PharmaSim OCM Group Allstar Brands - Lab Report Example

Comments (1) Cite this document
Summary
This report summarizes the decisions we made and its impact on our brand’s performance. The objective of PharmaSim exercise was to manage the over-the-counter cold medicine brand for the pharma group Allstar Brand Corporation. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97% of users find it useful
PharmaSim Report OCM Group Allstar Brands
Read TextPreview

Extract of sample
"PharmaSim OCM Group Allstar Brands"

Download file to see previous pages Marketing plan or strategy must describe the key or augmented product characteristics and the kind of benefits they provide to the customer, the pivotal price that bounds company profitability yet providing value for money for the customer, tempting promotions that wil attract people to buy the product and a sound distribution and placement strategy to create access for the customers. Our target market segments was basically the retired segment where Allround had the most penetration and the largest (30%) market share. The prime reason for the selection of this market was the fact that they are most prone to body aches due to ageing. Since Allround product had the most amount of Analgesic, it was more suitable for aches and fever than cold symptoms. The brand is the clear market leader in this market segment. Most consumers use this product for nighttime relief because of the strength of the medication and because the alcohol and antihistamine help the patient rest. How you adjusted your pricing, channel, and promotions in response to the changes in: a) Macroenvironment of the Industry: Macro-economic environment changes such as change in government regulations; taxes, demographic changes and political environment highly affect the performance of the brand. For example, decline in industry growth and rise in infaltion negatively affected all the companies (including Allround brands) in the market. The cost of goods sold became higher than the previous period and hence our bottom line took a hit. After a consistent decline in the industry profits and growth, because of the competitive nature of the industry or changes in government policies for OTC, the macroeconomic environment changed in Period 8 when it increased by almost 12% period-over-period growth. Due to anticipatory high growth, the prices of the product were marginally increased ($1) in the respective period in order to leverage the benefits of market boom. b) Consumer Behaviors: Generally speaking, marketing revolves around people. In the words of Peter Drucker, “Marketing is the entirety of the business from the perspective of the customer.” Hence, it is imperative to understand consumer behavior in order to gain customer insights and apply it to one’s brand strategy. In PharmaSim, consumer behavior was studies through market research reports and analysing shopping trends of the customers. The following insights were gained about our target market segments: Majority of the customer bought their over-the-counter medicines from grocery stores Majority of the physicians and pharmacists recommended brands Coughcure and End c) Competitors’ moves: Similar to the real world, one cannot play in insolation in PharmaSim, hence competitors’ reactive and aggressive moves affect your Dripstopperformances and strategies. For example, Besthelp, Coughcure and End ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“PharmaSim Report OCM Group Allstar Brands Lab Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved from https://studentshare.org/marketing/1426781-pharmasim-report-ocm-group-allstar-brands
(PharmaSim Report OCM Group Allstar Brands Lab Example | Topics and Well Written Essays - 1250 Words)
https://studentshare.org/marketing/1426781-pharmasim-report-ocm-group-allstar-brands.
“PharmaSim Report OCM Group Allstar Brands Lab Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/marketing/1426781-pharmasim-report-ocm-group-allstar-brands.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
de
deckowzena added comment 4 months ago
Student rated this paper as
The topic of "PharmaSim Report OCM Group Allstar Brands" is quite popular among the assignments in university. Still, this sample opens a new perspective of seeing the question. I’ll use the style for my own paper.
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Group report
...they are likely to face in Taiwan as foreign business destination (Blaine, 2008 pg 98). The population in Taiwan as well will be considerate for the investment though as one of the developed countries they embrace technology, therefore, for the Greenfield investment to be efficient and effective in Taiwan most of their operations will always revolve around machinery. The structure of our business-based report as Australians is to analyse the disadvantages as well as the advantages of implementing Greenfield business system in Taiwan as a developed country. This report will finally recommend on the uniqueness of the business investments in Taiwan, as opposed to the other developed world countries....
4 Pages(1000 words)Research Paper
Group Report
...? Human resource management A group report on recruitment and selection at Sainsbury’s Table of Contents Introduction 3 J Sainsbury Plc 3 Methodology 3 Findings 3 Recruitment methods 4 Selection methods 4 Discussion 5 Conclusion and recommendations 7 References 1. Introduction: Recruitment and selection (R&S) processes lay the foundation to a successful business. These are the human resource (HR) strategies that require involvement from HR team and operations in order to be effective. This report evaluates the R&S procedures adopted by J Sainsbury Plc, while identifying their advantages and challenges. Learning from literature will be adopted for obtaining a direction to this study and findings from various relevant sources... candidates,...
5 Pages(1250 words)Essay
Group report
