Marketing Strategy Simulations
Marketing Management (MM) is necessary for value creation, communication, and delivery to customers and driving business growth. It encompasses important functions like market research, analysis of consumer behavior, branding, pricing, online marketing, sales management, and customer relationship management. To build practical marketing competencies, students need to be involved in actual marketing decision-making outside the lecture room.
This carefully chosen collection of Marketing micro simulations aims to engage learners in marketing strategy formulation, implementation, and analysis. The micro simulations will entail strategic marketing decisions like brand positioning strategies, tactical marketing decisions like pricing models, and operational marketing functions like demand generation campaigns. These simulation games promote teamwork and creativity in overcoming marketing problems
Marketing Micro-Simulations Overview
Marketing Fundamentals
- Basic marketing mix (4Ps)
- Understanding competitive landscapes
- Choosing a new market or starting new starup
Consumer Behavior
- Consumer decision-making process and buying behavior
- Psychological, social, and cultural influences on consumer behavior
- Market segmentation, targeting, and positioning (STP)
Product & Brand Management
- Product life cycle (PLC) and new product development
- Brand equity, brand loyalty, and brand architecture
- Packaging, labeling, and brand communication
Pricing Strategies & Revenue Optimization
- Pricing models: Cost-based, value-based, and competition-based
- Dynamic pricing and psychological pricing
- Pricing for new products: Skimming vs. penetration
Distribution & Retail Management
- Direct and indirect distribution channels
- Retail and e-commerce strategies: Omni channel
- Inventory and supply chain optimization for marketing success
Sales & Customer Relationship
- Sales forecasting and strategy development
- Negotiation techniques in B2B sales
- Customer engagement, loyalty programs, and CRM systems
Integrated Marketing Communications
- Advertising, media planning, and campaign execution
- Sales promotion and public relations strategies
- Event marketing, sponsorships, and experiential marketing
Digital & Social Media Marketing
- Search engine marketing (SEO & SEM) and content marketing
- Influencer marketing and viral marketing tactics
- AI, big data, and automation in digital marketing
Marketing Analytics & Data-Driven Decision Making
- Customer lifetime value (CLV) analysis
- A/B testing for ads, websites, and product launches
- Measuring ROI of marketing campaigns and optimizing performance
Tactical Market Positioning & Strategy Execution
- Competitive positioning and response strategies
- Market entry strategies: Domestic vs. international expansion
Sustainable & Ethical Marketing
- Green marketing, sustainability initiatives, and CSR integration