MARK4210 Class 11 PharmaSim Decision Making [Compatibility Mode

PharmaSim Decision Making MARK4210 Spring 2017

Situation Analysis (Customer, Competitor, Company) Market Selection (Segmentation, Targeting, Positioning) Marketing Mix Formulation (Product, Pricing, Distribution, Promotion) -Quantitative Analysis -Consumer Behavior Simulation Game PharmaSim Elements of Marketing Strategy Fundamentals Application Course Roadmap

Mid-Term Exam square4 When: March 10 (Friday) 7:30-8:50pm (no lecture during the day) square4 Where: LTB square4 What: Covers up to STP (including STP) square4 How: Open-notes, bring a calculator Short scenario questions

Marketing Planning Situation Analysis Use company reports and marketing research to better understand your current position. Uncover problems and opportunities. Marketing Selection How will we segment the market? What are the characteristics of each segment? Who and how should we target? Marketing Mix Specifics decisions: products, price, sales force, promotion, advertising budget and message?

square6 Nature of Demand square6 What benefits do they want? square6 Where do they buy? square6 What criteria do they go by? square6 Extent of Demand square6 Market size and growth square6 Market penetration and average usage square6 Analyze on both an aggregate level and a segmented basis Situation Analysis: Customers

square6 Track your competitors’ marketing mix decisions and competitive position. square6 Whether you should benchmark with your competitor or not? Situation Analysis: Competitors

square6 Think about your products square6 How well are they doing? eg sales, market share, contribution square6 How do your consumers perceive your products? eg brand awareness, perception, satisfaction square6 Your budget is based on your overall performance in the last period. square6 Leftover budget is only carried over to next period as net income (not carried over to new budget) square6 How well is your management team doing? How do you divide workload? How do you make decisions? Situation Analysis: Company

Segmentation, Targeting, Positioning square6 Segmentation square6 Life stage and benefits sought square6 What are the characteristics of different segments?