BUS 620 Managerial Marketing
Instructor: Jacqueline Gilliard
November 20, 2011
The company that I will be writing about is called Aleve. Aleve is an OTC drug that is made from the company known as Bayer. This medication is known for being a pain reliever that provides relief for a variety of condition. Just like any other company, Aleve has to be able to create a marketing plan. This plan has to be very strategic in order to gain customers and investors. The company must choose a market that they want to target. By doing this they must find out information about their competitors. This information will help them to come up with a marketing strategy that will tell customers why they should purchase Aleve over the competitor’s products. Aleve must take the information that they receive which would most likely be the active ingredients and what the competitor’s pill is able to do. They should take this information and compare it with theirs so that they could come up with a marketing plan. When coming up with a marketing plan you must be able to budget properly. You must get a description of the area that you are targeting. You should also figure out a pricing strategy. This will be important when it comes to being able to sell to customers and being able to make a profit at the same time. Last but not least is being able to implement this plan. In implementing this plan we must realize that marketing a product is the same as cultivating a living organism because it takes work for it to grow and blossom from the small thought that it originally was. Aleve is an OTC medication that is a brand of the BAYER group. Bayer is known for making a large amount of pharmaceutical drugs. They make OTC drugs, animal health care, plastics, and high-performance materials, crop protection, and home garden care (Bayer: Science For A Better Life, 2011). The corporation is known for making brands like Aleve, Alka-Seltzer, and One-A-Day vitamins and the company is a top seller in multiple sclerosis treatment Betaseron and birth control pill called Yasmin (Mackenzie, 2011). Aleve is a product that can aid in any medical symptoms that someone may have. It aids in things from arthritis to the common cold. Not only is the company focused on illness and well being but they do a little bit more than the average medicine manufacture. This company is also known for having social involvement by their own foundation. The foundations are there to promote science, education, and social activities. The group also has competencies in the fields of health care, nutrition, and high-tech materials. The company wants to be able to help improve the quality of life for others. Bayer also creates value through innovation, growth and high earning power. The company wants to stay committed to their principles while maintaining their role as a socially and ethically responsible corporate citizen. As you have previously read, the name of the company is Bayer. The product that we are re-advertising is called Aleve. Our goal and mission is to provide care for each and every consumer at an affordable price. We also strive for the best in everything that we do. We believe that as an organization, we grow through each and every person that we are able to help (Aleve, 2011). Our management team is committed to serving the interest of the enterprise while continuing to increase the value of our corporation. Our team believes in enforcing the principles that are in our corporate policy. While doing this we define our strategy to set our budget through the allocation of corporate resources. The executive team will be responsible for publishing reports quarterly and preparing financial statements for the Aleve Group and the Stakeholders. This team will also make sure that the supervisory board receives regular, timely and comprehensive information about Aleve products that relates to the marketing plan (Bayer: Science For A Better...