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 These ideas will lead to a profitable company with shareholder satisfaction
Marketing Objectives and Activities
Marketing Objectives Objective 1: Objective 2: Objective 3: 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
Marketing Objectives Cont’d 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
Internal Strengths and Weaknesses External Opportunities and Threats S.W.O.T. Analysis Internal Strengths and Weaknesses External Opportunities and Threats
Strengths Brand Awareness Customer Satisfaction Market Share Pricing
Brand Awareness
Weaknesses Discounts -Greater than 2500 -Grocery Stores Sales Force -To much money in advertising
Opportunities Expansion -Product line extension Reformulate -Add/remove ingredients
Threats Inflation -Unpredictable Cost of Goods Sold -High Competition
Inflation
Target Market
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
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.
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.
Product, Price, Place, Promotion Lessons Learned Product, Price, Place, Promotion
Product Allround Allround+ Allright Life Cycle difficult to track 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
Price Match MSRP to perceived benefit Item priced too low/ high Tradeoffs survey Inflation Item priced too low/ high Perceived value Pricing status- quo Positively affected stock price Drastic price changes Negatively affected stock price
Place (Distribution) Distribution Channels Sales force distribution Direct vs. Indirect Growth Markets Sales force distribution Portion of sales % Growth
Place (Distribution) Lesson Learned: For some growth had a pattern... Chain Drug, Grocery Store, Mass Merchandise Total sales always increased
Place (Distribution)
Place (Distribution) Lesson Learned: For some growth did not have a pattern… Independent Drug Total sales were very erratic
Place (Distribution)
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
Promotion Introduction Co-op promotion Growth Trial size 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 Co-op promotion Little participation Trial size New products Coupons & point of purchase Always effective
Recommendations Price status-quo Product line extension Economy of scales Advertising important to new products Allocation of sales force