MarketShare, our Marketing Principles simulation, places the participants into a dynamic, simulated business environment of the packaged goods industry. Students take the role of the brand management team in an over-the-counter cold medicine group of their firm, learning about different aspects of marketing – from product design and pricing to advertising and selling.
Company: Interpretive Simulations
Approximate price: $30-$50/user
Playtime: 6 * 60-90 minutes
Learning objectives: PLANNING & ANALYSIS: Write a marketing plan, Create simple spreadsheet tools, Understand segments & purchase process, Use market research effectively PRICING: Calculate break-even price, Identify different response to price, Estimate sales impact of price change, Calculate gross margin PLACE: Define a distribution channel, Describe flow of goods from manufacturer to consumer, Identify factors for product placement PRODUCT: Define “product” in marketing terms, Explain product life cycle, Understand importance of product development, Improve product in simulation PROMOTION: Define “promotion” in marketing, Explain impact of different kinds of promotions, Describe push/pull promotion strategies, Select promotion mix for target market TEAMWORK: Allocate responsibilities fairly, Complete assigned tasks on time, Communicate problems and plans, Collaborate with other team members
Link to simulation home page: https://www.interpretive.com/business-simulations/marketshare/