Operating a successful consumer electronics business isn’t easy. Understanding the target market, maintaining good profit margins, keeping costs down, retaining good employees and providing a high level of customer service are all vital elements to success.
Participants take over an ‘established’ consumer electronics retail store that specialises in computers, flat screen televisions and technology accessories. It has been in operation for 2 years. During the simulation, store owners will have the opportunity to expand by purchasing another three stores. The business also has a basic virtual online store which students can expand.
To be successful, this store needs to operate profitably. Success will be measured against the competition in terms of profit, market share, turnover and growth.