Marketing Plan Incomplete

Marketing Plan Incomplete - 16:367 Marketing Management...

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16:367 Marketing Management Instructor: Sekayi Pswarayi Pharmasim Marketing Plan Libo Chen (102000), Kristina Klein (080202), Sarra Nazar (080356)
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Table of Contents Executive Cover Memo Mission Statement 2 Market Objectives 2 Situation Assessment and Analysis Strengths 3 Weaknesses 3 Opportunities 4 Treats 5 Market Summary 5 Market Strategy 6 Financials 9 Controls 12 2
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Mission Statement To improve the well-being of our consumers by providing the highest level of product satisfaction through product quality and effectiveness while continuing to grow as an industry leader. Market Objectives To increase brand awareness of Allround from 74.1% to 90% by year eight. To increase perceived product effectiveness of consumers to over 80% in all symptoms that the product is targeting, creating a higher level of value. To increase customer satisfaction of Allround from 58.3% to 65% within the first three years, with a target of increasing customer satisfaction to 70% by the end of the final year. To increase sales force to a total of 275 (185 direct, 90 indirect) by the end of the eighth year. To increase sales by 10% or more each year from the initial manufacturing sales of $355 million. To increase stock price to $82.00 by the fifth year and then by $10 per year after this initial growth to a final price of $105. To keep our average purchases per customer at 2.7. To increase Allstar Brands overall market share from to 27% by the eighth year. To expand the Allstar Brands cold medicine family by introducing another product to the Allround product line (Allround+). Situation Assessment and Analysis Strengths Allround is a successful and profitable brand with sales of $355.3 million at the manufacturer's level last period. Market share leader in the over-the-counter cold and allergy remedy market. Has consistent profitability and sales. Second highest sales in the OTC cold and allergy market – Ethik Incorporated being the leader in sales. Is viewed as one of the most effective brands on the market at reducing multiple cold symptoms. Currently has the highest brand awareness (74.1%), most brand trials (47.1%), and most frequently purchased (21.8%) out of all products in this market. Brand's effectiveness, high recognition, and level of loyalty have allowed it to maintain a price leadership role in the market. Industry growth of 4.3%. Weaknesses Only one brand, competing in a multiple-brand market. Consumer groups and some physicians have attacked the multi-symptom "shot- gun" approach as providing excessive medication in many circumstances. Retention ratio (the percentage of those who have tried the brand who now purchase it most often) for Allround was lower than that for several other brands. 3
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This note was uploaded on 04/14/2011 for the course BUSSINESS 16.391 taught by Professor Micial during the Spring '11 term at Brandon.

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Marketing Plan Incomplete - 16:367 Marketing Management...

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