Free support for Round 1 and 2
Email: pharmasim2012@gmail.com
Blog: pharmasim2022.blogspot.com
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PharmaSim
The Marketing Management Simulation
If you are doing PharmaSim simulation for MBA students, this guide with help to win the game of ten rounds and save time (may be a few days of reading) and do the right things from start (and avoid doing the wrong things in early rounds) and get the understanding of all decisions you have to make during the simulation.
Enjoy your learning!
Good Health and Success!
It will require half an hour to read, then get ready.
If you complete reading, you win the game 60% already.
If you still need free support for rounds 1-2 after reading, email: pharmasim2012@gmail.com
You will manage a company: Allstar.
Your company, Allstar, competes with four other firms in the OTC cold and allergy market.
These five firms offer a total of 10 brands in five different product categories (cold liquid, cough liquid, allergy capsule, cold capsule, and nasal spray).
You will have to make about 30 decisions for each round. Then run the simulation to compete with other companies and brands to gain top sales, profit, and stock prices.
Note: There are five companies, with 10 brands, you are having the 2nd top sales with one brand, Allround - in the cold liquid segment. Other competitors are coming very close with strong brands.
Your company start with sales of $355 million, net income of $67 million and stock price $38.35
After ten years of the simulation (ten rounds), you can increase sales and profit, stock prices to top level, winning the four competing companies is one thing, gaining the top sales and profit, and top stock prices compares with the companies running by your class friend is more important to gain the top results of the course.
This is sample results after ten rounds, you can increase sales to $1.130 million, net income to $260 million, and stock prices higher than $230. This is top results in your simulation (compete with four computer control companies)
And, your results should also higher than your class friend in their simulation to get the top results for the course. So, this guide bring the wining tips to get the top sales and profit, and stock prices in both competitions.
Note: Your brand Allround is good product, can generate good sales and profit.
It is multi-purpose liquid, for cold, cough, allergy and also nasal.
The issue is that, other brands are more focus in one or two symptoms and are getting higher market share in that market segments.
It is your decision to make, to modify product and add new product to win the competition.
The good thing is your brand Allround is selling well in Cold segment, with 40% market share
The bad thing is it is not selling at all in other three segments, Cough, Allergy and Nasal.
Total market share is the 2nd top, 23.8%, just after Ethik with 3 brands, total market share of 26.5%
Again, it is your decision to update product to expand to other categories or segments and R&D new products for new market segments.
If you do not action fast, other competitors will dominate and control other segments.
And you can notice that, total sales of other three segments, cough, allergy and nasal is about 40% total market share, with also similar growth rate of Cold segment.
Your company advantage is having good brand, Allround, with high brand awareness and good frequent purchase, high conversion and retention ratio.
Tip: Keep focus on Allround, can modify to add more function, eg. Cough (higher sales than allergy and nasal) and consider R&D new products in nasal in later rounds.
One of the key to win competition is setting Price for each product.
Price and also discount level will affect sold units of each round.
Tip: Check the sales to decide which order size should have higher discount.
Do not make mistake here.
Support should be spent more for higher sales order (not lower sales, not trying to increase lower sales order. Again, this is important, support high sales order, in this case, the second and the fourth).
Also, spend good discount for the other two order sizes.
Sales Force decision is the key to win.
Total number of sales force.
How many to allocate into Direct and Indirect.
What are the basis for this allocation.
I often use sales of each channel to decide number of sales staff to allocate
The reason is simple, sales will decide how much to pay for that team of sales force.
Therefore, we need to check reports to identify sales of each channel, and then do some excel calculation to allocate sales staff for each channel. Note to increase total number by checking competitors' sales forces.
In this Pharmacy industry, R&D is also the key to win.
In rounds 1-2 will reform Allround
In rounds 3-4 will expand Allround to form a new product Allround PLUS (add new function, eg, Cough)
In rounds 5-6 will launch a new product Alright (for other segment, eg. Nasal)
In rounds 7-8 will reform Allround to add more functions or increase benefits (eg Allergy)
The key is to gain high sales and net income.
Keep balance between allowance and cost of goods sold.
Keep balance among promotion, advertising, digital marketing and sales force.
In rounds 1-2-3-4 keep Promotion + Sales force about 50% and Advertising/digital marketing about 50%
In rounds 5-10, can use 40%-45% for Advertising/Digital Marketing and 55%-60% for Promotion and Sales Force.
If you read to this part, you get 50% of winning the game.
If you spend time reading the key reports from the game, about 20 reports, you can get 10% more winning the game. (PART 2)
And the rest 40% is logging into the game, and input the decisions for each round, and click Submit to enjoy your winning. (PART 3)
GOOD HEALTH AND SUCCESS !
END OF PART 1
Continue reading PART 2 to find key reports
Continue reading PART 3 to find top 30 Tips and Step by Step Guide to make decisions for each round.
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Pharmasim
The Marketing Management Simulation
FREE WINNING GUIDE AND TIPS
Free support for Round 1 and 2
Email: pharmasim2012@gmail.com
Blog: pharmasim2021.blogspot.com
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