Pharmasim Project

Topics: Brand, Brand management, Product management Pages: 11 (3960 words) Published: July 6, 2011
Pharmasim Project
1.Executive Summary
The over-the-counter (OTC) cold and allergy remedy market was highly competitive. There were already 10 brands targeting in different segments at the beginning of the simulation. OTC cold medicine is effective to cure 3 major types of illness - cold, cough and allergy which associate with different symptoms like aches, nasal congestion, chest congestion, runny nose, coughing and allergy. Consumers can be segmented by young adult, young family, mature family, empty nester, retired. The products were sold to consumers in various channels including independent drug stores, chain drugstores, grocery stores, convenience stores and mass merchandisers. Our mission was to make use of product mix, sales force allocation, advertising and promotion in order to maximize the profit of the company ALLSTAR. We aim at market leader in terms of net income, market share, shelf space and stock price. We also treat customer perception and satisfaction as our key performance indicators. We particularly paid attention to our product portfolio so that there is one core product with stable financial performance to support future new product promotion. Our product portfolio includes 3 brands called ALLROUND, ALLROUND+ and ALLRIGHT and each brand focuses on different market segment with clear differentiation in order to minimize the cannibalization effect. ALLROUND is a core product targeting both cold and cough illness and also a market leader throughout all 8 periods. It successfully acted as a Cash Cow to sustain the growth of the company. In Period 4 we had a product line extension ALLROUND+ to capture part of price sensitive cold market. In Period 6, we decided to enter the allergy market by launching a new product called ALLRIGHT with unique drowsiness free feature. Since then, ALLSTAR product series covers all the OTC market. In order to achieve our target by the end of 8 periods, we formulated our strategies in 4 different area, product, price, promotion and place according to the need of different stage. In stage 1, marketing strategies targeted to strengthen the market leading position of ALLROUND and made it as our core product, so marketing mix was used to grow the market share as our top priority. In stage 2, strategies focused on promotion of the line extension ALLROUND+ and also profitability of the core product ALLROUND. In stage 3, we aggressively invested in promoting the new product ALLRIGHT by emphasizing her unique features among the competitors in allergy market. Marketing mix also targeted to increase the brand switching ratio of all our products so as to contribute the expansion of market share. We are proud of our performance because we accomplished all the objectives set before the simulation. However, we also encountered some problems like low retention rate of ALLROUND and unsatisfied growth and market share of ALLROUND+. We will discuss all of this in this report and make our recommendation to the next brand manager. 2.Objective and Overall Strategies

We aim to out-perform the other brands in the OTC cold and allergy remedy market. We strive to achieve the first position in net income, accumulative net income, stock price, share in manufacturer sales, shelf space by the end of Period 8. We also determine to create a core product targeting the cold and cough illness which represented the majority of the market segment in order to support the financial need for company’s future development. We also target our core product ALLROUND to be the number one in brand awareness, customer satisfaction and brand perception. In order to achieve the objective, we formulate our strategies according to the need of different stage. Stage 1: Period 1 – 3

The goal of this stage was to build up the brand image of ALLROUND as a multi-functional medicine for cold and cough which accounts for a major share of the market. It was a critical stage to make ALLROUND as a core...
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