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10 Step Marketing Plan for RiteMed Metformin HCl

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10 Step Marketing Plan for RiteMed Metformin HCl …

10 Step Marketing Plan for RiteMed Metformin HCl

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Paredes, Ramos, Tan JM, Tenazas, Uy MEG

Presented during the Plenary Competition of the 6 best product marketing plans

Voted as best presentation: Ritemed Metformin HCl


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  • Strong business portfolio covering a wide range of sectorsStrong capital base for investmentsSlower revenue growth than its local peers in 2008Spend a lot on R&D but due to Lax domestic patent law,lack of enforcement and poor data protection, they are susceptible to imitator drugs and counterfeitProduct portfolio mainly focused on basic medicines
  • OPPORTUNITIESGeneral increase in consumption as sector modernisation improves health awareness and increases access to medicinesStrong presence on the the Filipino OTC (over-the-counter) market to prove very beneficial for the companyAbility to launch generics quickly, due to IP shortcomingsTHREATSGovernment resistance to aligning domestic patent law fully with internationally acceptable standardsThreat from the country’s significant counterfeit drug industryCompetition increasing, both domestically and regionally
  • Thelogo that incorporate “Unilab” for Quality and “RiteMed” for PriceBut not always together
  • Aligned with Marketing Strategy of RiteMedOwnership of Product
  • Inform Target Market of Price & Price Difference
  • Administer questionnaires/survey to doctors and consumers regarding RiteMedMetformin brand knowledge, trust and association (what values they associate RiteMEdmetformin with)
  • Transcript

