Marketing plan

10 Step Marketing Plan

Maria Ellaine Grace K. UyNovember 30, 2011

Metformin

5 Steps for Part 1

Target Market: Diabetes Type 2 Patients

NWE: Improved health through optimal glycemic control

Choice: Branded vs Generic Gap: Positioning of generic medications Market Size: PhP 2.3 Billion. Niche at

Php 1.2 Billion

Primary Target Market RiteMED Metformin is for low income families

afflicted with Type II Diabetes Mellitus

Demographics: > 40 years old, overweight, M>F

Aims to target the behavior of Filipinos (i.e. High prices of medicines leading to inadequate and irrational use of medicines and inadequate self-care)

Unhealthy lifestyle (No exercise, high fat diet, intake of salty food)

Positioning

RiteMED Metformin boasts of “right medicines, priced right” Cheapest metformin in the market (P

3.09/tablet)

The market size is PhP 2.3 Billion. Niche at Php 1.2 Billion.

What do they need (NWE)

Realized by fulfilling needs

Needs, Wants and Expectations

Needs: Achieving good health through optimal glycemic control, reaching self actualization, increasing self esteem

Wants: Quality assurance, effectiveness and affordability

Expectations: Good control of blood sugar and limited side effects

Competitors Direct:

Boie Britton Health Saver Littman Metro Drug Natrapharm NextChem Pharma Nutria Sanofi-Aventis Winthrop Zuellig

Generika The Generics

Pharmacy

Competitors

Indirect Exercise Diet

modifications Health fitness

gyms Non-compliance

Variables: Efficacy Safety Price Packaging Brand popularity

(i.e.Doctor’s prescription)

Availability Ease of use for

compliance

Competitive Position Map

Price vs Brand Popularity

Price/ Positioning Matrix

Not Popular

Popular Quite Popular

Very Popular

High price

Low Price

Unknown Price

Unilab+

RiteMED

Zuellig

NatrapharmBoie

Health Saver

Metro DrugNextChem

Littman

Pharma Nutria

Sanofi-Aventis

Winthrop

Britton

Customer Competition GapDemand- Supply Gap

RiteMed Metformin HCl is the only drug that is… “Rite med, priced rite”

Quality assurance Backed up by Unilab

Affordable Cheapest in the market

* Others drugs assure quality in exchange for a higher cost or provide a low cost alternative with questionable quality and not widely available in the market.

Market Size

3.4M Filipinos with DM 4.9M Filipinos at risk of DM

Consumption of Metformin: 2x/day Market Size = Php 1.2 Billion

5 Steps for Part 2(Marketing Mix and Strategy)

Product: RiteMed Metformin HCl Price: Cheapest in the market (20-

80% cheaper) Promotion: Media, Sales

Representatives Place: Nationwide availability Strategy: Low Cost yet High Quality

Product

Metformin HCl

Product Description

Contents: Metformin HCl Indications: Type 2 diabetes inadequately controlled by diet

and exercise alone. Dosage: Initially 500 mg every 12 hr, dose may be gradualy

increased to a max of 2250 mg daily. Administration: Should be taken with food Contraindications: Renal impairment, CHF requiring

pharmacologic treatment, acute or chronic metabolic acidosis Special Precautions: Elderly, hepatic and renal impairment Adverse Drug Reactions: Anorexia, nausea, vomiting,

diarrhea, lactic acidosis, decreased vit B12 absorption Preparation: In 500 mg and 850 mg tablets

Price

Cheapest drug available in the market

500 mg/ tab = Php 3.09

20-80% cheaper than competitors Average: 43% cheaper

Promotion (Present Strategies)

Advertising: Television, Radio and Billboards

Public Relations: Corporate Social Responsibility

Direct Marketing: Sales Representatives

Health Education Campaigns

Promotion: Ads

Promotion: Video Ads

http://www.youtube.com/watch?v=n1LHtncXXPA&feature=related

Corporate Social Responsibility

Sales Representatives

Health Education Campaigns

Promotion (Personal)

Establish public perception regarding partnership of Unilab and RiteMED through print ads, mass media etc..

+ =QUALITY

andSAVINGS

Promotion (Personal)

Increase awareness of generic drug efficacy through.. Health promotion in local health

centers Mass media Partnership with NGO and LGUs

Promotion (Personal)

Create a Unilab + RiteMED loyalty card

Competitor Promo

Leading Pharmaceuticals with no Anti-DM Products:Leading Pharmaceuticals with no Anti-DM Products:

Pfizer IncWyeth

PhilippinesAstraZenecaBristol-Myers

SquibNovartis

Abott LabRoche

Philippines

Pfizer IncWyeth

PhilippinesAstraZenecaBristol-Myers

SquibNovartis

Abott LabRoche

Philippines

Competitor Promo

Branded medicine competitors have no broadcast media advertisements

Rely only on:-Sales Representatives

-Product Samples-Product Peripherals

-Sponsorship Programs

Competitor Promo: Generic

Place

Available NATIONWIDE

Generic Winning Strategy

Branded + Generic Strategy

Offering quality assurance at the minimum price

+ =QUALITY

andSAVINGS

5 Steps for Part 1

Target Market: Diabetes Type 2 Patients

NWE: Improved health through optimal glycemic control

Choice: Branded vs Generic Gap: Positioning of generic medications Market Size: PhP 2.3 Billion. Niche at

Php 1.2 Billion

5 Steps for Part 2(Marketing Mix and Strategy)

Product: RiteMed Metformin HCl Price: Cheapest in the market (20-

80% cheaper) Promotion: Media, Sales

Representatives Place: Nationwide availability Strategy: Low Cost yet High Quality

(Branded-Generic)

10 Step Marketing Plan

Maria Ellaine Grace K. UyNovember 30, 2011

Metformin