Marketing startegy allstar brand compare and contrast essay help Geography coursework help

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (Kotler & Keller, 2012, p. 3) After carefully analyzing the Pharmasim case along with the accessible surveys, charts and results, I have an idea of a workable or acceptable strategy. Allround is very stable.

Some of our strengths are that our “4-hr multi-symptom cold liquid” product treats multiple symptoms, which makes it more attractive to a grander segment; we have the highest rand awareness on the market, and we have one of the highest customer satisfaction ratios. Some our weaknesses are our low doctor recommendation and retention rates. We fortunately have a lot of opportunities, but would rather choose a good strategy, in order to focus energy and resources.

It is important to implement a flexible strategy that can be adapted, latter on , to new perceptions and demands of customers. A marketing strategy is constituted of numerous interdepended components called the marketing mix: Product, Price, Place and Promotion. First, in my strategy, it is essential to work on the product itself. Customers visibly don’t find our product effective at drying up runny noses and relieving chest congestion. Although Allround is a multi-symptom medicine, it will be wise to remove those unrecognized” promoted benefits.

We have to do our best to increase our customers’ satisfaction and we would rather promote benefits that are acknowledged by our clients. Secondly, it is important to build our strategy around potential customers. People have their own exceptional opinions, based on their conviction nd we should consider it. Here, consumers do not appreciate alcohol in OTC medicines and consider it as a negative element. It is our responsibility to decrease or even cancel the alcohol dose in our products.

Furthermore, I will choose to work on the promotion of our product. Allround’s conversion ratio (the percentage of those aware of a brand who have tried it) is 63. 6 percent. However, the retention ratio (the percentage of those who have tried the brand who now purchase it most often) was lower than that for several other brands. Promotions for Allround include distribution f free trial size packages, coupons, and point-of-purchase displays. I believe brand trials are especially useful when the product is unknown or new.

Coupons should be used for new product launch, reformulations or line extensions and should be decreased over time. In this market, Allround has the highest conversion ratio. It will better for us to decrease our coupons budget and work to find way to increase our retention ratio. Moreover, a good positioning strategy will be of a capital importance. It’s the manner in which a product or service is perceived by the customer compared to that offered by a competitor.