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The objectives and goals of Allstar are to look for new opportunities in emerging market with support from healthy and growing cash flow, to introduce new product, to maintain leadership and to maintain long-term profitability and market share in an increasingly competitive and changing environment. Certain measurements are introduced to weight the success and progress of the objectives such as feedbacks from customers and retailers, keeping tracks on our marketing report and purchasing and analyzing the marketing research reports. With increasing budget Allstar has, high market share in cold category and leadership in this market are promised.
Limitations on product line as Allstar does not manufacture any drugs in the area of cough, allergy and nasal category but cold in liquid form have a huge concern from end-user point of view.
As for the customers of Allstar, they have a great need in OTC cold remedy market. Consumers have negative attitude toward alcohol in the drug formulation and Customers think capsule is more convenient than liquid form.
Several options to react to the current situation including reformulation or line extensions in terms of formula, increasing sales forces, gaining more support from retailers to get better shelf space placement and promotional programs, issuing more coupons to motivate repurchases to improve our retention rate and adjusting sales force allocation and promotion strategy according to consumers’ shopping habits.
Promotional allowance, product turnover, sales force support, co-op advertising allowances, discount volume are effective ways to motivate collaborators to help us achieve our goals. Our direct channels are independent drugstores, chain drugstores, grocery stores, convenience stores, mass merchandisers and wholesalers, merchandisers, detailers are indirect channels.
We are facing three options to move about product line extension: 4-hour cold liquid for children, 12-hour multi-symptom capsule and 4 hour cough liquid.
Have negative attitude toward alcohol in the drug formulas
Capsules are more convenient than liquid form
Primary competitors B&B healthcare, Curall Pharma, Discol Corp and Ethik Inc Cold remedy market appears to be fastest growing market
We could react and respond with reformulation, line extension, sales force changes and or adjustments on pricing and promotion strategies
Allround- a cold medicine that cures most conditions, but is mainly targeted at cold sysmptoms Allround+- all the benefits of Allround product but in a twelve hour capsule. Targeted at those who cannot take the dose of liquid every four hours Allright- cold spray, for those who prefer over liquid or capsule form.
Increase market share of current market to a specific % by the end of a specific period Create a new product that is targeted toward children by a specific period Increase stock price to a specific figure by a specific period To increase net income by a certain figure over a specific period To increase brand awareness by a specific percentage
How and who will be responsible for determining strategy for each round of decisions How and who will be responsible for record keeping during the duration of the simulation Keeping track of not only what we did, but also why we did it, and what results we concluded from them How do we envision the written paper, what will it include
Ideas for organizing the power point presentation
One slide for strategies/decisions that we used that were effective and why
Describing what we believed were critical during the simulation
What information or research led you to make each decision
Ideas for organizing the final paper
What do we envision the paper to include
Overall performance metrics
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