Students are faced with five challenging pricing scenarios or dilemmas. There are arguments for different price points, given the competitive and marketing environment situation. A good activity to learn the practicalities of pricing and to find out that price is much more than just a number.
Analysis and Metrics
Students play the role of marketing consultants to a candy manufacturer named “Sweet Tech”, who needs strategic marketing advice on setting priorities for their growth plans. The activity is based around the product/market matrix.
This is NOT a teaching activity. Instead, it is a series of eight in-depth (5-10 mins) videos on Customer Lifetime Value that you can choose from to give students a deeper understanding of these topics.
This is NOT a teaching activity. It is a series of 14 in-depth (5-10 mins) videos on market segmentation and targeting that you can choose from to give your students a deeper understanding of these topics.
Students are presented with seven CLV calculations to solve for a supermarket. They start off easy and then get progressively harder. A good exercise to reinforce the dynamics of customer lifetime value and how the calculations work.
In this activity students are presented with a managers meeting that is discussing whether or not to implement mystery shopping market research program. There are good arguments for and against. The students need to decide whether they would implement the program.
In this task, students review a short transcript from a focus group discussion about the benefits of joining a fitness center. They will identify insights, motivations, as well as examining research biases.
Students work through a pricing experiment testing optimal pricing for profits. They then construct a demand curve, as well as considering multiple environmental factors before making a final pricing recommendation. A good activity to understand the role of marketing mix experiments.
In this activity, students look at three scenarios where companies have manipulated and/or influenced market research and analytic results for their own purpose. This poses the question of ethical use of information. Your students discuss both ethics and business goals in order to see which one is more important.
In this task, students are presented with five different marketing problems for businesses operating in various industries. Students need to identify whether the firm would be best informed by using qualitative or quantitative marketing research. This is an ideal exercise to help understand how different types of research tools can deliver different information.