Teaching Marketing Through a Micro-Economy in Virtual Reality

Abstract

Teaching retailing principles to students is a challenge because although real-world wholesale and retail decision making very heavily depends on dynamic conditions, classroom exercises are limited to abstract discussions and role-playing. This article describes two interlocking class projects taught using the virtual reality of secondlife.com, which allowed students to use their recently gained skills in wholesaling and retailing. The exercises provided students with unique educational experiences without the need of "bricks and mortar" product development, wholesale, or retail spaces. This spurred students' creativity and entrepreneurship. Students described the simulations as "fun" and "interesting." Students also reported a greater depth of learning as a result of participating in the virtual simulation. This article describes the interdisciplinary team efforts to develop educational experiences for students. It also uses previous research in virtual reality implementation for classroom use to provide a framework for assessing the credibility of the set of assignments.

Virtual reality in K‐12 and higher education: A systematic review of the literature from 2000 to 2019

“…Figure 5(d) shows that the majority of VR interventions in the literature featured a low level of interaction, allowing for minimal customisation of the learning process or only a simple manipulation of simulations. On the other hand, the high levels of interaction featured in 31 studies enabled learners to freely explore the virtual world (Drake‐Bridges et al, 2011), actively solve problems (Morales et al, 2013), or even create their own avatars or story scenes (Meggs et al, 2012; Yeh et al, 2018). In 15 studies, VR was used mainly for content delivery and allowed no interaction.…”

How do virtual world experiences bring about learning? A critical review of theories

“…As such, educators should be cautious in suggesting that virtual world experiences could replace real-world internships, as suggested by Drake-Bridges, Strelzoff, and Sulbaran (2011) and Vergara, Caudell, Goldsmith, and Alverson (2008). The physical experience is still very much needed.…”

Evidence Items as Signals of Marketing Competencies and Workplace Readiness: A Practitioner Perspective

“…To produce a relevant, diverse, and broad group of evidence items, we engaged in a multi-step item generation process. Initially, we catalogued common academic assessments used to evaluate student learning in business schools, which include exams, papers, projects, presentations, and case studies (Martell & Calderon, 2005), as well as innovative assessment approaches discussed in the literature (Bacon, 2003; Bommer, Rubin, & Bartels, 2005), such as business simulations (Brennan & Vos, 2013; Canhoto & Murphy; 2016; Kietzmann & Pitt, 2016), role-plays (Mani, Kothandaraman, Kashyap, & Ashnai, 2016; Rocco & Whalen, 2014), and social media/digital networked technologies (Drake-Bridges, Strelzoff, & Sulbaran, 2011; Granitz & Koernig, 2011; Granitz & Pitt, 2011; Kaplan, Biskin, & Bol, 2009; Lowe & Laffey, 2011; Muñoz & Wood, 2015; Payne, Campbell, Bal, & Piercy, 2011; Pearce & Lee, 2009; Rinaldo, Tapp, & Laverie, 2011; Wymbs, 2011). Additionally, we examined industry-specific technologies (Cummins & Floten, 2013) and tools, such as customer relationship management (CRM; Harrigan & Hulbert, 2011), that have been considered or integrated in marketing curriculum and assessment.…”