Markstrat
From Wikipedia, the free encyclopedia
Markstrat is an online learning software for strategic marketing, authored by Hubert Gatignon and Jean-Claude Larréché of INSEAD and distributed by StratX. It is used to teach students the concepts of strategic marketing in a simulated online world known as the Markstrat World. Markstrat allows students and executives to practice their skills in a concentrated amount of time before trying them out in a real business environment.
It is a common tool to aid teaching courses in strategy in business schools around the world.
[edit] Key features
Markstrat world is an imaginary world of 250 million inhabitants whose currency is the Markstrat dollar. The world has 5 competing firms each with its own range of products. The products fall into two distinct categories of consumer durables - Sonites and Vodites.
Each company is required to make decisions regarding the current and future periods. A company decision can range from introducing new products, performing R&D, stepping up production, initiating market research, setting prices and sales/promotions for its products.
The decisions have an impact on the bottom line of the company which is reflected at the end of the period, after the simulation has run.
