Virtual Business Simulation: Retailing
Virtual Business – Retailing teaches students the business basics and exposes the secrets of retailing. Students learn the tough business decisions that impact their common shopping experiences – why stores are located where they are, how stores decide to price products, etc. This sim is ideal for teaching Marketing, Entrepreneurship and Intro to Business.
With Virtual Business – Retailing, students start with a familiar grocery/convenience store. As their retail knowledge deepens, students later manage sporting goods and electronics retailers. Students learn promotion/marketing strategies including traditional media and new options such as email campaigns. Students can fully design the retail layout of their stores. Grocery stores highlight perishables; sports stores highlight seasonality; electronics stores highlight personal selling. The “Mega-Mogul” project lets advanced students establish a retail empire of multiple stores in multiple product categories. Newly improved multiplayer mode lets students compete in class or from home, at your option.
Overview
Lessons Included
- Market Research
- Product
- Place
- Pricing
- Promotion – Traditional
- Promotion – Email
- Staffing, Selling & Customer Service
- Purchasing & Inventory Control
- Merchandising
- Security & Risk Management
- Financing & Business Planning
- Retailing Mogul
- Extra Credit: Turnaround
- Extra Credit: Mega Retailing Mogul