PharmaSim Final Report

College
Lab Report
Marketing
Pages 6 (1506 words)
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PharmaSim Report OCM Group – Allstar Brands Jian Qin PharmaSim Report OCM Group – Allstar Brands Introduction The objective of PharmaSim exercise was to manage the over-the-counter cold medicine brand for the pharma group Allstar Brand Corporation. Throughout the ten-periods, our team acted as brand managers for OTC cold medicine and made marketing decisions to increase the market share…

Introduction

A Marketing plan or strategy must describe the key or augmented product characteristics and the kind of benefits they provide to the customer, the pivotal price that bounds company profitability yet providing value for money for the customer, tempting promotions that wil attract people to buy the product and a sound distribution and placement strategy to create access for the customers. Rationale for each product (reformulations, line extension, new product) decisions Allround provides multi-symptom cold relief in liquid form. The product is primarily composed of Analgesics that provides relief for aches and fever. Amongst its competitors, Allround has the best combination of Analgesics, Decongestants and Cough suppresants. The product duration is 4 hours. What target market you chose for each product and why? Our target market segments was basically the retired segment where Allround had the most penetration and the largest (30%) market share. The prime reason for the selection of this market was the fact that they are most prone to body aches due to ageing. Since Allround product had the most amount of Analgesic, it was more suitable for aches and fever than cold symptoms. ...
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