In the food truck challenge, you are trying to run a successful food business in the city of Boomtown and win the ‘Food truck Challenge’. You play 5 rounds total. In each round, you make decisions about where to park (location) and what menu item to offer in hopes of finding the best menu-location combination and yielding the highest sales. Based on initial market data, you have to decide whether to a) go to scale right away with the food truck b) conduct further research and analysis, or c) experiment with a low-capacity pushcart. Answer the following questions based on your experience with the challenge. Limit your responses to 3 double spaced pages.
Q1. In your initial choices with the ‘Food truck challenge’, did you a) go to scale right away with the food truck b) conduct further research and analysis, or c) experiment with a low-capacity pushcart? Explain the reasoning behind your choice.
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Q2. How did you assess market feedback? Did you modify your choices as the simulation went on?
Q3. Which strategy dominated the winning strategy in our class for the ‘Food truck challenge’, based on the final leaderboard you observed? Why do you think this was the case?
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Q4. If you could do over the simulation for an established market (instead of a dynamic and changing Boomtown), what (if anything) would you do differently?
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Q5. Identify and explain two key lessons you gleaned from this exercise
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