Markstrat

Draft

Introduction

Markstrat is the product name of a business simulation.

According to Kinnear & Klammer (1987) , it can be used both as and educational tool and as a tool to conduct experimental studies.

History

Markstraat is being developed since the early 1980s.

In 1987, Kinnear and Klammer (p. 491) describe the Markstrat simulation environment as follows: Markstrat is a marketing-strategy simulation game in which five firms compete against each other. This competition is based upon the utilization of the classic marketing variables: product development and management, distribution, promotion, and price. Decision makers in competing firms utilize marketing research studies and develop strategies based upon effective segmentation and positioning. Their performance in the game is based upon such measures as market share, sales, contribution margin, and return on marketing investment. In many respects, then, it is a classic strategic marketing situation that a real-world manager would face.}}

Bibliography

Other

• Green, D. H., & Ryans, A. B. (1990). Entry strategies and market performance causal modeling of a business simulation. Journal of Product Innovation Management: AN INTERNATIONAL PUBLICATION OF THE PRODUCT DEVELOPMENT & MANAGEMENT ASSOCIATION, 7(1), 45-58.

• Kinnear, T. C., & Klammer, S. K. (1987). Management perspectives on Markstrat: The GE experience and beyond. Journal of Business Research, 15(6), 491-501. https://www.sciencedirect.com/science/article/abs/pii/0148296387900348

• Larreche, J. C. (1987). On simulations in business education and research. Journal of business research, 15(6), 559-571.