Allstar Brands Over-The-Counter Cold Medicine Group
May 15, 2014
PHARMASIM Simulation
Initial Strategy Report
Allstar Brands Over-The-Counter Cold Medicine Group
May 15, 2014
PHARMASIM Simulation
Initial Strategy Report
PHARMASIM Simulation Initial Strategy Report Presented by Group D
This report is Part 1 of assignment for Marketing MBA 565-MBOL1 to Dr. Stephen Baglione
Table of Content Executive Summary...………………………………………………………………………..2 Project Objectives………………………………………….…………….…………..2 1.0 Vision………………………………………………………………………….…………..3 1.2 Objectives…………………………………………………………………….……….…..3 1.3 Key Success Factors………………………………………………………………….…..3 2.0 Target
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Our company provides a unique formulation of cold and allergy medications that are effective and proven to give us a competitive advantage. Allstar Brands’ provides consumers, physicians, mass retailers, and wholesalers with pricing and promotional allowances that are scalable and market friendly. The product is effective and chemically efficient as shown in research market and consumer reports. Allstar Brands’ is a solid and sustainable company that has been in business nearly 100 years.
We will maintain our competitive advantage and bolster our profitability by introducing new products.
Vision
Allstar Brands’ brand management team will make decisions based on the assumptions gained from corporate standings and market research. Allround cold medication will capitalize on its high brand awareness and solid market share to increase revenue through promotional allowances, product diversification and bigger direct to consumer promotions. Our primary focus is direct channel distribution to mass merchandisers, large grocery stores and chain drugstores. New product reformulation for children’s medicine and adult capsule are expected to increase market share and long-term profitability. We predict a reduction in advertising costs due to strong brand awareness. 1.2 Objectives To manage Allstar Brands’ Allround product and lead the pharmaceutical industry. * Gross the maximum Market Share * Gross the maximum Stock Price * Gross the maximum Net
Allstar is one of the leading companies in the OTC cold and allergy remedy market with the second
This discussion question is based on a case study. As in all case studies, review the facts of the case and consider the various steps of the nursing process in order to address the critical thinking questions.
In today’s business world, production cost was an increasing concern for companies working to stay competitive in the global marketplace. The top management must search for a global solution to drive down costs and reduce difficult activities associate with inventory management and production management. Global sourcing aimed to exploit global efficiencies in the delivery of services and goods across geopolitical boundaries, including low cost skilled labor, low cost raw materials, tax benefits, and price breaks. Whelan Pharmaceutical was the best example to illustrate how the company chose the best manufacturing site for global sourcing from different perspectives.
Providing Over-The-Counter medicine Allstar targets people who have common health problems. The best way to segment Allstar’s customers would be by the following two major categories: illness (cold, cough, allergy) and demographics (young singles, young families, mature families, empty nesters, retired). Allstar Brands invests in marketing research to learn about the ever changing preferences and trends of the market. The information the Company gathers from this research is then used to make according decisions to satisfy each particular category of customer.
• Product Range: Superdrug offers its customers an average of over 10,000 products (Michael Page, 2006). Moreover, its own-brand products account for over a quarter of total sales, which adds to its strength. However, it diversifies into other product areas vis-à-vis in-store pharmacies (225 to date), in-store fine fragrance counters (240 to date), Vitamins and non-prescriptive medicinal products, Baby toiletries, food and accessories, Hosiery Drinks and snacks, Photographic processing and film accessories Newspapers and magazines (400 stores) Household accessories (Superdrug.com,
From a strategic viewpoint, it is my belief that Pills & Co should make a play to purchase Star Genomics for these reasons:
1. There are a number of types of materials and equipment needed for the administration of medication via the different routes. They all serve a type and purpose these include:
The intended use of medications is meant to improve a person’ health, it is very important the individual administering medication or self-medicating use the drugs correctly, by following the doctors’ instruction for the medication prescribed. Medication is given to diagnose, treat, and prevent illness. Medication can be very dangerous, which can potentially cause harm or even deaf if it’s not used properly.
This dissertation is submitted in partial fulfillment of the requirements for the Degree in Marketing Practice
By selling our product in well-established stores, we greatly eliminate the risk of our product being unrecognized. Our promotional activities are specifically designed to reach our target market and our focus group answers give us confidence that our projected goal of reaching 60% of those elders affected by arthritis is a realistic and profitable starting point. Together we can work towards taking over this target market while improving the lives of our elderly
In our experience with Pharmasim we learned that Marketing decision making must be very sensitive and responsive to everything going on in the industry which is very complex. Consumer responses to marketing tactics can be volatile and unpredictable and no idea is guaranteed to work well. Marketing is a matter of meticulous research, assumptions, planning, and volatility at times. Overall we took away two major points: 1) that it is important to consider the product lifecycle in evaluating how to promote businesses and, 2) that the “Sweet Spot” as a competitive advantage should be the greatest point of consideration when evaluating how to best gain leverage to beat the competition in the minds of
As the brand manager for Allround cold medicine, there were many decisions regarding product formulation, strategy, line extensions and product launches over the company’s last 10 periods. The brand was focused on remaining a profitable, mature product family within the cold medicine category, but also maintaining a premium brand image.
Dissertation in International Marketing 30 ECTS 9 th November, 2006 Authors: Awan, Anam ul Haq Ali, Shahzad Supervisor: Gabriel Baffour Awuah
Today in the 21st century the roles of pharmacist have expanded tremendously. Before pharmacist had the role of solely dispensing drugs. Pharmacists were limited to only being regulatory or clinical pharmacist. Back then they were called medical purveyors who were much like today’s regulatory pharmacist and hospital pharmacist who are similar to hospital pharmacist. Now pharmacists carry many roles in healthcare. Pharmacist can play roles in public health, community, health systems, state, and federal government.
They believe in long term brand building by operating the business with Brand values; values that Eskayef embodies to its core. Most Pharmaceutical companies relies on the quality of their medicine and the trust of people on those medicines especially the doctors and veterans who prescribes these. Eskayef’s brand strategy focuses building and delivering upon five major values,