example U-Phone had full features which entailed long battery life and higher compactness. The organisation also made decisions to improve the features of the product.

For example, the level of compactness for U-Phone was 90. Battery life for U-Phone was 75 and 85 while that of ONE “UNIQUENES” was 80. These figures were relatively higher than the battery life for iSporty, which stood at 50. U-Phone also offered the features at a price of $ 211 against our price of $ 220.

Opportunity to Change the Decisions

Given an opportunity to change some of the decisions made in round 5, our company should focus on adding on new features to the product such as improved navigation, long battery life, and compactness. We should focus on our prices to make them affordable to the consumers in the low-end segments.

Customers in the low-end segment purchase their products. The decision made by the competitors to improve the performance of channel led to increased levels of sale. U-Phone recorded a sales level of 236.32 and 333.60 while our product recorded a sales level of 229.25 in the same channel. U-Phone also offered extended warranty of 36 months compared to our warranty of 24 months.

What I Have Learned

Developing a marketing plan is important for an organization to identify its competitors and the factors, which affect the demand of a product in the market. Participating in the marketing simulation plan to access important information and expand my knowledge on marketing. I have also been able to identify the various issues that affect marketing of a product in a market.

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Reference

IvyPanda. (2019, October 2). iSporty LR Decision Analysis. Retrieved from https://ivypanda.com/essays/isporty-lr-decision-analysis/

Work Cited

"iSporty LR Decision Analysis." IvyPanda, 2 Oct. 2019, ivypanda.com/essays/isporty-lr-decision-analysis/.

1. IvyPanda. "iSporty LR Decision Analysis." October 2, 2019. https://ivypanda.com/essays/isporty-lr-decision-analysis/.


Bibliography


IvyPanda. "iSporty LR Decision Analysis." October 2, 2019. https://ivypanda.com/essays/isporty-lr-decision-analysis/.

References

IvyPanda. 2019. "iSporty LR Decision Analysis." October 2, 2019. https://ivypanda.com/essays/isporty-lr-decision-analysis/.

References

IvyPanda. (2019) 'iSporty LR Decision Analysis'. 2 October.

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