Marketing and Product

Topics: Marketing, Noble gas, Product life cycle management Pages: 9 (3375 words) Published: November 13, 2009
Allstar Brands’ OTC Cold Medicine Group

Mission Statement
Allstar is a Pharmaceutical company with an over-the-counter cold medicine group. Our company’s mission is to improve the condition of people’s lives by providing high quality products to customers, deliver outstanding value to our stockholders, and fair opportunities to our employers. To our customers we promise you the highest quality products and the best service. We promise to stockholders that we will keep our company growing and work on increasing the shareholder value. We want to be fair and in return reward you with a sound profit. We will work to reduce prices to maintain reasonable costs and increase customer usage. Through intense research and development, we will experiment with new ideas and launch new products. We promise to employers that we will respect them, provide them with security and fair compensation. By doing these things, we hope to deliver outstanding values to all of our customers, stockholders, and employees in the OTC cold medicine industry.

Marketing Objectives
As a team, our marketing objectives for the 10 periods of the product life are: 1. To keep the company growing by dealing with the Product Mix where we would introduce a new product line when our old products reached their Mature and Decline stage of the product life cycle. 2. To increase revenues by increasing the Price so that it does not go below or too far above the straight line from the tradeoffs plot. 3. To expand our markets by deciding where it would be worthy to invest our money in which Distribution areas-mass merchandising, wholesale, merchandisers, and retailers; and in which channel-in Independent drugstores, Chain drugstores, Grocery stores, and Convenience stores. These decisions are based on our unit budget. When we have a lot of budget, we increase the distribution areas as well as the channel and decrease or keep them the same when our budget is low. 4. To increase sales by controlling the Advertising budget-advertising agency and advertising message; To increase the ad agency when we have more budget, and to increase the primary and benefit ad message when our products are in their Introduction and Growth stage while increase the comparison and reminder message when our products are in their Mature and Decline stage 5. To increase customers’ usage by adjusting the Sales Promotion based on our unit budget that we obtain from previous sales-that is to increase/decrease Promotion Allowance, Co-op Ads, Point of Purchase, Trial Size, and Coupons so that they would become incentives for customers to try and buy our products. Dealing with Product Mix would extend our line of products and eventually would increase our sales due to the new launched products or reformulated products. With controlling the Price, it would increase our revenues when the price goes up. With Distribution areas, it would help us to allocate all of our products around the country. This would help us build up customers and the brand awareness. With controlling the Advertising section, it is the most important part of Marketing since it helps us to get our message across the nation as well as through customers. Most of our sales are based on advertising because the more we advertise, the more people will notice our products and eventually they will try our products. This increases our sales as well as the stock price. Last but not least, with adjusting Sales Promotion, it gives incentives to customers to try out our products. In all, these objectives are the keys to increase our sales, the stock price, and the amount of customers across the nation within the 10 periods of our product life. Our company’s position (compare to other companies in the market) is depending on how well we manage each objective. Therefore, through our 10 periods, our stock price varies from periods to periods because sometimes we did not manage our unit budget well over...
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