"Marketing simulation Student’s name: Institution Affiliation: Date:Introduction ? Marketing simulation gives learners theopportunity to practice the 4P’s of marketing ie product, price, place and promotion. ? Learners are presented as managers faced withcritical decisions that match those in the real- world of business.Pricing ? A drop in price from the set price of productssaw a drastic increase in market share. ? There was a hundred percent increase in thenumber of total units sold. ? Double the gross profit was realized. ? Revenue collected also doubled. ? NB: Choosing to drop the price of the productallowed many customers to afford the product.Promotional strategies ? The main promotional technique used wasadvertising.? Initially used newspaper prints as the means ofadvertising. An adjustment from this form tousing online advertising saw a drop in the marketshare (Vasudevan & Senthilkumar, 2017). ? I choose to change the means of advertising toradio ads. ? This was not only a cheaper method but alsoallowed a greater reach of target customers.Customer segmentation ? Originally, the customer target method was targetoverlap. This is to mean that the same customerswere targeted by different techniquessimultaneously (Melnic, 2016). ? A change to a more focused reach revolutionizedour market.? A large number of people within the same marketwas targeted instead of targeting overlapCompetitive strategies ? Competition can easily face you out of themarket. ? An expensive but reasonable product wasdesigned and introduced into the market. ? Cross-platform promotion was also put in place.However, the introduction of unforeseencompetitor led to loss of initial market share. ? This triggered the need to re-evaluate theadvertising, pricing, marketing and distributionstrategies."