    • 1. Meet
    • 2. Meet
    • 3. Meet
      .
    • 4.
    • 5.
    • 6.
    • 7.
    • 8.
    • 9.
    • 10.
    • 11.
    • 12.
    • 13.
    • 14.
    • 15.
    • 16.
    • 17.
    • 18.
    • 19.
    • 20.
    • 21.
    • 22.
    • 23. 5Million
    • 24.
    • 25. 1:18
    • 26. 1:18
    • 27. 1:18
    • 28.
    • 29. FIVE
    • 30. FIVE
      OF
    • 31. FIVE
      OF
      YOU.
    • 32.
    • 33. 10 Step Marketing Plan for RiteMed Metformin HCl
      08 January 2011
      Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan
      Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 34. Five Steps
      Part I of II: PTM and Positioning
      1. Target Market: Diabetes Type 2 Patients
      2. NWE:Optimal Glycemic Control
      3. Choice: Branded and/or
      Generic Medications
      4. Gap: Low-Cost High-Quality Drugs
      5. Market Size: PhP2.3 Billion (Total)
      PhP1.5 Billion Niche
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 35. Five Steps
      Part II of II: Marketing Mix & Strategy
      6. Product: Metformin HCl from RiteMed
      7. Price: 20-80% less of Branded Price
      8. Promotion: Redesigning RiteMed Logo
      Branding the Product
      Maximize Price Leadership
      9. Place: Unilab Network, Nationwide
      10. Strategy: Branded Generics
      (Low Cost & High Quality)
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 36. Part 1: Step 1 of 5
      Positioning to the Primary Target Market
    • 37. Primary Target Market
      Type II Diabetes Patients
      Demographics:
      > 40 years old
      Social Class C to E
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 38. Primary Target Market
      Lifestyle:
      Minimal Physical Exercise
      High Consumption of Processed Foods
      High Sugar Diet
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 39. Health-Seeking Behavior
      Primary Target Market
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 40. Health-Seeking Behavior
      Primary Target Market
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 41. Primary Target Market
      Consumption Behavior:
      500 mg Tablet
      Two Tablets per Day
      Regular Hospital Monitoring
      Multiple Medications
      Lifestyle Changes
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 42. Part 1: Step 2 of 5
      Needs Wants and Expectations
      of Target Market
    • 43. Maslow’s Hierarchy of Needs
      Needs, Wants and Expectations
      Realization of Goals
      A Foundation of
      Good Health
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 44. Developmental Stages of Erik Erikson
      Needs, Wants and Expectations
    • 45. Needs, Wants and Expectations
      Developmental Stages of Erik Erikson
      Middle Adulthood (35 to 55)
      Generativityvs Stagnation
      Diseases Produce Fear of Inactivity & Meaninglessness
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 46. Needs, Wants and Expectations
      Wants:
      Quality Assurance:
      Efficacy
      Limited Side Effects
      Low-Cost
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 47. Needs, Wants and Expectations
      Expectations:
      Decrease Blood Sugar Level
      Good Glycemic Control
      No Disease Progression
      Controlled Side Effects
      Good Value!: Low Price
      Fulfillment of Brand Promise
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 48. Part 1: Step 3 of 5
      Direct and Indirect Competitors
    • 49. Competitors
      Direct Competitors (Branded):
      Boie
      Britton
      Health Saver
      Littman
      Metro Drug
      Metrolink Pharm
      Natrapharm
      NextChem
      Pharma Nutria
      Sanofi-Aventis
      Winthrop
      Zuellig
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 50. Competitors
      Direct Competitors (Generic):
      The Generics Pharmacy
      Generika Pharmacy
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 51. Competitors
      Indirect Competitors:
      Exercise
      Diet
      Herbal Preparations
      Insulin
      Secretagogues
      Thiazolidinediones
      Alpha-glucosidaseInhibitors
      Incretin-based Treatments
      Amylin Analogs
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 52. Competitors
      Variables:
      Efficacy:
      Glycemic Reduction
      Glycemic Control
      Reduction of DM Sequelae
      Safety:
      Minimal Side Effects
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 53. Competitors
      Variables:
      Price
      Ease of Treatment Regimen
      Brand Perception
      Name Recall
      Physician Prescription Practice
      Accessibility
      Availability
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 54. Position Map
      Variables:
      Price
      Quality: Regulated (BFAD)
      Quality Perception
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 55. Price-Brand Recall for Quality Matrix
      Competitive Position Map
    • 56. Price-Brand Recall for Quality Matrix
      Competitive Position Map
    • 57. Price-Brand Recall for Quality Matrix
      Competitive Position Map
    • 58. Price-Brand Recall for Quality Matrix
      Competitive Position Map
    • 59. Price-Brand Recall for Quality Matrix
      Competitive Position Map
    • 60. Price-Brand Recall for Quality Matrix
      Competitive Position Map
      Niche: Only High-Quality & Low-Cost Product in the Market
    • 61. Part 1: Step 4 of 5
      Customer-Competition Gap
