Meet<br />
Meet<br />
Meet<br />.<br />
5Million<br />
1:18<br />
1:18<br />
1:18<br />
FIVE<br />
FIVE<br />OF<br />
FIVE<br />OF<br />YOU.<br />
10 Step Marketing Plan for RiteMed Metformin HCl<br />08 January 2011<br />Justine Andrea C. Paredes * Marie Isobelle E. R...
Five Steps<br />Part I of II: PTM and Positioning<br />1. Target Market: Diabetes Type 2 Patients<br />2. NWE:Optimal Glyc...
Five Steps<br />Part II of II: Marketing Mix & Strategy<br />6. Product: Metformin HCl from RiteMed<br />7. Price: 20-80% ...
Part 1: Step 1 of 5<br />Positioning to the Primary Target Market<br />
Primary Target Market <br />Type II Diabetes Patients<br />Demographics:<br /> > 40 years old<br /> Social Class C to E<br...
Primary Target Market <br />Lifestyle: <br /> Minimal Physical Exercise<br /> High Consumption of Processed Foods <br /> H...
Health-Seeking Behavior<br />Primary Target Market <br />10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. P...
Health-Seeking Behavior<br />Primary Target Market <br />10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. P...
Primary Target Market <br />Consumption Behavior: <br /> 500 mg Tablet<br />Two Tablets per Day<br /> Regular Hospital Mon...
Part 1: Step 2 of 5<br />Needs Wants and Expectations <br />of Target Market<br />
Maslow’s Hierarchy of Needs<br />Needs, Wants and Expectations<br />Realization of Goals<br />A Foundation of<br />Good He...
Developmental Stages of Erik Erikson<br />Needs, Wants and Expectations<br />
Needs, Wants and Expectations<br />Developmental Stages of Erik Erikson<br />Middle Adulthood (35 to 55)<br />Generativity...
Needs, Wants and Expectations<br />Wants:<br /> Quality Assurance:<br />Efficacy<br /> Limited Side Effects<br />Low-Cost<...
Needs, Wants and Expectations<br />Expectations:<br /> Decrease Blood Sugar Level<br /> Good Glycemic Control<br /> No Dis...
Part 1: Step 3 of 5<br />Direct and Indirect Competitors<br />
Competitors<br />Direct Competitors (Branded):<br />Boie<br /> Britton<br /> Health Saver<br /> Littman<br /> Metro Drug<b...
Competitors<br />Direct Competitors (Generic):<br />The Generics Pharmacy<br />Generika Pharmacy<br />10 Step Marketing Pl...
Competitors<br />Indirect Competitors:<br />Exercise<br />Diet<br />Herbal Preparations<br />Insulin<br />Secretagogues<br...
Competitors<br />Variables:<br />Efficacy:<br /> Glycemic Reduction<br /> Glycemic Control<br /> Reduction of DM Sequelae<...
Competitors<br />Variables:<br /> Price<br /> Ease of Treatment Regimen<br /> Brand Perception<br /> Name Recall<br /> Phy...
Position Map<br />Variables:<br /> Price<br />Quality: Regulated (BFAD)<br /> Quality Perception<br />10 Step Marketing Pl...
Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />Niche: Only High-Quality & Low-Cost Product in th...
Part 1: Step 4 of 5<br />Customer-Competition Gap<br />
Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
Demand-Supply Gap<br />RiteMed Metformin is the only product that:<br />Assures Quality of Branded Products<br />At Price ...
Part 1: Step 5 of 5<br />Market Size<br />
Market Size (DOH Data & Journals)<br />3.4 Million Filipinos with Diabetes<br />94% Class C-E<br />10 Step Marketing Plan ...
Oral Anti-Diabetic Consumption 2007<br />Market Size (DOH Data & Journals)<br />
Market Size (DOH Data & Journals)<br />3.4 Million Filipinos with Diabetes<br />94% Class C-E<br />31% Prescribed Metformi...
Oral Anti-Diabetic Consumption 2007<br />Market Size (DOH Data & Journals)<br />Social Weather Stations (SWS) survey showe...
Market Size (DOH Data & Journals)<br />3.4 Million Filipinos with Diabetes<br />94% Class C-E<br />31% Prescribed Metformi...
(Business Monitor International Data)<br />Market Size<br />10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C...
Market Size (International Data)<br />Philippine Pharmaceutical Industry<br />PhP116 Trillion<br />Share of Oral Anti-Diab...
Market Size (Company)<br />RiteMed Revenue<br />PhP 5.29 Billion<br />Share of Oral Anti-Diabetics<br />2.59% or PhP 1.5 B...
Market Size <br />Local Data: PhP1.2 Billion <br />International Data: PhP1.08 Billion<br />Company Data: Php1.5 Billion<b...
Marketing Mix Strategy<br />Part II of II<br />
Part 2: Step 6 of 10<br />Product<br />
Metformin HCl Leaders<br />10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ram...
Product Feature<br />RiteMed Metformin HCl<br />10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * ...
Product Feature<br />RiteMed Metformin HCl<br />10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * ...
Product Information<br />Contents:<br />Metformin HCl<br />Indications: <br />Type 2 diabetes inadequately controlled by d...
Product Information<br />Administration:<br />Administered with After Meals<br />Contraindications: <br />Renal Impairment...
Product Information<br />Adverse Drug Reactions: <br />Anorexia, nausea, vomiting, diarrhea, lactic acidosis, decreased vi...
Part 2: Step 7 of 10<br />Price<br />
Price<br />20-80% Less Compared to Branded Equivalents<br />10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C...
Price<br />20-80% Less Compared to Branded Equivalents<br />10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C...
Price<br />CheapestDrug Available in the Market<br />43% Cheaper Than Industry Average<br />Main market strategy: Price le...
Part 2: Step 8 of 10<br />Promotion<br />
GOALS<br />GOAL:<br />Increase Generics market share by 10% in 3 years<br />
Promotional Strategies<br />Advertisements<br />Tri-Media<br />Public Relations<br />Corporate Social Responsibility, Part...
Advertisements<br />10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jo...
Videos/Broadcast Media<br />Advertisements<br />View From: http://www.youtube.com/watch?v=n1LHtncXXPA&feature=related<br /...
Videos/Broadcast Media<br />Advertisements<br />View From: http://www.youtube.com/watch?v=n1LHtncXXPA&feature=related<br /...
Commitment to Community & Health Education Campaigns<br />Corporate Social Responsibility<br />Educational Campaigns<br />...
Human Resources<br />Sales Representatives<br />10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * ...
PROPOSED MARKETING STRATEGIES<br />SPECIFIC ACTION PLAN<br />
I of III: Redesigning RiteMed Logo <br />Strategy #1: Maximize Brand Recognition<br />Specific Objectives: <br />To maximi...
Specific Objectives: <br />To create immediate identification of RiteMed (Parent Brand) with Metformin<br />To maintain ow...
Specific Objectives: To enable consumer price awareness of RiteMedMetformin<br />Resources: Marketing Department, Sales De...
Monitoring <br />Survey (target market)<br />Brand knowledge<br />Brand trust<br />Brand association<br />Sales trend<br /...
Competitors<br />Direct Competitors (Branded) with                                    No Broadcast Media:<br />Boie<br /> ...
Competitors<br />Direct Competitors (Branded) with                                    No Broadcast Media But Rely on:<br /...
Competitors<br />Leading Pharmaceuticals with no Metformin Products:<br />Pfizer Inc.<br />Wyeth Philippines<br />AstraZen...
Videos/Broadcast Media<br />Competitors (Generic)<br />View From: http://www.youtube.com/watch?v=Z2ocsYU2i-s&feature=playe...
Videos/Broadcast Media<br />Competitors (Generic)<br />View From: http://www.youtube.com/watch?v=OGufEVhhf3Y&feature=relat...
Part 2: Step 9 of 10<br />Place<br />
Available in Leading Pharmacies Nationwide<br />Place<br />Uses Logistical Leverage of Unilab<br />10 Step Marketing Plan ...
Part 2: Step 10 of 10<br />Generic Winning Strategy<br />
Generic Winning Strategy<br />Price & Quality Leadership<br /> Branded-Generics Strategy!<br />RiteMed’s Generic Strategy ...
Generic Winning Strategy<br />10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. ...
Summary<br />Steps 1 to 10<br />
Five Steps<br />Part I of II: PTM and Positioning<br />1. Target Market: Diabetes Type 2 Patients<br />2. NWE:Optimal Glyc...
Five Steps<br />Part II of II: Marketing Mix & Strategy<br />6. Product: Metformin HCl from RiteMed<br />7. Price: 20-80% ...
Meet<br />
Meet<br />
Meet<br />.<br />
HAVE<br />
FROM<br />
10 Step Marketing Plan for RiteMed Metformin HCl<br />08 January 2011<br />Justine Andrea C. Paredes * Marie Isobelle E. R...
Marketing Mix Strategy<br />Part II of II<br />
Branded Generics<br />P<br />atent<br />
Branded Generics<br />P<br />atent<br />lan<br />
Plan<br />Average<br />unit cost<br />of output<br />Underutilization<br />Overutilization<br />Best Operating<br />Level<...
Plan<br />Yesterday<br />Cost or<br />price<br />per unit<br />Today<br />Tomorrow<br />Total accumulated production of un...
Branded Generics<br />P<br />atent<br />lan<br />rice<br />
All information obtained and presented herein are plainly for academic purposes. Please refrain from citing data without c...
