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have grown up using the internet. While targeting specific segments of consumers is important, so are the channels Allstar Brands chooses to offer its products. Online and offline channels, while equally important, need to include specific characteristics to entice purchases. “This could include things like recognizing a repeat customer, offering personalized recommendations, elevating the service around an online purchase/in-store pickup moment, and making customer service easy to locate and engage (Andrick, S., 2019).Positioning“An effective positioning strategy considers the strengths and weaknesses of the organization, the needs of the customers and market and the position of competitors. The purpose of a positioning strategy is that it allows a company to spotlight specific areas where they can outshine and beat their competition” (Lombardo, J., n.d). Allstar Brands has focused on brand awareness, salesforce and entered into the market a new medication that other firms do not have, the non-drowsy allergy medication. These factors have positioned the firm to gain substantial competitive advantage. 14
Overall Marketing StrategyAllstar Brands chose to increase its salesforce during each period. Promoting the products and gaining brand awareness and physician support for current and new products absorbed a large amount of the budget. Segmenting the target audience by connecting with consumers regarding their needs for symptom relief and desires for an eco-friendly product that was easily assessible in many store fronts was equally important to Allstar Brands. To compete in the market, Allstar Brands purchased consumer surveys to research behaviors and attitudes toward the products and competitors. These surveys allowed the marketing team to strategically analyze gaps other firms, or Allstar Brands, could improve. Pricing ofall three products steadily increased to absorb rising costs and to stay competitive. Going forward a larger allocated budget would benefit Allstar Brands in the departments of digital advertising and social media exposure. Marketing MixThe marketing team of Allstar Brands strives to put the right product in the right place at the right price and time (Martin, 2014). The 4 P’s of marketing is a concept that is widely utilized to evaluate and implement a product. The 4 P’s consist of analyzing the price, product, place and promotion. PriceThe MSRP (manufactured suggested retail price) sets a level of price expectation for the consumer and retailer (Kinnear, 2019). The survey below lists the attitudes of consumers of each firms MSRP. Of the three products Allstar Brands offers, the perceived prices were considered very high, average and low. While Allright is the most expensive product Allstar Brands sells, it is not the most expensive of its competitors, but it is the least purchased by consumers. Allright, the non-drowsy allergy medication is the only type of its kind on the market and recently introduced in Year 6 which may explain the low percentage of purchases.