Are you using one of our business simulations and perhaps would like to add an online marketing component to the experience? Then, you are going to love what we have in store! We are very excited to announce the rolling out of a new content partnership between our business simulations and the Simbound e-Marketing simulation game.
The following is a guest post by Louis Havriliuc, Founder & CEO @simbound
Marketing academics are faced with numerous options when evaluating new content assets or online services for their courses. The most frequently encountered are case studies, simulation games, real-company projects and student competitions. Here, we present a novel simulation game aimed at marketing focused courses, whether online or traditional.
Marketing is moving online and Marketing Education is following the same pattern
As the digital revolution is underway, forward-looking decision makers are working on developing strategies that embed online services into the very fabric of the organization. Internet communications are used in Advertising, PR and Market Research to inform large scale corporate initiatives. For startup companies, e-Marketing is one way to test market demand for new concepts. A wealth of personal data has given way to new forms of marketing such as online behavioral targeting techniques, which are easy to implement and are cost efficient. Stimulated by online & mobile technologies proliferation, the ability to target communications at highly relevant prospects rewrites how the marketing function defines the firm’s value proposition. This places significant importance on the emerging role of the e-Marketer as the prime point of contact with an audience, which is technically savvy, and in many cases has an above average income.
We see a trend where marketing and entrepreneurship courses, and to some extent other courses, such as International Business and MBA programs are fine-tuning curriculums to include teaching of e-marketing communications. In the UK alone, there are over 80 programs at MSc and MBA level which focus solely on digital marketing. We estimate this trend will continue to grow as industry becomes more aware of how online technologies reshape the entire go-to-market process and academics become responsive to a new generation of teaching systems and methodologies.
Inbound marketing is a form of marketing which encourages a two way relationship between the brand and the consumer. Reach is an important success metric in a hyper competitive marketplace and Inbound Marketing tries to gain long-term commitment by creating conversations rather than frequent "interruptions".
Keeping up with the fast evolving technology field of e-Marketing
Marketing technology which was “cutting-edge” a few years ago is in many cases reaching the peak of adoption nowadays. As new forms of online communications are developed, even the highly advanced technology platforms of today will be transformed. How can academics make sure they stay on top of advancements in business and technology while also carrying out teaching and research activities?
We have identified this problem and are now able to offer a unique content solution which makes teaching highly relevant topics easier for business and marketing professors the world across. By offering a standalone, frequently updated and ready-to-play game experience which can simulate an unlimited number of scenarios, we are proposing an alternative to keeping up to date with the latest technology advancements. Further, academics that manage dynamic course content intake through the system are guaranteed to align course performance standards to that of the modern institution, which uses an emerging array of learning and engagement analytic data as the basis for future improvement of study programs.
Don’t just read about it. Teach it in a dynamic way!
The Simbound e-Marketing simulation game offers a quick way to bring the latest business practice directly into the classroom and offers students the opportunity to work on business planning decisions and e-Marketing communications in a high-fidelity environment. The digital marketing simulation game is scalable and continuously available, making adoption a simple process in most cases.
Learning concepts contained by the Simbound-Cesim simulation game:
- Students will be able to access a dashboard with information on “offline” metrics, such as financial results, sales and market share information, and also “online” indicators such as e-Marketing campaign reach, engagement and online sales
- Students will be able to test the product-market fit by efficiently using marketing resources to inform the development of Minimum Viable Products. By using multiple sources of data, they will be able to inform decisions which are costly to re-adjust e.g. developing and launching a new mobile device
- Students will be able to use early-market signals coming from their online operations to foresee changes in virtual consumer behavior and how this will impact their business simulation strategy mid to long-term
- Students will be able to educate their virtual audience on new, soon to be released products in new markets and thus influence awareness and early adoption rates
- Students will be able to test out alternative marketing experiments and online communication channels, which will trigger mass virtual consumer participation as a result of using social media, features and thus add a qualitative aspect to their simulated brand
Cesim and Simbound Content Partnership Webinar
This is a unique moment in the history of business active learning. The Simbound e-Marketing simulation game addresses the global market for business courses with a unique content product, which will define online business education in the years to come.