MARK4210 Class 3 PharmaSim Overview COMPLETE.pdf - Introduction to PharmaSim MARK4210 Spring 2018 Course Roadmap Fundamentals Elements of Marketing

MARK4210 Class 3 PharmaSim Overview COMPLETE.pdf -...

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Introduction to PharmaSimMARK4210 Spring 2018
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Situation Analysis(Customer, Competitor, Company)Market Selection(Segmentation, Targeting, Positioning)Marketing Mix Formulation(Product, Pricing, Distribution, Promotion)-Quantitative Analysis-Consumer BehaviorSimulation GamePharmaSimElements of Marketing StrategyFundamentals ApplicationCourse Roadmap
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PharmaSimA computer-based simulation of the over-the-counter (OTC) cold medicine (OCM) industry.Situation AnalysisSegmentation, Targeting, PositioningMarketing MixFocusing on the core concepts of marketing strategyObjectivesLearn to apply concepts to managing marketing mixLearn to make decisions under uncertainty/ambiguityLearn to navigate through information to make informed judgment
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Four categories:Cold medicines:$880 million in mfrs salesCough medicines: $366 million in mfrs salesAllergy medicines: $126 million in mfrs salesNasal sprays: $119 million in mfrs salesContextOTC Cold Medicines Market
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CompanyConsumer ProductsPharmaceuticalsInternationalOCM Group –Allround BrandAllstar Brands
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CompanyManage the marketing mix for Allround: Pricing, Promotion, Product, DistributionExpand Allstar’s product portfolio with reformulations, line extensions, and new product introductions Manage for 7 simulated years (7 periods)You manage Allstar’sOCM Group
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CompanyBrand Manager(period 5-7)OCM GroupAllround BrandAssistant BrandManager (period 2-5)Brand Assistant(period 0-2)As you get promoted, the level of complexity increases.
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CompetitionALLSTAR BRANDSB&B Health CareCurall PharmaceuticalsDriscol Corp.Ethik Inc- Believe- Besthelp- Defogg- Dripstop- Dryup- End- Extra- Effective- Coughcure-ALLROUND
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CompetitionCompanySales (Millions)BrandsAllstar Brands$355Allround– 4-hr multi-symptom cold liquidB&B Health Care$286Believe– 4-hr allergy capsuleBesthelp– 4-hr cold capsuleCurall Pharmaceuticals$199Coughcure– 4-hr cough liquidDriscoll Corporation$255Defogg– 4-hr allergy capsuleDripstop– nasal sprayDryup– 4-hr cold capsuleEthik Incorporated$395Effective– nasal sprayEnd– 4-hr cough liquidExtra– 12-hr cold capsule
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Competition (Market Share)%Cold%Cough%Allergy%Nasal%TotalMfr. Sales (M$)879.7366.4126.1119.11491.2
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