08140700100000004962525AllRound Marketing Plan Group 8:
00AllRound Marketing Plan Group 8:
Table of Contents
TOC \o "1-2" \n "2-2" \h \z \u Executive Summary PAGEREF _Toc340506951 \h 2Description of Organization2 Mission StatementOrganization DepartmentsSituational Analysis4 SWOTBusiness Portfolio AnalysisMarketing MixExternal Situation AnalysisComponents of Competition Consumer Analysis
Advertisement and PromotionIncome StatementPercentage of Budget Contingency Plans PAGEREF _Toc340506973 \h 6Alternative Strategies Abandonment Points
AllStar brand is one of the leading manufacturers of packaged goods throughout the world. In our North American over-the-counter pharmaceutical division the product AllRound has proven to be a successful market leader in the cold, cough, allergy, and flu market. This marketing plan highlights the current success, competition, and strategy for AllRound to gain a larger market share in the OTC market. AllRound is the ideal product on which to focus our marketing attention because of its recent growth and success. In consumer surveys the AllRound brand name is widely recognized and loyalty is notably related to the effectiveness of the product. Much of AllRound’s success is due to its efficiency in its ability to treat multiple symptoms. Though the price qualifies it as a more expensive OTC medication, it is unique because it provides maximum strength multi-symptom relief. The strong multi-symptom relief formula has given us a competitive edge against our competitors. There are a large number of competitors within the over-the-counter cold, cough, allergy and flu market. Many products are provided with a variety of formulas within the FDA regulations. AllRound holds a large share specifically in the cold remedy division and has not yet become competitive in the cough, allergy, and flu divisions. The strategy is to leverage the already recognized AllRound brand name and to diversify to stay competitive in an ever changing competitive market. Additional advertising will increase the awareness of the current AllRound formula. Additionally the launch of a newly formulated multi-symptom non drowsy expectorant will give AllRound a competitive leap into the cough division of the over-the counter market. Consumers are already attracted to our brand name so a new alternative in the cough division will aide in market share expansion. Awareness of the brand can further be used to promote future introduction of the product overseas. DESCRIPTION OF THE ORGANIZATION
Integrity driven company devoted to the constant development of health and wellness enhancement for society. Organization Departments
The marketing department will work interdepartmentally within the organization and externally with our customers and supplies. We are to scan for possible changes in external factors. Though thought to be unpredictable, accurate predictions of future external environmental factors allows our company to effectively predict and manage any situation. Often such situations can be advantageous if handled accurately.
FORCE ENVIRONMENTAL SCAN FOR ALL ROUND
Social Social preference leaning to more organic or homeopathic medicines. Doctor concerns of over-medication in multi-symptom. On the other hand some prefer the convenience of one single medication to cover many ailments. Concerns on alcohol content to be removed for a non-drowsy formula. Economic Demand for different type of products (multi-symptom vs single symptom). Higher price of Allround can be a deterrent. Technological New technologies allow for improved product development, creation, and shipment. Competitive Need to stay on edge, always develop & diversify as with...
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