A Marketing Simulation Based On 'MK Importing'

IntroductionSWOTT AnalysisMarket ResearchMarketing Mix: ProductMarketing Mix: PriceMarketing Mix: PlaceMarketing Mix: PromotionSimulation Results

Introduction

How It All Began: Approximately a year ago, two brothers from Ann Arbor, Michigan (Mike and Kevin Botran) decided to take a four week vacation in Argentina. Mike and Kevin both had several years of experience in the restaurant industry, and had heard many positive things about restaurants in Argentina. They arrived in Buenos Aires, and enjoyed the overall atmosphere, including restaurants, theaters, tango dancing, and sightseeing. Early on, it struck them that there seemed to be numerous very good wines, which by U.S. standards were very inexpensive. After looking into that a bit, they found that the city of Mendoza was the center of the Argentina wine industry, along the lines of Napa Valley in the U.S. They took a trip to Mendoza, and found many vineyards of many sizes, featuring many different types of wines. Their time spent in Mendoza further solidified their belief that there were many good Argentina wines available at very good prices. They began to wonder if there might be an opportunity to establish a small business in the U.S. focused on importing, marketing, and selling Argentina wines. Upon returning to the U.S., they did some preliminary research into a possible business of this type, and eventually decided to move forward with it (to be called 'MK Importing'). However, they knew there would be many business decisions that needed to be made along the way, and realized that sound marketing research and planning would be key to achieving success. They began looking for a marketing professional to hire as their first full-time employee.How You Got Involved: One day, a friend of yours happened to mention to you the business concept Mike and Kevin were considering, including that they were looking for a marketing professional to help start the business. You graduated four years ago with a degree in business administration, specializing in marketing in your studies, and have already achieved a degree of success working in marketing in the hospitality industry. The business concept Mike and Kevin were considering sounded intriguing to you, although you guessed they might be looking for someone with more years of marketing experience. Through your friend, you contacted Mike and Kevin, and the three of you met. You were impressed with the business concept they were considering, and they were impressed with your knowledge of marketing, despite not having worked in that field for very long. Fairly soon after this meeting, you negotiated joining the new business venture, and are excited about the opportunity to help build a business from the ground up. At the same time, you realize you have a lot of challenging work ahead of you. Among other things, you sense there is an excellent opportunity related to importing, marketing, and selling Argentina wine in the U.S., and feel there is an enthusiastic and creative initial team to do this. On the other hand, you recognzie this new business will be small, won't have a lot of capital, and doesn't have personnel with direct experience in many aspect of this business.

Although the situations and information in this simulation are intended to be real-world in nature, any aspect of those might be fictitious. Specifically, companies and people contained in this simulation are generally fictitious.

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