The video above will show you how you can launch a new product in the MikesBikes Advanced Strategic Management Simulation.
The written script for the video is below:
“In MikesBikes Advanced, you can choose to undertake Product Development to enable you to launch new products and modify existing products. In this short video, I will demonstrate the process of launching a new product. For detailed instructions on how to do this, please watch the MikesBikes Advanced Video 5 – Design & Development, both of which are available under the Manuals and Videos of the Smartsims website once you log in.
To launch a new product, you first need to navigate to the Design and Development Menu and click on the New button. This will allow you to create a new project.
On the decision screen, we will decide to create a project to enter into the Leisure segment.
Name the Project first.
We can now select Style and Tech Specs. We can see the consumer preference for the Leisure segment is at around 51 Style and 10 Technical, so we will enter these figures. When you tab out of the decisions, you will notice that the Prime Cost has auto-updated to $55, being calculated by the simulation itself, so leave it as it is.
We can also see that the recommended expenditure for next period is $1m, so leave that as is, and Apply your decision.
Now remember, a project only becomes available to launch as a product after one period in the simulation. In Single-Player, you can process the rollover yourself, while in the Multi-Player, you will need to wait for the rollover to be processed.
After the rollover, navigate to the Products Screen, and then click on the Launch button. The project that was created before the rollover has now become under the Select Project menu. So we will first enter a product name, then click on the New Leisure project, and then Apply. This completes the process of successfully launching a new product. You should also watch the MikesBikes Advanced Video 5 – Design & Development if you have not already done so.
If you have any further questions, please feel free to email us.