order to find out what consumers are interested in why they continue to buy the

Order to find out what consumers are interested in

This preview shows page 12 - 15 out of 17 pages.

order to find out what consumers are interested in, why they continue to buy the products they do, promotions, and how often they purchase the product. Knowing buyers behaviors will assist the marketing team in future promotions and products. Allstar is considered with who their competitors are and what their brands are doing to keep a competitive edge. Tracking competitors and their brands will assist with development of Allstar’s new products. Target marketing through different channels allows Allstar to encompass a variety of consumers. Including online and in store sales enables Allstar to reach all ages of the spectrum. Allstar brands focuses on their salesforce and their effectiveness along with brand awareness. This will allow Allstar a competitive advantage against their competitors. Overall Allstar chose to increase the sales team for each period to ensure they continued to have brand awareness and support from the physician population. Giving the consumers what they desired in symptom relief and eco-friendly product that was readily assessable in many locations, including at the front of the stores, was critical in Allstar’s marketing tactics. Purchasing the consumers survey not only allowed Allstar to see what was good but where there could be improvement. In order to capture the younger generations Allstar will need to allocate alarger budget towards digital and social media advertising.Marketing TacticsThe concept most commonly used to evaluate and implement a product is the 4 P’s. Marketing tactics include communication, pricing, product, place and promotion. Allstar brands use many different communication methods from social media to paper ads. Price – The MSRP (manufactured suggested retail price) is the price consumers expect to pay foran item. Allstar’s MSRP is perceived to be average with the medications effectiveness being average. The current product is perceived price was high and the perceived effect was average. Allstar was not the most expensive among the competitors but was purchased the most often. Continuing to survey the market will ensure Allstar keeps their price within the consumers’ expectation of what they are willing to pay for the medication.
Marketing Plan13Product - Allstar brand currently only has Allround in their product line. Even though this product has served them well it is time to introduce other products into the market like allergy medicationor a 12-hour medication. This will allow them to be more competitive in the market. Place - A two year period is shown below for each channel of sales. The grocery store still continues to be the strongest place Allround is sold at with chain drugstores coming in second. However, independent drugstores are starting to show a decrease in sales. Convenient stores stillcome in last with sales due to the higher prices they sell the product for. Having their product onthe front shelves of many of the grocery stores enables for increased brand awareness as well as sells.
Marketing Plan14Promotion -

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture