If we had the chance to redo the Pharmasim simulation we would do the following:.
First, theAllstar brand had a limited product line compared to the competitors, specifically when it cameto the allergy market.
The consumer awareness and satisfaction were key drivers of our efforts as thesefigures were indicative of future sales.
Marketing is a matter of meticulous research, assumptions, planning, and volatility at times.Are Mobile Medical Apps Good for Our Health?We decided to spend more money on advertising Allround and Allround so we allocated10 million on Allround advertisement and a budget of 12 million on Allround advertisment.This also meant that much of our business was being done before the product reachedthe consumer.Brand Awareness increased from.1 in period 1.4 in period 10for the Allround product with over a 51 retention rate.Most importantly, if young families wereattracted to Allrounds products and could be retained, this segment would have the greatestlifetime stomers want a quality product that will deliver effectiveness at a reasonable price which weprovided for them.Show More, no Downloads, no notes for slide.Allrounds market share in allergy product category was 0 in theopening period.
The results of our trial and errorapproach, and later refinement, were supported by business intuition, marketing strategy andinformation from the case.
At the end of period 2 when we removed the alcohol from ouringredients we saw a huge increase in consumer satisfaction from 58 to 66 which wemaintained for the most part through the 10 periods.
With increasedbudgets in later rounds, we had the additional funds to use BMW, the Tier 1 advertising firm.
Aches Nasal Chest RunnyNoseCough Rest All Message StrategyThe company possessed some weaknesses at the beginning of the simulation that contributed toour brand strategy, but we chose to focus on these weaknesses more as opportunities.
Our initial approach to staffing wasto focus our sales force on two of the indirect channels, which had proven successful in our trialperiods.With changing market conditions and strongcompetitors, their relatively decent market share and brand recognition were not enough tosustain and increase sales revenue and net income.We strongly believethat being the first to introduce this new product had a profound impact on our sales.Customers not only wanted to avoid over-medicating butadvertising results showed there gifts for people who like glitter was little interest in the benefit of sleep Period 4, we chose not to move forward with the line extension known as Allround.That being said, there were a number of strengthsand weaknesses to the company both before and during this simulation that contributed to andinfluenced lids online coupons 2015 our brand strategy.The case specifically states that the industry had recently seen several productintroductions as well as major increases in promotional and advertising expenditures.This trendhelped us focus on the consumer by providing appropriate awareness primarily in grocery storesand drug chains.We used Sully and Rogers, the Tier 2 advertising firms in the starting periods.