you don't need to specify the actual executable you're running in the command line section. You've already pointed to it in the first screen (package information), so LANDesk knows the .exe. The only thing that needs to go in the command line section is the parameter (/q).
What you're doing is causing LANDesk to send the following command (or something similar) vcredist.exe /vcredist.exe/q
Hope this helps!
Thanks a million. Issued resolved.