Playing in the Markstrat!
Viktoria Plotnikova, Director of Development Partner Business Consulting, firstname.lastname@example.org
Today, for many managers worldwide "gold standard" of modeling the development and implementation of marketing strategies is a business simulation Markstrat. Currently, it is used in more than 500 schools, including 8 of the top 10 international business schools and in 25 of the top 30 schools in the U.S..
Markstrat - is an effective training tool and the acquisition of practical skills in marketing and strategic planning, marketing leader of simulations at the moment.
Technical capabilities of the business game include the participation of four to six teams of four to five people each. All players perform a role and make decisions in a particular area (distribution finance, sales, marketing, manufacturing, etc.). Participation in the game introduces several teams in the business model of a serious element of chance, complicates the prediction of the situation that makes the game even more credibility.
Markstrat allows you to work out the business skills without monetary costs and the risks specific to the actual conditions. In contrast to traditional teaching methods Markstrat gives players the ability to design and implement their own strategic plans for the solution of problems through the tactical level and receive at the same time practical experience.
World Markstrat arranged approximately as most markets, and knowledge in the field of management and marketing that participants gained from the experience in the real business or as a result of the passage of formal education can be applied in this new unreal world. A key factor for success is teamwork, since the time the decision is limited to 60 minutes.
During the game, participants must:
■ Identify target segments;
■ to position products in highly competitive markets;
■ coordinate its activities with those of departments, the leading market research and production departments (to make a plan of production);
■ prepare the release of new products;
■ improve, continue or stop the production of existing products;
■ marketing decisions on pricing or the definition of the advertising budget for each brand of product;
■ identify the priorities of sales and sales agents;
■ order the necessary market research;
■ make decisions on bringing to market new products, to determine the characteristics of such products;
■ decide on unprofitable product lines.
The main task of the team - to select the optimal marketing strategy in a fast-paced, aggressive environment: the attack by investing in growth or improvement of competitive position, to enter a new market, to defend themselves by investing in the strengthening of the existing situation, to generate cash flow, etc.