Transcript
10 Step Marketing Plan forGenerics Pharmacy
Group 2
July 1, 2011
genericspharmacyv54.blogspot.com
This 10 Step Marketing Plan is part of the mandatory requirements of Prof. Remigio Joseph De Ungria’s AGSB marketing management class.
The data included in this report are based on publicly available data such as those on internet websites, news, package declarations, public reports.
When appropriate, data are “masked” so as not to create unexpected conflicts.
The reports are posted and linked on slideshare, blogs and facebook so that there is easier sharing among students from different marketing classes.
Disclaimer
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Step 1 to 5
1. Identify your target (PTM)2. What do they need, want and
demand (NWD)3. What are their choices
(competitors)4. Where is the opportunity (Gap)5. How big is the market (3 Cs)
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1. The Generics Pharmacy PTM ages 18-65 years old, B, C, D & E class, no specific status
2. Consumers need, want & demand is a good quality medicine at an affordable price.
3. Can choose Mercury Drug store, South Star Drug Store, Botika ng Bayan & Hospital Pharmacies
4. Offers quality and affordable medicines that competes with the accessibility
5. The market size is 2 billion and 55% is the market share of Generics Medicines
Steps 1 to 5
Consumers Needs Medicine but in Lower Price
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Step 6 to 106. Product7. Price8. Promo9. Place10. Generic winning strategy of
Mix
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6. Affordable generic medicine more available to a greater number of the population at the soonest possible time.
7. TGP medicines are 30% to 80% lower than the branded medicines
8. Uses TV, PRs, events and experiences and word of mouth
9. Location near Mercury Drug stores and rival stores, nationwide
10. Niche Marketing
Steps 6 to 10
Generic medicines has the Same Strength as Branded Medicines but in Lesser Cost
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1. Generics Pharmacy’s Primary Target Market
Demographics:Age range – 18 to 65 years old
Sex – male / femaleSocial class – B, C, D, and E
Marital status – no specific status
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1. Generics Pharmacy’s Primary Target Market
Lifestyle: (those who want to achieve a) Thrifty lifestyle – those who are
budget conscious, who wants to save money and cut their expenses but does not want to miss out quality.
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1. Generics Pharmacy’s Primary Target Market
Behavior:Products sold in Generics Pharmacy are medicines. After several takes or
what is prescribed by the doctor, consumers might be well or might
feel better.
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2. Consumers wants a good quality medicine at affordable price
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Reference: Maslow’s Hierarcy of Needs Marketing Management, 11th ed, Philip Kotler
I need cheaper medicine with the same quality of branded equivalents
I need to buy medicine whenever I’m sick or I need to prevent myself from sickness
I want a good quality medicinebut at a lower price
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2. Consumers need, want & demand is a good quality medicine at an affordable price.Shoppers needs a store that offers good quality
medicine
Shoppers wants a medicine at a lower price
Shopper Demands: Shopper looks for a store that offers good quality
medicine at a lower price.
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3a. The Generics Pharmacy’s competitors
• Direct: Mercury drug, South Star Drug,
BOTIKA NG BAYAN
• Indirect: hospital pharmacies, alternative treatment, clinic
• Variables: quality of the drugs, price, customer perception and accessibility
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The Generic Pharmacy is perceived by consumer as a store that provides good quality with low price
Price/ Perceived Quality Matrix
Average Above Average
Excellent
High Price
Low Price
Perceived Quality vs Price Matrix
as of 2011
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Low prices are said to be the most important factor for the consumers when buying a product
What factors are important to you when selecting a store?
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Most of the Drugstores Positioning is having a Good Quality Medicines
Benefit Positioning vs. Brand Matrix
Functional Benefit
The Generics Pharmacy
South Star Drug Store
Generika drugstores
Mercury Drug Store
Lower price
Good Quality
Convenient location
Free service- dial a doctor/blood pressure/consultation/delivery
Open 24 hours
Value card
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4. The Generics Pharmacy positioning is Niche Market Opportunity
The Generic Pharmacy is the only drugstore that
• offers quality and affordable medicines that competes with the accessibility of Mercury Drug Stores
• Open in franchising at a lower investment, all its outlet except the very first are franchised.
