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10 step marketing plan

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10 step marketing plan by Conrad Josef Q. Villafuerte

10 step marketing plan by Conrad Josef Q. Villafuerte

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  • 8.62 centrum4.76 clusivol4.95 enervon
  • 8.62 centrum4.76 clusivol4.95 enervon
  • Being there for them during occasions or ordinary days.
  • Being there for them during occasions or ordinary days.
  • Being there for them during occasions or ordinary days.
  • Being there for them during occasions or ordinary days.
  • Edge & Groves, The Ethics of Health Care, 3rd Ed., 2006

10 step marketing plan 10 step marketing plan Presentation Transcript

  • 10 Step Marketing PlanRestor-F Vitamins
    CJ Villafuerte
    January 2011
    CJQV
    ASM+PH 2012
  • Outline
    Primary Target Market
    Needs, Wants, Demands
    Competition
    Gap, Position, Opportunity
    Market Size
    Product
    Promotion
    Price
    Place
    Generic Winning Strategy
    CJQV
    ASM+PH 2012
  • Primary Target Market
    Restor-F PTM are “energy seeking teens and adults”
    Who want to be:
    Active
    Be free of disease
    Improved Function
    Can choose Centrum, Clusivol, Enervon, etc.
    Gap is all other brands focus on other vitamin combinations and savings
    The market size is P2 Billion, Restor-F niche is P10 million
    CJQV
    ASM+PH 2012
  • Marketing Mix & Strategy
    Restor-F softgel capsule
    Is 300% premium
    Uses the internet
    Is distributed nationwide
    Uses a differentiation approach to win
  • Positioning to the Primary Target Market
    Part 1:
    Steps 1 to 5
  • Restor-F Primary Target Market are “energy-seeking adults”
    Demographics (teens & adults, 14-59, M/F, social class ABC, single/married)
    Lifestyle (studying, just starting work, working, retired)
    Behavior (one capsule once a day)
    CJQV
    ASM+PH 2012
  • Influencing Buyer Behavior
    CJQV
    ASM+PH 2012
    I will be able to see
    my full potential,
    if I am healthy.
    I have a
    responsibility
    to be healthy
  • My PTM’s Needs, Wants, Demands
    CJQV
    ASM+PH 2012
    Teens & Adults need to fulfill their responsibilities, self-actualization
    Teens & Adults choose Restor-F over other vitamins because of price, product mix and FDA approval
    Teens & Adults expect more energy, restored performance despite declining mental and physical function, including less disease and stress
  • Restor-F has many formidable competitors
    Direct: Centrum, Stresstabs, Clusivol, Enervon, Pharmaton, Polynerv etc.
    Indirect: Fad or Healthy Diets/Lifestyles, Health Drink
    Variables: Age, Price, Packaging, availability, occasion of use, brand, Product mix
    CJQV
    ASM+PH 2012
  • Restor-F: Multivitamin High Priced-Product with Unique Constituents
    CJQV
    ASM+PH 2012
    Clusivol
    Enervon
    Centrum
    Restor-F
  • Restor-F unique positioning is shown in this competitive map
    CJQV
    ASM+PH 2012
  • Restor-F Positions in a Differentiation Market Opportunity
    Restor-F is the only multivitamin with comprehensive combination of:
    Taurine Chlorella, Ginseng, Rutin, Folic Acid and Lecithin
    For adults
    Who want more vigor/stamina, restored mental and physical function and less disease/stress
    No brand has a similar product combination
    Others focus on low prices and other combinations
    CJQV
    ASM+PH 2012
  • Market Size: Competitor Data
    Unilabclaims 20% market share of total Philippine pharmaceutical industry
    Annual Enervon Sales of
    CJQV
    ASM+PH 2012
  • Market Size: Company Data
    Folares Pharmaceuticals, Inc Data: Restor-F sales at P10M
    Market Share Data: None
    CJQV
    ASM+PH 2012
  • Market Size: Customer Data
    Vitamin Usage:
    61 Million Population 14-64 Age Group take 1 Multivitamin each day at P5.00
    61 x 1 x 5 = $305 Million (at the minimum)
    CJQV
    ASM+PH 2012
  • Conclude that vitamin market is …
    Competitor data: ---
    Company data: None
    Usage data: <$305 Million
    Actual Data: $2 Billion
    CJQV
    ASM+PH 2012
  • The Marketing Mix Strategy
    Part 2:
    Steps 6 to 10
  • The Vitamin Industry is dominated by several brands
    CJQV
    ASM+PH 2012
  • Product Description
    Restor-F is a brownish softgel capsule that contains taurine, Chlorella pyrenoidosapowd, Korean Panax ginseng, rutin, lecithin, folic acid, retinylpalmitate (A), thiamine nitrate (B1), riboflavin (B2), pyridoxine HCl (B6), nicotinamide (B3), cyanocobalamin (B12), ascorbic acid (C), cholecalciferol (D3), dl-α-tocopheryl acetate (E), calcium, iron, zinc. It also contains the following excipients: Vegetable oil, beeswax and soya oil.
    It is sold in 2 packages (30’s and 100’s)
    CJQV
    ASM+PH 2012
  • Price – Close-up is % premium priced on Generic Brands
    Pack of 30 = P516.09
    Pack of 100 = P1720.29
    Restor-F is priced at 300% higher than leading brands with aim of maximizing profits through its differentiation
    CJQV
    ASM+PH 2012
  • Promotion
    CJQV
    ASM+PH 2012
  • Promotion
    CJQV
    ASM+PH 2012
  • Competitor Promotion
    CJQV
    ASM+PH 2012
  • Competitor Promotion
    CJQV
    ASM+PH 2012
  • Competitor Promotion
    CJQV
    ASM+PH 2012
  • Distributed Nation-Wide using Folares Pharmaceuticals, Inc.
    Drug-stores (Mercury)
    Nation-Wide
    Pick-up by Customers
    Cash and credit transaction
    CJQV
    ASM+PH 2012
  • Generic Winning Strategy
    Low Cost Producer
    Supply and Distribution Leverage
    Differentiation
    Niche
    CJQV
    ASM+PH 2012
  • Restor-F is a Unique
    Restor-F’s main strategy is to distinguish itself apart from the other adult vitamin products in the market
    It benefits from uniqueness of the vitamin combination it offers
    Has an excellent, reasonably-priced product distributed nation-wide
    CJQV
    ASM+PH 2012
  • Summary
  • Primary Target Market
    Restor-F PTM are “energy seeking teens and adults”
    Who want to be:
    Active
    Be free of disease
    Improved Function
    Can choose Centrum, Clusivol, Enervon, etc.
    Gap is all other brands focus on other vitamin combinations and savings
    The market size is $2 Billion, Restor-F niche is $10 million
    CJQV
    ASM+PH 2012
  • Marketing Mix & Strategy
    Restor-F softgel capsule
    Is 300% premium
    Uses the internet
    Is distributed nationwide
    Uses a differentiation approach to win
  • References
    Note: Data of the just described products came from public internet websites and public sources
    http://folarespharma.com/index.htm
    http://www.unilab.com.ph/
    http://centrum.com/
    http://mims.com
  • 10 Step Marketing PlanVitamin Industry
    CJ Villafuerte
    January 2011
    CJQV
    ASM+PH 2012