Week 5 of the course was focused on the theme of simulation of business models. The first class session was dedicated to today’s case about a business simulation event: “Hello Konichiwa”. During the discussion, students recalled the concepts of 4Ps (Product, Price, Place and Promotion) - usually learned in introductory marketing courses, and shared some thoughts on how the marketing plan, described in the case, could be improved. By doing so, students were reminded that they should imply clearly the marking concepts in their business models.
Regarding the students’ business model, students had received valuable feedback from their ecosystem, the invited consultants and Prof. Goi, to further improve their models. By having taken into account those feedbacks and having carried out necessary improvements, today’s class was scheduled to allow students to showcase their skills on implementing their business models online through a simulation task.
During the simulation, students were required to demonstrate their business models in an innovative and interactive way. The simulation task was followed by a debriefing session in which a consultant was invited to share his comments and suggestions for each group of students. Dr. Goi facilitated and encouraged students to integrate and reflect what they had learnt through this simulation. By the end of the class, students gained the necessary confidence to fully implement and to present their business models next week, as part of the final project.