Week 8

Hello readers. This week’s post will be fairly short. My team and I have been working diligently on our marketing strategy for the simulation we are working with. Right now we are entering into period 3 and will be going to period 7 of the total 10 periods.

We are looking to launch a new product this next period. In addition to our currently cold medication we will offer an allergy medication. After looking at the market we felt it was a growing market with few competitors that we would likely be able to beat. We will look to maintain our market sure in the cold market and in the long term we will look to turn this medication into our cash cow to fund the newer projects we develop.

Toward the end of this section of the simulation we will look to reformulate our cold medication. We may not end up changing it but this would be when we would make those changes if we make any changes. Also near the end at this time we will look at another product to launch. We are thinking of offering a nasal decongestant at this time.

This is the broad view we have for our company without getting into too many specifics. It took us some time to come to these conclusions. Some people in the team, myself included, wanted to reformulate now but after discussing it we all came to the decision to wait. There were talks of offering the nasal decongestant first and the allergy medication second. These and many other discussions took place over Skype. Some team members were traveling so it became necessary to meet virtually. I think the process would have been more efficient if we had met in person. Hopefully in future meetings we will be able to meet in person.