During the simulation, you will run a medi-tech company, your product is a smartwatch health app called HealthCare.
In this module you will learn about basic management skills in the following topics
Introduction to cost structure and cost categories
Introduction to a simplified report
Introduction to Cash Flow Principles
Products / services introduction to online market
Using online marketing channels
Understanding / applying market segmentation
The company builds a smartwatch app which collects the user's health data and helps build a healthy lifestyle. The app is called HealthCare.
Your company started recently and an investor gave you capital. You have to start your operations, get an office and hire employees to build the app.
After this you can introduce your product to the market.
At the beginning of the simulation, the business is in the starting state with 250.000 EUR capital from a financial investor to implement the idea. Until the first revenue comes in, you have to run the company from this amount.
The management staff will visit and inform you from time to time. At the end of each month, you can review corporate statistics, and analyze data to determine the actions of next month.
Although the product is innovative, but not unique! Others are making similar applications, so competitive environment is expected on the market.
You've already mapped out what prices competitors ask for similar subscription products. It is a fairly wide spectrum of 1 EUR /month and 8 EUR /month.
Your goal is to navigate the business in the first 12 months: create a product, introduce it to the market, sell it and collect more and more subscribers who use HealthCare on their smartwatch. And, of course, to be stable and profitable.