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| MARKSTRAT Online |
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A marketing strategy simulation
Areas: Marketing Strategy
Authors: Jean-Claude Larréché, Alfred H. Heineken Professor of Marketing Hubert Gatignon, The Claude Janssen Chaired Professor of Business Administration Professor of Marketing, Dean of the PhD Program, Research Director of the INSEAD-Wharton Alliance, and Director of the Alliance Center for Global Research and Development |
| Distribution Contact: |
North and South America
Lucy Jacobus
StratX
222 Third Street
Cambridge , MA 02142 , USA
Tel: (617) 494 8282
Fax: (617) 494 1421
Email: licensing@stratx.com |
Rest of the World
Sabine Fabbricatore
StratX
15, Avenue de l'Opera
75001 Paris France
Tel : 01 53 46 69 00
Fax : 01 53 46 69 01
Email: licensing@stratx.fr |
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| Description |
Markstrat Online is a simulation that has been designed for teaching strategic marketing concepts. Used in combination with more traditional training methods such as lectures, discussions or case studies, Markstrat Online is a very effective tool for learning strategic concepts such as brand portfolio strategy, segmentation and positioning strategies.
Experience-based training has proven to be the most efficient training methodology. Users must go beyond strategy formulation and implement their strategic plan through decisions at the tactical level, a challenge not provided by traditional pedagogical methods. In particular, the possibility of assessing the success or failure of marketing implementation over time is an important benefit offered by Markstrat Online.
Main characteristics of Markstrat Online:
- Strategic Perspective. Markstrat Online has been designed for teaching strategic marketing concepts. Tactical decisions cannot be effective without first defining explicit portfolio, market segmentation and product strategies. Marketing mix decisions are secondary to strategic decisions.
- Long-term Perspective . Planning is essential in Markstrat Online. Teams have long-term objectives and they must develop and implement strategies over a significant number of simulated years, usually from six to twelve.
- Extensive Treatment of Competition. Teams are in direct competition in the simulated world. Detailed market and competitive data are available, and analytical tools are provided to turn market research data into actionable information.
- Solid Theoretical Foundations. The Markstrat Online model incorporates the latest theories of market and competitive behavior. The model was extensively tested by academics, students, and executives from many industries.
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| Pedagogical Objectives |
| Users will learn strategic marketing concepts such as the relationship between market share and profitability, resource allocation, market segmentation, product positioning etc. |
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