I installed Ubuntu in VMware player and below are the the screenshots and short desctiption of the steps involved. Hope this helps people seeking information on creating a virtual machine in VMware player
Install VMware player and open it.
Create a new virtual machine and choose "installer disc image file(iso)" option
Browse the ubuntu's image (.iso) file
Fill the necessary info
Specify the disc capacity for the virtual machine (Ubuntu) and click next
and click Finish