Marketing Plan for Pharmasim

3854 Words Mar 16th, 2013 16 Pages
A) Executive Summary
The management team at the over-the-counter cold medicine (OCM) group of Allstar Brands is looking to utilize revenue generated by Allround to help fund new opportunities in emerging markets. Therefore, it is critical that Allround maintain its market-leading position in terms of market share, profitability, and sales in order to fund these new initiatives.
While Allround is a leader in brand awareness and brand most frequently purchased, there are direct competitors to Allround. These competitors offer various products from general cold medicine offerings to single-use medicines. It is likely that these companies will continue to develop new offerings in that arena to have greater coverage across different segments.
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All competitors of Allstar’s are diversified into other categories of the OTC market and not dependent upon just the cold segment. This is one area where Allstar can potentially improve its sales and diversify its product lines. Although Allstar has the highest brand awareness, it also has the highest price amongst competitors. The fact that Allround has a strong reputation in the market place due to the product effectiveness allows Allround to maintain a higher price than its competition. All other competitors supply its OTC in capsule form, which is the preferred method of consumption by consumers. Allstar must be aware of the various formulations of the competitors, be selective in considering new products to market, and pay attention to newly offered products and the markets the competitors are targeting. The Allstar team needs to reassess the strategy and approach each period based upon competitor information while maintaining the long-term strategic objectives.
Economics

Allstar must monitor the economic conditions when deciding the appropriate budget allocations to advertising, sales force, promotion, and discounts. Inflation is a major influential factor that can affect total pricing and the costs of goods sold, which will affect the company’s bottom line. In

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