I have been struggling with this for days now.
Specs which might be of interest: 64-bit machine with host Windows 7.
All I want to do is get Lubuntu up and running (Light-weight Ubuntu is the idea). I first tried 32-bit versions of VM Player.
Installing VMware Tools has been OK with Ubuntu 15.04 and 14.04: screen resizing, copy-paste between host <-> guest fine. I have tried over and again to get shared folders - it simply does not work. I have done a lot of googling... and followed a lot of what people have said.
Latest thing which leaves me flabbergasted is that I downloaded the latest version of VM Player: "64-bit for Windows". Long story short: VMware Tools does not install, and the tar.gz file is nowhere to be found: Player --> Manage --> Install VMware tools results in *precisely nothing happening at all*. Locating to the CD-ROM drive shows that it is ominously called "Lubuntu 14.0..." (not "VMware Tools...") and the vmware installation tar.gz is NOWHERE TO BE FOUND.
My installation protocol involves running software updater, and then apt-get build-essential. As I say, I have succeeded with the 32-bit VM Players in getting VMware Tools to work... except for the essential shared folders thing.
Latest thinking: maybe I should get a much older version of VM Player. Maybe the latest versions are just not fit for purpose.
I regard myself as quite computery... for years I've harboured this idea of migrating over to Linux. Every few years I make another attempt. But the barriers to quite preposterous for someone working on their own. On an old machine I have Lubuntu running fine. But a VM on my main machine? Gaaah. I despair.
Similar experience here. Tried both VMware Player 6.0.6 and 7.1.1 (x64) on Windows 7 (x64) host and no shared folder access with three Linux guest distributions (Ubuntu MATE 15.04, Mint 17.1 MATE and Xubuntu 14.10). With minimal technical knowledge, but refusing to be denied I was successful in my last attempt with Xubuntu so maybe it will work for you in Lubuntu. Following instructions in these link seemed to overcome whatever was being misconfigured. It's only moderately difficult for a recent Linux adoptee as myself and with your stated background should be a relatively simple fix.