IDEAS home Printed from https://ideas.repec.org/a/ovi/oviste/vxxiy2021i2p737-742.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: https://stec.univ-ovidius.ro/html/anale/RO/2021-2/Section%204/24.pdf
    Download Restriction: no
    ---><---

    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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Stefan Catana & Sorin-George Toma, 2021. "Marketing Mix in Healthcare Services," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 485-489, August.
    2. Gabriela-Nicoleta Andrisan & Andra Modreanu, 2024. "Advantages of Industry 4.0: Case of Pashion Footwear," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 378-383, August.
    3. Sorin-George Toma & Stefan Catana, 2021. "Linking Customer Experience With The Extended Marketing Mix," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 105-109, October.
    4. Stefan-Alexandru Catana & Sorin-George Toma & Catalin Gradinaru, 2022. "The Product Life Cycle And The Boston Consulting Group’S Growth- Share Matrix In Marketing Simulations," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 319-324, August.
    5. Stefan-Alexandru Catana & Sorin-George Toma, 2021. "Service Quality Models As Customers Satisfaction Tools," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 241-245, October.
    6. Sorin-George Toma, 2023. "The Evolution of the World’s Most Valuable Brands in the Period 2018-2023," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 815-821, August.
    7. Gabriela-Nicoleta Andrisan & Andra Modreanu, 2024. "Sustainability in Business Models: The Case of MUD Jeans," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 370-377, August.
    8. Sorin-George Toma & Stefan-Alexandru Catana & Catalin Gradinaru, 2022. "Competitive Business Strategies In Global Retailing: The Case Of Wal-Mart," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 106-112, February.
    9. Andra Modreanu & Sorin-George Toma, 2023. "A Brief Analysis Of Social Media Brand Content And Strategy During The Covid-19 Pandemic," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 234-239, February.
    10. Sorin-George Toma, 2023. "Corporate And Business Strategies In Global Retailing," Management Strategies Journal, Constantin Brancoveanu University, vol. 60(2), pages 131-138.
    11. Sorin-George Toma, 2023. "Analysing The Evolution Of The World?S Largest Corporations In The Period 2019-2021," Management Strategies Journal, Constantin Brancoveanu University, vol. 60(2), pages 123-130.
    12. Sorin-George Toma & Stefan Catana, 2021. "The Value Of Brand In The Football Industry," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 27-31, February.
    13. Sorin-George Toma, 2023. "The Evolution of the World Motor Vehicle Production in the Period 2018-2022," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 175-179, December.
    14. Andra Modreanu & Gabriela Nicoleta Andrisan & Maria-Alexandra Sarbu, 2021. "Strategy: An Overview," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 836-841, December.
    15. Stefan-Alexandru Catana & Sorin-George Toma & Catalin Gradinaru, 2022. "Marketing Simulations In Business Education," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 201-205, February.
    16. Toma Sorin George, 2023. "Corporate Strategy And Business Strategy," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 82-88, June.
    17. Sorin-George Toma, 2024. "America’s Most Innovative Corporations in the Period 2022-2023," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 549-554, August.
    18. Gabriela Andrisan & Andra Modreanu, 2022. "Achieving Business Success in the Fourth Industrial Revolution: The Case of Procter & Gamble," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 482-490, September.
    19. Gabriela ANDRISAN & Andra MODREANU, 2023. "The Role Of Innovation In A Sustainable Business Model: The Case Of Allegorie," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 8(1), pages 6-13.
    20. Sorin-George Toma, 2024. "The Largest Global Retailers in the COVID-19 Pandemic Period 2020-2021," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 542-548, August.

    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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:xxi:y:2021:i:2:p:737-742. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gheorghiu Gabriela (email available below). General contact details of provider: https://edirc.repec.org/data/feoviro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.