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Marketing simulation games provide participants with an interactive method of testing out marketing decisions in an environment which is virtual or which has game characteristics. Common game topics belong to categories such as: marketing strategy , product positioning , pricing strategies , consumer behaviour .
Markstrat is a multiplayer business market simulation game developed by Jean-Claude Larréché and Professor Hubert Gatignon in which players take control of a virtual corporation. [1] Players make a number of decisions in marketing, finance, research and development, and other areas in order to achieve a better performance than competing ...
Another similar example of a business simulation (that models a startup business) is "SimVenture Classic". Trevor Chan is a notable developer of business simulation games, [9] having developed the 1995 game Capitalism, which has been described as the "best business simulation game". [1] A sequel, entitled Capitalism II, was released in 2001.
In most cases, the terms business (simulation) game and management (simulation) game can be used interchangeably and there is no well-established difference between these two terms. Greenlaw et al. [ 11 ] determine a business game (or business simulation) as a sequential decision-making exercise structure around a model of a business operation ...
Marketing mix modeling (MMM) is an analytical approach that uses historic information to quantify impact of marketing activities on sales. Example information that can be used are syndicated point-of-sale data (aggregated collection of product retail sales activity across a chosen set of parameters, like category of product or geographic market) and companies’ internal data.
Business war gaming, corporate war gaming or business wargaming is an adaptation of the art of simulating moves and counter-moves in a commercial setting. In a complex global and competitive world, formulating a plan without testing it against likely external reactions is the equivalent of walking into a battlefield without the right weapons or a plan to win.
Example choice-based conjoint analysis survey with application to marketing (investigating preferences in ice-cream) Conjoint analysis is a survey-based statistical technique used in market research that helps determine how people value different attributes (feature, function, benefits) that make up an individual product or service.
A stock market simulator is computer software that reproduces behavior and features of a stock market, so that a user may practice trading stocks without financial risk. Paper trading , sometimes also called "virtual stock trading", is a simulated trading process in which would-be investors can practice investing without committing money.
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