Marketing and Branding

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Pharmasim Simulation Rough Draft Marketing 301-003, Professor Jamir Savla Group 2: Rachel Tzapp, Anora Suber, Narissa Suber, Rupal Amin TABLE OF CONTENTS Mission Statement……………………………………………………………………….. 3 Marketing Strategies…………………………………………………………………….. 3 S. W. O. T. Analysis Strengths…………………………………………………………………………… …5 Weaknesses………………………………………………………………………. 7 Figure 1, BCG Matrix…….. …………………………………………8 Opportunities……………………………………………………………………. 9 Threats………………………………………………………………………….. 10 Marketing Activities……………………………………………………………………11 Figure 2, Pricing Graph……………………………………. …. 14 Figure 3, Advertising Budget Graph………………………. ……. 15 Lessons Learned……………………………………………………………………… …17 Mission Statement: Allstar Brands’ over-the-counter cold and allergy remedy Allround will continue to be a leader in the market for over-the-counter cold medicines, and will remain competitive in stock price among our other companies within a ten year span of operations. This goal will be accomplished through the careful surveillance of our top competitors, as well as through strategic planning to evolve our product to suit the desires and needs of consumers. The branding team will control the financial growth of our product by implementing cautious pricing and promotion strategies, while increasing our distribution to where our consumers will be most likely to purchase it. Marketing Strategies: • Objective #1: Increase the stock price by 5% each year until 100% overall increase o Through effective advertising and promotions the consulting group desires to increase the stock price annually. • Objective #2: Increase loyal customers by 15% Through promotions and allowances it is desired to gain the loyalty of customers who have not yet made Allround purchases. Reminder advertising will be used to maintain the loyalty of consumers who have used the Allround brand in the past. • Objective #3: Increase sales by 50% by focusing on targeting a diverse consumer base o Target different audiences through the use of different advertising agencies. The management team believes that if it can diversify the market, the firm would receive more recognition from the public as a whole and therefore would have an advantage profitable for Allstar. Objective #4: To have greatest market share by 40% in the next 5 years o Through introducing and maintaining new products within 5 years. o If risk appears too great, budget left over for product introduction will be re-directed to the budget for promotion. • Objective #5: Keep up with changing environment of the market for the duration of the ten year period o Keeping up with the changing environment and competition so that product becomes the only inexpensive cure to its consumers. (e. g. nflation- change in price) • Objective #6: Increase brand awareness from 45 – 60 % in the next 2 – 3 years o Increase advertising and promotional allowances for the new products of the firm as well as decreasing advertising for past products and getting resources for the most efficient and practical medicine for the most common diseases. • Objective #7: To parallel changes in price to percentage changes rise of the rate of inflation o Prevent a price hike so as to stay relatively cheaper than our competitors without losing profit. Create an image of affordability for all consumers so as to attract members of various household incomes.

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