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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 .
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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.
Because business simulations simulate real-world systems, they are often used in management, marketing, economics and hospitality education. [11] [12] Some benefits of business simulations are that they permit students to experience and test themselves in situations before encountering them in real life, [13] they permit students to experiment and test hypotheses, [13] [14] and that subjects ...
In a virtual test market, new products or marketing and distribution strategies can be tested without the risk and time constraints discussed above. Another advantage is the ability to test many different products in one Virtual Test Market as the computer simulation can always be reset to the original situation before the introduction of a new ...
It reflects a role-play simulation where several participants play with each other. The game represents a supply chain with a non-coordinated process where problems arise due to lack of information sharing. [1] This game outlines the importance of information sharing, supply chain management and collaboration throughout a supply chain process ...
Smartcat's AI can translate both written and spoken words into more than 280 languages, making it easier to deploy corporate content, such as marketing materials and internal training videos, to ...