The Marketing class has been exploring and learning about ten important components of marketing. This week, students took on the challenge of running a lemonade stand in an online game. Through the game, they were able to learn about the importance of research, product development, pricing, sales and inventory management. They had complete control over pricing, quality, inventory and supplies, and their goal was to make as much money as possible over a 14 day period. It’s not as easy as it sounds though, as students needed to account for the weather, customer satisfaction and feedback, popularity, money, and inventory.
Although some students were more successful than others, everyone had fun trying to find the perfect balance between all the different factors at play. In addition, the game did well to demonstrate that marketing is more than just about sales and advertising. Soon enough, students will take these newly learned skills to put together a marketing plan of their own.