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In the real world, decisions about marketing allocations can seriously affect profit levels. To prepare students in making these decisions, instructors can provide them with a theoretical foundation. But how can students get practical, hands-on experience? Like many of the Learning Lab applications, the Resource Allocation Teaching Environment provides experiential learning by challenging students with realistic scenarios in a virtual MarketSpace.
Students that participate in RATE employ the same skills that would be required in a real business situation. In this case, however, a poor allocation decision results only in a learning opportunity and not in a disappointing return for the company's shareholders.