PharmaSim Preliminary Marketing Plan (Summer, 2010)
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: Underlying needs, benefits sought, trends/changes?
Underlying Needs Benefits Sought Trends/Changes
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c. Competitors: Primary, anticipated strategy, defensive plan?
Competition Primary Competitor’s Anticipated Strategy Allround
1. Extra 12hr cold capsule Discussing on reducing the dosage time frame. The only competitor that has a 12hr dose time for a cold capsule with only 19% of market share and lacks in the most frequently purchased. Allround market share is the highest of all competitors but the work isn’t done just yet. Allround is taking into consideration promotional allowance with concerns of increasing shelf space in retailer stores and gain retailer support for brand advertisements.
2. Besthelp 4hr cold capsule Considering reformulating 4hr capsule to increase market shares in regards to the cold category. Even though has the highest market share, Allround desire to increase market shares by doing free trial size packages to attract potential consumers to the brand
3. Dryup 4hr multi-symptom cold capsule Focus more on brand awareness, brand trials and increase the conversion ratio. Based on the results consumers mentioned competitors over Dryup. Focusing on the Market survey will also increase Dryup purchasing from consumers. With Dryup having the highest retention ratio, and Allround being low with other competitors can’t help but think that this will be a future problems. This could be indeed the formulation which involves alcohol and Dryup doesn’t. Allround currently thinking of ways to get consumers who tried the product to purchase it over other leading brands.
Secondary Bring out a new product by the name of Coldcure in Period 1 Allround is considering a new formulation without alcohol since consumers expressed it produces drowsiness.
1. Coughcure 4hr cough liquid