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Marketing Simulations in Education: A Brief Overview for the Markstrat Simulator

Author

Listed:
  • Catalin Gradinaru

    (University of Bucharest)

  • Sorin-George Toma

    (University of Bucharest)

  • Stefan-Alexandru Catana

    (University of Bucharest)

Abstract

Worldwide, there is a strong need to extend the multiple layers of learning techniques in order to improve the entire educational system, the experiences of the stakeholders involved in the process in order to be able to generate competent knowledge workers and to have a healthy and competitive knowledge environment. Experiential learning is one of the important methods used by educational units and companies as it provides an immersive, hands-on approach to the process. Since marketing is a vital pillar for institutional and business success, marketing simulations are often used to (eventually) contribute to gaining a competitive edge over others. Used in education, a marketing simulation assists the transition from student, to employee and to employer in the current digitalized knowledge society. The aim of the paper is to provide a brief overview on an international and wellrecognized marketing simulation entitled Markstrat (by StratX). The used methodology is quantitative and based on sources of secondary data such as books and articles. The findings of the paper show the structure of the online marketing simulation Markstrat by StratX, highlighting its key components.

Suggested Citation

  • Catalin Gradinaru & Sorin-George Toma & Stefan-Alexandru Catana, 2021. "Marketing Simulations in Education: A Brief Overview for the Markstrat Simulator," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 737-742, December.
    • Handle: RePEc:ovi:oviste:v:xxi:y:2021:i:2:p:737-742
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    File URL: https://stec.univ-ovidius.ro/html/anale/RO/2021-2/Section%204/24.pdf
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    References listed on IDEAS

    as
    1. Sorin-George I. TOMA & Anca BRATU & Marin BURCEA, 2013. "When Business Strategy Meets Creativity," Network Intelligence Studies, Romanian Foundation for Business Intelligence, Editorial Department, issue 2, pages 148-153, October.
    2. Cãtãlin Grãdinaru & Sorin-George Toma & Paul Marinescu, 2016. "Marketing Mix in Services," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 311-314, July.
    3. Stefan Catana & Sorin-George Toma, 2021. "Marketing Mix And Corporate Social Responsability In Automotive Industry – Case Study: Mazda Motor Corporation," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 205-209, February.
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    Cited by:

    1. Catalin Gradinaru & Sorin-George Toma & Stefan-Alexandru Catana, 2022. "Market Research In Marketing Simulations," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 77-81, August.

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    More about this item

    Keywords

    marketing; marketing simulations; strategic marketing; Markstrat; education;
    All these keywords.

    JEL classification:

    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M39 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Other

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