Valuable lessons were learnt about efficient resource allocation with varying levels of budget (often beginning in the red!), as well as the need for accurate forecasting as our companies: Royal, T-rex, Super5, Mapple and LOL, learnt to survive and grow profitably in the Markstrat market. We used our skills in market research, strategic marketing and product policy, to develop and launch new products or to re-launch or withdraw those brands that were struggling and had little profitable future. It was a great opportunity for us to put all we’ve learnt so far at EADA into practice and see the wider company implications of our marketing choices in the long-term. This week, with computers at the ready, the classroom became the battleground for Markstrat, a competitive simulation that mimics the real-life situations of companies fighting it out for increases in market share, profitable growth and rising share prices over the course of eight years.
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June 2023
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