An additional strength is the brand had one of the highest intentions vs actual

An additional strength is the brand had one of the

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An additional strength is the brand had one of the highest intentions vs actual purchase rates between OTC brands. In other words, this means customers who intended to buy one of these products actually did it, as opposed to buying another, competitive product. The company also has the highest combined market share of all other OTC brands. Weaknesses : The cost of goods for the company is lower than what they should be. This can be seen as a weakness because Allstar places higher amounts of ingredients within their products when compared to the competition. Another weakness is that the stock price for the company is not as high as it could be. During period 2, stock prices dropped from $52.16 to $38.54. This is a substantial drop and is caused by a combination of things. This decrease in stock price also decreases the overall stock price. Another weakness is that the company only produced one product that is geared towards children. The current product that the Allstar has is successful, but it does not give the consumers options when choosing a medication for children.
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7 Opportunities: The opportunities for the company include more expensive competitor prices and changes in how alcohol in OTC products is perceived by the consumer. By listening to consumer needs, the company has the opportunity to remove alcohol from its products. Threats: One threat to the company is changes in laws that affect product formulations. Specifically, laws that regulate what can and cannot be added into the products in terms of ingredients. Another threat to the company is competition. Marketing Strategy Marketing has been a story of eras: from mass marketing to the direct marketing era to digital marketing, and now data-driven marketing. As marketing strategy changes and marketing resources shift, so do consumers and customer loyalty — today, consumers use more devices, ad blockers and other privacy protection tools, and still have increasingly sophisticated customer experience expectations (Parrish, 2019). Below is a description of the marketing strategies used for each period for Allstar Brand. Period 1 The only product that the company was producing at this time was the Allaround product. The marketing strategy for this period was to use social media to post items that were of interest from the view point of Allaround’s brand management team. This strategy allows consumers to access the different social media sites in order to interact with the company and receive the most updated product information. This period created the highest market share of 24.5% among all other OTC brands. Period 2 During period 2, Allaround OTC medicine continued to be the main product of the Allstar Brand. The marketing strategy for this period was to reformulate the already popular brand.
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