Review “MKT-607 – Marketing Management: The Marketplace Simulation”

This is a Collaborative Learning Community (CLC) assignment.

Review “MKT-607 – Marketing Management: The Marketplace Simulation” to prepare for participating in the ILS – Advanced Strategic Marketing Simulation (Live Against Peers)

(referred to as Marketplace Live).

During the first week (Topic 1), the instructor will assign students to a CLC group. You will begin preparation for the simulation that begins in Topic 2 by familiarizing yourself with the Marketplace Livesimulation.

The simulation requires that students develop a strategic focus based upon market research. An analysis of market research will allow students to identify target markets, select geographic sales offices, design brands (personal computers), and develop pricing and advertising. The simulation is designed as a start-up company’s market entry into a new market, in this case personal computers sold on a business-to-business (i.e., not to the consumer) market. There are eight decision periods, effectively quarterly periods over a 2-year time frame. The first year (i.e., the first 4 quarters) is used to assess the market, develop a strategy, and test marketing tactics. The second year (the next 4 quarters) calls for a full market rollout. Teams and individuals are evaluated using a “balanced scorecard” unique to Marketplace Live but consistent with a balanced scorecard approach used in business today.