Friday 2 January 2015
Students battle to develop strategy and portfolio in Markstrat simulation
Here, Southampton Solent business school reflects on a simulation exercise carried out by BA (Hons) Marketing students.
Final year BA (Hons) Marketing students completed the Markstrat simulation bootcamp together with tutors Sara Briscoe, Serkan Ceylan and Graeme Smith.
Many highs and lows were experienced by the student teams as they battled to develop their strategy and a portfolio of brands in the highly competitive Markstrat world. Team N, in Albatross world, finished the ‘8 year’ simulation with the highest stock price index and as overall winners for 2014/15 their names will be duly engraved on the Markstrat Shield.
During the weekend students also undertook a range of tasks to help them think about their team effectiveness. The marshmallow, spaghetti and paper challenge was notable in causing a good deal of frantic activity and much hilarity.
Students found the Markstrat simulation an engaging experience – they particularly enjoyed the healthy competition between teams and the ‘real world’ nature of the experience:
“You get to work in a competitive environment and try different strategies and tactics. It is really motivating and a really good way to experience ‘real’ business”