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Allstar Pharmaceuticals

Allstar Pharmaceuticals. Marketing Plan. Marketing Brand Managers. Crystal Coughlin Tom McGeehan Jessica Stilson Alicia Whye. Mission Statement. Allstar’s Objective: Remain Successful Market Share leader in OTC market Maintain Highest level of Customer Satisfaction

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Allstar Pharmaceuticals

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  1. Allstar Pharmaceuticals Marketing Plan

  2. Marketing Brand Managers • Crystal Coughlin • Tom McGeehan • Jessica Stilson • Alicia Whye

  3. Mission Statement Allstar’s Objective: • Remain Successful Market Share leader in OTC market • Maintain Highest level of Customer Satisfaction These ideas will lead to a profitable company with shareholder satisfaction

  4. Marketing Objectives and Activities

  5. Marketing Objectives • Objective 1: • Increase stock price by 10% every period until 100% increase by end of 10th period. • Objective 2: • Increase total unit sales by 50% by the end of the 10th period • Objective 3: • Increase gross margin by 100% by end of 10th period

  6. Marketing Objectives Cont’d • Objective 4: • Successfully Introduce Allround+ and Allright to meet the needs of the market • Objective 5: • Maintain a high brand awareness for each product • Objective 6: • Increase Market Share to 30% by end of 10th period

  7. S.W.O.T. Analysis Internal Strengths and Weaknesses External Opportunities and Threats

  8. Strengths • Brand Awareness • Customer Satisfaction • Market Share • Pricing

  9. Brand Awareness

  10. Weaknesses • Discounts -Greater than 2500 -Grocery Stores • Sales Force -To much money in advertising

  11. Opportunities • Expansion -Product line extension • Reformulate -Add/remove ingredients

  12. Threats • Inflation -Unpredictable • Cost of Goods Sold -High • Competition -High

  13. Inflation

  14. Target Market

  15. Target Market - Allround • People 12 and over • A person who lives in the USA • Suffers from symptoms of a cold or allergies • A person who values feeling symptom free in order to return to daily activities

  16. Target Market – Allround+ • This person wants to be allergy and cold symptom free for the maximum amount of time (with out having to take another dose). • Prefers the convenience of a small capsule as opposed to carrying a bottle of liquid medicine.

  17. Target Market - Allright • Age 12 or older • USA • Is an Allergy sufferer • Prefer a shorter lasting dose in order to gain more control of the side affects of the medication. • Prefers the convenience of a small capsule as opposed to carrying a bottle of liquid medicine.

  18. Lessons Learned Product, Price, Place, Promotion

  19. Product • Allround • 4hr multi liquid • Life Cycle difficult to track • Our best product on the market • Allround+ • 12hr multi capsule • Pulled sales away from Allround • Introduced it too early • Allright • 4hr allergy capsule • Only 2 other allergy medications in market • Unique product – had decongestant

  20. Price • Match MSRP to perceived benefit • Tradeoffs survey • Inflation • Item priced too low/ high • Perceived value • Pricing status- quo • Positively affected stock price • Drastic price changes • Negatively affected stock price

  21. Place (Distribution) • Distribution Channels • Direct vs. Indirect • Growth Markets • Sales force distribution • Portion of sales • % Growth

  22. Place (Distribution) • Lesson Learned: • For some growth had a pattern... • Chain Drug, Grocery Store, Mass Merchandise • Total sales always increased

  23. Place (Distribution)

  24. Place (Distribution) • Lesson Learned: • For some growth did not have a pattern… • Independent Drug • Total sales were very erratic

  25. Place (Distribution)

  26. Place (Distribution) • Lesson Learned: • For some growth had a pattern… • Chain Drug, Grocery Store, Mass Merchandise • Total sales always increased • Independent Drug • Total sales were very erratic • Convenience Store • Total sales increased (except 2 periods) • Overall total sales continually increased

  27. Co-op promotion Little participation Trial size New products Coupons & point of purchase Always effective Introduction Primary advertising Brewster, Maxwell, & Wheeler Budget = 20MM Growth Benefits & Comparison advertising Budget = 14 -17MM Maturity Comparison & Reminder advertising Budget = 7 -11MM Decline Reminder advertising Budget = 3 -5MM Promotion

  28. Recommendations • Price status-quo • Product line extension • Economy of scales • Advertising important to new products • Allocation of sales force

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