Simulation should include the elements of market research, production, material sourcing, prototyping, pricing, and marketing to carry a product from concept to market.
Process/Skill Questions:
- How important is a well-developed theme?
- What is the difference between product line and product mix?
- When should a prototype be created and a simulation run through market simulation?
- How do mood/inspiration boards aid in creating a product line?
- How does globalization affect the creation of a product line?
- What risks are associated with securing vendors outside the United States? What are some advantages?
Teacher Resource:
DECA Event: Buying and Merchandising Operations Research