Introduction
Allstar Brands Corporation is a pharmaceutical company that deals in the production of drugs. This paper will discuss the industry trends that are affecting The Star brand. This paper will also discuss the pricing system of the products and how the products are marketed. This paper will also discuss who is the AllStar brand and its line of business. Market trends are also discussed. This paper will evaluate the strengths and weaknesses of the company and how it can reverse the weaknesses it has to its advantage. The leaders in terms of market share will also be discussed in this paper. This paper has employed the use of charts to state its case.
Discussion
The major industry trend that might potentially affect Allstar brands is the shrinking sales especially that of the cold market (Jorgensen 23). There has been a significant shrink of the market. The current strengths of The Star brand are that it is popular among the consumers and it is well placed compared to the competition. There is little competition in the markets with some products like Alright being a monopoly drug of its kind. The major weakness is that some of the products are not being bought as they used to be some periods back. The company also lacks expertise in marketing.
The product and management decisions that the OCM group needs to make are increase marketing for the products. The management needs to allocate more money in advertising since the department involved in marketing has been operating on a deficit. The management will need to invest in the product called the Star and Question Mark. It is envisaged that this product is what will bring more profits to the company. It will be the main source of revenue in the coming years (Jorgensen 3).
The overall leader in terms of market share is Allround which has a market share of twelve percent. This is concerning a brand awareness of seventy-seven percent. This good performance has made the Allstar brand become the overall market leader in pharmaceuticals with a forty-seven percent market share (Grant 14).
Due to lack of competition the company has been at liberty to determine the prices of the products although that is set to change with the introduction of competition (Jorgensen 12). However, it was noted that when the company increases the prices, the share goes down and vice versa. Allstar brand has a small sales team which is because of being allocated little capital. This has resulted in less penetration as compared to when it would have had a larger workforce. The OCM group is in a healthy financial position and they can make profits.
Conclusion
This paper has discussed the AllStar brand as a major industry player in the pharmaceutical area. In this paper, it is evident that the AllStar brand has an edge in the market compared to the competition. Business strategies which involve the marketing and the introduction of new products have been discussed. This part has focused on what needs to be done to ensure that the company remains a market leader. The pricing policy has also been discussed in this paper and its effects on the market share. The paper has also discussed the sales force of the company.
Works Cited
Grant, Tina. International Directory of Company Histories. New York: OUP, 2000.
Jorgensen, Janice. Encyclopedia of Consumer Brands. New York: James Press, 2008.