MBA_FPX5012_StallingsKyle_Assessment1-1.docx - Marketing Plan 1 Allround Marketing Plan Kyle Stallings Capella University April 6 2020 Marketing Plan 2

MBA_FPX5012_StallingsKyle_Assessment1-1.docx - Marketing...

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Marketing Plan 1 Allround Marketing Plan Kyle Stallings Capella University April 6, 2020
Marketing Plan 2 Table of Contents Executive Summary……………………………………………………….3 Situational Analysis……………………………………………………….3-8 Competitors and Sales Data…………………………………….4-5 Market Research………………………………………………….5-6 SWOT Analysis…………………………………………………….6-7 PESTLE Analysis………………………………………………….7-8 Marketing Strategy………………………………………………………….8-10 Marketing Tactics…………………………………………………………...10-13 Product…………………………………………………………… .... 10 Price………………………………………………………………….11 Promotion………………………………………………………… .... 11-12 Sales Force………………………………………………………….12 Place………………………………………………………………….12 Advertising……………………………………………………………12-13 Social Media and Technology…………………………………………… .... 13-14 Financial Projections……………………………………………………… .... 14-16 Controls……………………………………………………………………….17 Summary………………………………………………………………………17-18 References…………………………………………………………………….19
Marketing Plan 3 Allround Marketing Plan Executive Summary Allstar Brands has been a leading package goods company since it was founded in 1924. It has a multitude of products, but one of its biggest successes is the Allround cold medicine. Since it came on the market it has been the number one cold and allergy seller, and the OCM Group of Allstar is tasked with the running this product line. A recent surge of competitors on the over the counter medicine industry has led to Allstar losing some of the competitive advantage it had gained initially. The OCM Group was asked by senior management to develop a new marketing strategy to address this decline as the success of Allround is an essential part of the long-term strategic plan of Allstar. The OCM Group conducted an in-depth situational analysis that helped identify their current capabilities and pinpoint opportunities. This analysis used market research to understand the trends of the OTC industry and gave insight into Allstars competitive positioning. The research allowed the team to examine the strategies of their competitors and identify how their decisions effect Allround’s performance. Along with the market research, Allstar purchased consumer survey information to have a clear view of their customers wants and needs. It also gave the OCM team a glimpse into how Allround performs in multiple categories such as brand awareness, retention ratio, and overall satisfaction with their product. This data was taken and analyzed to help form a SWOT and PESTLE analysis. These models help companies develop a marketing strategy as it identifies strengths, weakness, opportunities, threats, and external factors that influence the performance of the brand. After conducting the situational analysis, the OCM Group determined a marketing strategy that gave a high-level overview of the next few periods. The strategy uses the strengths identified during analysis to address the weaknesses and opportunities. Every aspect of the business was reviewed, and key areas were highlighted for change. Marketing tactics were then outlined to give a detailed plan on how the company will achieve growth strategy goals.

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