BASICS OF MARKETING SIMULATIONS ? MARKSTRAT SIMULATOR

Stefan-Alexandru Catana and Sorin-George Toma
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Stefan-Alexandru Catana: Faculty of Business and Administration, University of Bucharest
Sorin-George Toma: Faculty of Business and Administration, University of Bucharest

Management Strategies Journal, 2022, vol. 56, issue 2, 224-229

Abstract: Business simulations is a hot topic in higher education, as it aims to connect theory with practice and help students become familiar with the marketing activities carried out in an enterprise. This article aims to define the basic concepts of marketing simulations and to present the case of the Markstrat simulator, one of the most used strategy marketing simulators for students and professionals. The research methodology was based on a quantitative research method and a case study. The paper contributes to the deepening of the theoretical framework to better understand the marketing simulations field, in general, and to understand the Markstrat simulator, particularly. It also shows that in marketing simulations games students run virtual production companies and they will analyze the market, manage the elements of the marketing mix, and invest in research and development to get competitive advantages. The outcome of this paper provides a guidance tool for students, teachers, and professionals carrying on business simulations

Keywords: marketing; marketing simulations; Markstrat; simulator (search for similar items in EconPapers)
JEL-codes: M31 M39 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:brc:journl:v:56:y:2022:i:2:p:224-229

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