Simulation Overview
In this synchronous exercise, the participants review a perceptual map of market structure, noting consumer preferences. Next, the learners place new products in the marketplace. Over the course of several rounds, the players may move their products in order to increase their market share and generate the most profit over the course of the exercise. But each product move comes with a cost, so participants must anticipate what competing products will do, then balance the long-term benefits of moving to a more advantageous market segment with the short-term costs of changing their product. Groups of two to six people compete simultaneously in a single market, and a built-in timer means that decisions need to be made quickly. What strategies are best for securing and retaining the greatest market share?
