PharmaSim Simulation report
PharmaSim Simulation report. The PharmaSim simulation is a web-based computer simulation that allows players to work in teams competing against computer-simulated teams.
Textbook: Winer, R. S. and Dhar, R. (2016). Marketing management (4th ed.). Boston, MA: Pearson Learning Solutions. ISBN: 9781323589304. (eBook) Interpretive PharmaSim Simulation access – ISBN: 978-1-13-607512-7
PART 1:
Initial Strategy Report Prepare an initial strategy report (short- and long-term). The written report must not exceed seven double-spaced pages (12-point type) with one-inch margins, excluding title page and appendix. The report should be very specific. Creating a sound strategy is the most important process the firm will undertake because strategy is the framework for all decision making and firm organization. The strategy should be a long-term vision for the firm to reference when making decisions and analyzing data. Strategy is defining segments served and creating a sustainable competitive advantage. It is your road map. It is where and how your firm chooses to compete. It is essential. (Interpretive.com, 2011)
The paper should address the following elements:
• Business definition: Who do you want to serve and why? Be sure to include customers/segments to be targeted and customer needs satisfied. What is the rationale for these choices (e.g., segment attractiveness, market gaps, fit with resources, synergies)?
• Competitive advantage: What competitors will you compete against and how?
• Performance objectives: What are your firm’s performance goals (e.g., cumulative profit, stock price, market share, intermediary metrics)?
• Key success factors: What is required of your firm to execute this strategy successfully (e.g., product development, outspend competition, first in market)? In essence, your marketing strategy defines your team. How aggressive is its decision making? How much risk is it comfortable with? Is it proactive or reactive to the marketplace? How patient is it with its decision(s)?
PART 2: Final Simulation Report
The Final Report should describe your final results for all All round brands by category. The written report must not exceed 13 double-spaced pages (12-point type) with one-inch margins, excluding title page and appendix.
The report should not merely list the results, but detail the simulation by addressing the categories (please label each category in your answer) below (i.e., causal relationships that include metrics from the simulation and terms from the textbook or PharmSim manual).
Note: Include Product Life Cycle related concepts in all of your categories.
1. Manufacturer’s suggested retail price
2. Volume discounts and promotional allowances
3. Advertising budget
4. Selected advertising agency
5. Relative emphasis on the four types of advertising messages
6. Promotion’s budget with allocations to cooperative advertising and the three types of consumer promotions
7. Sales force (number allocated to the five types of retail stores as well as to wholesale and indirect support functions)
8. Segmentation
9. Line extensions
10. Cumulative net income throughout the simulation and final stock price
The appendix must include:
1. decisions, results, and interpretation of the result
2. Graphs
Answer preview for PharmaSim Simulation report
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