Market Penetration The market penetration strategy is to ensure a large share

Market penetration the market penetration strategy is

  • Capella University
  • FPX 5012
  • michaelndambuki
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Market PenetrationThe market penetration strategy is to ensure a large share of the market through a highlevels of customer satisfaction and brand awareness. Brand awareness will be improved throughthe allocation of money to advertising and product promotionMarket AdaptationPrices for Allstar Brands products will be adjusted on the basis of inflation and the pricesthat competitors offer for their products. There is room for improvement although because the student manual states that the internationaldistribution of Allstar brands is largely present in the European markets (James, Kinnear &Deighan, 2019) but does not say anything about other regional markets. Customers are dividedinto five market segments on the basis of family status and age. If the scope of the products ofAllstar Brands is increased internationally, continued growth of the company will be achieved. Marketing MixThe 4p’s of MarketingProductsUse of different formulae for different products and lower pricing will be used in makingthe products of Allstar Brands more appealing to the customers. This strategy will be used for
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MARKETING PLAN 14Allround. For Allround+, the marketing mix will be to implement a 12hr capsule. The alcoholcontent and cough suppressant will also be removed from the Allright product. PriceIn its pricing, Allstar Brands strives to keep its prices low through the employment ofdifferent strategies. When selling Allround, Allstar Brands gives discounts for the purpose ofkeeping prices lower and more appealing to customers than those of its competitors. The pricesof Allround+ are more competitive when compared to those of the company’s competitors. Thepricing of Allright is appealing to the customers in that, although it is higher than that ofcompetitors, it is fair in that the proportions of ingredients are higher and the product itself ismore effective than those of its competitors. PlaceThe methods that Allstar brands makes use of when delivering products to customers arethe same across all its three product offerings. The company sells its products either directly orthrough various intermediaries such as grocery stores, mass merchandisers, convenience stores,and independent drugstores among others.PromotionThe company employs different advertising techniques for its three categories of productofferings. The company advertises the benefits of using the Allround product by showing thedifferences between the product and the products offered by its competitors. Allround+ is alsoadvertised through its benefits and effectiveness. The Allright product is marketed as a non-drowsy product that caters for all the needs of children.Use of Technology and the Social MediaAllstar brands can achieve competitive advantage through the use of social media andtechnology. This the company could do through various measures that involve the use oftechnology. One of them is internet marketing which the company can do by promoting itsproducts through the web through methods such as pay per click and posting paid ads onwebsites. The company could also create its own e-commerce sites where it can sell its products.
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