    • 62. Price-Brand Recall for Quality Matrix
      Competitive Position Map
    • 63. Price-Brand Recall for Quality Matrix
      Competitive Position Map
    • 64. Demand-Supply Gap
      RiteMed Metformin is the only product that:
      Assures Quality of Branded Products
      At Price of Generic Drugs
      Other drugs assure quality at a price of high cost or provide low cost with questionable quality.
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 65. Part 1: Step 5 of 5
      Market Size
    • 66. Market Size (DOH Data & Journals)
      3.4 Million Filipinos with Diabetes
      94% Class C-E
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 67. Oral Anti-Diabetic Consumption 2007
      Market Size (DOH Data & Journals)
    • 68. Market Size (DOH Data & Journals)
      3.4 Million Filipinos with Diabetes
      94% Class C-E
      31% Prescribed Metformin
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 69. Oral Anti-Diabetic Consumption 2007
      Market Size (DOH Data & Journals)
      Social Weather Stations (SWS) survey showed the percentage of Filipinos using generic drugs increased to 55 percent in 2008.
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 70. Market Size (DOH Data & Journals)
      3.4 Million Filipinos with Diabetes
      94% Class C-E
      31% Prescribed Metformin
      55% Use Generic Drugs
      PhP 3.15 Retail Cost of 1 Metformin HCl Tab
      Consumption: 2x/Day
      Market Size: PhP 1.2 Billion
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 71. (Business Monitor International Data)
      Market Size
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 72. Market Size (International Data)
      Philippine Pharmaceutical Industry
      PhP116 Trillion
      Share of Oral Anti-Diabetics
      3% or PhP3.5 Billion
      Share of Metformin
      31% or PhP1.08 Billion
      Market Size: PhP1.08 Billion
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 73. Market Size (Company)
      RiteMed Revenue
      PhP 5.29 Billion
      Share of Oral Anti-Diabetics
      2.59% or PhP 1.5 Billion
      Market Size: PhP1.5 Billion
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 74. Market Size
      Local Data: PhP1.2 Billion
      International Data: PhP1.08 Billion
      Company Data: Php1.5 Billion
      Market Size: PhP1 to 1.5 Billion
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 75. Marketing Mix Strategy
      Part II of II
    • 76. Part 2: Step 6 of 10
      Product
    • 77. Metformin HCl Leaders
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 78. Product Feature
      RiteMed Metformin HCl
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 79. Product Feature
      RiteMed Metformin HCl
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 80. Product Information
      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.
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 81. Product Information
      Administration:
      Administered with After Meals
      Contraindications:
      Renal Impairment, Congestive Heart Failure, Acute or Chronic Metabolic Acidosis.
      Special Precautions:
      Elderly, Hepatic and Renal impairment
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 82. Product Information
      Adverse Drug Reactions:
      Anorexia, nausea, vomiting, diarrhea, lactic acidosis, decreased vit B12 absorption
      Preparation:
      In 500 mg and 850 mg tablets
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 83. Part 2: Step 7 of 10
      Price
    • 84. Price
      20-80% Less Compared to Branded Equivalents
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 85. Price
      20-80% Less Compared to Branded Equivalents
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 86. Price
      CheapestDrug Available in the Market
      43% Cheaper Than Industry Average
      Main market strategy: Price leader
      Cheapest Alternative for Metformin
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 87. Part 2: Step 8 of 10
      Promotion
    • 88.
    • 89.
    • 90. GOALS
      GOAL:
      Increase Generics market share by 10% in 3 years
    • 91. Promotional Strategies
      Advertisements
      Tri-Media
      Public Relations
      Corporate Social Responsibility, Partnership with Public/Private Sector(s)
      Marketing
      Sales Representatives
      Health Education Campaigns
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 92. Advertisements
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 93. Videos/Broadcast Media
      Advertisements
      View From: http://www.youtube.com/watch?v=n1LHtncXXPA&feature=related
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 94. Videos/Broadcast Media
      Advertisements
      View From: http://www.youtube.com/watch?v=n1LHtncXXPA&feature=related
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 95. Commitment to Community & Health Education Campaigns
      Corporate Social Responsibility
      Educational Campaigns
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 96. Human Resources
      Sales Representatives
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 97. PROPOSED MARKETING STRATEGIES
      SPECIFIC ACTION PLAN
    • 98. I of III: Redesigning RiteMed Logo
      Strategy #1: Maximize Brand Recognition
      Specific Objectives:
      To maximize brand recognition between Unilab and RiteMed
      Resources:Marketing department, Graphic artist
