MarketShare is a marketing principles simulation that focuses on the process of learning how to create, communicate, and deliver value to customers. Students develop a basic understanding of market segments, channels, and buyer behavior in a 4Ps context through the simulation and accompanying hands-on exercises. MarketShare is based on the leading marketing management simulation PharmaSim, but simplified to be applicable for use in undergraduate marketing classes. Co-authored with Harlan Spotts of Western New England College, MarketShare is an excellent complement to traditional teaching methods, allowing students to apply business concepts in a dynamic, integrative environment.
Communicate value through Promotion and advertising.
The Case: Groups of 3-4 students take the role of a brand management team in the over-the-counter pharmaceutical industry for up to 6 simulated years. As a member of their marketing management group, students manage the marketing mix for their products and make product decisions such as reformulating their existing brand and launching a new product. MarketShare is modeled from an OTC brand management perspective, but the issues raised apply to marketers in any industry.
Decisions in MarketShare include:
Pricing: MSRP and volume discounts
Advertising: Budget and message
Promotion: Consumer and trade promotion
Distribution: Sales force personnel and allocation
Product: Reformulation and new product introduction
Purchase of market research: Consumer survey, competitor analysis, channel reports
Student performance can be compared on a number of metrics including market share, net income, stock price, and other standard marketing measures, as well as an instructor-weighted balanced scorecard. All Interpretive simulations include a pre-simulation quiz and peer review.
Covers Marketing
Introductory Level
Benchmark Competition