Market Share
Markstrat Online – Tips for the Business Simulation Game
This is the unofficial guide on how to play the Markstrat Online game. I helped our team to come from last position to 1st place so it should be able to help anyone. Most people playing this game are probably doing it for a marketing class. Here goes:
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Order of steps to beat the game efficiently: * Check the market forecast to see which customer groups will grow the fast. For us, it was the Singles and the Others. * Check the perception maps to see which 2 product attributes they care about the most. * Check the evolution of their perceptions to see how their desired product attributes shift over time. * Research the perfect product to have the ESTIMATED product values that your consumers will want 3 PERIODS from now. * Put the product on the market and price it EXACTLY where it needs to be. (Being cheaper or more expensive will not help.) * Estimate for the perfect product quantity to produce by watching the market growth forecast as well as your growing (or shrinking) percentage of the market share. * Purchase all the research studies to show the awareness of your campaigns to see if you are over-spending on advertisements or sales staff. Increase advertising and sales staff if need be.
Endgame strategies (Things to do when you only have two or three periods left): * If you plan on coming out with a new product to steal market share from your competitors, try to release it within the last 3 periods of the game. Releasing it too early will give your competitors time to R&D a better product and steal back the market share at the very last minute. * The Sonites will become very cheap to R&D as well as to produce. Use this opportunity to create a perfect Sonite for each consumer market and release it near the end to shake up the marketplace and leave everyone with extra inventory costs. * If you have spare money and can’t predict where the
This is the unofficial guide on how to play the Markstrat Online game. I helped our team to come from last position to 1st place so it should be able to help anyone. Most people playing this game are probably doing it for a marketing class. Here goes:
[ad#singlepost468]
Order of steps to beat the game efficiently: * Check the market forecast to see which customer groups will grow the fast. For us, it was the Singles and the Others. * Check the perception maps to see which 2 product attributes they care about the most. * Check the evolution of their perceptions to see how their desired product attributes shift over time. * Research the perfect product to have the ESTIMATED product values that your consumers will want 3 PERIODS from now. * Put the product on the market and price it EXACTLY where it needs to be. (Being cheaper or more expensive will not help.) * Estimate for the perfect product quantity to produce by watching the market growth forecast as well as your growing (or shrinking) percentage of the market share. * Purchase all the research studies to show the awareness of your campaigns to see if you are over-spending on advertisements or sales staff. Increase advertising and sales staff if need be.
Endgame strategies (Things to do when you only have two or three periods left): * If you plan on coming out with a new product to steal market share from your competitors, try to release it within the last 3 periods of the game. Releasing it too early will give your competitors time to R&D a better product and steal back the market share at the very last minute. * The Sonites will become very cheap to R&D as well as to produce. Use this opportunity to create a perfect Sonite for each consumer market and release it near the end to shake up the marketplace and leave everyone with extra inventory costs. * If you have spare money and can’t predict where the