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Marketing mix Analysis

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Marketing mix Analysis Incepta Phar. Ltd.

Marketing mix Analysis Incepta Phar. Ltd.

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  • 1. Group G• Group Member ID• Kazi Tanvirul Islam B040006• S.M. Zayed Siraj B040016• Jannatul Ferdows B040017• Md. Tajmilur Rahman B040036
  • 2. Presentation Topics:- Marketing Mixanalysis of Incepta Pharmaceuticals Ltd.
  • 3. Introduction• Establishment• Incepta Pharmaceuticals Ltd. is a leading pharmaceutical company in Bangladesh established in the year 1999. The company has a very big manufacturing facility located at Savar, 35 kilometer away from the center of the capital city Dhaka.• What types of Company?• Incepta Pharmaceuticals Ltd. is a leading pharmaceutical company in Bangladesh
  • 4. Organization structure Organogram Of Incepta Pharmaceuticals Ltd.
  • 5. Contribution to the economy• In Bangladesh the pharmaceutical sector is one of the most developed hi-tech sectors which is contributing in the country’s economy.• Exporting medicines to global market including European market. This sector is also providing 97% of the total medicine requirement of the local market. Maintain balance of trade between import & export.• Over $250 million invested in the sector, has helped modernize and create new facilities. Brief History Incepta Pharmaceuticals Ltd. is now the 2nd largest company of the country and recognized as the fastest growing of the top five manufacturing company in the country. Established in the year 1999. Incepta was able to anticipate the need of the market and provide the right product at the right time. Incepta began its operation with a handful of highly skilled and dedicated professionals guided by an able leadership.
  • 6. CompetitorsThere are many competitors:-1. SQUARE PHARMACEUTICALS LTD.2. BEXIMCO PHARMACEUTICALS3. OPSONIN PHARMA LTD.4. ESKAYEF5. RENATA PHARMACEUTICALS6. ACME PHARMACEUTICALS7. ACI PHARMACEUTICALS8. ARISTOPHARMA9. DRUG INTERNATIONAL10. SANOFI AVENTIS
  • 7. Market shareUp to May 2012, it has already launched 334 generics with a total of 639 products.
  • 8. Nature of market• Under pure competition:- Also sometimes referred to as perfect competition, pure competition is a situation in which the market for a product is populated with so many consumers and producers that no one entity has the ability to influence the price of the product sufficiently to cause a fluctuation.
  • 9. Product:-• In general, the product is defined as a "thing produced by labor or effort, or a product is anything that can be offered to a market that might satisfy a want or need. Product mixA range of associated products that yields larger salesrevenue when marketed together than if they weremarketed individually or in isolation from others. InceptaPharmaceuticals Ltd. Has 639 types of product in theirproduct mix.
  • 10. Product line A range of associated products that yields larger sales revenue when marketed together than if they were marketed individually or in isolation from others.• A. Sterile Products.• B. Non Sterile Products.• C. Biological Products.• D. Cephalosporins (Dedicated manufacturing facility).
  • 11. Domestic • 10 present• Raw materials (main) Import • 90 presentMajor raw materials required for productionTo produce different kinds of finished products, the local companies need morethan 750 different types of raw materials, 90% of which is imported. 40 differenttypes of raw materials produced locally at smaller quantity and the rest of ActiveIngredients are imported. Main sources of raw materials include Germany,Switzerland, Belgium, France, Italy, Denmark, Netherlands, UK, USA, UAE,China, Taiwan, South Korea, Japan, Spain, and India. Recently, 4-5 API projectsare under implementation and once they are in commercial production, asignificant percentage of raw material requirements will be mitigated from localsources.
  • 12. Marketing management concept• Holistic marketing concept is based on development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies. Four main components of holistic marketing are: •Relationship marketing •Integrated marketing •Internal marketing •Socially responsible marketing.
  • 13. Product design and style• Although product design varies from company to company, but the leading local and foreign companies have certain standard on product designing that is acceptable to world market. They use quality design of packs, strips, bottle cover etc. Brand name• Incepta hold a very powerful brand name in our country. In present pharmaceutical industry incepta is in number two position.20 July 2011• Incepta receives UK Medicines and Healthcare products Regulatory Agency (MHRA) GMP certification
  • 14. Service• Services are there at retailers’ level. Expired unsold products are refunded at a certain percentage. Loss and damages are also compensated depending on the quantity of medicine. Sales 5 yearsYear 2009 2008 2007 2006 2005Domestic sales ( Thousand USD) 48.32 52.14 41.14 36.76 30Export sales ( Thousand USD) 3020 3350 2428 450 -
