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Reflecting on your learning in the MBA program, section 4.2 of the CapSim Team Member Guide, and Pettus, Chapters 5 and 6, identify and explain the value of a marketing strategy that could lead to market dominance for your product and/or company. What decisions are you considering in Practice Round 1 to maximize your market share? Discuss your approach in terms of the marketing mix variables.
Include in your assessment:
- Your approach to each of the marketing mix variables (product (R&D), price, place, and promotion)
- Approach to growth in terms of market penetration, development and product development as discussed by Pettus in Chapter 6.
- How your strategy can be achieved through CapSim decisions