Allstar Brands Over-The-Counter Cold Medicine Group

May 15, 2014
PHARMASIM Simulation
Initial Strategy Report

Allstar Brands Over-The-Counter Cold Medicine Group

May 15, 2014
PHARMASIM Simulation
Initial Strategy Report

PHARMASIM Simulation Initial Strategy Report Presented by Group D

This report is Part 1 of assignment for Marketing MBA 565-MBOL1 to Dr. Stephen Baglione

Table of Content Executive Summary...………………………………………………………………………..2 Project Objectives………………………………………….…………….…………..2 1.0 Vision………………………………………………………………………….…………..3 1.2 Objectives…………………………………………………………………….……….…..3 1.3 Key Success Factors………………………………………………………………….…..3 2.0 Target
Allround’s introduction of new products to meet the evolving needs of consumers. Diversified market saturation is expected to offer global expansion and bolster our brand appeal. 2.0 Target Markets Period 0-1 Consumer groups and physicians seeking a cost-effective but quick solution by way of a multi-symptom medicine. 2.1 Market Definition and Segmentation Period 0-1 Allstar Brands’ sells multi-symptom cold medicine to target retail distribution partners such as mass retailers and wholesalers by value offerings of pricing and promotional allowances. These segments require a manufacturer’s sales force that are market savvy and recognize the need to increase sales conversions through efficient business operations. Market research reported Allround as preferred by consumers for its effectiveness to provide relief. 2.2 Target Market Segment Strategy Period 0-1 Allstar Brands’ strategy focuses on securing its market share with the Allround product, a highly effective over-the-counter (OTC) multi-symptom cold medicine. We strive to introduce new product lines to capture broader market segmentation. Allround intends to communicate with existing and potential customers via social media applications, commercials, consumer awareness surveys, newspapers, and Internet coupon sites. We will also market affordable and quality products