Allrounds marketing budget must cover all advertisement sales force and

Allrounds marketing budget must cover all

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Allround’s marketing budget must cover all advertisement, sales force, and consumer and trade promotion expenditures. Any marketing research purchases is a budget expense. Promotion allowed is treated as a price discount and never charged against the budget. Every year the marketing budget is adjusted based on net contribution and sales performance. Budget debiting are not permitted and unused budget cannot be carried forward to the coming year. Allround brand management group can determine the best way to allocate the available funds by implement the marketing efficient index (ratio of net income / marketing expenditures) to track its performance (PharmaSim, n.d.). Allround is known as the market leader in the over-the-counter cold and allergy medicine over its competitors. Its success is derived from its sales and profitability. Period #0: Allround saw a retail sales growth percentage of 23.4% from all the stores it currently sells with its competitors and maintains the highest percent growth. Period#1: Allround saw a retail sales growth percentage of 24.1% from all the stores it currently sells with its competitors and maintains the highest percent growth. It had a higher retail sale in Period #1 than it did in Period #0. Period #2: Allround saw a retail sales growth percentage of 20.9% from all the stores it currently sells with its competitors and maintains the highest percent growth. It had a lower retail sale in Period #2 than it did in Period #1. The retail sale growth had decreased over time from its highest growth percentage to what it currently has in Period #2 by 3.2%. The stock price per unit was $38.35 in Period #0, $51.58 in Period #1, and $40.18 for the AllStar brand. AllStar needs to find ways to increase its 12
retail sales growth, try to look at what was done well in Period #1 and Period #0, then incorporate it with things that are working well in Period #2. Controls Increase brand awareness by 5% - now it is at 78.5% Increase sales by 5% - now it is at $355.3(m). Increased retail sales growth by 5% - now it is at 20.9%. Increase retention ratio by 5% - now it is at 45.2%. These set goals will be met by key success factors such as strategic marketing campaigns and defined objectives to get these performances set goals met. Allround brand will have to increase its sales and continue to increase its leadership in the over-the-counter medicine to increase its market share. Increase in brand awareness would help drive the market share and product sales ultimately, the more people who knows your product the more sales you acquire. Summary AllStar strategy report will be focused on critical factors that will ensure long-term marketing plan. These critical factors are the continuous development of unbeatable product, outstanding advertising, and being the first product in the market. The primary goal of AllStar managers is to continue to be the leading provider in over-the-counter medicine while also increasing its market share. Plans to achieve these goals has to be made in order for the company to be successful.

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