BUS-M 513 Marketing Strategy Simulation
M513 uses an advanced computer simulation to provide MBA students with an opportunity to gain experience with the concepts and tools introduced in M511 and M512. The simulation creates an evolving market, where future decisions must be made in the context of earlier ones. Results depend on competitors' actions as well as your own decisions. The simulation provides an opportunity to increase skills in matching products and market segments, driving productivity and striving for optimum investment of marketing funds. Teams meet with the instructor on two occasions to present and defend their plans, honing their ability to create convincing, data-based recommendations.
- Introduction to the Simulation
- Description of the market
- Practice decisions
- Critique of basic strategies
- Competing in a Maturing Market
- Understanding demand drivers
- Building a model of demand
- Improving productivity
- Line Extensions and Product Improvements
- Maintaining a competitive set of products
- Understanding evolving customer preferences
- Product positioning
- Pricing for improved performance
- New Product Planning
- Identifying unmet needs
- Launching new products in an emerging market
- Product Portfolio Management
- Setting spending priorities
- Brand elimination
- Organizational issues
- Learning how product and market management organizations operate
- The Role of Research
- Using research to guide decision making
- Developing a systematic appreciation for the use of marketing information
Markstrat3 grades will be based on the results of the simulation and the quality of two management presentations (including written documentation).