Pharmsim Simulation Paper. This Paper Shows, How To Implement The Marketing Strategies In Pharmsim Simulation.

2401 words - 10 pages

EXECUTIVE SUMMARYI. Mission StatementAll-star Brands Corporation is one of the leading manufacturers of packaged goods in the world. The Pharmaceutical Division manufactures and markets both ethical and over-the-counter (OTC) medications to help improve human health. The mission of All-star is to provide both the consumer portion of the market, with products that help improve human health and also the internal environment of All-star. We are striving to produce cutting edge remedies for the common cold and allergy symptoms, while maintaining the highest market share, with opportunities and beneficial work with a satisfying yield of return.II. Marketing ObjectivesThe objective of the All-star marketing plan in the upcoming 12 months is to:Invest in adding products such as Alright.Increase Sales Force from 174 to over 200.Maintain promotional allowance since Brand Awareness is high--increase if necessary, depending on retention ratio.Consider reformulating product with available ingredients to better suit consumer needs.Increase All-Round+ Brand Awareness from 51.0% to 70% within the next two years.To increase All-Round Brand Awareness back to the top spot.To increase Brand Trial for All-Round+ from 7.4% to 20% within two years.Increase the stock price 27.17 to somewhere over fifty in the next two years.Increase Utilization from 77.7% to 87%.Increase Gross Margin from $192 to around $250(in millions).III. SWOT ANALYSISStrengthsAll-Round is the leading product in the cold and allergy market. All-Round has the second highest Brand Awareness, high percentage of Brand Trials, and a high customer retention ratio. All-Round obtained the highest conversion ratio. All-Round promotions have allowed the consumers to become familiar with our product, enabling us to cut back on our advertising expenses.All-Round+ has one of the highest customer retention ratios. Coughing and chest congestion were the two leading symptoms. All-Round+ has an expectorant in it which helps clear up chest congestion, which is one of the highest reported symptoms. All-Round + does not have alcohol as an ingredient, which is appropriate for customers who want to avoid feeling drowsy after taking the medications.WeaknessesSpecial attention needs to be given to the strategic planning of the product. Hasty decisions must be avoided. A thorough understanding of the market, the leading competitors, and how to effectively allocate the money provided in the budget will help determine a strategic plan for marketing All-Round. All-Round is in the maturity stage and quickly coming to the declining stage. All of these issues need to be taken into consideration because it has a direct effect on the stock price and net income of the company. Currently, our stock price and net income are low; these need to be raised and it can only do so by having a clear cut strategic plan in place.All-Round + has low brand trials at 7.4 %, which needs to increase rapidly. It also has low conversion ratio,...

Find Another Essay On Pharmsim Simulation Paper. This paper shows, how to implement the marketing strategies in Pharmsim simulation.

Java the Hut Simulation Paper

1062 words - 5 pages result in a decrease in customer satisfaction. When you hire more employees and give all of them good training, you are able to get a group of people who truly care about the brand, its customers, and each other. This is what we did here at Java the Hut and it really shows in our rankings with our competitors. When we initially set out with period one, we made sure to conduct a SWOT analysis to compare ourselves to our competition. We saw that our

"Thinking Critically" Simulation Paper

1226 words - 5 pages the opportunity to learn from errors and, instead of receiving a poor performance review, try again until getting it right. This paper explains the tools and techniques used by the writer, acting as manager of the store in the simulation, to make decisions while using the simulation, discusses key points emphasized, and documents the lessons learned.Tools and TechniquesThe initial task faced by the young Credenhill protegé, newly assigned

International Trade Simulation Paper

830 words - 3 pages The purpose of this paper is to illustrate the concept of international trade. The simulation on international trade incorporated many of the concepts found in the readings on international trade for this week?s assignments. The simulation required that there is an understanding of the significance of free trade and the various advantages and disadvantages of trade restrictions of any kind. The delicate balance that must be maintained between

Simulation Paper Two:

1903 words - 8 pages on the lake, first had to be agreed with the committee. The first day of the Simulation Game The State of 21-23 Wise Monkeys was using the identity principle, as I assumed in the first simulation paper. They gave up their interests of fishing on the lake and instead took money from their budget to keep the fishermen of their state satisfied. The S. P. I. N. A wasn't fishing the first five rounds of as well. But they were economically much

Express Espresso Simulation Paper

1137 words - 5 pages Business can be learned in many different ways. One of the best ways to learn how to run a business is through experience. Even if that experience is just a simulation, it helps to give new perspective and helps one see how a business might be run in actual life. The BizCafe simulation is one such tool that is useful for acquiring knowledge and experience of how a business is run in the real world, rather than just reading about it. This

