External Environment, Internal Profile And Swot - Simulation Project

External Environment, Internal Profile and SWOT - Simulation Project Name MGT 599 Tutors Name Date Introduction This simulation exercise evaluates pricing decisions over the product lifecycle of three products over four years. The variables in the exercise are prices and expenditure in RD. The variables influence customer decisions based on elasticity of demand, price sensitivity and value perception. The decision-making environment has other comparable competing products. The objective in this simulation is to make careful analysis of both the decisions and their results to maximise the profit score. Review of Past Four Years Product X5 has been in the market for three years and customers are indifferent to performance. This means the product is mature in the market and customers have evaluated and accepted its value. The customers for product X6 and X7 care about value. The reason for this might be that product X6 is in the growth stage and product X7 is at the introduction stage. In these two stages, customers are price sensitive as they are bound to compare prices to gather information for decision-making. Product X6 has been on the market for two years and its customers are not price sensitive. Customers for product X7, which