Principles of Marketing Simulation
Principles of Marketing Simulation, NewShoes, covers marketing concepts at a basic level by focusing on the roles of price, product, promotion, and place. Student teams manage the marketing decisions for a simulated athletic shoe company, and compete against one another to become the industry leader in market share and profitability.
NewShoes simulation allowed me to introduce something extraordinarily valuable to the classroom, experiential learning. Students end the course with a real appreciation of a well developed marketing plan, the value of marketing research, the importance of consistency, and real life challenges business executives encounter every day.
One of the most frequent questions in my intro marketing MBA class was “How can we apply material we are learning in real life?” To answer this question I used business cases, discussed real marketing problems that got coverage in mass media, brought guest speakers from local companies… Still I felt that the question was only partially answered for my students who did not have marketing experience. New Shoes simulation helped me to finally introduce experiential learning element in my class. New Shoes simulation is a good reflection of what marketers do in real life and I am very satisfied to use it in my class.
The simulation is terrific in that it provides class members the opportunity to experience the role of a Marketing manager – considering all of the aspects of leading a brand – both internal factors (4Ps) and also the external environment with the ability to purchase marketing research and track the results of competitors. The simulation doesn’t just re-inforce the topics we cover in class; rather by involving students in the decisions, the simulation provides both a rational and emotional connection which will yield in longer term benefits in subsequent classes and their careers.