Other Generic Drugstores wants to copy this position.
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• Open branches to the VISMIN region where Mansons, Rose Pharmacy and 360 degrees reigns.
• Open 24 hours to provide for the emergency needs of the consumers
The Generics Pharmacy has more opportunity to…
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5a. Market size using Competitor Data
• $2 Billion Pharmaceutical market in the Philippines
– $700 Million (35%) - Generics Medicines
– $1.3 Billion (65%) - Branded Medicineshttp://growinginclusivemarkets.org/media/cases/Philippines_RiteMed_2008.pdf
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5b. Market size using Government Data
• 6 out of 10 Filipinos are now opting for generic medicines over the more expensive branded counterparts.
http://pinoybusiness.org/2009/09/26/more-filipino-now-buys-generic-drugs-says-doh/
$2 Billion Pharmaceutical market in the Philippines
$1.2 Billion (60%) - Generics Medicines
$800 Million (40%) - Branded Medicines
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• Recent SWS survey said that Filipinos buying generic drugs increased from 47% in 2003 to 54% in 2006 to 55% in 2008
5c. Market size using SWS Survey
2003 SWS Survey
49% use generic medicines
2008 SWS Survey
55% use generic medicines
2006 SWS Survey
54% use generic medicines
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5. Decide on market size in pesos, not in number of people
1. Competitor data= $ 700 Million
2. Customer Usage data = $1.2 Billion
3. SWS Survey = $ 1.1 Billion
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6a. Generics Pharmacy
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6a. Generic Pharmacy vs. competition
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6b. Generic Pharmacy Product Description
• We believe that health is not a privilege, but a basic right of every Filipino.
• Mabisa na, Matipid pa!• The goal is to make
affordable generic medicine more available to a greater number of the population at the soonest possible time.
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7. TGP medicines are 30% to 80% lower than the branded medicines
Neozep 500mg- 4.00 Coldzep 500mg- 3.25
Biogesic 500mg- 4.00 Fevergan500mg- .60Headache
Colds
Price Difference
3.40
Price Difference
.75
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• Higher cost of medicine sold in Phil which is now 4 to 18x higher than compared to other countries.
• 90% of Filipinos who failed to buy the proper amount of medicine
TGP Wants to Serve Filipino First to Address…
4 to 18x
90% of Filipinos
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7. Price Branded
PriceGenerics
PriceSavings
(%)Hypertension Atenolol 50mg 36.00 4.50 88
Clopidogrel 75mg 61.00 23.00 62
Felodipine 5mg 49.00 36.00 62Losartan 50mg 48.00 12.00 75
Metoprolol 50mg 5.00 2.60 48
Cholesterol
Atorvastatin 10mg 34.00 20.50 40
Simvastatin 10mg 22.00 7.00 68
Fever & Pain Mefenamic Acid
500mg 29.00 1.50 95
Paracetamol + Ibuprofen 8.00 2.40 70
Cough
Ambroxol 30mg 14.00 1.50 89
Bromhexine 8mg 10.00 0.06 99
Carbocisteine 500mg 11.00 2.50 77
Branded Price
Generics Price
Savings (%)
Asthma Montelukast 4mg 34.00 17.75 48Salbutamol 2mg 7.00 0.50 93Terbutaline 2.5mg 14.00 1.00 93
Diabetes Glimepiride 2mg 35.00 13.00 63
Metformin 500mg 12.00 1.70 86
Anti-Bacteria
Amoxicillin 500mg 11.00 3.50 68
Cefalexin 500mg 45.00 5.60 88Co-Trimoxazole 800/160mg 37.00 2.10 94
Doxycycline 100mg 132.00 2.00 98
Ofloxacin 400mg 84.00 17.00 80Allergy
Cetirizine 10mg 44.00 8.00 82Loratadine 10mg 20.00 7.00 65
Diarrhea Loperamide 2mg 15.00 1.30 91
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8a. The Generics Pharmacy used Advertising, PR, Events Experiences & Word of Mouth
1
3 5
4
2
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TGP Commercials are about Making the Right Decisions of a Husband/Wife
One of the right decisions they made was by choosing medicines from Generics Pharmacy
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TGP had Several Interviews on Business Talk Shows
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b
TGP provided a fun-filled Family Day and Charity services with the help of the local government and key sponsors, namely
TGP Took Civic Volunteerism by Heart
TGP believes that weaving-in and spreading positive values to other companies makes them more than a competitive
Drug store.
