Today, we had the opportunity to test our entrepreneur’s skills with a simulation game called “Marketplace”. In 4 groups of 5 to 7 people, all competing with each other, we began at the very beginning of a startup lifecycle operating in the microprocessors industry. Following each important step that an entrepreneur has to trough, we had to make several decisions with a same goal in mind: selling our products.
Here some of the most important decisions we had to make:
- Definition of our vision, our mission and our goals
- Choice of the most adequate customer target
- Development of a product that meets the customer’s needs
- Choice of the best marketing mix
- Production planning
- Opening of sales offices and hiring of salespeople
For sure, the most funny and exciting part of the day was the comparison of the results obtained by each team at the end. An interesting point to notice for us as students was that the ones who were really successful during the first quarters, are not necessarily the same at the end. One decision can totally change the game; one decision can totally change the future of a start-up, in a good or a bad way!
Exciting, challenging & rich of lessons !
Let’s go live with the simulation game “Marketplace”. In groups of 5 to 7 students, we tried today to put all our knowledge together to launch a virtual start-up and boost our sales.
More or less successful, we all enjoyed playing the game and endorsing the entrepreneur’s role. Exciting, challenging & rich of lessons !