MARK4210 Class 11 PharmaSim Decision Making Spring 2019.pptx - PharmaSim Decision Making MARK 4210 Professor Eugene R Raitt Spring 2019 1 Course Roadmap

MARK4210 Class 11 PharmaSim Decision Making Spring...

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PharmaSim Decision MakingMARK 4210 Professor Eugene R. Raitt Spring 20191
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Situation Analysis(Customer, Competitor, Company)Market Selection(Segmentation, Targeting, Positioning)Marketing Mix Formulation(Product, Pricing, Distribution, Promotion)Quantitative AnalysisConsumer BehaviorSimulation GamePharmaSimElements of Marketing StrategyFundamentals ApplicationCourse RoadmapMARK 4210 Professor Eugene R. Raitt Spring 20192
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Mid-Term ExamWhen:March 21 (Wednesday) 7:30-8:50pm (no lecture during the day)Where:TBAWhat:Covers up to STP (including STP)How: Open-notes, bring a calculatorShort scenario questions MARK 4210 Professor Eugene R. Raitt Spring 20193
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MARK 4210 Professor Eugene R. Raitt Spring 20194Marketing PlanningSituation AnalysisUse company reports and marketing researchto better understand your current position.Uncover problems and opportunities.Marketing SelectionHow will we segment the market? What are the characteristics of each segment?Who and how should we target?Marketing MixSpecifics decisions: products, price, sales force, promotion, advertising budget and message?
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MARK 4210 Professor Eugene R. Raitt Spring 20195Nature of DemandWhat benefits do they want?Where do they buy?What criteria do they go by?Extent of DemandMarket size and growthMarket penetration and average usageAnalyze on both an aggregate level and a segmented basisSituation Analysis: Customers
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MARK 4210 Professor Eugene R. Raitt Spring 20196Track your competitors’ marketing mix decisions and competitive position.Whether you should benchmark with your competitor or not? Situation Analysis: Competitors
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MARK 4210 Professor Eugene R. Raitt Spring 20197Think about your productsHow well are they doing? eg sales, market share, contributionHow do your consumers perceive your products? eg brand awareness, perception, satisfactionYour budget is based on your overall performance in the last period.Leftover budget is only carried over to next period as net income (not carried over to new budget)How well is your management team doing? How do you divide workload? How do you make decisions?Situation Analysis: Company
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MARK 4210 Professor Eugene R. Raitt Spring 20198Segmentation, Targeting, PositioningSegmentationLife stage and benefits soughtWhat are the characteristics of different segments?
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