Supply and Demand Simulation Paper

1195 words - 5 pages increases as the price decreases. The demand curve for any product is an imaginary line at a point in time. This tells one the quantities consumers would demand at various prices of the product (Colander, 2004, p.93).The changes in the supply and demand simulation are caused by the student's input according to the supply and demand factors of that particular scenario which then leads to less revenue for the company or less occupancy of the rental units

International Trade Simulation paper: Advantages & limitations of International Trade; four key points in readings; apply what learned from simulation to workplace; Concept Summary results

891 words - 4 pages trade. This shows a disadvantage for international trade but only due to decisions made to better the originating country.While the president of Rodamia was a proponent of free trade, there are still situations that restrictions are needed for the country's benefit. Times such as preventing dumping or protecting a developing industry are two examples but in most cases, free trade is preferred as it benefits every country involved. This theory can

Applying ANOVA and Nonparametric Tests Simulation Paper

567 words - 2 pages cover what concepts and analytic tools I may be able to use at my job. Finally this paper will recommend additional information I might recommend to the key decision maker in the simulation to solve the challenge given.ANOVA or analysis of variance has the assumption that each population under analysis is of normal distribution, errors are unsystematic and independent from one another and all populations have the same variance (University of

This paper explores consumer receptiveness to Bluetooth delivered advertising in the paper titled, 'Next Generation Mobile Marketing: How Young Consumers React to Bluetooth-Enabled Advertising'

640 words - 3 pages Sheena Leek and George Christodoulides explore consumer receptiveness to Bluetooth delivered advertising in their paper titled, 'Next Generation Mobile Marketing: How Young Consumers React to Bluetooth-Enabled Advertising'. Research was primarily based on a five-point 'Likert item' survey designed to assess the frequency of use of Bluetooth applications amongst young consumers, the motives for use, attitudes & perception of young consumers

Evaluating Fiscal Policy Alternatives Simulation Paper

1197 words - 5 pages reducing unemployment.The unemployment rate is "the percentage of people in the economy who are willing and able to work but who are not working" (Colander, 2008, p. G-12). The unemployment rate "gives a good indication of how much labor is available to increase production and thus provides a good idea of how fast the economy could grow" (Colander, 2008, p. 519).Application of ConceptsThe concepts learned from the simulation can be applied in any

This is just a business idea/plan. it has some marketing strategies, and business layout

721 words - 3 pages F.K. RecordsCompany PlanF. K. records is a C.D. recording and producing company. It is being founded by the band French Kiss (mainly guitarist, and drummer). The bases of the company are small bands, marketed to the local fans, that type of thing. Meanwhile we will be expanding and also getting larger bands. This paper goes through our basic business plan.Like I previously stated F. K. Records is in the business of recording and producing

Similar Essays

Perceptual Maps In Marketing Simulation Thorr Motorcycles

981 words - 4 pages disposable income necessary to support the brand.The simulation challenged you as the new Marketing Manager to ascertain CruiserThorr's position in the market and reverse the downward trend.Recommended Solutions, Rationale, and ResultsThe first step in the simulation is to determine the positioning strategy of CruiserThorr using a perceptual map. There are four parameters that must be selected in the simulation. I chose Lifestyle Image, because

Using Perceptual Maps In Marketing Simulation Thorr

1406 words - 6 pages forty percent of the market share. However, Thorr is losing market share and needs to reverse the trend with a new marketing plan (Apollo Group, 2004). This will be accomplished by using a perceptual map.A perceptual map, which is a visual representation of the customer's perception of the brand helps in differentiating a company's marketing from that of its competitors. A perceptual map can have several parameters, which may overlap in their

Using Perceptual Maps In Marketing Simulation: Thorr Motorcycles Mkt / 421 Uop

896 words - 4 pages THORR Motorcycles is a billion dollar company that manufactures motorcycles and also sells clothing products and other consumer items. They sell more than 200,000 units per year and shows continuous growth. They offer services including rider training, motorcycle rentals, dealer training and dealer software packages. The company is known for their high brand image in the market. The purpose of this simulation was to focus on three main

This Essay Is A Budget Simulation Project On Opportunity Costs. It Invovles Alternatives To Raising Taxes Or Increasing City Spending,

521 words - 2 pages projects is completely dependant on the scarcity of money. The scarcity of space affects the child development center and the scarcity of time affects how long we have to make the necessary changes in this city. Things that will help the mayor get re-elected are the choices of what programs to cut, how to solve the scarcity problems, and how to balance the opportunity costs.