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MS-221 Random Coupons v05

[Market Simulation] MS-221 Random Coupons
Market Simulation (MS-221) - Random CouponsExplores the effectiveness of sending coupons to randomly selectedCustomer Demographic groups. Competitive Story:Spacely Sprockets has about a 50% share of the Sprockets market. He decides tosend coupons to randomly selected potential new Customers. He wishes to testfive different coupon strategies and compare the results to his existing sales: - 100% of existing Cogswell Cogs Customers get a $10 coupon - 40% of new Customers get a $20 coupon (Group A) - 30% of new Customers get a $30 coupon (Group B) - 20% of new Customers get a $40 coupon (Group C) - 10% of new Customers get a $50 coupon (Group D) Define the current state of theMarket comprising of two similarProducts sold by SpacelySprockets and Cogswell Cogs. Identify those Customers whodid not buy Spacely Sprocketsthen allocate them randomly toGroups A / B / C / D. Split each Customer Group andgive each potential newCustomer a Coupon (raisingtheir WTP by the same amount). Spacely gives all currentCogswell Cogs Customers a$10 Coupon to switch over toSpacely Sprockets instead. Predict the outcome of allCoupon strategies and collectthe results. Deduct the cost of eachredeemed Coupon from the totalProfit of each promotion strategy.Spacely SprocketsCogswell CogsWillingnessTo Pay (WTP)of CustomersDemographicGroup A / B / C / DCurrent MarketNo Coupons40% CustomersGet $20 CouponGroup AGet CouponsAfter Group ACouponsGroup BGet Coupons30% CustomersGet $30 CouponAfter Group BCoupons20% CustomersGet $40 CouponGroup CGet CouponsAfter Group CCoupons10% CustomersGet $50 CouponGroup DGet CouponsAfter Group DCouponsSpacely SprocketResultsTop: All OtherBottom: SpacelyAllCustomers100% CogswellGet $10 CouponAfter All CustomersGet CouponsProductArrayNo Coupon Value$10 Coupon Value$20 Coupon Value$30 Coupon Value$40 Coupon Value$50 Coupon ValueReduce ProfitBy Coupon CostTop: SpacelyBottom: CogswellSpacely SprocketsCoupon ProfitCollectAll ResultsCollect ResultsTarget DemographicsReplace MissingQuantity Error Table Creator CustomerDistributions Random LabelAssigner Simulate Market Scale Demographic Row Splitter Simulate Market Row Splitter Scale Demographic Simulate Market Scale Demographic Row Splitter Simulate Market Scale Demographic Row Splitter Simulate Market Row Splitter Row Splitter Concatenate Scale Demographic Simulate Market Column Filter ConstantValue Column ConstantValue Column ConstantValue Column ConstantValue Column ConstantValue Column ConstantValue Column Math Formula Row Splitter GroupBy Bar Chart(JFreeChart) Concatenate Concatenate Missing Value Market Simulation (MS-221) - Random CouponsExplores the effectiveness of sending coupons to randomly selectedCustomer Demographic groups. Competitive Story:Spacely Sprockets has about a 50% share of the Sprockets market. He decides tosend coupons to randomly selected potential new Customers. He wishes to testfive different coupon strategies and compare the results to his existing sales: - 100% of existing Cogswell Cogs Customers get a $10 coupon - 40% of new Customers get a $20 coupon (Group A) - 30% of new Customers get a $30 coupon (Group B) - 20% of new Customers get a $40 coupon (Group C) - 10% of new Customers get a $50 coupon (Group D) Define the current state of theMarket comprising of two similarProducts sold by SpacelySprockets and Cogswell Cogs. Identify those Customers whodid not buy Spacely Sprocketsthen allocate them randomly toGroups A / B / C / D. Split each Customer Group andgive each potential newCustomer a Coupon (raisingtheir WTP by the same amount). Spacely gives all currentCogswell Cogs Customers a$10 Coupon to switch over toSpacely Sprockets instead. Predict the outcome of allCoupon strategies and collectthe results. Deduct the cost of eachredeemed Coupon from the totalProfit of each promotion strategy.Spacely SprocketsCogswell CogsWillingnessTo Pay (WTP)of CustomersDemographicGroup A / B / C / DCurrent MarketNo Coupons40% CustomersGet $20 CouponGroup AGet CouponsAfter Group ACouponsGroup BGet Coupons30% CustomersGet $30 CouponAfter Group BCoupons20% CustomersGet $40 CouponGroup CGet CouponsAfter Group CCoupons10% CustomersGet $50 CouponGroup DGet CouponsAfter Group DCouponsSpacely SprocketResultsTop: All OtherBottom: SpacelyAllCustomers100% CogswellGet $10 CouponAfter All CustomersGet CouponsProductArrayNo Coupon Value$10 Coupon Value$20 Coupon Value$30 Coupon Value$40 Coupon Value$50 Coupon ValueReduce ProfitBy Coupon CostTop: SpacelyBottom: CogswellSpacely SprocketsCoupon ProfitCollectAll ResultsCollect ResultsTarget DemographicsReplace MissingQuantity ErrorTable Creator CustomerDistributions Random LabelAssigner Simulate Market Scale Demographic Row Splitter Simulate Market Row Splitter Scale Demographic Simulate Market Scale Demographic Row Splitter Simulate Market Scale Demographic Row Splitter Simulate Market Row Splitter Row Splitter Concatenate Scale Demographic Simulate Market Column Filter ConstantValue Column ConstantValue Column ConstantValue Column ConstantValue Column ConstantValue Column ConstantValue Column Math Formula Row Splitter GroupBy Bar Chart(JFreeChart) Concatenate Concatenate Missing Value

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Created by: Berlin
Created at: 2018-12-06
On NodePit since: 2021-02-05
Last update: 2024-05-02
Created with KNIME version: v4.3.0

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