Marketing Principles Simulation
MarketShare is an intermediate level marketing principles simulation where students learn to create, communicate and deliver value to customers.
MarketShare is based on our leading marketing management simulation PharmaSim, but simplified for use in a marketing principles or intermediate marketing level class for undergraduates. Students become a member of the marketing management team for a pharmaceutical company. They are exposed to and must wrestle with concepts such as understanding market segmentation, multiple channels, intermediaries, and promotional content. They will also reformulate an existing product, as well as launch a new product.
Students take the role of a brand management team in the over-the-counter pharmaceutical industry for up to 6 simulated years. Students can work in teams of 2 to 4 students or individually. 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. Out of five competitors in the market, their company is at the bottom in terms of sales. But management believes their brand should drive future growth and profitability for the company--so the pressure is on! The task of the Allround brand management team is to increase market share and profitability in a competitive and changing environment.
To read the full copy of the case for the simulation, request a Faculty ID here!
MarketShare also comes with 6 "incidents" (mini-cases) that challenge students to wrestle with various behavioral elements of their business. These are:
- Social Media (Advertising) Students choose to create a website with a blog, a Facebook and Twitter account, or any one of these options with 5% of the ad budget going towards Google Adwords.
- Targeted Advertising (Advertising, Segmentation) Provides the students the option to target their consumers based on demographic data.
- Employee Over-Sharing (Ethics) Dealing with a personnel issue of an employee's personal blog that talks about your company in a less-than-flattering manner.
- Volume Discount (Pricing) An opportunity to discuss offering high-volume discounts (or not) and what effects it might have.
- Product Tampering (Product, Public Relations) A bottle of Allround is suspected to have been linked to some poisonings in a metropolitan area. This is a PR issue but also involves issues of operations and how that will affect the company.
- Sales Force Management (Sales force) One of Allround's salespeople wants to redefine her sales territory so that the workload is more even. The salesperson with the adjoining territory (who is doing better than she is) does not agree. Students must decide how to manage this situation.
The main objective of MarketShare is to have all of the characteristics of a case analysis, while also placing the participant into a dynamic, simulated business environment. It also sticks with issues pertaining to the 4Ps framework.
MarketShare is designed to help your students understand:
- Marketing Research: the different types of research and what type is best
- Consumer Behavior: the decision-making process and influences
- Competitor Analysis: differentiating brands, using research to accomplish this
- Features, Benefits, & Value Proposition: the differences between these and how to highlight each to sell more product
- Break-Even Analysis: connecting the marketing process to accounting information
- Gross Margin Analysis: focus on the intersection of pricing and distribution concepts
- Retail Store Visits: getting a full picture of what buyers see when making a decision
- Advertising Storyboard: identifying key elements such as the target audience, the message, budget objectives, ad design, pre-testing, choosing media, establishing a schedule, and evaluating the ad
With MarketShare, instructors have a comprehensive set of metrics (28 in total) to judge team performance. For full access to all performance measures, request a Faculty ID. In general, team performance can be judged by the following:
- Stock Price
- Unit Sales
- Return on Equity, Return on Assets, Return on Marketing
- Earnings Per Share
- Cumulative Net Income
- Market Share
- Return on Sales
- Capacity Utilization
Any of the 28 measures areas can be weighted and combined by the instructor to form an overall score to evaluate how their teams perform.
If you are an instructor and would like to review MarketShare for your class, please fill out our Faculty ID Request!
At a Glance
Benchmark competition allows you to test and develop your skills against simulated competitors.
- Marketing Principles
- Introduction to Marketing
- 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
What is benchmark competition?
Several of our simulations operate in "benchmark" competition. This means that the students compete directly against computerized competitors. These are responsive models that react to the student's decisions and provide an engaging and exciting experience. Typically we employ benchmark competition for our sims where we want to provide the students with the ability to experiment with marketing mix--since they're playing against the computer, they're able to try different strategies and learn from them.
What's the difference between MarketShare and PharmaSim?
MarketShare fits best in an undergraduate marketing principles classes while PharmaSim fits with upper level marketing or brand management classes (undergrad or MBA). In PharmaSim, student's decisions are deeper and involve more variables than they do in MarketShare. Also, we've developed a number of exercises (assignments) that go with MarketShare that are aimed at introducing students to the basic level concepts of marketing. Finally, PharmaSim has up to 10 periods (simulated years) while MarketShare has 6 periods.