Introduction to pharma sim

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  • 1. Introduction to PharmaSim Marketing 3349 March 18, 2008
  • 2. Purposes of PharmaSim
    • To introduce and reinforce the logical process of marketing planning
      • Situation analysis and assessment
      • Development of integrated plans – linking strategic and tactical decisions
      • Monitoring and evaluating results; using lessons learned in subsequent planning cycles
  • 3. Purposes of PharmaSim
    • To understand that the keys to profitability are market driven and customer-focused decisions
    • To learn by doing in a low stakes environment
  • 4. PharmaSim Decision Process
    • Situation Analysis
    • Identification of Problems and Opportunities
    • Identify and Evaluate Alternatives
    • Make Decisions
    • Monitor Results
  • 5. PharmaSim Environment
    • Similar to the United States in the Early 1990s
      • Population = 250 Million
      • GNP = 2% per year
      • Moderate Inflation (2-4%)
      • Over 80% of the population suffered from some cold-related symptoms in the past year
      • OTC cold-medicine retail sales = $2B with growth of 4% per year
      • 5 companies competing in the industry
  • 6. Competitive Companies Allstar Brands $355 Allround, 4hr cold liquid B&B Health Care $286 Believe, 4hr allergy capsule Besthelp, 4hr cold capsule Curall $199 Coughcure, 4hr cold capsule Driscoll Corp. S255 Defogg, 4hr allergy capsule Dripstop, nasal spray Dryup, 4hr cold cpasule Ethik Inc. $395 Effective, nasal spray End, 4hr cough liquid Extra, 12 hr cold capsule Company Sales Brands
  • 7. Basic Consumer Needs
    • Relief of Symptoms
      • Aches and Fever--------------Analgesic
      • Runny Nose-------------------- Antihistamine
      • Nasal Congestion-------------Decongestant
      • Cough---------------------Cough Suppressant
      • Chest Congestion-------------Expectorant
      • Allergy Symptoms------------Antihistamine
      • Trouble Sleeping--------------Alcohol
  • 8. Produce Attributes Affecting Basic Consumer Needs
    • Side Effects
      • Drowsiness, Upset Stomach, Alcohol
    • Form
      • Capsule, Liquid, or Nasal Spray
    • Duration
      • 4 to 12 hours
    • Price
      • MSRP, Discounts, Channels, Promotions
  • 9. Consumer Buying Behavior
    • Is Based on:
      • Illness/Symptoms
      • Age
      • Day vs. Night Use/Work vs. Home Use
  • 10. Consumer Purchase Process
    • Awareness
    • Intention to Buy
    • In-store Attractiveness
    • Purchase
    • Post Purchase Usage/Satisfaction
    • Repurchase
  • 11. Segmentation Process
    • By Illness
      • Cold
      • Cough
      • Allergy
    • By Demographics
      • Young singles
      • Young Families
      • Mature Families
      • Empty Nest
      • Retired
  • 12. Distribution Options
    • Retail Outlets
      • Independent Drugstores------------ 22% of sales
      • Chain Drugstores----------------------28% of sales
      • Grocery Stores------------------------37% of sales
      • Convenience Stores-------------------4% of sales
      • Mass Merchandisers-------------------9% of sales
  • 13. Distribution Options
    • Considerations for Shelf Space, Stocking & Sales Force:
      • Margin earned per unit
        • [volume discounts and promotional allowances]
      • Sales volume and turnover rates
      • Sale Force Influences
        • Direct and indirect
      • Co-op advertising funds
      • Other promotional activity
  • 14. Preliminary Questions
    • Who is the likely Allround Customer?
      • Their likely purchase process
      • Marketing mix elements-most effective
    • What advantages does Allround brand offer?
    • Who are Allround’s competitors?
  • 15. Preliminary Questions
    • What do you think of Allround’s pricing?
      • How many units to maintain net contribution at $5.00 or $5.60
      • What are the advantages of a higher price, lower price?