Situation Analysis: 5C’s
One environment factor that provides opportunities for Allstar Allround brand is recommendations from doctors and physicians. These recommendations can increase this company’s market share, net income, and brand awareness. Allround brand offers 4- Hr. Multi Liquid medication. One recommendation from doctors and physicians can turn into multiple recommendations which the company can profit from it. The company can profit from these recommendations because customers will go purchase our product. Also, they can tell their friends and their friends can tell someone else due to word of mouth. In addition, it is effective in brand awareness due to the customers knowing how our product looks and works. In contrast, some environmental …show more content…
One way our company can evaluate other competitors in the game is purchasing marketing reports. For example, in Pharma Sim, our team purchased the sales force, advertising, and purchase surveys. These particular reports gave us insight on other competitors. While going through these reports we analyzed other team’s cooperative results and used the graphing charts to get a better understanding of the information. These reports have been very helpful in making effective decisions. Allround biggest competitor is Ethik Incorporated. They have a total of three brands on the market. Ethik is our primary competitor because the company sales is 396 million. The company can expect that Ethik Incorporated will change their brand formulations since they have three different brands on the market. The best decisions for Allround to defend against this move is to add another line extension and change the brand formulations for our 4- Hr. Multi- Symptom Cold …show more content…
The target markets are young singles, young families, mature families, empty nesters, and retired families. We started off with just targeting everyone in the target market with just cold medicine. Even though cough is leading in manufactured sales, we may have to add allergy and cough to our product to stretch across the board more. We may still keep the same target market we have for the families, but later down the road we’ll have to focus more on the families that purchase the product the most. Since we may add more segments, we may increase the price by a hair. We will spend a little more on advertising to boost our awareness. We will also check our competitor’s positioning to see what would be the best positioning strategy for our target market. Implementing a better coupon discounts to our customers should also not only benefit our product awareness, but sale as
One environment factor that provides opportunities for Allstar Allround brand is recommendations from doctors and physicians. These recommendations can increase this company’s market share, net income, and brand awareness. Allround brand offers 4- Hr. Multi Liquid medication. One recommendation from doctors and physicians can turn into multiple recommendations which the company can profit from it. The company can profit from these recommendations because customers will go purchase our product. Also, they can tell their friends and their friends can tell someone else due to word of mouth. In addition, it is effective in brand awareness due to the customers knowing how our product looks and works. In contrast, some environmental …show more content…
One way our company can evaluate other competitors in the game is purchasing marketing reports. For example, in Pharma Sim, our team purchased the sales force, advertising, and purchase surveys. These particular reports gave us insight on other competitors. While going through these reports we analyzed other team’s cooperative results and used the graphing charts to get a better understanding of the information. These reports have been very helpful in making effective decisions. Allround biggest competitor is Ethik Incorporated. They have a total of three brands on the market. Ethik is our primary competitor because the company sales is 396 million. The company can expect that Ethik Incorporated will change their brand formulations since they have three different brands on the market. The best decisions for Allround to defend against this move is to add another line extension and change the brand formulations for our 4- Hr. Multi- Symptom Cold …show more content…
The target markets are young singles, young families, mature families, empty nesters, and retired families. We started off with just targeting everyone in the target market with just cold medicine. Even though cough is leading in manufactured sales, we may have to add allergy and cough to our product to stretch across the board more. We may still keep the same target market we have for the families, but later down the road we’ll have to focus more on the families that purchase the product the most. Since we may add more segments, we may increase the price by a hair. We will spend a little more on advertising to boost our awareness. We will also check our competitor’s positioning to see what would be the best positioning strategy for our target market. Implementing a better coupon discounts to our customers should also not only benefit our product awareness, but sale as