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SMART

SMART was sponsored by Ashridge Management College following their experience using Global Operations on their premium market strategy programme. The simulation is based on the strategic development of a service business (a Hotel). DECISIONS: !"#T$s decisions cover%

market targeting pricing & promotion product offering & mix capacity p anning funding marketing re!earc"

D#RATION: One and a half days $E% &EARNIN'


MAR$ET SE'MENTATION

The hotel serves three ma&or market sectors ' business users( holiday makers and local residents. )ach are segmented further ' business users into large * small conferences and business travelers ' holiday makers into holiday tours( short breaks and individuals ' local residents into weddings+parties and diners. ,ased on potential( resources( financial conse-uences( product offering and competitors( teams must decide which segment(s) they should serve.
(ROD#CT O))ERIN' & C#STOMER NEEDS

" feature of the simulation is the way in which teams can change their offering. o( for instance( among other things( they can add a fitness centre( or a s-uash court. )ach of these address different customer needs and( provide competitive advantage. However( since they are not( direct( revenue earners( teams must assess whether the extra demand will pay for the costs and capital investment incurred by the offering. o( teams must research customer needs and competitor offering to ensure the new facilities meet the needs of the markets served and generate ade-uate profits.

(RICIN' AND (ROMOTION Teams must decide price on a market sector basis to ensure demand and profitability. To make the right clients aware of the hotel and get them to use it( teams must decide the right mix of promotion. .romotion that ranges from several forms of press advertising( through several types of exhibitions to direct selling and market brochures.
)INANCIA& (ER)ORMANCE

,esides a full .rofit * /oss "ccount( ,alance heet and( optionally( 0ash 1low tatement( each market sector is treated as an investment centre on an activity based costing basis. o( for each sector the demand( sales income( profit contribution and debtors are reported. The sector reports allow teams to assess profitability( growth and cash use or generation on a market segment basis.
)ORECASTIN' & CONTRO&

The markets make use of four core resources ' bedroom accommodation( ball room( dining rooms and bars. )ach market sector makes different use of these resources and( since( to maximise profits they all must be fully utilised( teams must forecast re-uirements. (2nder utilisation will cause unrecovered fixed overheads and under capacity will cause lost sales.)
*#SINESS RESEARC+

To enable the right decisions to be made( teams have the opportunity to research markets and the business. ,esides standard research covering guests( attitude towards price( customer awareness and product needs( the simulator supports a wide range of ad-hoc research. (" special tutor's audit provides the trainer with the information needed to provide this research.)
TEAM ,OR$IN'

3ith participants working in small teams( they have the opportunity to share experience and knowledge( present and promote different viewpoints and develop their people skills.
-*#SINESS (RESENTATION.

Optionally( at the end of the simulation( teams can make a formal board presentation covering ob&ectives( strategies( process( the future (of the simulated business) and learning.

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