Markstrat Marketing Simulation: Successful week at the University of Kassel with participation from 10 universities and almost 90 students

Kassel, April 5, 2023 - During the week of March 26-31, the Department of Economics at the University of Kassel hosted the marketing simulation -Markstrat-. Almost 90 students from 10 different universities participated in the simulation and worked intensively on their marketing strategies for one week.

The marketing simulation Markstrat simulates competition between companies in a market environment. The participants work in international teams and develop and implement different marketing strategies to successfully sell their products. In doing so, they have to make decisions in the areas of pricing, product development, advertising, distribution channels, and inventory management, taking into account the needs as well as preferences of customers.

Thus, the marketing simulation provides students with an excellent opportunity to gain real-world knowledge in the area of marketing management. Students were able to strengthen their understanding of marketing strategies while improving their teamwork and problem-solving skills.

In addition to the intensive work on marketing strategies, there was also a varied social program. Participants were able to exchange ideas at the International Dinner, explore Kassel on the city rally, enjoy a BBQ at the boathouse, and celebrate the successful conclusion of the week at the closing gala.

The feedback from the participants and the organizing team was very positive. The Markstrat marketing simulation was a great opportunity for students to gain practical knowledge and network with other universities.

Next year, the simulation will be hosted by a partner university. The exact location has not been determined yet. However, we are already looking forward to hosting such successful events in the future.