MBA_FPX5012_GivensA_Assessment-1 - MARKETING PLAN Assessment 1 Marketing Plan Allround Pharmaceuticals Ashlea Givens 1 MARKETING PLAN Executive

MBA_FPX5012_GivensA_Assessment-1 - MARKETING PLAN...

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MARKETING PLANAssessment 1Marketing PlanAllround PharmaceuticalsAshlea Givens1
MARKETING PLANExecutive SummaryAllstar Brands Corporation is one of the leading manufacturers of packaged goods in the world. Since its founding in 1924, the company has acquired or merged with a number of smallerpackaged goods companies [ CITATION Kin19 \l 1033 ]. Allstar Brand has been committed to helping customers achieve optimal health through the production of safe, effective, high quality and affordable over the counter (OTC) cold medicine. Allround brand can be made available in one of three forms: liquid, capsule, or spray. Allstar Brand has been steadily acquiring and merging small companies that are specialized in packed goods. In review of the situation analysis it shows the amount of retail sales continue to grow however, they are still not at the top of the competitors. The issue is not brand awareness as theylead in this area as well as most frequently bought. An in-depth analysis using the PESTLE, SWOT, and VRIO will give the company an idea of where they should strategically go. They reveal Allstar’s strength in which should continue to be nurtured and areas of weakness/opportunities to be evaluated. Situation AnalysisThe focus of Allstar is different brands that will help bring potential customers and increase the company’s revenue. Allstar Brand need to be familiar with its customer needs and have the capability to satisfy their target market. A major marketing research firm offers a nationwide survey of OTC cold and allergy consumers. The market research firm claims that thissurvey provides a great deal more information on how consumers perceive and use cold and allergy products. The firm also suggests that demographic segmentation could reveal important information about the market. Survey data are provided with two segmentation options: illness (cold, cough, and allergy) and demographics such as young singles, young families, mature families, empty nesters, and retired [ CITATION Kin19 \l 1033 ].2
MARKETING PLANThe Allround product is the leader in the over the counter medicine market. However, thecompany’s market share loss and performance in the fourth quarter caused worry with upper management. Allstar Brands competes with four other firms in the OTC cold and allergy market. As shown below, these five firms offer a total of 10 brands in five different product categories such as cold liquid, cough liquid, allergy capsule, cold capsule, and nasal spray.Company and Brand SummaryCompany NameManufacturer Sales(M$)Brands on the MarketAllstar Brands$355Allround: 4-hr multi-symptom cold liquidB&B Health Care$286Believe: 4-hr allergy capsule,Besthelp: 4-hr cold capsuleCurall Pharmaceuticals$199Coughcure: 4-hr cough liquidDriscol Corporation$255Defogg: 4-hr allergy capsule,Dripstop: nasal cold spray,Dryup: 4-hr multi-symptom cold capsuleEthik Incorporated$396Effective: nasal cold spray,End: 4-hr cough liquid,Extra: 12-hr cold capsuleTable1: Company and BrandsMarket Demographics: Geographical – Suburban, urban, and rural areas.3

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