MarketSpace
Faculty Contributors: Jagmohan S. Raju, Christophe Van den Bulte
Student product managers respond to new marketplace entries and await countermoves from the competition
Like many Wharton Learning Lab applications, MarketSpace is not a single simulation—it is a toolkit that allows the instructor to create a large universe of different simulations.
Below is the main configuration screen in MarketSpace's administrative interface. Using this screen, the instructor can change all the major parameters of the simulation—the number and type of products in the market, the initial positions of each product, the market characteristics, the consumer preference distribution, and even a "fudge factor" that introduces a specific level of inaccuracy into the simulation's calculation of each product's market share and revenue.
