Marketing and Brand Awareness Essay

Submitted By NinaLiu11
Words: 2679
Pages: 11

AllStar Brands Corporation
Marketing Final Report
Jenny Taing, Jiaqian Liu, Juo-Hsien Yang, Shannon Tang, Vivian Peng

Mission Statement Allstar Brands Corporation is the worldwide leading manufacturer of packaged goods and medications. Since its founding in 1924, the company has acquired and merged with companies in the U.S. and Europe and grown to a size of 12,000 employees. We exist to provide ethical and effective products for customers at fair prices.

Marketing Objectives
1. Increase net income 180% in four years and 360% in eight years
2. Increase cumulative net income 70% in four years and 150% in eight years
3. Increase market share 20% in four years and 45% in eight years
4. Increase brand awareness 5% in four years and 10% in eight years
5. Increase trial percentage 4% in four years and 9% in eight years
6. Increase actual purchases 2% in four years and 4.5% in 8 years
7. Increase repurchase percentage 1% in four years and 2% in eight years
8. Increase brand satisfaction 1.5% in four years and 3% in eight years
Increase consumers’ perceptions of brands’ ability to relieve symptoms 1.5% in four years and 3% in eight years
SWOT Analysis

Allstar
Positive
Negative
Internal
Strengths strong brand market share leader in OTC cold and allergy remedy market large presence in the European market highest brand awareness and conversion ratio strong customer relationships strong B2B relationships with merchants and wholesalers ethical practices
Weakness
heavily focused on Allround lack of diversification new product line extensions are entering a very competitive market
Tendency to run over-capacity
External
Opportunity emerging countries new target markets
Threats
growth in natural remedy trend growing competition in advertising and promotion cheaper medication decreasing leisure time of consumers → less time to shop
Trends
increased usage of technology, web, and social media (lead to increased communication, data analysis, and strengthening of customer relationships) strong growth of mass merchandiser sales and retail sales inflation competitive new products are flooding the market

Target Market

Product:
Allround
Allround+
Type:
4 hour multi symptom liquid
12 hour multi capsule
Consumer Title:
The Casual Buyer : average consumers and loyal customers who need reliable medication when they get sick
The Busy Achiever: customers who need long lasting effects because of busy lifestyles due to work, traveling, and chores
Demographic
Age: 8-60
Class: Middle to Upper
Income: $50,000+
Education: High School and above
Ethnicity: All
Gender: Male and Female
Marital or Family Status: Single and Married

Age: 18-60
Class: Middle to Upper
Income: $50,000+
Education: High School and Higher
Ethnicity: All
Gender: Male and Female
Marital or Family Status: Single and Married
Geographic
U.S.A.: All locations for greater sale opportunities and place convenience for consumers (countryside, suburbs, and city)
International: Europe, Canada, Mexico
U.S.A.: All locations for greater sale opportunities and place convenience for consumers (countryside, suburbs, and city)
International: Europe, Canada, Mexico
Psychographic
Lifestyle: All (dependent, pre-family, family, and late)

Lifestyle: Pre-family (no children households), family (children), and late (older consumers)
Sociographic
Values: Accessibility and convenience
Personal Passions/Needs: An active lifestyle
Values: Reliability

Marketing Activities

In order to reach marketing objective No. 1, increase net income, we recommend the following activity: increase the advertising and promotion budget by 5% every year. We tend to keep the budget relatively constant in order to keep the overall cost under control. Keep the cost constant and under control is the critical element to reach a high profit. The purpose of promotion is to build a brand-awareness for the company. Since Allstar is the biggest and best company in the market, promotion seems less…