Continued marketing efforts and surveys will determine a change in consumer

Continued marketing efforts and surveys will

This preview shows page 15 - 18 out of 19 pages.

Continued marketing efforts and surveys will determine a change in consumer perception as Allright becomes more recognized. The survey illustrates that there also may be room for a price increase for the children’s medication, AllroundPlus, as it is perceived as a low price while Allround appears to be priced competitively in the minds of consumers and has the largest purchase percentage. 15
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Product Allround is Allstar Brands longest and most well-known brand of the three the firm now manufactures. AllroundPlus, a children’s medication was introduced in Year 4 to compete in the children’s market share and Allright, a non-drowsy allergy medication was introduced in Year 6 to compete in the allergy sector, however, Allright is the only non-drowsy medication on the market and is expected to spark high consumer interest in Year 7. Sales for the two new products are expected to increase as marketing efforts allocate salesforce, advertising and promotional funds to gain recognition. Going forward Allstar Brands has significant market share to gain by manufacturing 12hr capsules and non-drowsy cold meds without alcohol. Place Through the 6-year period, the strongest growth in sales for each collaborator or channel are shown below. Mass merchandisers continuously increased sales year after year, while convenience store showed the least amount of sales. Retail prices in convenient stores are typically higher than other channels which may correlate to the decrease in sales. Product placement on shelves also directly influences consumer purchases. Marketing funds have contributed strongly to shelf space in Mass Merchandiser channels which has been shown to have a direct effect on consumer purchases. Consumer surveys suggest that the integrity of a product, how it is shelved, advertised, solves symptoms and priced is important. Lack of sales in convenience stores would suggest poor product placement and higher prices. Promotion The marketing team promotes each brand through television and radio, social media, digital advertising and print advertising. Budgets fluctuated as new products were introduced and additional funds were deemed necessary to market the new products. Advertisement messaging was focused on benefits for the new products as well as comparing their effectiveness to comparison brands. Going forward, Allstar Brands should consider allocating more marketing funds to advertising to build brand awareness for the 16
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new product lines. Continuing to use eco-friendly packaging is also in the best interest of the firm as consumers have reacted positively to the change and enforced Allstar Brands positive reputation. Social Media and Technology Strategy Strategy Marketers face the challenge of connecting with consumers through cell phones, tablets and laptops in real time and creating campaigns that incorporate social media, digital advertising and e-commerce (Benady, 2014). While Allstar Brands had budgeted funds for digital advertising, social media and search
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