Growth Dynamics in New Markets: Improving Decision Making Through Model-Based Management

  • 6h 27m
  • Martin F.G. Schaffernicht, Stefan N. Groesser
  • John Wiley & Sons (UK)
  • 2018

An innovative simulation-based approach for strategic decision making when launching new products

Growth Dynamics in New Markets contains a dynamic case study and simulations that reveal what it takes to successfully introduce a product into a new market. Written by experts in the field, the text and companion website include a compelling simulation game and a variety of simulation models. Using the simulation game and computer models, readers are challenged to design and put in place a strategy about product introduction and competitive behavior. The simulation models build on each other to help to arrive at a comprehensive understanding of product uptake as well as market development and competitive dynamics. The authors present different approaches for enhancing the models and offer guidance for applying them to real-world problems.

This groundbreaking text clearly shows how to develop maps of dynamic systems, formulate candidate policies and evaluate them based on the simulations. It also reveals how to use computer simulations to understand what decisions could and should be made, when to make them and how intensive they should be. The authors present an interactive approach that:

  • Contains an innovative combination of a case study, simulation game and simulation models for developing the skills to introduce a product to the marketplace
  • Offers targeted questions that help to enhance the understanding of the material presented
  • Presents detailed answers and solutions to a number or real-world business challenges
  • Features video tutorials that explain how the simulation experiments are implemented and interpreted
  • Aids in the development an action-oriented, pragmatic understanding of the underlying forces in business

Designed for students of business administration, management, industrial engineering, informatics, engineering, and public policy, Growth Dynamics in New Markets offers an innovative approach that combines the practice of dynamic reasoning and the use of simulation to design and test possible policies.

About the Authors

Martin FG. Schaffernicht, Facultad de Economía y Negocios, Universidad de Talca, Chile.

Stefan N. Groesser, School of Engineering, Bern University of Applied Sciences and Institute of Management, University of St. Gallen, Switzerland.

In this Book

  • Introducing a Durable Product in a New Market
  • Capturing Customer Dynamics Driven by Diffusion
  • Effects of a Limited Product Life Cycle Duration
  • The Effect of Advertising Spending
  • Financial Resources
  • Analysing the Market Situation with the Simulation
  • Market Dynamics with a Competitor
  • Relaxing Assumptions and Adding Relevant Aspects of Reality
  • System Dynamics—A Methodology for Model-Based Management
  • Abbreviations