Capsim Simulation: Strategic Business Development and Market Insights
VerifiedAdded on 2023/04/08
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Report
AI Summary
This report details a student's experience with a Capsim simulation, focusing on a lunch delivery application called "No Click." The application aims to solve problems like collecting money in colleges and reducing wait times for meal selection. The student reflects on key learnings from the simulation, including the importance of market share, market segmentation, investment strategies, automation, and employee training. Market share is defined as the space in a market taken over by a company, and the report emphasizes how a good market share can be used to measure revenue-generating efforts. Market segmentation, involving dividing potential customers into groups based on similarities, is also discussed, highlighting its benefits in personalizing marketing campaigns. The report further explains the significance of investing in areas like machinery, marketing, and research and development, as well as the impact of automation on productivity and the critical role of employee training in organizational growth. The student concludes that these elements are vital for the positive development of a business.
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