Post on 19-Dec-2014
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Strategic Recommendations
Mike DevoneySonia Galvez
April 11, 2011
• Track product preferences and sales accruement
• Maintain customer loyalty
• Require online registration
• Available in card or attachable key version
• Discounts on select Abbott products• For every $100 purchase receive 20% off
PromotionsCRM Loyalty Reward Program
• Select publications with high subscription and retention rates
• Broaden target market
• Increase awareness for Nutrition product line• Similac®• Pedialyte®• Ensure®• Ensure Plus®• Glucerna®• Zone®
Advertising
Promotions
Advertising
Promotions
• Direct consumers to site-specific website
• Place on
• Magazines
• Television ads
• Provide information
• New or existing products
• Nutritional content
• Contain nutrition-oriented games on children’s products
Implementation of Q-R Codes
Magazines
Implementation of Q-R Codes
Implementation of Q-R Codes Television
Market Holding
• Maximize profit margin
• Pricing adjusted according to demand
• Enhance company's premium image
• Efficient response to competitors and currency fluctuations
Maintain Pricing Strategy
• Reduce capital expenditures and borrowing• Scale back on discretionary spending
• Negotiate lower prices and rates with suppliers and manufacturers• Beneficial to firm and consumers• Result in lower prices for products
• Reduce costs• Savings will reduce supply chain costs and COGS
• Raise capital through equity shares
Financial Restructuring
Encourage Employee E-blogging
Increase Employee Morale
• Decrease employee turnover
• Create employee comradeship
• Attract prospective employees
• Blog weekly job activities and
public conferences
Source: http://gettyimages.com/
Increase brand awareness
Gain larger market share in nutrition
Obtain broader target market demographic
Age , gender, education, income, ethnicity, lifestyle and geographic location
Consumers price sensitivity ranges from high to low
Alliance with Nike and Avon
Partnerships/Sponsorships
• Recognized brand worldwide in sports industry
• Health-conscious demographic concerned with active lifestyle
• Brands include Cole Haan, Hurley International, Converse Inc. and Umbro
Alliance with Nike
Partnerships/Sponsorships
• Recognized cosmetic company on S&P 500
• Acknowledged for community service and charity
events aimed at improving people’s lives
• Offer trial sizes of products, coupons or discounts
• Reach broader female demographic across U.S.
• Single, married, divorced, widowed women
with or without children
Sponsor the Avon Walk & Run Against Breast Cancer
Alliance with Avon
Partnerships/Sponsorships
Offer Many Different Priced Bundles
Nutrition Product Bundles
• Bundles cheaper than buying individual products
• Creates customer loyalty and brand devotion• Cradle-to-grave brand strategy
• Create word of mouth advertising among family’s and friends
• Include weaker selling products in some bundles to decrease inventory and grow product awareness
Weight Loss Competition (Biggest Loser)
The “Abbott Challenge”
• Customers using only Abbott nutrition products are eligible• Monitored by purchases• Minimum purchase amount required
• Monthly prizes as well as a grand prize for the year• Good publicity and awareness for already flourishing nutrition department
Offer Nutrition and Exercise Plans• Provide a few different nutrition plans Weight Loss - Weight Gain - Get Fit
Live Healthy - Stay Young
• Nutrition Plans include: • Only Abbott products• Meal schedule• Workout regiment
• Push less well known nutrition items
• Receive customer feedback
Nutrition Plans
Current Facebook Page Needs Update
Use Facebook
• Make page more user friendly• Inform public of current news in organization• Tool for customers to communicate with each other and the company• Opportunity to improve image• Ease interaction with customers • Ability to receive feedback on ideas from general public
Continued Growth in Emerging Markets
Global Acquisitions
• Emerging markets expected to grow 3 times rate of developed markets • Acquired Piramal Healthcare Solutions and Solvay in 2010• Became #1 Pharmaceutical company in India• India’s Pharmaceutical market expected to double in next 5years
• Continued pursuit of successful foreign companies• Acquisition’s cheaper than starting up subsidiaries
We would like to thank Abbott Laboratories and Professor Gillespie for their cooperation, help, and feedback. We appreciate all that you have done.
Mike Devoney and Sonia Galvez
Thank You!