In the Markstrat world
The following is a sample conversation that goes on between most people on campus these days
Student 1: Hey watz up?
Student 2: Nothing yaar our company is not doing well at all. Competitors have started a price war and we have no money to respond.
Student 1: Why don’t you cut your prices too?
Student 2: We spent millions in developing the product. Now if we drop prices how do we recover that money?
Student 3 joins in. Looks as if someone has just beaten her up
Student 1: Hey looks like you are gonna cry! Wats the matter?
Student3: We produced 13 million units instead of 130000. We forgot that units entered in the software are in KUs . Now we have inventory till eternity and all our budget is getting spent in holding costs. We are dead
Student 1 and 2 : lol
Student 4 joins in. Another glum looking face.
Student 1: What happened to you?
Student 4: We spent $ 5 million to develop a product. It was ready last period but we forgot to modify the technology! Now our competitor is coming up with a better technology. We are finished!
And the conversation goes on. Everyone has totally gone crazy with markstrat. (For those who don’t know, markstrat is a marketing simulation game being played here with all of us divided into various teams and industries. It’s a part of the course work and grades would be assigned based on performance. Its an awesome way to apply all marketing concepts learnt in class and see how your decisions would have effected your company in the real world.)
Some buzz words on campus these days: Marketing mix, Competitive strategy, Sustainable competitive advantage, Sonites, Vodites, long term strategy, price war, Monte carlo simulation, Semantic scales, Perception maps, Brand awareness, Sales force allocation, advertising mix--------Commanding heights :)
Student 1: Hey watz up?
Student 2: Nothing yaar our company is not doing well at all. Competitors have started a price war and we have no money to respond.
Student 1: Why don’t you cut your prices too?
Student 2: We spent millions in developing the product. Now if we drop prices how do we recover that money?
Student 3 joins in. Looks as if someone has just beaten her up
Student 1: Hey looks like you are gonna cry! Wats the matter?
Student3: We produced 13 million units instead of 130000. We forgot that units entered in the software are in KUs . Now we have inventory till eternity and all our budget is getting spent in holding costs. We are dead
Student 1 and 2 : lol
Student 4 joins in. Another glum looking face.
Student 1: What happened to you?
Student 4: We spent $ 5 million to develop a product. It was ready last period but we forgot to modify the technology! Now our competitor is coming up with a better technology. We are finished!
And the conversation goes on. Everyone has totally gone crazy with markstrat. (For those who don’t know, markstrat is a marketing simulation game being played here with all of us divided into various teams and industries. It’s a part of the course work and grades would be assigned based on performance. Its an awesome way to apply all marketing concepts learnt in class and see how your decisions would have effected your company in the real world.)
Some buzz words on campus these days: Marketing mix, Competitive strategy, Sustainable competitive advantage, Sonites, Vodites, long term strategy, price war, Monte carlo simulation, Semantic scales, Perception maps, Brand awareness, Sales force allocation, advertising mix--------Commanding heights :)
posted by Venkat @ 4:54 PM
0 Comments:
Post a Comment
<< Home