The Vice President of Marketing at Allstar Brands has assigned you to the over-the-counter (OTC) cold medicine group for the company. Allstar Brands is one of five companies competing in the OTC cold medicine market. Using the PharmaSim simulation, you will make decisions regarding promotion, pricing, distribution, advertising, and product mix for Allstar BrandTMs OTC cold medicine.
Your Role
You will start out as a Brand Assistant and, if all goes well, will complete the simulation by making additional decisions at the level of Brand Manager at Allstar Brands. The decisions made regarding the OTC cold medicine market during the simulation will become the basis of a marketing plan.
Requirements
Use the Marketing Plan Template [DOC] to develop your situation analysis, marketing strategy, and marketing mix plan elements. Be sure to interpret each figure and table used in your plan and to summarize the data results. Include the following in your marketing plan:
- Business context.
- Situation analysis. Incorporate a rationale for changes in the situation as you progressed through the simulation.
- Marketing strategy. Incorporate a rationale for changes in the strategy as you progressed through the simulation.
- Marketing mix. Incorporate a rationale for changes in the mix as you progressed through the simulation.
- Social media and technology strategy. Recommend how social media and technology can be incorporated into your strategies. Include at least three specific recommendations that outline an implementation plan and expected results.