A decision making exercise designed to illustrate the six stages of marketing. At each stage the participants make decisions about the nature and depth of their research, their planning and promotion. Each of the allowed choices has a different cost, in terms of finance and time, and a different benefit in terms of market penetration and profitability. The exercise is designed for groups of 2-4 members and comes complete with enough materials for 8 groups. The exercise needs about 90 minutes.

OBJECTIVE
To allow participants to work through the stages of a marketing plan and balance the need for thorough preparation with the need for an early presence in the market place. The exercise will:

• increase awareness of the factors to be considered at each stage of the marketing process;
• improve the judgment that participants bring to the marketing decision-making process;
• dramatically illustrate market behaviour and the consequences of decisions.

HOW IT WORKS
The tutor introduces the exercise and hands out the first mandatory decision paper. This paper gives a brief description of the allowed options all of which are credible and demand careful consideration. Where an option would mean delay in bringing the product to market this is usually revealed - but not the extent to which Product Attractiveness would be affected. When the teams have chosen an option they report to the tutor, who makes a record of it and gives them a paper commenting on their choice and introducing the next mandatory decision. The teams continue this cycle until the end of round six when the tutor will inform them of their ‘Attractiveness score’ and when they will be ready to enter the market. The working of the market is then simulated by allowing teams to take, in successive rounds, a certain number of ‘profit tokens’ from a finite pool. The teams who’s decisions have resulted in the earliest launch of the product start taking straight away, and those that have a delayed launch only join when the appropriate number of rounds have passed. The game thus simulates the balance of benefit between early launch and a well-researched, if delayed, product.

WHAT PARTICIPANTS WILL BE DOING
Working through the stages of developing/marketing a product and choosing one of five possible policies at each stage. Simulating the competitive outcome of their choices by drawing ‘profit counters’ from a marketing pool.

FOR WHAT LEVELS IS IT APPROPRIATE?
Junior and middle level marketing staff; others needing an appreciation of marketing principles.

INCLUDED
Tutor manual; Working papers; Product cards; Profit tokens and all supporting documentation.

COST
£165 plus Vat and delivery