Abbott Strategic Recommendations April 11

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Abbott Strategic Recommendations April 11

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

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