Marketing Management Simulation Course Overview at University of Alaska Anchorage
Dive into the Marketing Management Simulation course at the University of Alaska Anchorage, led by Professor Ed Forrest. This course provides a hands-on experience in strategic management through the most widely-used business simulation program globally. Students will assume key management roles, making over 100 interrelated decisions that influence the success of a virtual $100M business. Engage with advanced learning tools, analyze competitive markets, and develop crucial corporate growth strategies, all while competing with teams from around the world!
Marketing Management Simulation Course Overview at University of Alaska Anchorage
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Presentation Transcript
University of Alaska-Anchorage * College of Business & Public Policy * Marketing Management Simulation* Course Intro & Overview
Professor Ed Forrest • Telephone: (cell) 854-8784 • Email: ejforrest@ uaa.alaska.edu • Website: http://www.cbpp.uaa.alaska.edu/afef/
5 Things: • What course is not… • What course is… • What you will learn… • What learning tools you’ll use… • Begin Assessing Your Situation
Learning / Retention 5% 75+%
5 Things: • What course is not… • What course is… • What you will learn… • What learning tools you’ll use… • Begin Assessing Your Situation
THE CAPSTONE SIMULATION Most widely used Business – Simulation Program in the World • Adopted by major Fortune500 companies ..General Motors, General Electric, Honeywell, Dell, John Deere, Citibank, Alcoa, BP, Allstate, Samsung, Goldman Sachs, Microsoft…
You Da’ Boss …run a $100M business ….
YOUR JOB: • Take on every key Mgt. position in your Company • Make 100+ intertwined decisions necessary to create, produce & successfully market your products…
YOU… • Analyze the market, consumer, your company & competitive situation • Discern & implement your corp. growth & competitive strategies • Must make & integrate decisions in & across all functional areas(Marketing, Research & Development, Production, Human Resources & Finance).
Your Product Line: SENSORS:
Concepts & Processes Equally Applicable If Simulation ServiceBased: • Instead of Sensors Sold--Units of Production= • Customers served • Seats sold • Rooms rented • Patients seen • Members joined • Donations raised
Simulation proffers you opportunity to experience every key dimension of strategic thinking developed to date: Strategic Thinkingthe ten big ideas
You will Compete against other members of this class –running 5 other Corp’s …. • Andrews • Baldwin • Chester • Digby • Erie • Ferris
Plus… your decisions & business performancewill be compared against 1000+ other teams competing at other universities… around the world
& How –to date--have we fared in this World-Wide Competition??
2001 Top Ten Teams, World-Wide, for Round 8 • Top Ten Teams, World-Wide, for Round 8 by success measurement There are currently 940 active teams that have played Round 8. For a team to make this list: Cumulative Profits above 0 Overall Market Share (in dollars) greater then 5.0% Asset Turnover less then 8.0 Profit for Round 8 Round 8 - Mean - $ 25,324,003 • Top Ten Active Teams Professor School/Course Simid Team Value • 1 Dr. Minu Afza College of Business - Bloomsburg University93 481 Business Policy & Strategy CAP1742 Digby $ 238,235,245 2 Mr. Bill Gardner Penn State University -Fayette CampusContemporary Business Seminar CAP1513 Andrews $ 193,853,427 3 Dawn DeTienne University of Colorado at BoulderSenior Seminar CAP1656 Andrews $ 184,258,599 4 Prof. Howard Feldman University of PortlandManagerial Decisions and Policy-Undergrad B CAP1787 Erie $ 181,422,390 5Dr. Ed ForrestUniversity of AlaskaMarketing Management CAP1611 Baldwin $ 163,281,864 6 Dr. Eric Wiseman University of Colorado at BoulderBusiness Senior Seminar CAP1818 Chester $ 157,930,382 7 Dr. Murrow Drury CollegeStrategy and Policy Formulation CAP1838 Erie $ 149,235,238 8 Dr. Pettus Millikin UniversityBusiness Policy CAP1748 Baldwin $ 147,967,873 9 Doug Mayer Hartwick CollegeManagement VII-secA CAP1811 Digby $ 137,339,216 10 Dr. Bruce A. Schooling Point Loma Nazarene UniversityStrategic Management CAP1794 Digby $ 121,289 5th
