Allround Executive Summary

Executive Summary- Allround is the leading medical product for cold in the OTC market. It is the most frequent purchase with a high conversation ratio, though the retention ratio has been decreasing, along with market share. Some competitors have introduced new products, and Allround is slowly waning having reached maturity. Therefore, the OCM Marketing team has developed a long term Marketing mix strategy until 10th period.
Our team mission is to improve Allround performance. At the end of the 10th period, Allround must quadruple the accumulative net income. To accomplish that mission, our team set the next objectives:

Financial -Increase Sales Revenue
Customer Increase Retention Rate/Customer Satisfaction
Internal Business Process.

While listening to costumers needs, and benchmarking, we decided to reformulate Allround formula by dropping alcohol. Moreover, we observed an opportunity to enter the cough market as it was the second largest market with just two competitors, and one the of most common symptoms reported. This Line extension, Allround Cough is targeted towards retired and empty nesters. At the end of the 10th period, Allround will have another new product, its target market will be evaluated with a market sizing exercise, as we also take into consideration Market surveys, feedback from our customers and Internal

The multi-symptom cold liquid was allowed to run as the market leader. However, it was clear that we needed to get a new product in the market soon to avoid our market share declining. Before deciding on the product, we conducted an estimate of the market to recognize the sizes of potential markets (Table 2 and 3). We divided the market into 2 bases- demographics and symptoms.
We tried to estimate the different demographics through a market sizing exercise. The conclusion of the market sizing exercise was that there were 2 large markets- (i) children and (ii) retired and empty nesters. We saw the potential of growth in these 2 markets. However, the former market was not tested, with only Coldcure in the market. Since population growth was relatively flat at s needs throughout development and research.
The initial focus for advertisement messages line extension and new product would be to focus on entry and benefits, with very low stress on comparison and reminders. This was done to generate unaided demand and make people aware of the benefits of new products. As the product reached towards maturity, messages will be focused more on comparison and repurchase compared to benefits and awareness. A sample plan is explained below for easier understanding: