Wargaming, also known as military simulation, is an old simulation method that was originally used to prepare for unexpected developments in military conflicts.
The so-called wargames were used to anticipate enemy behavior and to derive own action alternatives based on this. Today, wargaming is used to play through economic “what-if” scenarios. In a protected environment, experiences can thus be gained which later reduces the probability of wrong decisions. Such analyses are particularly relevant for price management. By simulating the different effects of one’s own price setting, but also of the competitive price setting, it is possible to develop tailor-made decision-making tactics. If necessary, the strategies pre-developed in this way for a variety of scenarios can then be used quickly as an orientation aid.