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Marketing Plan Pharmasim

Autor:   •  July 19, 2015  •  Essay  •  2,921 Words (12 Pages)  •  1,595 Views

Page 1 of 12

Table of Contents

Executive Summary 3

Situation Assessment 4

Marketing Objective 6

Marketing Goals & Tactics 8

B2B Goals & Tactics 8

B2C Goals & Tactics 9

Financials/Marketing Plan Budget 10

Performance Monitoring/Measurement 12

Sources 14

Executive Summary

An analysis of the OCM group was conducted at the end of period six to determine the marketing strategy moving forward over the next twelve months. Presently, Allround benefits from a strong consumer brand awareness 88.6%, has a strong market share 31.2%, with a high customer satisfaction at 59.8%. On the other hand, our newest product release, Allround+ is gaining in awareness, currently at 54.7%, and holds a market share of 6.1%. Compared to the one competitor for a children’s formula, Coldcure at 11.6%.

The marketing goals for the next twelve months focus on increasing the overall strength of the Allround series with a strong emphasis on Allround+. To do this, business-to-business goals are to improve shelf space for Allround+ by 3%, increase sales to wholesalers by 5%, and increase sales to drug and grocery stores by 3%. Our business-to-consumer goals are to release an alcohol free version Allroundfree, increase Allround+ market share by 3% and increase customer intended purchases by 3%.

The cost of these goals would be approximately $1.1 million dollars. First, we would need to increase whole sale discounts to 45% and co-op advertising to $2.5 million. Then increasing the promotion allowance to grocery and drugstores, while decreasing it to 16-16.5% for mass merchandisers, convenience stores, and wholesalers. A recommended price increase for Allround+ to $5.09 due to price perception being low and inflation at 3.7% should be done. Allround’s price is still considered high and should remain at its current price. These changes are forecasted to increase sales by over $2 million with Allround+ seeing an increase in gross profits to $8.3 million. Using gross profits and various reports, throughout the year, these results should be closely monitored with appropriate changes made as needed.

Situation Assessment’

Allround is an over-the-counter (OTC) cold medication with multiple symptom relief. At the beginning of period 1, it was evident under the OCM group, Allround had benefited from a strong brand awareness with a high perception from the public as being one of the most effective cold medications

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