Allstar: Marketing Planning And Implementation Essay

3158 words - 13 pages

Executive SummaryThe Allstar Company's Over-The-Counter (OTC) Group stands strong in today's market and is poised for additional growth. Despite a turbulent eight years that saw a fragmentation of the market via multiple market entrants, Allstar's stock price has nearly tripled while extending the product line. Building upon the market leadership status of Allround, Allround+ (a 4 hour cough liquid), and Allright (a 4 hour allergy capsule) were successfully launched and quickly adopted by consumers. Additionally, Allround was reformulated twice, dropping alcohol and cough suppressant respectively, in order to position the line exclusively as a cold remedy.Initially, consumers rebelled against a price hike by Allround original, instigating a three term stock price drop after period one. Only by finally readjusting price and marketing tactics did the stock price, market share, and earnings begin their ascent once again. The launch of Allround+ marked the first attempt at leveraging the well-known Allround brand name with a specialized cough suppressing product. Likewise, Allright complemented the line by bringing a potent allergy medication to market.In total, the simulation provided the team a viable means of planning and implementing a marketing strategy at a brand management level. Being able to adapt to and overcome adversity and respond to market changes were solid learning tools for the team. Likewise, it was rewarding to see a strategy pull through in the long term despite early setbacks.Objectives:The long term product strategy for the Allstar line involves a strategic defense of the Allround Multi-Symptom Liquid with market entries leveraging the brand identity into symptom-specific specialization formulas. With consumers concerned about over-medication and having more and more purchase options, Allround must seek to reposition the Multi-Symptom Liquid as a 'Cold' medicine, while offering a line extension 'Cough' medicine, and finally launch an innovative 'Allergy' medication. Through these actions, Allstar stands to capture additional market share and generate record earnings, thereby paving the way to building stockholder wealth.Overall Marketing Strategy:The value proposition of Allstar's OTC group stands at a crossroads. As a single product provider, "We are the 'all around' cure for your cold, cough and allergy symptoms - the trusted brand that cold, cough, and allergy sufferers turn to most." With the fundamental repositioning of Allround to a cold medicine coupled with the new product launches, the proposition follows suit: "Allstar Brands - offering the trusted products that cold, cough, and allergy sufferers turn to most."Customers:Allstar's OTC remedy group has broken up the market into five distinct consumer groups: young singles, young families, mature families, empty nesters, and retired persons. These demographics suffer from three distinct ailments: the cold, a cough, or allergies. Complicating the marketing environment,...

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