Transcript
PharmaSimFinal PresentationTeam OneJa’Kye HolmesJacqueline LangeheineKristi Meier
Highlights of Our Marketing Plan~
❏ Product reformulation
❏ Targeted to young families
❏ Low Cost Product
❏ Raising Brand Awareness
❏ Offering Trial Size Packages
❏ Point of Purchase Displays
Changes in Marketing Plan~
❏ Steadily increased price
❏ Advertising: primary and benefit approach
❏ Large sales force in grocery stores & chain drugstores
Benefits: relieves aches, clears nasal congestion, reduces chest congestion, dries up runny nose, suppresses coughing.
Price: Allround started at $5.29 and Allround+ started at $5.69
Place: Shelf space was 1.5 feet and very easy to find medication
Promotion: Co-op advertising, Point-of-purchase displays, coupons, and trial sizes Product: Allround & Allround+
Insights on the 4Ps
Key success factors in PharmaSim
❏ Group work reformation❏ Product reformulation❏ Line extension ❏ Maintaining high brand awareness
❏ Allround was at 74.8% Brand Awareness❏ Social Media
Allstar’s Reoccurring Issues
❏ Slow stock growth❏ Too many competitors❏ Higher prices than competitors❏ Tight budget❏ Advertisement spending down alerts from
PharmaSim
Performance Objectives ❏ Move closer to industry norms
❏ Maintained a higher price than competitors
❏ Introduce new products❏ Introduced Allround+
but not an allergy alternative
❏ Increase stock price and sales❏ Slow increases with two
upsets resulting in loss. Ended with a higher than industry average
❏ Beneficial incident decisions
& Actual Performance
Incident Decisions: Week 1-9
Period oneSocial Media: Website/Blog & Adwords
Period twoQuality Assurance: Sell the batch to jobber at a loss
Period fiveCustomized promo material to leave behind
Period fourSocial Media: Respond to comments often
Period three
Period sixSponsored RacecarRun an Ad contest
Period seven
Period eight
Period nineIntroduced
Children’s liquid cold medicine
Additional Discount to chains
Product TamperingChoice: 1,2 & 5
Special Promo 1, 3 & 6
Brand Assistant
Assist. Brand Manager
Brand
Brand Manager
What people are saying...
How we left Allstar positioned for the future...
❏ Room to extend product line by introducing an allergy medicine
❏ Allround → cash cow❏ Allround+ → not doing well❏ Negative Budget → $2 million ❏ Room for improvement all
around❏ Stock price at $23.58
Important Take-Aways
❏ Learn from mistakes❏ Buy more reports❏ Use surveys
❏ Don’t get too comfortable❏ Teamwork - Rocky start to smooth sailing❏ Take more risks❏ Marketing research is vital to making decisions
Questions...
top related