i need help with my Marketing HW
Malnafea
pharmasim_preliminary_marketing_plan.docxPharmaSim Preliminary Marketing Plan
1. IDENTIFY THE 5C’s SITUATION ANALYSIS
a. Company: Goals, metrics, strengths/weaknesses
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Goals: |
Metrics |
Strengths |
Weaknesses |
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1. Allstar stock price |
+10% per yr |
Brand, share, inelastic pricing, category growth |
Mktg. budget allocation, portfolio |
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2. Allstar cum net income |
+10% per yr |
Brand, share, price |
Portfolio, sales |
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3. Allstar annual net income |
$74M |
Brand, share, price |
Sales, shelf space |
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4. Allround Market share |
41% |
Category growth, inelastic pricing, brand awareness |
Budget, sales coverage, R&D capacity |
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5. Allstar capacity utilization |
93% |
Category growth, brand, 1-product, formula opportunity |
Alcohol formula, budget, growing portfolio |
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6. Allround shelf space rank |
1 – retail |
MSRP advantage, brand awareness |
Budget constraints, sales coverage |
b. Customers: Customer needs, benefits sought, trends
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Underlying Needs |
Benefits Sought |
Trends |
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c. Competitors: Primary competitors and their anticipated strategies; how Allround will defend their strategies
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Competition |
Primary Competitor’s Anticipated Strategy |
Allround Defensive Plan |
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Primary competition
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d. Collaborators: Which distribution channels or professionals will you collaborate with and how will you motivate them?
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Motivation |
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e. Context: Environmental factors that could affect your marketing plan
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Economy |
Price Inflation |
Industry Growth |
Market Issues |
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2. CREATE YOUR PRODUCT MARKETING STRATEGY
a. Segmentation: Consumer segments available in PharmaSim
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Illness Segments: |
Segment Opportunities: |
Segment Threats: |
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Demographic Segments: |
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b. Targeting: Segments you will target and why
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c. Positioning: The value proposition you will promote by target market and the implications to the 4P’s
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Target: |
Value Proposition: |
4P Implications: |
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3. CREATE YOUR PRELIMINARY MARKETING PLAN
a. Product: Allround product formulation decision; decision advantages
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Product Formulations |
Advantages |
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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%)
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Target Price Sensitivity |
Decision Driver |
Competitive Price Position |
Profit Margin Goal |
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c. Promotion: Use a push or pull strategy? Message focus; ad agency selection, advertising budget allocation
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Promotion Strategy |
Message |
Agency |
Budget Allocation |
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d. Place: Highest priority distribution channels and what drives self-space allocation in each channel
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Priority Channels |
Self-Space Drivers |
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