âMarketing takes a day to learn and a lifetime to master.â â Phil Kotler.
As the unique experiential learning pedagogical platform for learning business concepts and applications, MonsoonSIM enables students to run their âvirtualâ companies and directly manage thirteen interconnected business departments, which support integrated development.
To learn more about MonsoonSIM, watch this video
MonsoonSIM allows users to make marketing media choices.
About Enterprise Resource Planning (ERP) for Beginners.
ERP 103 is one of the 14-part Micro-course in the Introduction to Enterprise Resource Planning (ERP) to Business Students course series. Check out this page for an overview of the 14-part ERP Micro-Course series
- Begin your journey through the fundamentals of business operations with Navigating the Business Landscape: An Introduction to ERP 101 with MonsoonSIM.
- Dive into the intricacies of demand planning in the retail industry with MonsoonSIM's ERP 102 Course: Mastering Demand Planning and Forecasting.
ERP 103: Retail Business 3 - Marketing
MonsoonSIM helps users understand the impact of marketing on retail sales.
ERP 103 (Retail Business 3) succeeds the aforementioned modules, involving 4 interrelated business departments of Finance, Procurement, Retail Sales and now, Marketing.
With the ERP 103 module, learners are able to gain a thorough understanding of the marketing departmentâs responsibilities and decisions which influence the running of the business. Learners will have the opportunity to make marketing media choices and be involved in the marketing investments. Additionally, the learnersâ direct and hands-on learning and decision-making also enables them to apply business concepts and theories as well as study and reflect on the expected and actual results, specifically the impact of marketing on retail sales. More profound insights and valuable lessons can be experienced firsthand through careful analysis of the available market intelligence, marketing ROI and also the market share.
Observe Marketing Impact
In this module, the main learning goals are :
1. Make marketing media choices
2. Learn about marketing investments
3. Understand the impact of marketing on retail sales
4. Purchase and analyze market intelligence
5. Utilize marketing ROI
6. Analyze market share
With a heavy focus on marketing and the external environment of the company, the dynamic and ever-changing nature of the business world is captured within the MonsoonSIM business simulation and gamification education platform. This both encourages learners to develop a flexible and resourceful way of thinking as well as a quick response-time and sharp decision-making.
Not only will learners explore the overall flow and connectivity between these 4 highlighted departments (Finance, Procurement, Retail Sales and Marketing), but they will also learn on which media is best suited for each product in their companyâs portfolio. These answer questions such as on how much to invest for which media and for which product, when is it best to purchase marketing reports, gain insights on their competitors and careful study of the market share.
Strategic Marketing Insights: From Analysis to Execution in MonsoonSIM
Enhancing Marketing Acumen:
- Learners navigate through complex decisions about investment allocation across different media channels, honing their ability to strategize marketing for diverse products.
- They evaluate the effectiveness of marketing expenditures by analyzing the influence on market share and sales volume.
Competitive Analysis and Market Share:
- The course provides tools for a thorough competitive analysis, offering insights into competitors' strategies and helping learners assess their company's position in the market.
- It emphasizes the importance of understanding market share dynamics and adjusting marketing strategies accordingly to maintain a competitive edge.
Data-Driven Decision Making:
- ERP 103 reinforces the significance of data analysis in marketing, guiding learners to make informed decisions based on sales and financial data rather than intuition.
The course challenges learners to assess the return on marketing investments, considering the impact on the company's cash flow and profitability.
MonsoonSIMâs immersive business simulation and gamification education platform ensure that learners and teachers alike will have an enjoyable and meaningful learning experience as a class. Offering a unique, experiential learning opportunity for students and transforms the way business concepts are taught in class, MonsoonSIM looks forward to supporting more students worldwide in a way where thereâs more to learn, easier to learn.
Watch a Video of MonsoonSIM Marketing in Action
To continue advancing your understanding of MonsoonSIM's business strategies and enhance your marketing acumen, proceed to "ERP 104 - Diving Deeper into Business Strategy and Operations" after exploring the essentials of marketing in "ERP 103 - Navigating the Marketing Landscape in MonsoonSIMâs Interactive Retail Strategy".
