Business Simulation: Analyzing the Marketing Executive's Role in Driving Corporate Success

Abstract

The automotive industry has recently experienced a significant shift from ICE- based vehicles to more sustainable alternatives in an effort to protect the environment and mitigate the climate impacts of vehicular emissions. This study explores the simulation environment of the European automotive market in a manner that is as realistic and current as possible. It specifically examines the implementation of various marketing strategies, emphasising the role of the marketing executive in pricing, understanding customers' preferences, targeting specific demographics, and selecting effective advertising channels. Although previous research has investigated effective marketing strategies in the automobile industry, they have rarely considered how these strategies align with specific age groups, mainly focusing on electric and hybrid vehicles. In this simulation, marketing efforts were tailored to appeal to customers aged 41-55, considering factors influencing their purchase decisions and preferences and identifying the most effective advertising channels for this demographic. This targeted approach proved successful, as it has resulted in significant sales achievements and long-term profitability for the company.