Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison...

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Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike Welch

Transcript of Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison...

Page 1: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Marketing Transition Plan

June 1, 2006

Presented by the Allstar Brands Marketing Team:

Allison DiNoiaSteven Duong

Maureen GivnishChristine Wagner

Mike Welch

Page 2: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Allstar Brands

“The mission of Allstar Brands is to provide our customers with a safe and effective product at a fair price, while respecting our stockholders interest. We do this by providing our employees with creative opportunity to use their talents for research and product development but never losing sight of our goal to improve the quality of

life for our customers.”

Mission Statement

Page 3: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Product Line and Target Market

Allround • Over-the-counter (OTC) liquid cold

remedy• 4-hour dosage• Aimed towards individuals over

the age of 12• Ideal for individuals suffering from

common cold symptoms who do not require prescription medication

• Allstar Brand’s initial product

Allstar Brands

Page 4: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Product Line and Target Market

Allround +• OTC liquid cold remedy• 4-hour dosage• Aimed towards children under the

age of 12• Marketed towards parents and

families of young children• Ideal for loyal consumers of

Allround who have children• Has been on the market for 6

years

Allstar Brands

Page 5: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Product Line and Target Market

Allright• OTC multi-capsule• 12-hour dosage• Ideal for individuals who trust

Allround but do not wish to take medication every four hours

• Marketed to those who prefer capsules over liquid intake

• Has been on the market for 4 years

Allstar Brands

Page 6: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

SWOT Analysis

Strengths

◙ Currently the market share leader in OTC cold remedy market

◙ Diverse product line◙ Steadily increasing stock price

over the past ten years

Allstar Brands

Page 7: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

SWOT Analysis

Weaknesses

Oversaturated market During first 5 years, prices were

not increased according to inflation and demand

Surveys were not purchased during first 6 years

Allstar Brands

Page 8: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

SWOT Analysis

Opportunities

Ability to expand and diversify our product line due to strong client base

Talented product development personnel

Capability to increase production without increased manufacturing costs

Allstar Brands

Page 9: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

SWOT Analysis

Threats

Direct competition within target markets

Generic brand medications with competitive pricing and consumer confidence

Suffering economy which may cause a downturn in the stock market affecting Allstar Brands stock price

Allstar Brands

Page 10: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Marketing Objectives/Activities

1. Reassess advertising budget every year and adjust appropriately

• Adjust according to product life and performance, economy, and current budget

• Increase advertising costs between 15% - 20% for all new products within the first 3 years

Allstar Brands

Page 11: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Marketing Objectives/Activities

2. Assess product line every three years and reformulate based on consumer needs

• Purchase surveys • Increase advertising costs to keep

customers updated on reformulations

Allstar Brands

Page 12: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Marketing Objectives/Activities

3. Increase brand awareness for Allright from 52.5% to 70% in three years

Allstar Brands

Allright Brand Awareness

10152025303540455055

0 1 2 3 4 5 6 7 8 9 10

Period

Per

cen

t (%

)

Page 13: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Marketing Objectives/Activities

4. Increase prices based on national inflation and market inflation rates

• Adjust prices according to customer demand

• Keep products competitive by altering prices to attract new customers and keep loyal ones

Allstar Brands

Page 14: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Marketing Objectives/Activities

5. Maintain a stock price above $80 per share

Allstar Brands

Stock Prices

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0 1 2 3 4 5 6 7 8 9 10

Period

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ck

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Page 15: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Marketing Objectives/Activities

6. Increase overall market share to 27% in the next four years

Allstar Brands

Total Market Share

20%

21%

22%

23%

24%

25%

26%

27%

28%

29%

30%

0 1 2 3 4 5 6 7 8 9 10

Period

Mar

ket

Sh

are

%

Page 16: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Lessons Learned

Price - Adjust pricing for introductory products

Promotion – Develop marketing strategy for allocating resources

Place – Preserve loyalty of the most profitable distribution channel

Product – Reformulate according to customer demands while maintaining brand reliability

Allstar Brands

Page 17: Marketing Transition Plan June 1, 2006 Presented by the Allstar Brands Marketing Team: Allison DiNoia Steven Duong Maureen Givnish Christine Wagner Mike.

Any questions or comments?