Marketing Education
Self-Learners: Experiential Learning to Adapt to the New Age of Marketing
Triggered by waves of wide-ranging, functional transformations the pace of change is constantly
increasing in marketing.
Digital migration and the explosion of business data has
fundamentally altered the manner we collect, process, analyse and disseminate market intelligence. The
increased volume, variety and velocity of information enables marketers to respond with much greater speed,
to changes in the marketplace. Market intelligence is timelier, less expensive, and more accurate
and more actionable.
The transformation in marketing practice is driven by the spread of analytics. As every element of the
marketing mix is sensed, tracked and measured, marketers must be trained in the interpretation
of marketing data, and the application of marketing analytics and marketing research methods.
To cope with the new norms of marketing, professionals need is a training program that speeds up
their revival.
While platforms like MarketingMind provide the right blend
of modern-day art and science, and while they impart the knowledge required by today’s marketers,
they need to be supplemented with tools that impart experience in the interpretation and the
application of marketing analytics.
This is where marketing simulators like Destiny play a vital
role. By telescoping time, they speed up the process of retraining marketing professional.
A key issue is the need to distinguish authentic simulators from the vast number of games that
are masquerading as simulators. What you need is a genuine simulator that accurately
replicates the marketplace and responds authentically to market dynamics.
Destiny is an apt example of an authentic experiential learning
facility. By replicating consumer behaviours, this highly advanced FMCG (CPG) marketing simulator
offers a holistic learning experience for marketing and retailing professionals. Pitted against one
another (or the computer), participants learn to implement effective marketing and business strategies,
and develop an understanding of what drives store choice and brand choice. They become proficient in
the use of market knowledge and financial data for day-to-day business decisions, and acquire an
appreciation of supplier-retailer relationships.
To learn more about marketing simulators and what must be considered
when evaluating them, check out these articles:
The author, Ashok Charan, is the developer of the Destiny marketing simulator.
He has over 26 years’ industry experience, working at companies like Unilever and Nielsen, and is currently
teaching at the NUS Business School.
Destiny: Consumer Marketing Simulator
