PharmaSim Project Essay

The objectives and goals of Allstar are to look for sunrise(prenominal) opportunities in emerging merchandise with support from healthy and festering cash flow, to introduce new crossroad, to wield leadership and to maintain long-term profitability and commercialise 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 market report and purchasing and analyzing the merchandise research reports. With increasing budget Allstar has, high market share in wintry category and leadership in this market are promised. Limitations on product line as Allstar does not manufacture any drugs in the area of cough, allergy and nasal category but cold in liquid family rich person 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 negat ive berth toward alcohol in the drug formulation and Customers think capsule is more than convenient than liquid form. some(prenominal) options to react to the current situation including reformulation or line extensions in terms of formula, increasing sales forces, gaining more support from retailers to get better shelf space placement and progressal programs, issuing more coupons to cause repurchases to improve our retention rate and adjusting sales force allocation and promotion strategy according to consumers shop habits.Promotional valuation reserve, product turn everyplace, sales force support, co-op advertising allowances, discount volume are legal ways to motivate collaborators to help us achieve our goals. Our direct channels are independent drugstores, range of mountains drugstores, grocery stores, convenience stores, mass merchandisers and wholesalers, merchandisers, detailers are indirect channels. We are facing three options to move near product line extension 4-hour cold liquid for children, 12-hour multi-symptom capsule and 4 hour cough liquid.Customers notes arouse negative attitude toward alcohol in the drug formulasCapsules are more convenient than liquid formCompetitors notesPrimary competitors B&B healthcare, Curall Pharma, Discol Corp 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 strategiesChannels notesIndependent drugstoreschain drugstoresgrocery storesconvenience storesmass merchandiserswholesalersProducts notesAllround- a cold medicine that cures near conditions, but is mainly targeted at cold sysmptoms Allround+- all the benefits of Allround product but in a 12 hour capsule. Targeted at those who merchantmannot take the dose of liquid every four hours Allright- cold spray, for those who prefer over liquid or capsule form.Possible Goals / ObjectivesIncrease market share of cur rent market to a particularized % by the end of a specific period Create a new product that is targeted toward children by a specific period Increase stock price to a specific visit by a specific period To increase net income by a indisputable digit over a specific period To increase 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 bearHow get out we meet to discuss projectHow and who will be creditworthy for making and entering decisions Roslyn iscurrently responsible for entering final decisions How and who will be responsible for analyzing separately round of decisions We should purchase research reports and assess if from each one report is helpful, so we can determine how to use the reports, how often we should purchase the reports.monetary value of reports come out of your budgetsHow and who will be responsible for determini ng strategy for each round of decisions How and who will be responsible for record keeping during the length of the simulation Keeping track of not only what we did, but also wherefore we did it, and what results we concluded from them How do we envision the written paper, what will it includeDecisionsAnalysesResultsMarketing activitiesLessons learnedSummaryIdeas for breaking up the projectEach team member 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 everythingOne handles Allround products and other team members divide up the competitorsEach team member keeps notes on performance and positioning of competitorsIdeas for organizing the power point presentationIdea 1One slide for strategies/decisions that we ut ilize that were effective and whereforeDescribing what we believed were critical during the simulationWhat information or research led you to make each decisionExplain why they were effectiveSecond slide for strategies/decisions that could have gone better and whyDescribe 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 superior marketing planHow well we did overallIf we revised our plan during the simulation and what helped us do so Idea 2One slide per marketing objective and would discuss various 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 vacate overlapping materialIdeas f or organizing the final paperWhat do we envision the paper to includeMarketing objectives deck up analysisMarketing activitiesYearly DecisionsYearly ResultsOverall performance metricsLessons learnedSummary work upStrengthsAllround is the most purchased brandAllround products control shelf space as compared to competitorsHigh customer satisfactionWeaknesses limit marketing budgetHigh cost of goods soldDistributors allowance are highOpportunitiesProducts are armorial bearing toward the removal of alcohol from formulationThere are no 12 hour multi-liquid products on the marketA cheaper bargain product could be beneficial to address price criteriaThreatsEnd dominates the cough marketOver saturated markets, many other companies distribute similar products