suppressant to expectorant rather than removing the alcohol and becoming a

Suppressant to expectorant rather than removing the

This preview shows page 14 - 16 out of 19 pages.

suppressant to expectorant rather than removing the alcohol and becoming a medication suitable for children. This decision would have narrowed the margin of revenue as the children’s market may have proven to be a market too small to focus and maximize profits within. In addition, targeting the most effective channels, both online and offline, is vital for Allstar Brands. Ways to target consumers within the baby boomer generation along with millennials who have secured a dependency to technology includes personalization emails to consumers, customer satisfaction survey requests, specific shopping cart reminders, and also tracking emails to see how many are actually opened (Agrawal, 2016). A tracking system alone can analyze the number of click- throughs, conversions, lost subscriptions, and monitor device accessibility to ensure correct allocate of budgeting toward digital advertising efforts. A positioning strategy involves developing a marketing campaign that direct presents the value of the product in a way that the audience will appreciate (STP Model). This step considers the unique selling points of the product, strengths and weaknesses of the company, along with the needs of the customer. Allstar Brands has remained the leader in brand awareness and continues to focus on this aspect including an increase in promotion while offering customers the best quality of medication. To further sustain this leadership position in brand awareness, the company must focus on increasing salesforce to support the new formulation following year 2 along with increase in marketing and advertising. Going forward, Allstar Brands must continue to invest in market surveys to keep the focus on consumer interests, demographics, and most common symptoms within those demographics. In
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ALLSTAR MARKETING PLAN 16 addition, Allstar remains knowledgeable about consumer behaviors, pricing, promotions, and accessibility to the product which helps them to better allocate funds. Surveys also allow for feedback from customers regarding what was effective about the product and what aspects could use improvement. These factors have allowed Allstar to maintain a competitive advantage among the other firms and has kept their brand awareness and satisfaction among customers extremely high. The marketing strategy going forward is to increase salesforce to handle the influx of a new product and a larger allocated budget for digital advertising and social media efforts. Marketing Tactics To ensure continued success, the marketing team utilizes the four P’s that makes up the marketing mix of tactics. This concept includes analyzing the product, place, price and promotion to have these factors align. Allround is the brand’s most well-known product and the first product that was introduced. Allround Plus, was the reformulation of Allround in year 2 which went from a cough suppressant to an expectorant along with being a form that reduces the amount of side effects for consumers. Sales for both products are expected to continue to rise as Allstar Brands will place
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