      Timeline: 1 month
      UNILAB = QUALITY
      RiteMed = AFFORDABLE PRICE
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 99. Specific Objectives:
      To create immediate identification of RiteMed (Parent Brand) with Metformin
      To maintain ownership of product such that the brand retains generic drug name
      Resources: Marketing department, Graphic artist
      Timeline: 1 month
      II of III: Branding a Product
      Strategy #2: Place a Brand Name to Metfromin Generic Drug
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 100. Specific Objectives: To enable consumer price awareness of RiteMedMetformin
      Resources: Marketing Department, Sales Department
      Timeline: 1 month
      III of III: Maximize Price Leadership
      Strategy #3: Maximize Position as Price Leader
      P3.09
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 101. Monitoring
      Survey (target market)
      Brand knowledge
      Brand trust
      Brand association
      Sales trend
      Market share
      Competitor marketing strategies
    • 102. Competitors
      Direct Competitors (Branded) with No Broadcast Media:
      Boie
      Britton
      Health Saver
      Littman
      Metro Drug
      Metrolink Pharm
      Natrapharm
      NextChem
      Pharma Nutria
      Sanofi-Aventis
      Winthrop
      Zuellig
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 103. Competitors
      Direct Competitors (Branded) with No Broadcast Media But Rely on:
      Medical Sales Representatives
      Giving free Product Samples
      Product Peripherals
      Sponsorship Programs (Events, purchases)
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 104. Competitors
      Leading Pharmaceuticals with no Metformin Products:
      Pfizer Inc.
      Wyeth Philippines
      AstraZeneca
      Bristol-Myers Squib
      Novartis
      Abott Lab
      Roche Philippines
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan *Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 105. Videos/Broadcast Media
      Competitors (Generic)
      View From: http://www.youtube.com/watch?v=Z2ocsYU2i-s&feature=player_embedded
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 106. Videos/Broadcast Media
      Competitors (Generic)
      View From: http://www.youtube.com/watch?v=OGufEVhhf3Y&feature=related
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 107. Part 2: Step 9 of 10
      Place
    • 108. Available in Leading Pharmacies Nationwide
      Place
      Uses Logistical Leverage of Unilab
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 109. Part 2: Step 10 of 10
      Generic Winning Strategy
    • 110. Generic Winning Strategy
      Price & Quality Leadership
      Branded-Generics Strategy!
      RiteMed’s Generic Strategy is to Dominate Low-Cost Generics Market by Providing High Quality Assurance of its Parent Brand, Unilab.
      Maximizes Research & Logistical Capacity
      Maximizes Unilab Brand
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 111. Generic Winning Strategy
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 112. Summary
      Steps 1 to 10
    • 113. Five Steps
      Part I of II: PTM and Positioning
      1. Target Market: Diabetes Type 2 Patients
      2. NWE:Optimal Glycemic Control
      3. Choice: Branded and/or
      Generic Medications
      4. Gap: Low-Cost High-Quality Drugs
      5. Market Size: PhP2.3 Billion (Total)
      PhP1.5 Billion Niche
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 114. Five Steps
      Part II of II: Marketing Mix & Strategy
      6. Product: Metformin HCl from RiteMed
      7. Price: 20-80% less of Branded Price
      8. Promotion: Redesigning RiteMed Logo
      Branding the Product
      Maximize Price Leadership
      9. Place: Unilab Network, Nationwide
      10. Strategy: Branded Generics
      (Low Cost & High Quality)
      10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan * Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 115.
    • 116. Meet
    • 117. Meet
    • 118. Meet
      .
    • 119.
    • 120.
    • 121.
    • 122.
    • 123.
    • 124.
    • 125.
    • 126.
    • 127.
    • 128.
    • 129.
    • 130.
    • 131.
    • 132.
    • 133.
    • 134.
    • 135.
    • 136.
    • 137.
    • 138.
    • 139. HAVE
    • 140.
    • 141. FROM
    • 142.
    • 143.
    • 144.
    • 145.
    • 146.
    • 147.
    • 148.
    • 149. 10 Step Marketing Plan for RiteMed Metformin HCl
      08 January 2011
      Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan
      Mikhail G. Tenazas * Maria Ellaine Grace K. Uy
    • 150. Marketing Mix Strategy
      Part II of II
    • 151. Branded Generics
      P
      atent
    • 152. Branded Generics
      P
      atent
      lan
    • 153. Plan
      Average
      unit cost
      of output
      Underutilization
      Overutilization
      Best Operating
      Level
      Volume
    • 154. Plan
      Yesterday
      Cost or
      price
      per unit
      Today
      Tomorrow
      Total accumulated production of units
    • 155. Branded Generics
      P
      atent
      lan
      rice
    • 156. All information obtained and presented herein are plainly for academic purposes. Please refrain from citing data without consent from authors.
      08 January 2011
      Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan
      Mikhail G. Tenazas * Maria Ellaine Grace K. Uy