2003 Top Ten Teams, World-Wide @Rnd 8 • For a team to make this list: Cumulative Profits above 0 Overall Market Share (in dollars) greater than 6% Asset Turnover less then 8.0 Your class was ranked: with 711 Capstone ® teams completing round 8 by Apr 12, 2003. teams per game of 6 Category: All • URL: http://www.capsim.com/prof/viewtopten.cfm?round=8&simid=C4806&version=KDate/Time: 04/12/2003 10:07:35eNote: • Text:Cumulative Profit for Round 8 - Mean - $ 125,355,000 Top Ten Active Teams Professor School/Course Simid Team Value 1 natalie marsh Strayer UniversityBusiness Policy & Strategic Planning C4779 Baldwin $ 459,411,986 2 John Hall University of FloridaGlobal Strategic Management I2MBA 2002 C4923 Baldwin $ 386,472,583 3 natalie marsh Strayer UniversitySenior Seminar - Business Administration C4778 Erie $ 382,697,422 4 Peter Stanwick Auburn UniversityStrategic Management C5095 Chester $ 353,185,127 5 John Pearce Villanova UniversityPolicy Administration C5033 Ferris $ 348,535,130 6 Gavin Fox Georgia Southern UniversityBUSINESS SIMULATION C5041 Digby $ 343,761,703 7 Shirley Schooley Birmingham-Southern CollegeStrategic Management Senior Project Course Sec B C5356 Digby $ 341,865,002 8 natalie marsh Strayer UniversitySenior Seminar - Business Administration C4778 Ferris $ 339,568,171 9Edward ForrestUniversity of AlaskaMarketing Management C4806 Chester $ 333,620,19810 Donald Kreps Kutztown Universitymba capstone C4797 Digby $ 327,188,363 9th
Fall 2009 #1 in the world!
Your Industry C58880 was ranked:· with 1089 Capstone teams· completing round 8· by Nov 22, 2013 Fall 2013
5 Things: • What course is not… • What course is… • What you will learn… • What learning tools you’ll use… • Begin Assessing Your Situation
…success contingent on strategic integration of decisions across all domains
your “study” of business … piece-meal and in isolation!
Marketing R&D HR Production Finance
Product Place Target & Position Price Promotion You formulate - Marketing Mix & calibrate relationships between: As MARKETING MANAGER Planning, implementing & controlling your marketing strategy • Price & demand • Price & margin • Promotion budget & awareness • Sales budget & accessibility • A/R policy & demand
Set price of your products in the marketplace • Set the sales forecast for our products • Set Credit Policies AR/AP • Build customer awareness through promotion • Establish a sales force and distribution channels
Marketing also selects media vehicles & message weights • AND determines composition of sales/distribution staff ..and allocation of their efforts by segment & Brand
A B Performance As R&D Mgr SIZE Responsible for: • Product Position • Age & Quality • New product development High High Eight < < < Low Low One Quality Age Prdt Line
Establish product positioning to meet customer demand • Build quality & reliability (MTBF) into products • Create new products • Ensure age of product meets customer demands Drift
As Production Mgr: • Set automation levels • Buy / sell capacity • Schedule production • Drive Productivity
Schedule production for each line • Buy or sell capacity of product lines • Purchase machinery to automate our facilities • Establish your workforce complement
As Human Resource Manager--Responsible for: • Recruitment, Hiring, Training & Firing of all labor • 2 groups: • Assemblers • Technicians • Wages • Benefits
As FINANCIAL MANAGER • Acquire Capital • Issue Stock • Short Term Debt • Issue Long Term Bonds • Set Dividend • Retire Long Term Bonds • Retire Stock • Responsible for Emergency Loans Big AL The Loan Shark
