is a direct impact to sales and therefore profitability. Our outlined marketing plan will work to strengthen these relationships and allow for a dialog with the channels that will be invaluable for our organization. It is evident that Allstar Brands needs a detailed marketing plan in order to positively progress in the future. Outlined below are the key areas in a marketing plan as well as suggestions for achieving our marketing objectives. B) Situation and Environment Analysis SWOT Analysis Strengths
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What 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
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PHARMASIM ALLSTAR BRANDS [pic] GROUP 3: Abraham Ipe Josh Zimmerman Natalia Gluschuk Kyle Bickley TABLE OF CONTENTS 1. Mission Statement: Page 2 2. Marketing Objectives: Page 2 3. SWOT Analysis: Pages 2-4 4. Target Market: Page 4-5 5. Marketing Activities: Pages 5-7 6. Lessons Learned: Pages 7-15 a) Year 1 b) Year 2 c) Year 3 d) Year 4
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PharmaSim Project Notes / Tips / Questions / Ideas General Case Notes The objectives and goals of Allstar are to look for new opportunities in emerging market with support from healthy and growing cash flow‚ to introduce new product‚ to maintain leadership and to maintain long-term profitability and market share in an increasingly competitive and changing environment. Certain measurements are introduced to weight the success and progress of the objectives such as feedbacks from customers and retailers
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Marketing Simulation: Managing Segments and Customers Prepare Tab Video Transcripts How to Play Video and Initial Customer Interview Videos “How to Play” Audio Script In this simulation‚ you are the newly appointed CEO for Minnesota Micromotors‚ a medical motors device manufacturer. You must determine the company’s overall marketing strategy and make critical decisions around Minnesota Micromotors positioning relative to ever-changing market segment needs and behaviors. These include setting the
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the data under analysis reveals the changes in pricing strategy over the duration of the 6 simulations. When specific reference is made to the Unit Price it can be noted that for the first 3 simulations the Unit Price for the backpack‚ targeted primarily towards Urban Computers‚ was $45. But‚ in the 4th and 5th rounds of sales‚ the Unit Price was decreased to $34. Lastly‚ in the 6th and final simulation of analysis the Unit Price was decreased to a final price of $28. Analysis of the Price Score
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SECTION 1: THE PHARMASIM CASE ALLSTAR BRANDS’ OTC COLD MEDICINE GROUP: The Allround Brand ALLSTAR BRANDS CORPORATION. . . . . . is one of the leading manufacturers of packaged goods in the world. Since its founding in 1924‚ the company has acquired or merged with a number of smaller packaged goods companies. The management team at the over-the-counter cold medicine (OCM) group of Allstar Brands just completed its third presentation in the past month to the Pharmaceuticals Division manager
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Overview Our company Orange experienced a very successful campaign and grew more profitable over the six quarters throughtout the Market Simulation. In terms of market share in comparison to the competition‚ we placed fourth holding 12 percent market share. We initially targeted the Mercedes market‚ and later developed products aimed at the Traveler and Workhorse clientele. In terms of profitability‚ we suffered a loss moving from Quarter 1 to Quarter 2‚ which is typical of most early-stage companies
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Pharmasim Project 1. Executive Summary The over-the-counter (OTC) cold and allergy remedy market was highly competitive. There were already 10 brands targeting in different segments at the beginning of the simulation. OTC cold medicine is effective to cure 3 major types of illness - cold‚ cough and allergy which associate with different symptoms like aches‚ nasal congestion‚ chest congestion‚ runny nose‚ coughing and allergy. Consumers can be segmented by young adult‚ young family‚ mature
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Marketing Strategy for Decision Making Final Individual Assignment Reporting on the lessons learned from the simulation exercise 2012 Marketing Strategy for Decision Making Final Individual Assignment Reporting on the lessons learned from the simulation exercise What have I learned…? About marketing strategy: segmentation and positioning Sometimes it’s not so important that your product fits the exact needs of the segment you target; rather‚ it’s vital that customers perceive that
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