marketing rough draft paper

Mission Statement

In the world we live in there is always someone getting sick or having symptoms of the dreaded cold. It is our job here at Allround to provide our customers with the most efficient and effective over-the-counter cold medicine on the market. When choosing a over-the-counter cold medicine, it is important to find a brand that listens to its customers needs, wants, and desires, and that is exactly what you will get with the Allround brand.

Marketing Objectives

When a company is deciding how to approach a market, it is important to set goals to meet. By setting different goals or objectives to meet, this allows a company to successfully improve from period to period, and improve what didn't go well the period previous.

Successfully implement marketing decisions to raise the overall stock price of the Allround brand to 25% above current market value. Ex: $40 stock price, new marketing team is expected to raise it to $50 by 14th year.

Increase amount of Direct Sales force, in Independent Drugstores, Chain Drugstores, Grocery Stores, Convenience Stores, & Mass Merchandise stores. As well as increase amount of Indirect Sales force in Wholesaler Support, Merchandisers, and Detailers. New goals for sales force will be set at the beginning of each period based on the previous period’s report.

Successfully implement brand extension products into the Allround product line. By increasing the amount of products that Allround offers will help increase our brand awareness as well as offer the potential for more revenue if the new product proves to be successful.

Brand awareness in marketplace in the 14th year will maintain above 70%, while also finding new innovative ideas to increase brand recognition.

Conduct monthly surveys with customers to find out where the brands weakness’s are, customers thoughts on what they think can improve the brand.

Maintain positive relationships with sales force, offer incentives for promoting Allround within their stores / providing better shelf space for the brand.

SWOT Analysis/Target Market

Strengths:

Brand Awareness is over 80%. Compared to competitors this is an outstanding asset to Allround.

Effective product formula means continued brand loyalty from current customers.

Weakness’s:

Demand for product is to high with not enough sales force to handle it all.

Opportunities:

Opportunity for price of product to increase is possible due to the high demand, making it also acceptable and possible for the sales force to increase bringing in new outside sources to help with the extra demand. This is building a new relationship which can help promote the brand and help keep brand awareness at an all time high in the following years.

Threats:

Target Market: For our current product the target market is considered to be a person with one of the following symptoms; or someone picking up the over-the- counter medicine for someone with the following symptoms.

Headache

Fever

Sore Throat

Nasal Congestion

Cough

Post Nasal Drip

Target Market Continued: However, if the brand in the future is to add onto the line of products it carries, the possibilities of target marketing can be endless. For example some of the most popular and in high demand products are pain relievers, sleep aids, multi-vitamins, herbal teas, etc. Depending on how the brand decides to go in the future is how one can decide what the target market should be to generate the best reviews and most revenue.

Marketing Activities

Lessons Learned