The review of the simulation
The whole simulation have already been finished by now. By the end of quarter 7 our team has become the most successful team of the group one. The total performance is nearly three times compared to the team that ranked number 2 and also the average. And we also own the most of the wealth. Although we all want to win but we never expected we can achieve such high score. But considering all the efforts we made then everything is reasonable.
At first we don’t know how the system works. At the very beginning we don’t have so much money to ask many questions from our teacher, so we can only read the introduction word by word to figure out how it works. From the data we can see that we made a lot of mistakes and we are just average at the beginning. But as the time goes we gradually clear about what to do. And our strategy is to using a conservative method and avoid risks because we realized that there won’t be big differences on the product between different groups because the limitation. So setting a proper price is quite important. Although we know there might be possibility that if we raise the price they will still buy our computer, but we took it seriously and very cautious at raising the price. To reach the best price we did a lot of experiment. For example we often raise the price a little and see how the data changes after this quarter, and sometimes we reduce the discount to replace the raising of the price.
Another thing is that we had a very good team work. Every period we will do our own part and then work together to discuss the whole strategy. When working on individual part we often discuss with each other if the parts are related. So that make our work effective and efficient.
The most useful thing the system provide us is the data from other groups. By analyzing the data from other group we can easily avoid some fatal mistakes. At the beginning of each quarter we will check which team was doing good last quarter and what did they change compared to former quarters. If one product is quite successful we will check the difference between their product and sales strategy and ours, then we will make some changes from the conclusion.
By doing the simulation we all have a better understanding of how the market works. If it is a startup then we should be prepared to every possible changes in the market. Sometimes we thought we did the right thing but didn’t receive positive result, and sometimes we thought we could have done more but it turns out to be quite successful. It can only be more complex and risky when running a start-up by ourselves so the simulation really helped us to experience the feeling and help us realize how cruel the real market is.