SmartSim - Strategy & Branding

The license fee for the program: 3 500 EUR + VAT

In the game, there are 5 companies producing consumer goods competing on the same market. They create 3 types of consumer goods (belonging to 3 segments), maximum 2 in each segment. For the production sufficient number of employees are required (with proper wages), also raw materials and machinery.

The finished goods are sold through retail channels by sales representatives. Apart from the production, the companies should also communicate well with the end consumers. The students need to make decisions in marketing concerning the budget used for advertising, and the prices. In order to preserve liquidity and profitability, the players are required to handle the finances of the company properly. The updated, 5.1 version of Consumergoods Midi also contains detailed financial statements.

How SmartSim simulation software works:

  • The students form groups and take over the management of the virtual company created by the simulation software.
  • The virtual company is managed by making strategic decisions for every quarter of a year. The software gives a written feedback about the results of the decisions, and it also shows the important economic indicators (profit, Cash flow, traffic,…) on a graph.
  • The software settings can be modified in various ways based on different demands, purchase prices, the wage flexibility, credit conditions and a number of other factors.
  • The software can simulate up to 12 periods.

Advantages and learning points:

  • The program shows a basic economic activity, the operation of a producing company, highlighting the most important strategic points in the management of the company.
  • The program is complex enough to synthesize and put into practice the knowledge of students, who are close to finishing their studies.
  • As it simulates the operation of a large economic unit, it presents the competition on the market, that can be influenced by the members of the market themselves, just like in real life.
  • Careful planning is essential to be successful in this simulation. Students need to take care of the company finances and the inventories, but they also need to make sure, that all the components required for production and sales are available in the proper quantity and at the right time (production management).
  • The game challenges and develops analytical skills, as students are required to find the data they need from various financial and commercial reports (for example balance sheets, income statements, cash flow, market research).
  • As a result, just like in real life, effective teamwork is essential to successfully complete the game.

References:

  • University of Miskolc, Faculty of Economics
  • University of Szeged, Faculty of Economics and Business Administration
  • Corvinus University of Budapest, Insitute of Management
  • Budapest Business School
  • Sapientia Hungarian University of Transilvania
  • Atalanta Secondary School of Economics
  • Bethlen Gábor Secondary School of Economics
  • Bródy Imre Secondary School
  • Kada Elek Secondary School of Economics
  • Kossuth Zsuzsanna Secondary School of Engineering
  • Secondary School of Economics of Kőszeg
  • Radnóti Miklós Secondary School of Economics

Recommendation:

Here at Budapest Business School, Faculty of International Management and Business, we have been using business simulation games as part of the marketing classes for 20 years. At first, we used programs from the USA and Germany. After 2000, we discovered the games developed and sold by EcoSim. We have been using Consumergoods Mini program for several years to put into practice the knowledge of our students in marketing management.

The game is organized and conducted through the Internet. It has happened many times over the past years, that apart from the students studying here, students studying abroad with a scholarship have also participated actively in the game.

Dr Eszes István PhD, Marketing teacher at Budapest Business School, Faculty of International Management and Business

Licensing conditions:

  • We provide a training for the school teachers about the use of the simulation software. We also provide technical support on workdays for the duration of the license.
  • The duration of the license: 5 years from signing the contract
  • A program can only be used for educational purposes and within your own institution, but it can be used in multiple workstations without paying extra fees.
  • A license fee can be paid in one sum, or in multiple installments (which means 40% of the fee upfront, and according to the agreement, semi-annual or monthly deposits.)

Support:

We are happy to help on workdays with any technical questions, and with questions about the use of the program.

We provide
Simulation Development