  • 15. Production utilization• Zirabo, Savar about 35 kilometers from the capital city and is spread over the land of about 151,000 square feet area (approx.14,000 square meter) with a build-up total floor area of about 231,400 square feet (approx.21,500 square meters) with state of the art manufacturing facilities. The plant manufactures tablets, capsules, oral liquids and Injectables, nasal sprays, creams, ointments, ophthalmic products, sachets, powder for oral suspensions, spray dried specialized dosage forms etc. Cephalosporin group of products are manufactured in a completely separate building.
  • 16. Piece:-Pricing approach• The prices of products under controlled category are determined by the government. The manufacturing companies are allowed to propose the prices of the products that are under decontrolled category and the approvals of these proposed prices are given by the government. Since the local government strictly controls price of pharmaceutical products, there is a very negligible price difference. The maximum retail-selling price of a product shall be just double the price of API plus value added tax at 15% VAT. But, the price of raw materials is competitive which is fixed based on international market situation. As Pharmaceutical manufacturers have to depend on imported raw materials, increase in prices of raw materials internationally impact directly to the cost of production. Pricing strategy for new product Since the government strictly controls price of pharmaceutical products, a new company should adopt ‘shadow or indirect’ pricing method.
  • 17. PlaceChannel design• Incepta has its own large distribution network having 18 depots all over the country. They make the products available in every single drug store of the country. The depots are located in Dhaka, Chittagong, Rajshahi, Khulna, Sylhet, Barisal, Comilla, Noakhali, Mymensingh, Magura, Bogra, Narayangonj, Rangpur, Dinajpur, Tangail, Jessor, Moulovibazar and Coxs Bazar.• Incepta market their p roducts in 37 countries of the world thourgh our distribution partners.
  • 18. Channel strategy• Incepta has a large distribution network that covers the whole country and make products available in every single drug store. The Distribution centers are located in 18 major cities across Bangladesh. Products are supplied on a daily basis to all the major cities and towns of the country. Remote areas are also supplied rhythmically to ensure timely availability of products to all customers.
  • 19. Inventory system• Keeping track of inventory is vitally important for any successful retail enterprise. Inventory systems overselling products and then having to inform customers that their items are either unavailable or must be backordered. let you know when it is time to stock up on items that are running low and can also prevent you from Every drug manufacturing company has their own inventory system. Inventory mainly incurred in three situations:- •Raw material inventory. •Work in process inventory. •Finish goods inventory. TransportationEvery drug manufacturing company has their own transportation vehicles as liketrucks, cargo trucks etc.
  • 20. Ware housing• The warehouse of Incepta is an enclosed building and protects the stored goods from environmental influences. They are secured against fire by the design of the buildings and technical facilities. They are secured against fire by the design of the buildings and technical facilities.• There warehouse is equipped with four different storage conditions; a) 2oC – 8oC, b) 8oC – 15oC, c) 15oC -25oC, and d) ambient condition. There is specific quarantine and sampling areas with dedicated separate storage location for cephalosporin, and steroids. Temperature sensing is equipped with remote sensor technology.
  • 21. PromotionTool• In Bangladesh, promotion of pharmaceutical products in the mass media is strictly prohibited. Market and sales promotional activities are carried out by field level sales force. Every company has its own sales at local and international level. Required transport facilities are given to the sales force in the field to visit doctors, health care centers, hospitals and private practitioners. Trade promotion activities• Recently, as mentioned earlier, the Ministry of Commerce and Export Promotion Bureau in collaboration with the sector association of pharmaceutical companies i.e. BAPI have taken special initiative or program for export promotion of pharmaceutical sector. Activities like organizing trade missions and group visits to international trade fairs, displaying pharmaceutical products.• Asia Pharma expo, and some other events, studies, seminars, training are helping promoting trade.
  • 22. Conclusions• Bangladesh is one of the poorest countries in the world where about 80%4 of the population are living below poverty level. So, ‘Malnutrition and Poor Health Conditions’ exits. The population growth is still there and gradual increase in health consciousness among mass people. All these factors have positive impact on the demand of the pharmaceutical products. As a result, the demand for imported raw materials will also be increased.• The pharmaceuticals sector is the second largest sector after agriculture that contributes to the revenue generation of the Bangladesh Government. The sector has growth potentials both in local and export market. There is an increasing trend in the export of pharmaceuticals that indicates very good future prospects for the country.

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