Students develop a marketing pitch for an authentic product or service and form their own businesses (five students per team). Drawing from theoretical principles and concepts, each business designs and produces a product or service to be bought and sold using fake QUTopian currency at two ‘market days’ held at the QUT Gardens Point campus.
After the market days, students analyse and reflect on their performance using tools such as market share calculations, competitor analysis, profitability and customer retention ratios.
Assessment is closely aligned with the three stages of the marketing pitch cycle:
- planning, assessed by a marketing pitch,
- implementation, assessed at the market days,
- evaluation, assessed by case analysis and a reflective video.
Technology is integrated in the simulation through a Facebook site, YouTube, QUTopia TV (a purpose-built video sharing site), virtual mentors (industry and QUT alumni) and QUT Blackboard.
On screen title: QUTopia: A real-world marketing simulation
We're open for business!
On screen title: QUTopia Est. 2005
On screen: QUTopia QUT Business School