Practical Workshop "Competitive Pricing Simulation Game"
HHL Leipzig Graduate School of Management, Jahnallee 59, Leipzig 04109 , Germany
Smart competitors are few and far between. Some are driven by market share and sales volume pressure, leading to price wars. Others rely exclusively on cost leadership and ignore the competition to focus on quality and differentiated products/services. In many cases, this damages margins, and the profitability of the entire market suffers.
In this workshop, you will experience for yourself the difference between smart and short-sighted competitive behavior by taking part in an exciting simulation game. In small teams and over the course of multiple rounds, you will endeavor to lead your own company to success ahead of the competition. As an entrepreneur, you will need to prove you can make decisions and negotiate with skill and foresight. Assisted by Simon-Kucher experts, each group will develop its own strategy. Finally, we will come together to discuss the outcomes and implications for your company.
The game simulates the “prisoners’ dilemma” in a competitive setting: How do I act intelligently when I don’t know what the competition is going to do? What risks can I take? Can I eliminate my competitors? How can both competitors win? How does my strategy change when costs or storage capacities change; when the board sets new targets; or when new communication opportunities arise?
In a short introduction, we will provide you with detailed insights into the prisoners’ dilemma, competitive strategy, and pricing, fully equipping you with the theory you need for the case study.