At this point the Zicam venture needed money, and a lot of it, to finance the growth stimulated by the USA Today article. Gum Tech provided some of the financing for growth, and some initial financing was provided by venture capital. The real solution to the funding problem, however, came in the fall of 2001, when Gum Tech sold all its gum-making assets to the Wm. Wrigley Jr. Company and then bought out the original entrepreneurs. At this point, Gel Tech became Zicam, LLC, a wholly owned subsidiary of Matrixx Initiatives, Inc. (formerly Gum Tech), and the company’s entire focus was placed on making Zicam a success.
Marketing Strategic Planning Related
- The Lessons to Be Learned from Zicam
- A Firm Commitment to Growth
- Protection from Competition
- Adding Market Research to Manage and Expand the Brand
- A Very Small Staff of People
- As Many Off-Shelf Displays as Possible
- Sales Promotion Used for Targeted Opportunities
- The Advertising Message Was Aimed Directly at the Consumer
- Maintaining Awareness with Advertising
- Creating an Effective Sales and Distribution Strategy
- Sending a Message with Pricing
- Creating Packaging That Communicated the Benefit
- The Creation of Appropriate Product and Brand Names
- Expanding the Product Line
- Formalizing the Marketing Plan Elements
- Proving that Zicam Really Works
- From Idea to Financially Viable Business Venture
- The Birth of a Winning Idea to Reduce Cold Systems
-
Tags
- Accelerating the Buying Process
- Anatomy of a Buying Decision
- Benefits Must Be Perceived by Customers
- Consumer and Retailer Convenience is Critical
- Effectiveness Leads to Repeat Purchases
- Elevating the Buying Process
- How Customers Perceive Value and Risk
- How to Qualify Customer Problems
- How to Quantify PIP Solutions
- How to Sell the Customer's Return
- Positioning and Partnering to Propose High-Margin Value Propositions
- Preemptive Ventures Are Often Winners
- Reverse-Engineering the Buying Process
- Sample Marketing Plans
- Successful Marketing Plans Eliminate the Negatives
- Successful Marketing Plans Often Solve Consumer Problems
- The Cause and Effect of Business Value
- The Sales Process-Redefined
- The Value of Customer Relationships
- What Customers Really Want
- What Customers Think About