New launching strategy of pharmaceutical brand


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New launching strategy of pharmaceutical brand

  1. 1. New Launching Strategy of Pharmaceutical Brand Presented By Masum Chowdhury Manager, SBMD Asiatic Laboratories Ltd.
  2. 2. Objective of this session • At the end of this session, you will be able to understand the strategic and tactical part of launching system.
  3. 3. Successful product launching depends on co- ordination and cross-functional preparation.
  4. 4. The purpose of a Product Launching is to build Sales Drive
  5. 5. • A launching strategy consists of those Marketing decisions, Activities and Product attributes.
  6. 6. Marketing decisions, activities and Product Attributes are necessary to present a product to its target market.
  7. 7. • The Marketing objectives of Product Launching is begin, to generate income from sales of the new product.
  8. 8. Launching Strategy First to Market: First to market with New Products First Follower: A first follower, learns quickly from those companies who enter first Delayed Entrant: A delayed entrant which likes to enter established market
  9. 9. Hultink and Hart hold a view that – A launching strategy describes those marketing decisions that are necessary to position a new product to its target market.
  10. 10. Marketing decisions are usually under the collective terms of – Market Entry Launching Strategy Product Launching (Day Planner) Commercialization and Introduction
  11. 11. The strategic core of the launching is to identify – 1. Customer 2. Product positioning 3. Marketing mix to carry the message.
  12. 12. According to Hultink, the conceptualization of a complete launching strategy consist of - 1. Strategic Decisions 2. Tactical Decisions
  13. 13. Strategic Launching Decisions • Company Strategy • Product Strategy • Market Strategy • Competitive Strategy
  14. 14. Marketing Mix Launching Decisions • Product • Price • Promotion • Distribution
  15. 15. New Product Success Customer Performance Financial Performance Technical Performance
  16. 16. • Strategic Launching Decisions are dependent upon – a) New Product’s Marketing Objectives b) Target Markets c) Competitive Environment d) Production Size of Entry Scale
  17. 17. Strategic Launching Decisions • What to Launch • Where to Launch • When to Launch • Why to Launch
  18. 18. If a company sets a higher success rate as its objective, the company should seek high synergy projects based on current technological and production skills and resources. Company Strategies: By investing in organizational programs to enhance the market orientation, management can influence the efficiency and effectiveness of the launching activities.
  19. 19. Different therapeutic areas represent different types of opportunities for a Pharmaceutical Company. Company Strategies: 1. Some areas are important current profit sources 2. Some of them are attractive (Strong, Sustainable different advantages there) 3. Some looks set to provide long-run growth 4. Relative weakness of the Competition A company needs to balance these different advantages
  20. 20. Product Related Decisions • Product Superiority is the Number One factor for New Product Success.
  21. 21. What is Product Superiority ? Product Superiority means – 1. Unique Benefits for the Customers 2. Product Quality 3. Reduced Customer Cost 4. Product Innovativeness 5. Product Superiority in the eyes of the Customer 6. Solution to a Customer’s Problem
  22. 22. • In Pharmaceutical Industry, a new drug’s clinical profile clearly influences the commercial success. Product Related Decisions • Clinical Profile means – Efficacy, negligible side effects and a convenient dosing mechanism, the new drug enjoys a good position in the competition.
  23. 23. • The contribution of the clinical profile varies significantly with different market conditions and the company’s sales and marketing capabilities. Product Related Decisions • Efficacy, Safety, Side Effects Dosage/Administration and Cost comprises Drug’s Clinical Profile. • A new drug can be differentiated by any or all of these criteria.
  24. 24. Market Decisions First Entry Strategy Parallel or Late Entry Strategy
  25. 25. • Early entry combined with marketing investment and stronger competitive position lead to better New Product Performance. Market Decisions
  26. 26. • Being first to market can be the key commercial success and for a market leader to keep its competitive position. Market Decisions
  27. 27. Market Decisions On the other hand, the first marketer may not have the same advantage because of lacking sufficient clinical data or marketing investment to raise diseases and or product awareness with chemist, physicians or even the patients.
  28. 28. First Time Product Launching Success of First time product launching depends on – Sufficient Clinical Data Marketing investment to raise disease Product awareness with physicians, patients or even chemists.
  29. 29. The later entrants benefited from the awareness generated by the earlier product and physicians confidence in overall class benefits Later Entrant Products
  30. 30. Like other industrial markets, customers in the pharmaceutical industry are not homogeneous. Customer Group
  31. 31. Customer Group Specific customer groups need to be targeted for better information about their need and understanding their behavior which will enable the company to be in a better position for competition.
  32. 32. Finally, Product decisions are made by well understanding of the target market need.
  33. 33. Market need depends on the clinical profile to position the product in the market.
  34. 34. Launching = Market Decision + Company Strategy + Product Promotion Strategy + Right time to enter the right place
  35. 35. A Product Launching is a process that has a lifecycle
  36. 36. Thanks
  37. 37. Part - 2 Pre-launch, Launch and Post Launch KPI