...Group Project Word Count 499 Unlike other parts of the world, American society is heavily individualistic. We live in a country in which individualism is cherished as the highest virtue and where one’s individual sense of self is nurtured and cultivated at an early age. We inhabit a dog-eat-dog world in which everyone fends for him or herself and in which everyone is a competitor and everyone is alone. Unlike many Asian societies in which communitarianism reigns supreme, in which deference to authority is expected and in which socialism is the norm, American society is based upon the notion of individual freedom and liberty. Working together on a group project however, one learns that the success of the project is not due... to the...
7 Pages(1750 words)Essay
Brands
...Brands Brands My favorite brand that deals with computer hardware is Apple Corporation. Apple is an American company which deals with computer electronics and software. According to several sources, the company is known as the best company in the production of computer products (Lashinsky, 2012). Apple is also considered as the largest company that has grown in terms of technological advancement. Currently, the company operates in over 100 countries globally. This paper will talk about Apple as one of the leading brands in the business world. Most of the products manufactured by Apple are suited for business use. However, the products manufactured by the company are extremely costly. In most developed countries, the unique nature...
1 Pages(250 words)Assignment
Group report
...personal learning and self awareness about personal skill orientation. These modules were absolute necessity for students who want to know about how to organize an event, how to work in group, how to prepare group report and how to guide a team during contingent situation. There is no doubt in the fact that all the modules in the course proved to be learning opportunity for me and significantly helped me to grow as professional. Throughout this essay, these learning experiences will be critically reflected in order to substantiate my claims that I have learnt a lot from my management degree program. I will take help of the learning cycle theories in order to present my personal learning...
20 Pages(5000 words)Essay
Allstar Brands Distribution Channel
...brands to smaller, independent retailers that are not reached by direct sales force of the manufacturer. Internal Product development The OCM group has a significant product development and management decisions to make and must ensure that it works with the product research and development (R&D) area within Allstar Brands. The 4 P’s (People, Places, Prices and Promotion) The company needs people to be friendly and courteous. It keeps its prices a little higher than the trade-off line. It sells in places where the customers want to purchase their products. It ensures that it maintains promotions and advertisement. Solid relationships with...
1 Pages(250 words)Essay
Group report
...MARKET RESEARCH REPORT + Lecturer Submitted Market Research Report A Report about a Research Carried Out by Committee Select to Seek the Possible Causes of Decline in Sales of the Products of ‘Best Bakers’ in the Market as Authorized by Best Bakers’ Management Board. Table of Contents 1.0 Executive summary………………………………………………………… 4 2.0 Research Methodology………………………………………………….. 5 2.1. Secondary research……………………………………………………. 6 2.2.0 Primary research……………………………………………………... 6 2.2.1 Oral interviews………………………………………………………. 7 2.2.2 Questionnaires……………………………………………………….... 7 2.2.3 Observations…………………………………………………………. 7 2.2.4 Survey research………………………………………………………. 8 2.2.5 Data analysis…………………………………………………………. 8 3.0 Findings... , the...
10 Pages(2500 words)Book Report/Review
EXAM # 2 - Dunkin Brands Group, Inc. (DNKN)
...). The firm’s success in the international market could be understood if reviewing its strategies and objectives, as presented above; in addition, the firm’s leadership and culture seems as having a critical role in the firm’s success. 2.0 Dunkin’ Brands Group, Inc. – Strategies, objectives, leadership and culture 2.1 Current strategy The strategy of Dunkin’ Brands Group is based on franchise. According to the firm’s 2013 Annual Report the specific strategy offers to the company the following advantage: being released from the costs related to the daily operations of its restaurants, the firm is able to emphasize on sectors that are critical for the...
4 Pages(1000 words)Research Paper
Strategic Analysis - Dunkin Brands Group, Inc
...Strategic Analysis - Dunkin Brands Group, Inc Introduction:- It is one of the most famous fast food restaurants chains in global quick service restaurants industry (Arn\orsson, 2013). Headquarter of the company is situated at Canton, Massachusetts, USA. It operates in 58 countries around worldwide and at 17000 points of distribution (DunkinDonuts.com, n.d.). SWOT Analysis:- Strengths: 1. Brand recognition is high 2. Competitive pricing strategy 3. Loyal customers 4. Variety in its products 5. Service quality Weaknesses: 1. Financial flexibility is limited 2. Geographical presence is concentrated 3. Does not focus on advertisement and marketing 4. Huge competition with...
5 Pages(1250 words)Research Paper
Group Project Final Report
...Group project final report The project deals on stock bonds that are traded in the exchange. The investment strategy that should be taken is that of high risk high return. That will be geared towards wealth maximization. Risks can be prevented by diversification. Risk can be diversified by taking up different investments. The risk is also prevented because bonds have a fixed rate of return. The selection of assets can be based on the returns and risks. They can also be based on the wants of the investor. The monitoring of the investment can be periodical. The investor should set a budget or estimate of the expected results. After a certain time period, the evaluation can be carried out to find out if...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Lab Report on topic PharmaSim Report OCM Group Allstar Brands for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us