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Learning strategy
Rather than start in the middle of the story with a mature firm, the
simulator uses a new venture situation to start at the beginning of the
story. The learning strategy is to gradually build the business and gradually
introduce new issues, which must be mastered by the players. Each decision
period has a dominant activity and a set of decisions that must be completed.
These dominant activities take the players through the business life cycle
from start-up, to development, to growth, and ultimately to near maturity.
This approach makes the logic of business practices more intuitive.
In several decision rounds, players evaluate the market opportunity,
choose a business strategy, evaluate the tactical options and make a series
of decisions with profitability in mind.
"I love the way that a simulation can capture students' attention and get them
engaged. That's when they learn the most. So your Strategic Marketing game is doing its
job!
"
Kate Mackie, Instructor, Univ of Texas-Austin
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The consequences of the players’
decisions are quickly revealed in the simulated marketplace. Players learn
to adjust their strategy by studying end user opinions, their own financial
performance, and the competitors' moves.
Each quarter's activities build upon the prior content so that there
is considerable repetition. Business activities such as cash flow planning,
value creation in product design, production scheduling, profitability
analysis, and strategic planning and management require repetitive exercise
in order to set them into the natural thinking of the players.
Here is an example of what Marketplace players do. This list of
activities is different depending on a specific level
of difficulty.
- Analyze market research data;
- Design brands to appeal to different market segments;
- Devise advertising campaigns, sales force incentives, and price option;
- Allocate scarce funds to R&D, manufacturing, quality, advertising,
and distribution;
- Select and prioritize R&D projects, leading to new product features;
- Negotiate strategic partnerships with competitors for new technology;
- Plan and roll out a marketing campaign;
- Schedule production and manage plant capacity;
- Manage cash;
- Negotiate equity and debt financing for new business development;
- Compete head-to-head with other business teams;
- Adjust strategy and tactics in response to financial performance,
competitive tactics, and customer needs.
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