Pharmasim Marketing Plan

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Pharmasim Individual Report April 18, 2012 MBA642 Marketing Management Marie Stewman Pharmasim Marketing Plan For my marketing plan, the best resource was the team rounds completed during class as my basis for research. Based on team play, I started with reviewing the first performance summary and determined this would be reviewed prior to making changes in each round. My plan began with choosing a target audience that would build loyalty, continuously review their values as well as my competitors, and set goals based on each of the reports given. I would first determine the levels of awareness and then continue to watch that plus the satisfactions levels to determine where the most investments should be given. The other detail I would need to continuously evaluate was the brand perceptions which would determine the best messaging used based on perceived values. As a market leader, I determined the best audience to target would be the youngest possible, to develop a relationship with my customer at a young age who would then pass on the loyalty to other family and friends. That said, I chose the young singles, young families, and mature families. My strategy was to thoroughly review the tools listed below prior to making any decisions, compare my product to biggest competitors, and then test the market. Based on the test I would re-evaluate my choices. Tools used were: 1. The sales report told me which channels and discounts brought what percentage of profit. This would be used to increase or decrease the amount I invested. 2. The promotion report told me if the promotion allowances were profitable as well as coupons, co-op advertising, point of purchase sales, and trial sizes distributed. 3. The portfolio graph gave a quick visual on where my company stood in my target market which told me if there were disproportionate increases or decreases
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