business marketing
NEMO63
GreenTeamPreliminaryMarketingPlan.docxGreen Team Preliminary Marketing Plan – Mohammad, Ibrahim, Sara, Stacey, Dianna
Allround Preliminary Marketing Plan
1. IDENTIFY THE 5C’s SITUATION ANALYSIS
a. Company: Goals, metrics, strengths/weaknesses
|
Goals: |
Metrics |
Strengths |
Weaknesses |
|
1. Allstar stock price |
+10% per yr |
Brand, share, inelastic pricing, category growth |
Mktg. budget allocation, portfolio |
|
2. Allstar cum net income |
+10% per yr |
Brand, share, price |
Portfolio, sales |
|
3. Allstar annual net income |
$74M |
Brand, share, price |
Sales, shelf space |
|
4. Allround Market share |
41% |
Category growth, inelastic pricing, brand awareness |
Budget, sales coverage, R&D capacity |
|
5. Allstar capacity utilization |
93% |
Category growth, brand, 1-product, formula opportunity |
Alcohol formula, budget, growing portfolio |
|
6. Allround shelf space rank |
1 – retail |
MSRP advantage, brand awareness |
Budget constraints, sales coverage |
b. Customers: Customer needs, benefits sought, trends
|
Underlying Needs |
Benefits Sought |
Trends |
|
1. Aches |
1. Pain Relief |
1. 60.6% |
|
2. Nasal Congestion |
2. Decongestion |
2. 50.8% |
|
3. Cough |
3. Cough Relief |
3. 62.1% |
c. Competitors: Primary competitors and their anticipated strategies; how Allround will defend their strategies
|
Competition |
Primary Competitor’s Anticipated Strategy |
Allround Defensive Plan |
|
Primary competition
|
|
|
|
1. Besthelp |
Push |
More brand recognition through social media. |
|
2. Extra |
Push |
Promote Allround as cough suppressant |
|
3. Dryup |
Pull – New Product |
Emphasize the benefits of liquid |
|
Secondary competition |
Pull – New Product |
Increase product line |
|
1. CoughCure |
|
|
|
2. End |
Push |
Promote brand through social media channels |
|
3. Effective |
Push |
Same as above |
d. Collaborators: Which distribution channels or professionals will you collaborate with and how will you motivate them?
|
Collaborators |
Why |
Motivation |
|
1. Wholesale Stores |
They sell in bulk and will place large orders |
Trade Allowances |
|
2. Grocery store |
Very convenient and easy availability |
Trade Allowances |
|
3. Drug Stores |
Where people think to go when they sick |
Trade Allowances |
|
4. Gas station stores and corner quick marts |
Convenient |
Trade Allowances |
|
5. Doctor offices |
Promote doctor on our social media |
Promote doctors on our social media channels |
e. Context: Environmental factors that could affect your marketing plan
|
Economy |
Price Inflation |
Industry Growth |
Market Issues |
|
· Down |
· Down |
· Stand still |
· Less money |
|
· Growth |
· Growth |
· More products |
· More aggressive |
|
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2. CREATE YOUR PRODUCT MARKETING STRATEGY
a. Segmentation: Consumer segments available in PharmaSim
|
Illness Segments: |
Segment Opportunities: |
Segment Threats: |
|
Cold |
Gel Tabs |
BestHelp |
|
Cough |
Add Expectorant |
CoughCure |
|
Allergy |
Developing opportunity (new product) |
Believe |
|
Nasal |
Develop 12-hour formula |
DripStop |
|
Demographic Segments: |
Segment Opportunities: |
Segment Threats: |
|
Young family |
High Market Segment |
No children medicines |
|
Young single |
Promote as multi-symptom med. |
Price point |
|
Mature family |
High Market Segment |
|
|
Retired |
Promote as safe and effective |
Price point |
|
Empty Nesters |
Promote as safe and effective |
Low Market Share |
b. Targeting: Segments you will target and why
|
Target Segments: |
Why: |
|
1. Families needing Cold Symptom relief |
High brand recognition with this demographic. Loyal customer base. |
|
2. Adults needing cold symptom relief |
To capture the adults needing cold symptom relief market |
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3. |
|
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4. |
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c. Positioning: The value proposition you will promote by target market and the implications to the 4P’s
|
Target: |
Value Proposition: |
4P Implications: |
|
Families |
Relief from symptoms of the common cold |
#1 brand, Easy to find and get, frequent promotions |
|
Adults with cold Symptoms |
Same |
Same |
|
|
|
|
3. CREATE YOUR PRELIMINARY MARKETING PLAN
a. Product: Allround product formulation decision; decision advantages
|
Product Formulations |
Advantages |
|
Liquid 4 hour |
Easy to take, can adjust the dose because it’s liquid |
|
Drop alcohol |
For age use |
b. Price: Price sensitivity and purchase decision drivers by segment; Allround’s selected competitive pricing position (high/med/low) and Allround profit margin goal (5%, 10%, 15%)
|
Target Price Sensitivity |
Decision Driver |
Competitive Price Position |
Profit Margin Goal |
|
5.25 |
Low market share |
Low |
5 % |
|
5.49 |
Product not high or low market share |
Medium |
10 % |
|
5.99 |
High market share |
High |
15 % |
c. Promotion: Use a push or pull strategy? Message focus; ad agency selection, advertising budget allocation
|
Promotion Strategy |
Message |
Agency |
Budget Allocation |
|
push |
One Product for all your Cold Symptoms |
|
20 |
d. Place: Highest priority distribution channels and what drives self-space allocation in each channel
|
Priority Channels |
Self-Space Drivers |
|
1. Drugstore |
POS display, Coop advertising |
|
2. Wholesale Stores |
POS display, coop advertising |
|
3. Doctor office |
Promotional allowances/ trial size samples |
|
4. Grocery store |
POS display, Coop advertising |
|
5. Gas station/Convenient stores |
POS display, merchandisers |
