Case Study - RMIT University - Marketing Simulation

WHY DID YOU CONSIDER USING BUSINESS SIMULATIONS?

"My teaching is embedded in pedagogical practices around the latest research on experiential learning. The curriculum I offer encourages the students to immerse themselves in an experience that is close to reality, where they can reflect on these experiences to develop new skills, new attitudes and new ways of thinking.

I chose to incorporate an online marketing simulation because it allows teams of marketing students to analyse the changing marketplace, set strategies, take tactical actions based on real world occurrences, and compete against each other. It serves as a bridge between learning and real-life experiences and it helps prepare students to become work ready through this recreated virtual business world and provides them with an applied experience."

What Learning Outcomes did the simulation help achieve?

"The simulation helps me achieve four out of five of my course’s learning objectives:

1. Evaluate and synthesise information of customer needs and expectations from various sources and experiences;
   
2. Compare and contrast the market segmentation and positioning strategy from both theorist and practitioner perspectives to critically appreciate the benefits;
   
3. Use marketing mix tools to analyse marketing situation and position products for maximum competitive advantage in the marketplace;
   
4. Develop multiple management skills including critical thinking, working in a group environment, oral and written presentation skills to be successful in marketing management positions."

    

How Are Students Assessed On The Module?

"Two out of three of my assessments, around 80% on the module, feature the simulation. I don’t assess the ranking of the simulation itself but on the student’s engagement with the simulation, their use of theories, and their reflection of using the simulation and the decisions they made.

One of the assignments is a report on the research, market share, and market information provided by the simulation which are relevant to the industry. Students are also asked to provide a critical discussion of the external situation analysis at multiple levels such as industry, product category, product segment, and sub-segments, and brand. I also ask students to utilise the learnings and resources from the course (e.g. models and theories/concepts), as well as the information in the simulation, to make informed judgements about their product's overall performance.

The other assessment is a group presentation delivered to their peers. Here, group members firstly present their business decisions based on their tactical implementation plan which includes applying the marketing mix, their marketing communication strategy and media channels. Groups asked to consider the ethical, social and cultural issues in the marketing context and demonstrate professional skills through critical thinking in developing a logical and commercially robust marketing implementation plan that will meet the marketing objectives and strategic competitive position.

The second criteria is for members to reflect on the role of managing marketing activities. They need to demonstrate what the team has learned through the process of marketing their jeans brand. Groups are also asked to reflect using feedback-forward thinking; that is, they reflect on alternative strategies that they could implement in the future if they were to encounter performance problems. It’s very important for groups to draw from and reflect on their collaborations and team work."

What Feedback Have You Received From Your Students?

We received very positive feedback from students. Here were some of the percentages recorded from the student evaluation surveys:

Here are also a few examples of the qualitative feedback we received from students:

• "The most valuable aspect of this course was the MMX, which was helpful in teamwork and practical exercise."
• "The simulation mimicked a real-life business. It improved my management skills and taught me so many things a person has to manage in his business."
• "The My Marketing Experience simulation was the BEST learning software I have ever used, and it really helped me to have somewhere to try out in-class theories in a safe space without fear of losing money for a real company. The lectures and classes were well structured, and the MMX and class theories fed into each other seamlessly. The assessment tasks, while very big, definitely held relevance to the real-world application of the teachings in class. The best aspect was definitely Marian though - she was always so happy to help us with any confusion, to give us amazingly detailed feedback, and aid us in our development over the course."
• "Really enjoyed the simulation. It was a very different approach to learning, and I felt it gave everyone the opportunity to really put the theory learnt to the test and measure results, it also provided the opportunity to make mistakes and learn from them."