URGENT NEEDED IN 1 HOUR

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To prepare your team for the PharmaSim simulation, each team will complete one abbreviated marketing plan worksheet (include the following two components).

Situation Analysis

This section presents relevant background data on sales, costs, profits, the market, competitors, and the macro-environment. The 5Cs is a useful framework to inform this section. The critical aspect here is to deeply consider the implications of your observations to develop hypotheses and insights.

1. Company: What are our goals, and what measures will be used to determine if we are on track? What strengths and weaknesses do we see in our brand and organization?

Our goal is to maintain the reputation of the Allround brand as a leading competitor in over the counter multi symptom cold liquid medicine. As well as build Allround to be the most frequently purchased cold medicine through creating value and satisfying our customers needs. A major strength for the Allround brand is that we hold a large share of the market and have been successful in creating awareness of our product. One weakness for the Allround is that we have been unable to encourage repeat purchases and create relationships with our existing customers to ensure their loyalty to our brand.

2. Context: What environmental factors provide opportunities or limit our options?

In order to maintain our reputation and market share we will need to address how our brand will be affected by the introduction of competing products from competitors, and how we can gain back our share of the market. Although, new products can be seen as a threat they can also provide opportunity for the Allround brand to compete on a new level by testing new products to introduce into the market. Population growth paired with over 80% of the population suffering from cold symptoms in the past year provides Allround with the opportunity to grow it customer base. Along, with strong growth in Mass Merchandising sales our brand faces a major opportunity for growth.

3. Collaborators: Who helps us create and deliver value? How do we motivate them to help us achieve our goals?

4. Customers: What underlying needs are we trying to satisfy? What benefits do customers seek? Are there any trends / changes in these needs that we especially need to consider?

5. Competitors: Who do we see as our primary competitor(s)? What do we expect them to do, and how do we defend against those moves?

Marketing Strategy and Tactics

This section defines the mission, the marketing and financial objectives, and how resources will be allocated. At a minimum, this should discuss the needs being solved, the value proposition, the desired positioning, and the marketing mix (Four P’s).