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MKT PharmaSim 2007 (IM, CMMU)

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Information about MKT PharmaSim 2007 (IM, CMMU)

Published on October 15, 2007

Author: escribitionist

Source: slideshare.net

Description

Presentation related to PharmaSim (simulator on marketing)
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PharmaSim

Member 4949273 Nuttaya Rojsanyakul 4949276 Thanapon Pridasawat 4949278 Nalinrat Pongchaiyong 4949281 Rachain Tiraratchailert 4949282 Sompol Lertmaneetaweesup 4949284 Supak Chaivanit

Objective To be the leader in the pharmaceutical industry with Highest market share Highest net income Highest stock price

Agenda Period Analysis Marketing Mix in Pharmasim Final Result Lesson Learned

Period 0-3

Strategy Period 0 -3 • Continuously increase price • Continuously increase Sales Force • Reformulating Allround Drop alcohol in Allround

Strategy Period 0 -3 • Continuously increase price • Continuously increase Sales Force • Line Filling with Allround+ Product - Allround+, 12 hrs multi capsule Price – Lower than Allround Place – Follow the Allround Channel Promotion - Medium-rated ad agency - Focus on Primary and Benefit - Offering trial size

Period 4-6

Situation Analysis Period 4 - 6 Industry: • Industry growth average 9% per year Competitors • launch product to fulfill the available segment Customer: • Perception of customer change (with graph) • Criteria in choosing change, side effect become more concern • Recommendation on the product that use less formular, specific

Situation Analysis Period 4 - 6 Competitor: • Launch new product • Change formula to target the same segment Action: • Change formula to reduce side effect • Can ad new product • Change target from age to symptom

Situation Analysis Period 4 - 6 Action (con’t): • To prevent cannibalize, all 3 product will focus on different segment: Cold, cough, Allergy • Maintain advertising, stress reminder on Allround, Primary on Allright • Promotion give trial on new product, use coupon to stimulate sales of maturity product • Change advertising message corresponding to target segment

Situation Analysis Period 4 - 6

Situation Analysis Period 4 - 6

Situation Analysis Period 4 - 6

Period 7-8

Situation Analysis Period 7-8 •Averaged population growth 0.7% •Averaged inflation rate 4.35% •Highest percentage of decision making criteria for cold and allergy: Product effectiveness •Highest percentage of decision making criteria for cough: Price •Allround still had the highest market share in cold segment, following by Besthelp

Challenge Period 7-8 •Curall launched Coughcure+. •To gain Allergy market share from Believe by Allright. •To gain market share in Cough segment.

Strategy Period 7-8 Product:- •Allround reformulation to meet the customers’ requirements, and beat with Coughcure+ •Allround also got a good perception from customers according to the survey.

Strategy Period 7-8 Product:- •Invest more in promotions for Allright.

Strategy Period 7-8 Price:- •Set price in accordance with the inflation rate Place:- •Grocery store and Chain drugstores

Strategy Period 7-8 Promotion:- •Sent messages via advertising to remind customers of Allround brand (55%) in period 7, and even higher focus (75%) in period 8 •Focused on Allround+, the product, benefits in order to introduce to the market/ customers

End of Period 7-8

Period 9

Situation Analysis Period 9 MFG Sales 1188.9 Net Income 290.3

Situation Analysis Period 9 1 Become number one in the market

Situation Analysis Period 9 Allround drops to cash cow & still maintain large market share Allround+ half enters to dog Allright is going to move to star

Strategy Period 9 Increase more advertising budget Add more ‘Reminder’ to advertising message Increase coupons promotion to gain more repurchase customer Continue increase in sales force

Period 10

Situation Analysis Period 10 MFG Sales 1397.3 Net Income 360.7

Situation Analysis Period 10 Manufacturing sales and net income are continuously increasing

Situation Analysis Period 10 Highest Sales in market in both Retail and MFG. Highest Stock price

Situation Analysis Period 10 Highest Market Share in Cold and Allergy

Marketing Mix

Marketing Mix Product Product • Line Filling • Reformulation • Cannibalization Prevention

Marketing Mix Price Price • Gradually increase price every year – to maintain a good perception of product with good quality • Increase amount must cover inflation

Marketing Mix Place Place • Choose distribution channel according to main customer buying behavior

Marketing Mix Promotion Promotion - Advertising • Keep the same budget through out the same period • New Product launch – the ad will focus on 1) Primary 2) Benefit • Through out period – the weight on Primary decrease and increase more on Benefit and add with Reminder

Marketing Mix Promotion (Cont.) Promotion –Trial Product • Trial Product will be offered for new Promotion – Coupon • Coupon will be offered more after the trial period has finished to promote consumer to purchase the product.

Final Result

Final Result Allround and Allround+ succeed in the Star

Mission Success !! Highest market share Highest net income Highest stock price

Lesson Learned

Lesson Learned To Balanced Promotion Expenditure • Advertising • Promotion • Sales force Price Sensitivity • If below tradeoff, gradually raise • If above tradeoff, gradually lower

Lesson Learned Reformulation • Requires scientific research and consumer reasoning gradually Price Vs Inflation • The prices of product should all be increased annually, in correlation to inflation. • Check all competitors if there is the same product and analyze before setting price

Lesson Learned Channel of sales • One way to figure out how to disperse direct sales force is to buy the channel of sales report • Divide the sales in each category by the total sales and multiply that number by the total number of people in the sales force

Lesson Learned Segmentation • It is important to segment the market and focus products on under-utilized market segments. Customer Satisfaction • It is essential to be customer-oriented • Use trial size for new launched product • Use coupon to reminder brand

Thank You

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