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TGP tap the ff:- Schools– Health Centers – Local Organizations
Massive Campaign on Generic Education in the Community
“People need to be enlightened. Generic medicines are as effective as their branded counterparts because they are made with the same active ingredients, same dosage form and same strength but at a fraction of the cost,” Benjamin I. Liuson, president of The Generics Pharmacy
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TGP is Active in Supporting Government’s Campaign
DOH "Compliance is Wellness" Campaign This is compliance of pharmaceutical companies with CGMP that gives assurance that generic medicines at more affordable prices.
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• Selected branches offer free dental • Free delivery within Metro Manila• Other incentives for loyal
consumers
TGP also offers Free Dental consultations & Free
Delivery
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TGP has “Dial-a-Doc” it is a public service, consumers can simply dial 732-3333, available from Monday to Saturday at 8:30 am to 5:30 pm.
Free Medical Consultation to the Public
TGP’s doctors prescribed generic medicines that they can conveniently buy at the store.
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TGP Promotes through Civic Services and Government’s
Campaign
A Way to Touch the Heart of Many Filipinos.
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8b. Mercury Drug Store, TGP’s One the Biggest Competitor are Active in Promotions Online• Offers monthly
discount coupons on a certain product
• Suki Card which also offers discounts
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Mercury Drug Store’s Suki Card
They provides discounts on a certain period
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Commercials stating where they can buy the product
Product Commercials endorsing Mercury Drug Store
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• Similar to Mercury Drug Store’s Suki Card
South Star Drug Store’s Tipid Kard
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• TGP claimed on one of their interviews that they don’t do much marketing promotions to lower down the cost of the medicines they sell.
Difference of The Generics Pharmacy to other Drugstores
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9. TGP is located near Mercury Drug Stores and
Rival stores• It is available nationwide with • Over the counter• Delivery through phone order• Cash & Credit• Transactions
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10. The Generics Pharmacy Winning Strategy
• Niche Strategy by providing affordable medicines to many Filipinos• Supply and Distribution Leverage by
fast increasing no. of stores per year.
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Summary
1. The Generics Pharmacy PTM ages 18-65 years old, B, C, D & E class, no specific status
2. Consumers need, want & demand is a good quality medicine at an affordable price.
3. Can choose Mercury Drug store, South Star Drug Store, Botika ng Bayan & Hospital Pharmacies
4. Offers quality and affordable medicines that competes with the accessibility
5. The market size is 2 billion and 55% is the market share of Generics Medicines
genericspharmacyv54.blogspot.com
Summary
6. Affordable generic medicine more available to a greater number of the population at the soonest possible time.
7. TGP medicines are 30% to 80% lower than the branded medicines
8. Uses TV, PRs, events and experiences and word of mouth
9. Location near Mercury Drug stores and rival stores, nationwide
10.Niche Marketing
genericspharmacyv54.blogspot.com
10 Step Marketing Plan forGenerics Pharmacy
Group 2
July 1, 2011
genericspharmacyv54.blogspot.com
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