MICROLAUNCH is a marketing research based simulation specially designed for marketing and marketing research practitioners. During the simulation participants will be formed into teams responsible for devising a research program for a new product launch. Timing and budgetary constraints will play an important role in determining what type and how much research to commission.
For each stage of research, four decision steps will be made: 1) the marketing objective; 2) the research technique, which includes time and cost parameters; 3) the sample size needed for the research; 4) the input (stimulus) material to be used. Having made these choices, participants present their full submission to ΄the Judge΄, an experienced researcher present throughout the game, who keeps a record of cumulative time/spend. If the correct answers are selected the Judge provides the actual research results that would have been obtained, and participants move on to the next stage. If not, a fine is imposed and the group has a chance to consider an alternative approach.
The strength of the simulation lies in the fact that it requires an entire research program to be constructed using a variety of methods to answer a range of marketing problems. For instance, it demands an understanding of when to use qualitative and when to use quantitative techniques; it highlights the need to fix each element of the marketing mix before moving to a predictive test; and it involves a calculation of product pricing based on company and trade margins, and a volume prediction calculation using test results. By the end of the course, participants should have clarified in their minds the ΄funnel΄ structure of an NPD research program - starting with a wide screening and gradually narrowing down via testing to a final marketing mix for launch evaluation and subsequent market performance assessment.
The course will run from 8:30 am 4:00 pm
A break for lunch will take place from 12:15 pm -1:15 pm
At 3:45 pm the winning team will be announced followed by course wrap up