Marketsim

For students, simulations offer the opportunity to experience much of the realism of making business decisions without ever leaving the classroom. "MarketSim" is a computer simulation based on the over-the-counter cold medicine industry. The exercise focuses primarily on marketing activities and is designed to teach marketing concepts in an active and stimulating environment. As a member of a marketing management team, participants make decisions regarding the product mix, pricing, distribution, advertising and promotion. These decisions are them incorporated into a computer simulated market to reveal how both the firm and its competition performed. Decisions cover a time-span of 10 simulated years, allowing participants to observe both the short term and long term effects of their decisions.