What This Document Is
This document summarizes the strategic decisions made during the first two years of a pharmaceutical marketing simulation, specifically for the “Allround” brand. It details adjustments to the marketing mix – sales force allocation, brand strategy, pricing, advertising, promotion, and digital marketing – and the rationale behind those choices. It also includes a discussion of a special decision regarding a market discount.
Why This Document Matters
This decision summary is crucial for students in Advanced Marketing Management (MAR 499) at Pace University who have participated in the Pharma Simulation. It serves as a record of strategic thinking, a justification for resource allocation, and a performance review of those decisions, as evidenced by the stock price increase from Year 1 to Year 2. It’s used for post-simulation analysis, team reflection, and potentially for grading purposes. Understanding the reasoning behind these decisions provides valuable insight into the complexities of pharmaceutical marketing.
Common Limitations or Challenges
This document provides a retrospective account of decisions. It does *not* offer a universal “best” strategy for the simulation. The effectiveness of these choices is tied to the specific market conditions and competitor actions within that simulation run. It also doesn’t include a full competitive analysis or detailed financial projections beyond the immediate impact of the decisions.
What This Document Provides
The full document includes:
* A detailed breakdown of Year 1 and Year 2 marketing budget allocations across all elements of the marketing mix.
* The reasoning behind decisions related to sales force size (direct and indirect).
* A discussion of brand strategy, including planned product reformulation based on consumer feedback.
* Pricing strategies and the rationale for maintaining or adjusting prices.
* Analysis of advertising and promotion effectiveness, including trade and consumer promotion budgets.
* A justification for the digital marketing investment.
* A cost-benefit analysis of a special decision to offer a market discount.
* Year-over-year performance indicators, such as stock price changes.
This preview *does not* include the full financial statements, detailed market share data, or a comprehensive competitive landscape analysis. It also does not provide the simulation’s operating statistics reports.