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| MARKSTRAT-PHARMA |
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A marketing strategy simulation
Areas: Marketing Strategy in the Pharmaceutical Industry
Authors: Jean-Claude Larréché, professor of marketing, and the Strat*X team, under the guidance of Rémi Triolet in a joint project with IMS
Minimum time required: 3 days
Distribution Contact:
USA
Lucy Colombo
StratX International
222 Third Street
Cambridge, MA 02142 - USA
Tel: (617) 494 8282
Fax: (617) 494 1421
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| Description |
MARKSTRAT-PHARMA was developed jointly by Jean-Claude Larréché, Strat*X, and IMS to address the need for training in global marketing strategy within the pharmaceutical industry. Participants are placed in up to ten teams, which compete with each other in a variety of different classes of drugs in the ethical and OTC markets over six to eight simulated periods.
MARKSTRAT-PHARMA incorporates the latest user-interface technology available, and runs on Microsoft WINDOWS. In the first eight months after its introduction, MARKSTRAT-PHARMA has been tested by representatives of over 40 pharmaceutical firms in open seminars conducted by IMS. It has also been used in extensive in-house programmes with several major pharmaceutical companies.
MARKSTRAT-PHARMA incorporates several different levels of complexity, which can be tailored for specific applications. At its simplest level, teams compete in one country and three drug classes (either ethical or OTC). Decision-making largely focuses on details of the marketing mix, production decisions, and country-level strategy, including reaction to changes in government regulatory policy. At its most complete level, teams compete across three different countries, each with a different marketing characteristic and regulatory system, in up to ten drug classes in both the ethical and OTC markets. Detailed marketing mix decisions can be abstracted, leaving participants to concentrate on global concerns. Decisions at this level include international competitive strategy, complex product portfolio issues, R&D initiatives, strategic alliances (co-marketing, co-detailing, and licensing), exchange rate risk, international expansion or contraction, and so on. The simulation can be easily adapted to any level of complexity between these two extremes to best suit the needs of the participants. |
| Pedagogical Objectives |
- Understand, practice, and assimilate business and marketing strategy in a realistic pharmaceutical environment.
- At advanced levels, focus on the areas of strategic direction, resource allocation, and global business issues.
- At less complex levels, focus on marketing strategies, salesforce and communication management, and brand tactic
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