Marketing Management Simulation
PharmaSim is a marketing management simulation based on the over-the-counter cold medicine industry. While it focuses on brand management, the issues raised apply to marketers in any industry. In PharmaSim, your students will learn the importance of understanding customer needs, creating awareness for your products, finding the best distribution model, and deriving an appropriate pricing structure.
Students in my classes learn significantly more, and retain their new knowledge longer, when they have the opportunity to put learning to use. I have found business simulation games to be an excellent way to put knowledge to active use in my online classes, especially as online classes do not allow for face-to-face interaction as a classroom situation does. I use the Marketing Management simulation, PharmaSim, in all of the marketing classes that I teach at two different universities. Although some students are initially intimidated by simulations, ultimately they enjoy the experience, which leads to greater long-term retention and usage of new marketing knowledge.