PharmaSim Project Essay

The objectives and goals of Allstar be to mien for new opportunities in emerging market place with support from healthy and growth cash flow, to introduce new fruit, to maintain leadership and to maintain long-run profitability and market share in an increasingly competitive and changing environment. Certain measurements are introduced to weight the success and progress of the objectives such as feedbacks from customers and retailers, keeping tracks on our merchandise report and purchasing and analyzing the marketing look into reports. With increasing budget Allstar has, high market share in inhuman category and leadership in this market are promised. Limitations on product line as Allstar does not manufacture any medicines in the plain of cough, allergy and nasal category but frigid in facile form have a huge concern from end-user point of view.As for the customers of Allstar, they have a great need in OTC cold remedy market. Consumers have negative attitude toward alc ohol in the drug formulation and Customers think enclose is to a greater extent convenient than liquid form. some(prenominal) options to react to the current situation including reformulation or line backstages in call of formula, increasing sales forces, gaining more support from retailers to get pause shelf space placement and promotional programs, issuing more coupons to move re barter fors to mend our retention rate and adjusting sales force allocation and promotion system according to consumers shopping habits. packagingal allowance, product turnover, sales force support, cage advertising allowances, discount volume are effective ways to motivate collaborators to help us achieve our goals. Our direct channels are autarkic drugstores, chain drugstores, grocery stores, contrivance stores, mass merchandisers and wholesalers, merchandisers, detailers are indirect channels. We are facing three options to move about product line extension 4- minute of arc cold liquid for children, 12-hour multi-symptom capsule and 4 hour cough liquid.Customers notes stick out negative attitude toward alcohol in the drug formulasCapsules are more convenient than liquid formCompetitors notesPrimary competitors B&B healthcare, Curall Pharma, Discol potbelly and Ethik Inc Cold remedy market appears to be fastest growing marketWe could react and respond with reformulation, line extension, sales force changes and or adjustments on pricing and promotion strategies bridle-paths notesIndependent drugstoreschain drugstoresgrocery storesconvenience storesmass merchandiserswholesalersProducts notesAllround- a cold medicine that cures most conditions, but is in general targeted at cold sysmptoms Allround+- all the benefits of Allround product but in a twelve hour capsule. Targeted at those who cannot take the dose of liquid all four hours Allright- cold spray, for those who prefer over liquid or capsule form.Possible Goals / ObjectivesIncrease market share of current market to a specific % by the end of a specific hitch seduce a new product that is targeted toward children by a specific period Increase stock price to a specific figure by a specific period To cast up net income by a certain figure over a specific period To improver brand awareness by a specific percentageTo increase customer satisfaction by a specific %To keep promotional allowance above a certain %Questions regarding assignments / strategies for completing projectHow get out we meet to contend projectHow and who will be responsible for fashioning and entering decisions Roslyn iscurrently responsible for entering final decisions How and who will be responsible for analyzing from each unmatched round of decisions We should purchase research reports and assess if each report is helpful, so we can determine how to use the reports, how often we should purchase the reports.Price of reports come out of your budgetsHow and who will be responsible for find strategy for each round of dec isions How and who will be responsible for account book keeping during the duration of the excuse Keeping track of not only what we did, but also why we did it, and what results we concluded from them How do we construe the scripted paper, what will it includeDecisionsAnalysesResultsMarketing activitiesLessons learnedSummary minds for breaking up the projectEach police squad ingredient will choose one marketing objective and handling everything for itPrice comparisonsMarket demandChannel anlsysisChoosing one aspect of paper and focusing on all products and competitors so the material is available when the time comes to write the paperPricingMaketingPromotionFocusing on certain competitors and handling everything unmatchable handles Allround products and other team divisions divide up the competitorsEach team member keeps notes on slaying and positioning of competitorsIdeas for organizing the power point presentationIdea 1One slide for strategies/decisions that we used that w ere effective and whyDescribing what we believed were critical during the simulationWhat breeding or research led you to make each decision exempt why they were effectiveSecond slide for strategies/decisions that could have gone better and why diagnose one or two missteps we would like to go back and changeDescribe why these decisions were not idealDescribe their negative impactThird slide to identify one marketing principle that the simulation reinforcedHow the importance of this principle was highlighted by the simulation Fourth slide for reviewing our original marketing planHow well we did boilers suitIf we revised our plan during the simulation and what helped us do so Idea 2One slide per marketing objective and would discuss heterogeneous aspects of it Idea 3Each team member defines what they would like to discuss and formulates one slide each.The final slide from each team member would have to be agreed upon by each team member to avoid overlapping materialIdeas for organiz ing the final paperWhat do we envision the paper to includeMarketing objectives pulverisation analysisMarketing activities per year DecisionsYearly ResultsOverall performance metricsLessons learnedSummarySWOTStrengthsAllround is the most purchased brandAllround products control shelf space as compared to competitors full(prenominal) customer satisfactionWeaknessesLimited marketing budgetHigh cost of goods soldDistributors allowance are highOpportunitiesProducts are heading toward the remotion of alcohol from formulationThere are no 12 hour multi-liquid products on the marketA cheaper bargain product could be safe to address price criteriaThreatsEnd dominates the cough marketOver concentrated markets, many other companies distribute similar products