Business simulations are widely used in MIM-Kyiv’s programs. MarkStrat is one of them that integrates strategic marketing management skills.

As the part of the simulations the students should:

• Maximize share prices;
• Expand market share;
• Boost sales;
• Increase net profit; and
• Invest in R&D.

“We are using the seventh version of the simulation. It has a lot of visualization, graphs, etc. The students should analyze more data, especially as a part of the market research. Besides, the students can work from anywhere rather than from MIM-Kyiv’s computer class. Group work promotes teambuilding skills, allows more discussions and more independent decision-making,” Myroslava Grozinska, Head of the academic administration department and MarkStrat instructor.

“Any simulation allows practicing managerial decision making and risk-taking in a safe environment. It is the best place to try creative strategies, learn from mistakes and analyze the strengths and weaknesses of the decisions,” Myroslava explained.