Marketing

 

INDUSTRAT

 

Strategic industrial marketing game

 

INDUSTRAT: Strategic Industrial Marketing game INDUSTRAT is designed to help teach strategic industrial marketing. It allows executives to experience the use and value of strategic market orientation concepts first hand. It mirrors the complexity of the industrial marketing environment, including the dynamics of supplier-customer relationships and the continual evolution of product technologies and applications.

Areas: Marketing Strategy 

Authors: Jean-Claude Larréché and David Weinstein, Professors of Marketing 

Minimum time required:  4 days

Distribution Contact: 
Professor David Weinstein 
INSEAD 
Tel: (33) (0)1 60.72.40.00

Description

INDUSTRAT is a computer-based simulation designed to help teach strategic industrial marketing. It allows executives to experience first-hand the use and value of strategic market orientation concepts. It mirrors the complexity of the industrial marketing environment, including the dynamics of supplier-customer relationships and the continual evolution of product technologies and applications. Participants in the exercise actively employ ideas, analytical approaches and marketing research techniques which have been developed in recent years by the marketing profession. As the nature of the exercise is competitive, it is intense and highly motivating. Unlike other training methods, a simulation such as INDUSTRAT requires participants to bear the consequences of the decisions they have made - a most effective way of learning.

Each participant acts as a member of a management team involved with strategic marketing decisions. Each team competes against four others for a number of iterations, or periods, each representing a year in the history of the industry. Each firm starts the simulation with its own set of strengths and weaknesses. The competitive scenario, while subject to some industry-wide parameters, evolves according to the interactions among the firms.

The INDUSTRAT simulation has been adopted by several Fortune 500 corporations as part of their seminars for senior executives from various functional areas. They have undertaken this investment in the light of intensifying competition, reflecting top management's resolution to become more market-oriented. The simulation is also used as the backbone of strategic industrial marketing courses and executive seminars in leading business schools in Europe and the United States.

PEDAGOGICAL OBJECTIVES

For the individual participant in the INDUSTRAT simulation the pedagogical objectives are:

  • a review of modern strategic marketing concepts, along with the information necessary for their usage 
  • an application of these concepts in an industrial context 
  • to work with issues unique to industrial marketing
  • experience in the management of a market-oriented firm

 

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