Marketplace Simulations: Introduction To Marketing – Bikes (Play Against Classmates)

This simulation is a hands-on introduction to the essential elements of marketing. It is ideal for novices in marketing, including non-majors and high school seniors. Students start a new marketing division to sell 3D-printed, carbon fiber bikes for a large, international bike company. Starting with customer needs and wants, price points, and market potential, the students formulate a marketing strategy and then make brand, price, advertising, and distribution decisions. They have a budget to work with, as well as any profits they earn. Customer feedback, competitor data, and profitability reports challenge the students to adjust their strategy in a dynamic and competitive environment. Competition creates rivalries that fuel excitement and the drive to win. Students will learn to apply marketing concepts, principles, and ways of thinking through adaptive learning. A balanced scorecard (BS) is used for student feedback, management by the numbers, and grading. Grading is automated--students are rank-ordered according to the BS and assigned grades. Optional lectures can tie student experiences and course content together. Little effort is required to aid students with Marketplace Simulations. The student work is self-guided with an intuitive interface, built-in instructions, help files, warnings, and supplementary Marketplace Microsimulations™. Students have access to an AI Coach in the simulation to assist them with queries about their decisions as well as game mechanics, learning concepts, and how to interpret their results.

Six decision rounds, each lasting 30-60 minutes. Students compete against their classmates, either playing individually or in teams of two or three. Work is typically completed asynchronously outside of class, usually with one decision round per week. The simulation is suitable for small to large classes.

Target course: Introduction to Marketing.

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