Marktstrat Simulation Game / Case Study Course
Name of module: Marktstrat Simulation Game / Case Study Course
Form of the module (i.e. obligatory, elective course): Wahlpflicht
Frequency of module offer: Winter semester 2009/2010
Prerequisites: Registration IBA Office until 31.10.2009 ( email@example.com), IBA Bachelor Students only !
Name of the professor: Prof. Dr. Sandra Loeb
Language of teaching: englisch
ECTS-Credits (based on the workload): 6
Workload and its composition (self-study, contact time):
Kontaktzeit (Vorlesung, Übung, Seminar etc.): 37,5 Std.; Selbststudium: 112,5 Std.
Contact hours (per week in semester): 3
Methods and duration of examination:
No final exam, no final grade but two acceptable Group Presentations as well as regular participation in the course is required in order to pass. Failure to participate in any one of these activities will result in failure to achieve a passing mark (if you don’t participate in either of the presentations, and/or any of the decisions you will not pass).
Emphasis of the grade for the final grade: Eins
Aim of the module (expected learning outcomes and competencies to be acquired):
Markstrat is a strategic simulation game that is designed to teach you Strategic Marketing concepts such as brand portfolio strategy, segmentation, and positioning strategies. Just as a flight simulator allows flight crews to practice in a risk-free setting, Markstrat will allow you to practice strategic marketing skills in a concentrated amount of time before trying them out in a real-business environment.
Contents of the module:
In the experience-based learning approach available through Markstrat, you will learn to go beyond strategy formulation and implement your strategic plans through decisions at the tactical level. In particular, the possibility of assessing the success or failure of a marketing strategy over time is an important benefit offered by Markstrat. Course participants will work in teams on Markstrat and meet in direct competition against other teams. While working on Markstrat, consider yourselves as a Strategic Group created to make strategic decisions on your brand portfolio. As the game is played over 10 periods (years), you need to have a long-term strategic perspective on the decisions. Too much focus on short-term gains may cost you in the long-term. The game will help you formulate, implement, and adapt your strategies in a dynamic, competitive environment. Each team is assigned to a firm that starts off in a certain position in the industry.
Teaching and learning methods:
This marketing elective is designed to provide an in-depth understanding of the job of the typical marketing manager in marketing departments. While the specific duties of a marketing manager vary considerably across industries and companies, the course focuses on the four major activities common to the position: (1) analysis of market information, (2) developing a marketing strategy, (3) programming the strategy, and (4) implementation. The unifying framework for these activities in this course is the annual marketing plan. The course will draw from a variety of areas including marketing strategy, consumer behavior, marketing research and statistics. These objectives will be achieved through a combination of lectures, readings, discussions, and a group market simulation. The key element of this course is Markstrat, the marketing simulation game. The course attempts to simulate the marketing manager’s job through the development and implementation of a marketing plan in the context of Markstrat simulations.
Literature (compulsory reading, recommended literature):
Markstrat Online Student Manual, by Larréché, Gatignon and Triolet, StratX International, ISBN: 0-9743063-0-4 (available at http://www.markstratonline.com).
Registration in Moodle required.