The Allstar brands medicine organization is one of the leading Pharmaceutical companies who manufactures quality over the counter (OTC) cold and allergy medicine at very reasonable market competitive price. Moreover, Allstar Brands' Allround product is one of the highest market share leaders in the over-the-counter (OTC) cold and allergy remedy market. Therefore, the persistent success of the Allstar brand in regards to the profits and sales previously formed, has made it a crucial component of the Allstar’s Pharmaceuticals Division's long-term strategic plan. Specifically, Allstar brand targets young men and women with children experiencing cold and allergy symptoms. A more difficult strategy that also focuses on customers who have purchased the product is to target competitors’ customers (Winer & Dhar, 2016, p. 39). Ordinarily, this segment will prove to have the best value in the long run compared to those customers already set with a specific brand.…
More than 100 years ago Teva Pharmaceuticals opened their doors as a wholesale drug distributor in Jerusalem. Today they have become the world’s leading producer of generic pharmaceuticals. Revenue has grown from $91 million in 1985 to $8.5 billion in 2006. This growth has not been easy and derives from key strategic decisions made along the way in order to amass these huge dollars amounts. Teva’s mission is to play a leading role in the transformation of the healthcare system through the development, manufacture and marketing of generic pharmaceuticals. Teva’s organizational structure is a symbol of their fundamental business strategy, highlighting their global strength and pharmaceutical diversity. This allows them to continue to expand their core generic business across all geographies and leverage their global reach and scientific strength to develop new innovative products and technologies. Teva has picked an industry in which there will always be a need, medicine. However, it is their approach to prescription medicine that will decide the future of Teva.…
Allstar Brands' over-the-counter cold and allergy remedy Allround will continue to be the market leader among OTC cold medicines and continue to increase its stock price over the next decade in order to remain not only competitive, but the premier stock choice among competitors in the OTC cold and allergy remedy market. To further grow the Allround product it is essential to build upon the current strengths of the brand, but also seek additional areas for opportunity and growth. These goals will be accomplished by evaluating competitors entering the OTC cold and allergy remedy market and through careful planning and execution to enhance our current product to meet the desires and needs of consumers.…
While Allround is a leader in brand awareness and brand most frequently purchased, there are direct competitors to Allround. These competitors offer various products from general cold medicine offerings to single-use medicines. It is likely that these companies will continue to develop new offerings in that arena to have greater coverage across different segments. To defend against these moves, the Allround brand must expand its line, and introduce new products to the market. This will provide an additional area for growth and revenue, allow the company to use the strong brand recognition to help launch the new products, and ensure that the product lineup is meeting current consumer trends and demands.…
When LSD&J took over as Brand Managers, Allround was advertised as a cold medicine for all demographics; young singles, young families, mature families, empty nesters, and retired. Allround's MSRP was $5.29 and the Marketing Update report listed a price increase of 2.8% compared to an inflation rate of 3.1%. Mass merchandiser sales showed the strongest growth with an increase of 9.0%. Dryup was introduced by Driscol and had a comparable formulation to Allround. Dryup was the only other multi symptom medicine to offer analgesics which is the ingredient to relieve body aches and reduce fever. Body aches was one of the most frequently reported symptoms in period 0. Allround had been compared to Besthelp, however, since Dryup was new and offered benefits that only Allround had, we changed our advertising campaign to compare Allround to Dryup and increased our advertising budget from $20M to $24M.…
When it comes to strengths, Allstar Brands has an established product and brand name through the success of Allround, which is widely considered the most effective product for multi symptom relief currently available. Even with the current strength a large and loyal customer base, there are still many opportunities for growth, especially as it continues to be the market price leader. The brand possesses a strong support of sales through wholesalers, merchandisers, and detailers. Additionally, Allround has enjoyed one of the highest percentages of brand awareness for many years and continues to have strong brand awareness in a market with solid competition and new players regularly entering the market. This brand awareness is partially attributed to the quality and scope of its advertising. In terms of overall organization, it is in a healthy financial state and positioned for investment in growth opportunities such as line extensions, and/or reformulations of the Allround brand and can put the marketing dollars behind these initiatives in order to maximize consumer impressions.…
As the brand manager for Allround cold medicine, there were many decisions regarding product formulation, strategy, line extensions and product launches over the company’s last 10 periods. The brand was focused on remaining a profitable, mature product family within the cold medicine category, but also maintaining a premium brand image.…
Our group researched and conducted a SWOT analysis on Whole Foods Market. The strength is being one of the top grocers in the U.S. by providing healthy and organic food. The option to purchase high quality natural food is available for consumers who are health conscious. The weakness for Whole Foods is viewed as a luxury shopping destination. Lower and middle class people with limited finances cannot afford to shop there on a regular basis. The opportunity is available to expand within international markets. Whole Foods can explore nonexistent markets internationally with the potential for growth. The threat is competitors will have an interest to gain consumers for their business. Competitors can utilize many avenues such as advertising and commercials to attract customers.…
Pfizer Inc. is a large pharmaceutical company that engages in the discovery of new technologies, the manufacture of prescription and "over the counter" (OTC) medicines, as well as the marketing of such products. It operates in three distinct segments that include Human Health, Consumer Healthcare, and Animal Health. For fiscal year 2004, the company generated approximately $53 billion in revenue that contributed to over $11 billion in net income. (Pfizer, 2004)…
Reviewing the segment, target and position of the company from the case we received, we decided that we would need a few focal points in order to boost our sales. Given the company’s initial competitive position as the brand of over-the-counter relief with the highest brand awareness at 74.1%, largest market share at 40.4%, and highest sales of liquid cold medicine at $355 million we agreed that our main focus should be to simply maintain Allround’s position as the leader with full market coverage including all demographics of adults. Allround’s formula was higher than their…
We believe that our new product, Allround +, won’t take much of the sales revenue from our current product Allround. The products tend to customers in different markets and customers looking for different things in their OTC medicines. We do, however, believe that Allround will help Allround + get sales because of how well known the Allround brand is and how respectable our company is.…
•Burt’s Bees currently offers a large range of natural personal care products including lip, bath, baby, skin care, and etc.…
The popular brand name versus the generic battle is a concern in the prescription medicine industry. The uses of brand name drugs have decreased to 20% of total distribution. The expiration of patents of drugs, led to the decrease in brand name distribution. This affects the health care industry in an intense way. This multi-billion dollar industry is affected and patients and physicians must choose whether the generic brand will suffice. Choices by consumer are affected because the cost…
In the past, the marketing of prescription drugs was mainly targeted at health care professionals so they could consult with patients and make informed decisions about prescribing new medications. However, in the 1990s, pharmaceutical drug companies started using new marketing strategies, and in addition to targeting health care professionals, they turned their attention towards patients. The industry’s new market strategy: advertise prescription drugs directly to consumers. This kind of promoting, technically known as direct-to-consumer advertising (DTCA), soon became the main focus for the U.S. pharmaceutical industry to increase its sales and profits. Soon enough every major drug company was using direct-to-consumer advertising because of the dramatic results it produced and it played a key role in competing with other companies in the industry. In addition, in 1997 the U.S. Food and Drug Administration relaxed restrictions on…
To establish Allstar Brands as a market leader of Over-The-Counter multi-symptom cold/allergy relief, while maintaining the highest level of customer satisfaction through product effectiveness, quality and affordability.…