Pharmasim EssayWhat Did We Learn From Pharmasim?
In our experience with Pharmasim we learned that Marketing decision making must be very sensitive and responsive to everything going on in the industry which is very complex. Consumer responses to marketing tactics can be volatile and unpredictable and no idea is guaranteed to work well. Marketing is a matter of meticulous research, assumptions, planning, and volatility at times. Overall we took away two major points: 1) that it is important to consider the product lifecycle in evaluating how to promote businesses and, 2) that the “Sweet Spot” as a competitive advantage should be the greatest point of consideration when evaluating how to best gain leverage to beat the competition in the minds of consumers. …show more content…
Period Zero to One
Period One to Two
Period Two to Three
Period Three to Four
Period Four to Five
During this Period We decreased the price of our product from$ 5.45 to$ 5.29 to be more competitive in compare to our rivals and increased the sales force in chain drugstores and Grocery stores since they were receiving more sales than the other channels. As a result we increased our sales $29 million.
Period Five to Six
Although the inflation rate was 3.6% we decide not to make any changes in the price and we kept it as what it was $5.29. In this period Ethik announced the introduction of End+ which was$ 5.69 but we still decided to keep our price for Allround+ $4.99 .The prices of Allround and Allround + should have been increased in correlation to inflation .Our stock price went down from $39.32 to $35.14 per share. We purchased sales force, advertising, promotion, channel sales and pricing reports to help us with our decisions in this period.
Period Six to Seven
In this Period our stock price drastically went down from $35.14 to$ 25.61The BCG Matrix which is an analytical…
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and co-op advertising allowances. In general, large grocery stores, mass merchandisers, and chain drugstores were more apt to focus on turnover and allowances, whereas independent drugstores paid greater attention to sales force support." (The PharmaSim Case, p 15) In addition, mass merchandiser sales showed the greatest growth so the following decisions were made. Period 0 Decisions Growth (%) Independent Drugstores 6 11 0.3 Chain Drugstores 28 18 4.5 Grocery 43 33 5.5 Convenience 3 8 4…