Simulation Review the Initial Planning Essay

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Branding presented a major consideration for the company, and initially it was not at all certain how many brands Iconic, Inc. should offer. Ultimately, the decision to offer two brands was decided upon, and each of these brands was later retooled to another version over the course of the simulation. The disappointing initial sales in the Workhorse segment might have been partially a branding issue, and offering more brands could also have shored up sales in this segment and supplemented them in other segments, potentially, but overall the decision to focus on two brands seems to have served the company well. Two brands provided a certain level of insulation while allowing the company to focus its efforts and resources in a fairly narrow fashion, which definitely boosted profits.

If there were a few extra quarters of the simulation, there are several things I would like to try with the company to determine just how successful Iconic, Inc. could be and how dominant the company could become in the industry. An even more aggressive expansion plan and engaging in more competitive pricing structures, especially with the capital backing and already-present success of the company, could very likely lead to a great deal of increased market share even if profit margins shrank for a few quarters.

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Once competition had been reduced and expansion efforts had created more efficient and effective sales and distribution channels, prices and profit margins could again increase. The volume of sales after such efforts would also increase overall profitability even at lower margins, which would enable the company to become even more competitive in later periods. The idea of having true market dominance is appealing on many levels, and it would be exciting to see if the company could be taken this far with a more aggressive strategy.

There are not many things that should be changed about Iconic, Inc.'s strategy overall. The company did quite well throughout the simulation, and even the initial sales figures and market share of the Workhorse segment while less than what was hoped for represented larger shares than most companies achieved. Ultimately, the decisions made in the development of Iconic, Inc. proved to be highly profitable, and a more aggressive strategy could have been even more so, but this could not have been known before each quarter's results became known......

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"Simulation Review The Initial Planning" (2011, October 14) Retrieved June 5, 2026, from
https://www.aceyourpaper.com/essays/simulation-review-initial-planning-46400

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"Simulation Review The Initial Planning" 14 October 2011. Web.5 June. 2026. <
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"Simulation Review The Initial Planning", 14 October 2011, Accessed.5 June. 2026,
https://www.aceyourpaper.com/essays/simulation-review-initial-planning-46400
   

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