This is a simple return on investment calculator. One must enter Marketing Investment, Selling Price, Gross Profit, Profits Generated and Sales Generated.
Type of Material:
Simulation
Recommended Uses:
This simulation is completely versatile, and can be used to support in-class or out-of-class assignments. In addition, there are additional simulation calculators for ROI, Breakeven point, lifetime customer value, etc.
Technical Requirements:
Internet Browser - can easily be used with devices other than computers
Identify Major Learning Goals:
This simple online calculator can be used to demonstrate the relationship between sales, costs and profits. Students can quickly see the results of various sales scenarios, and make strategic plans accordingly.
Target Student Population:
Students in college sales-based courses will find this calculator directly helpful, however other business disciplines, such as finance or management, may be able to benefit as well.
Prerequisite Knowledge or Skills:
Students should have a basic understanding of sales and accounting/finance terms in order to enter appropriate numbers and interpret the results.
Content Quality
Rating:
Strengths:
The simulation is well-designed, and provides a lot of reflective information for marketing decision-making. It does require an initial understanding of terms, but is flexible and can readily assist students in seeing the financial outcome of various scenarios. There is a bonus link to other marketing calculators on the website that can further assist students as they consider strategic actions. Clean/clear and concise instructions.
Concerns:
The simulation is not created to be directly connected to any specific assignment. An instructor will need to develop the needed term understanding, and provide materials for its use. There are no learning objectives or explanations beyond instructions for numeric input. The promotional/advertising aspect of the site can be distracting.
Potential Effectiveness as a Teaching Tool
Rating:
Strengths:
This simulation would be a quick and ready tool for students doing classroom assignments or projects, and can be incorporated into lectures as well. It allows for easy comparisons, and eliminates the need to build one’s own spreadsheet or do hand calculations for this purpose. Students have the benefit of “playing around” with numbers in order to achieve the best possible outcome for their intentions; the cause-and-effect aspect is excellent. If previous concepts and terminology has been sufficiently explained, this tool can speed up in-class discussion with examples, and to make comparative analysis.
Concerns:
No learning objectives, conceptual reinforcement, or assignments are provided. Instructors must develop their own, and determine how best to integrate into a lesson, demonstration, or assignment. Definitions of concepts do not appear with the simulation, so instructors will need to develop the needed foundation and related assignments prior to student use.
Ease of Use for Both Students and Faculty
Rating:
Strengths:
Since the simulation is on an easily accessible website, students have it handy through a myriad of devices thus contributing to its usefulness. The instructions are simple, and if a student is familiar with the concepts, he/she can quickly get quality information without doing the calculations by hand. The module is also versatile enough to be used with different currencies.
Concerns:
As stated previously, little to no educational foundations or learning objectives are presented.
Creative Commons:
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