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Abstract

This paper identifies a useful technology tool that aids in the teaching of pricing strategies and allows students to experience the interactive effects of decisions involving pricing, production levels, and promotional spend. This innovative technology tool can be easily implemented either online or in the classroom. Concepts related to pricing strategy do not typically evoke enthusiasm from students, and in many cases, both students and professors would welcome an engaging, innovative way to teach the key concepts of pricing strategy. In the past, attempts to convey pricing concepts through experiential learning have involved large-scale simulations that extend throughout the length of a course. However, many professors are beginning to question the pedagogical merits of these large-scale simulations and are finding that with the semester-long simulations, lessons related to specific areas of marketing, such as pricing, are often lost in the face of what students perceive as more glamorous decisions. Microsimulations are short, computer-based, dynamic games that can be played in one or two class sessions. The authors discuss the use of a specific pricing microsimulation that engages students in learning, improves student satisfaction with learning, develops greater understanding of content, and fosters retention of lessons learned.

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