Allstar Pharmaceuticals Marketing Plan Marketing Brand Managers n

Allstar Pharmaceuticals Marketing Plan

Marketing Brand Managers n Crystal Coughlin n Tom Mc. Geehan n Jessica Stilson n Alicia Whye

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

Marketing Objectives and Activities

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

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

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

Strengths n Brand Awareness n Customer Satisfaction n Market Share n Pricing

Brand Awareness

Weaknesses n Discounts -Greater than 2500 -Grocery Stores n Sales Force -To much money in advertising

Opportunities n Expansion -Product line extension n Reformulate -Add/remove ingredients

Threats n Inflation -Unpredictable n Cost of Goods Sold -High n Competition -High

Inflation

Target Market

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

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). n Prefers the convenience of a small capsule as opposed to carrying a bottle of liquid medicine. n

Target Market - Allright n n n 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.

Lessons Learned Product, Price, Place, Promotion

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

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

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

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

Place (Distribution)

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

Place (Distribution)

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

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

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