18 Survey of Tradeoffs Survey of Tradeoffs Cross Section all respondents 1000

18 survey of tradeoffs survey of tradeoffs cross

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1.8- Survey of Tradeoffs Survey of Tradeoffs Cross Section: all respondents (100.0%) Brand MSRP Perceived Price Perceived Effect Purchased Allright $4.50 Very Low Low 1.0% Allround $4.99 Low Average 23.2% Allround+ $5.50 High Low 2.8% Besthelp+ $5.29 Average Low 4.5% Coldcure $5.79 High Low 7.3% Coughcure $6.89 Very High Low 6.0% Dryup $5.19 Average Average 5.2% Threats When it comes to the external threats that Allstar brand can’t control but may affected by, the introduction of End+ stands out. Within period # 5, Ethik one of Allstars biggest competitors announced the introduction of their new brand by the name of End+. Because this product is very comparable to Allright children’s cough medicine, it could be considered as a threat. The only
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MARKETING PLAN OF ALLSTAR 13 difference between the two products is that Allright contains an analgesic while End+ doesn’t. There is also a difference between the products prices, End+ has a MSRP of $5.69 while Allright has a MSRP of $4.50. With this, out of all of the OTC brands End+ also was purchased 2.6% of the time while Allright was only purchased 1% of the time. End+ is clearly a threat, but Allright could mitigate this threat by continuing to advertise the differences between the two products. Another threat that Allstar could potentially face someday is changes in healthcare laws. In particular, it would the laws and forces that regulate what ingredients can and can’t be placed within OTC products. Changes like these are inevitable and in order for Allstar to mitigate some of the risks, they should explore and survey many different formula concoctions for their already popular products. Marketing Strategy Overall Market Strategy and competitiveness for Period #1 For Period # 1, the only product that Allstar was producing was their Allround product. The marketing strategy for this period was to utilize social media (Facebook/Twitter) to post items that were of interest from the view point of Allround’s brand management team. The strategy is to allow the public to subscribe to theses social media accounts to interact and get the latest product updates. This period created the highest market share (24.5%) among all OTC brands based on all manufacture sales Overall Market Strategy and competitiveness for Period #2 Within Period # 2, Allround OTC medicine was still the sole product of Allstar brand. The marketing strategy for this period was to reformulate the already popular brand. The three options were to either switch the formula from a cough suppressant over to an expectorant or to drop all of the alcohol that’s contained in the products completely or to keep the current formula. Since the product is already successful, the market strategy for this period was made to keep the original Allround brand formula. When it comes to the competitiveness of Allround, Dyrup is a competitor but Allround is still dominating the market share of all OTC brands with 23.1% of overall manufacturer sales.
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