Sunday, November 1, 2015

As I was explaining, there are three main things that need to be taken into consideration when choosing what market you will want to enter. Optimally, you will want to enter the market that you think the least amount of teams will enter, a market that you have cost advantages in, and you will want to set a price that will get you the largest market share.

Taking these three things into consideration, my team and I have chosen the market that we will enter, but have yet to decide on an exact price that we want to charge. We have good costs for this market, and generally this market isn't one that has a huge profit margin, so hopefully other teams won't be as likely to enter it. It's a really fun game that makes you think a lot, while applying concepts we have learned from different classes, and I look forward to seeing how it plays out over the next month.

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