In this simulation, students learn how to efficiently and effectively allocate marketing resources to increase market share and firm profitability. In each round, students adjust resource allocation in an effort to satisfy customers, improve product performance, drive sales, and ultimately increase firm profitability.
Playing the CEO of Minnesota Micromotors, a manufacturer for motors used in medical devices, students analyze and capture the most profitable market segments. Customers are divided into market segments based on their requirements for price and key performance features. Students allocate sales and marketing resources for each targeted segment, deciding which new customers they want to acquire and which loyal customers they need to retain. Ultimately, students work to find levels of spending on market research and marketing communications that maximize cumulative profit for the company.
- Understand segmentation, targeting, and positioning
- Create and execute an effective marketing strategy based on segment and customer needs analysis
- Investigate the relationships between customer satisfaction, customer buying patterns, customer loyalty, and profitability