Economical As interest rates increase this could potentially have a positive

Economical as interest rates increase this could

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Economical As interest rates increase, this could potentially have a positive impact on the pharmaceutical industry. In the past, when interest rates go up, the healthcare industry also does very well. In contrast, the rise in inflation could cause the prices of medications to go up,
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14 resulting in consumers buying fewer medications. Changes in taxation policies can also affect consumers, which then will affect the company. Socio-cultural One way this could affect the company is by lifestyle changes in consumer habits. For instance, if customers decide to take the more natural route in terms of healing, this will result in a decrease in sales for pharmaceutical companies. On the opposite spectrum, if consumers tend to lean more towards OTC products, this could have a positive impact on sales. Technological Technology can have both a positive and a negative effect on the company. In one way it can improve customer’s ability to order OTC products. On the other hand, the competition may find ways to advance their companies to try to out-do Allstar. Conclusion The company has a whole overall has done very well. It has created three great products that appeal to consumers have given the competitive edge over other companies. Even though the company experienced a slight decline on account of discontinuing one of the products, the company came out ahead and is still doing exceptionally well. From period 1-6, there were some noticeable increases and decreases in terms of market share for the company. In conclusion, the overall market share and sales for the company increased. The overall salesforce of the company increased by 42% and can be looked at as a huge success. The market strategy for any company is to improve products, remain competitive, do what is right for the consumer, and appeal to the consumer, while meeting his or her needs. If the company continues to improve as it has shown already, it will lead to great success and profitability in the future.
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15 References Parrish, Melissa (2019) The New Era of Marketing Strategy; Retrieved from - strategy/#751c75405ddb Kokemuller, Neil (2019) Differentiated Business Strategies; Retrieved from Forbes Agency Council (2019) 10 Marketing Tools And Tactics That Will Shake Up The Industry In 2019; Retrieved from - tactics-that-will-shake-up-the-industry-in-2019/#70ef73073412 Brandi (2019) Why an Effective Social Media Marketing Strategy is Important; Retrieved from - strategy/ Root III, George N. (2019) Examples of Controls in a Marketing Plan; Retrieved from Kinnear, T. C., James, S. W., & Deighan, J. (2017 ). PharmaSim: The marketing management simulation . Charlottesville, VA: Interpretive Simulations.
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