Pharmasim Preliminary Market Strategy

1771 WordsFeb 21, 20138 Pages
PharmaSim Case Report February 13, 2013 Identification / Description of the Problem: Allstar Brands' over-the-counter cold and allergy remedy Allround will continue to be the market leader among OTC cold medicines and continue to increase its stock price over the next decade in order to remain not only competitive, but the premier stock choice among competitors in the OTC cold and allergy remedy market. To further grow the Allround product it is essential to build upon the current strengths of the brand, but also seek additional areas for opportunity and growth. These goals will be accomplished by evaluating competitors entering the OTC cold and allergy remedy market and through careful planning and execution to enhance…show more content…
Large influx of competition into the market. Industry Growth 4.3% forecasted industry growth with a .9% population growth. The industry’s growth represents $82.1 million in retail sales. - Competitors: Primary competition along with anticipated strategies and contingency plans. Primary Competitors Competition's Anticipated Strategy Defense Plan 1. BestHelp Advertising, coupons, trial programs Increase awareness 2. Dryup Promotional Increase awareness 3. Extra Price Increase awareness - Customers: Why, where, what do they wish to receive, satisfaction? Possible changes to plan. Reason for Purchase Cold and cough symptoms Needs Getting over the cold Benefits Relief from cold symptoms Trends and Changes New, non-alcoholic, formula Point of Purchase Chain drugstores, Grocery stores Satisfaction and Retention High satisfaction, somewhat low retention - Collaborators: Who are we using to promote our product, and how do we motivate them? Who Why Motivate Pharmacists Customers value and trust the opinions of pharmacists Market that boosting the sales of Allround will also boost drugstores sales Chain Drugstores Statisticaly a high volume of sales come from these Promoting this product will boost sales and garner more customers for both Allround and the drugstore Grocery Stores Statisticaly a high volume of sales come from these Convince that this is the best OTC cold medicine and that stocking this will increase store sales Doctors Doctors could

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