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10 Step Marketing Plan for RiteMed Metformin HCl

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10 Step Marketing Plan for RiteMed Metformin HCl

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Paredes, Ramos, Tan JM, Tenazas, Uy MEG

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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&amp;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 &amp; Price Difference
  • Administer questionnaires/survey to doctors and consumers regarding RiteMedMetformin brand knowledge, trust and association (what values they associate RiteMEdmetformin with)
  • Transcript of "10 Step Marketing Plan for RiteMed Metformin HCl"

    1. 1. Meet<br />
    2. 2. Meet<br />
    3. 3. Meet<br />.<br />
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    22. 22.
    23. 23. 5Million<br />
    24. 24.
    25. 25. 1:18<br />
    26. 26. 1:18<br />
    27. 27. 1:18<br />
    28. 28.
    29. 29. FIVE<br />
    30. 30. FIVE<br />OF<br />
    31. 31. FIVE<br />OF<br />YOU.<br />
    32. 32.
    33. 33. 10 Step Marketing Plan for RiteMed Metformin HCl<br />08 January 2011<br />Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan<br />Mikhail G. Tenazas * Maria Ellaine Grace K. Uy<br />
    34. 34. Five Steps<br />Part I of II: PTM and Positioning<br />1. Target Market: Diabetes Type 2 Patients<br />2. NWE:Optimal Glycemic Control<br />3. Choice: Branded and/or <br /> Generic Medications<br />4. Gap: Low-Cost High-Quality Drugs<br />5. Market Size: PhP2.3 Billion (Total)<br /> PhP1.5 Billion Niche<br />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<br />
    35. 35. Five Steps<br />Part II of II: Marketing Mix & Strategy<br />6. Product: Metformin HCl from RiteMed<br />7. Price: 20-80% less of Branded Price<br />8. Promotion: Redesigning RiteMed Logo<br /> Branding the Product<br /> Maximize Price Leadership<br />9. Place: Unilab Network, Nationwide<br />10. Strategy: Branded Generics<br /> (Low Cost & High Quality)<br />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<br />
    36. 36. Part 1: Step 1 of 5<br />Positioning to the Primary Target Market<br />
    37. 37. Primary Target Market <br />Type II Diabetes Patients<br />Demographics:<br /> > 40 years old<br /> Social Class C to E<br />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<br />
    38. 38. Primary Target Market <br />Lifestyle: <br /> Minimal Physical Exercise<br /> High Consumption of Processed Foods <br /> High Sugar Diet<br />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<br />
    39. 39. Health-Seeking Behavior<br />Primary Target Market <br />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<br />
    40. 40. Health-Seeking Behavior<br />Primary Target Market <br />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<br />
    41. 41. Primary Target Market <br />Consumption Behavior: <br /> 500 mg Tablet<br />Two Tablets per Day<br /> Regular Hospital Monitoring<br /> Multiple Medications<br /> Lifestyle Changes<br />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<br />
    42. 42. Part 1: Step 2 of 5<br />Needs Wants and Expectations <br />of Target Market<br />
    43. 43. Maslow’s Hierarchy of Needs<br />Needs, Wants and Expectations<br />Realization of Goals<br />A Foundation of<br />Good Health<br />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<br />
    44. 44. Developmental Stages of Erik Erikson<br />Needs, Wants and Expectations<br />
    45. 45. Needs, Wants and Expectations<br />Developmental Stages of Erik Erikson<br />Middle Adulthood (35 to 55)<br />Generativityvs Stagnation <br />Diseases Produce Fear of Inactivity & Meaninglessness<br />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<br />
    46. 46. Needs, Wants and Expectations<br />Wants:<br /> Quality Assurance:<br />Efficacy<br /> Limited Side Effects<br />Low-Cost<br />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<br />
    47. 47. Needs, Wants and Expectations<br />Expectations:<br /> Decrease Blood Sugar Level<br /> Good Glycemic Control<br /> No Disease Progression<br />Controlled Side Effects<br />Good Value!: Low Price<br /> Fulfillment of Brand Promise<br />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<br />
    48. 48. Part 1: Step 3 of 5<br />Direct and Indirect Competitors<br />
    49. 49. Competitors<br />Direct Competitors (Branded):<br />Boie<br /> Britton<br /> Health Saver<br /> Littman<br /> Metro Drug<br />Metrolink Pharm <br />Natrapharm<br />NextChem<br />Pharma Nutria<br /> Sanofi-Aventis<br /> Winthrop<br />Zuellig<br />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<br />
    50. 50. Competitors<br />Direct Competitors (Generic):<br />The Generics Pharmacy<br />Generika Pharmacy<br />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<br />
    51. 51. Competitors<br />Indirect Competitors:<br />Exercise<br />Diet<br />Herbal Preparations<br />Insulin<br />Secretagogues<br />Thiazolidinediones<br />Alpha-glucosidaseInhibitors<br />Incretin-based Treatments <br />Amylin Analogs<br />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<br />
    52. 52. Competitors<br />Variables:<br />Efficacy:<br /> Glycemic Reduction<br /> Glycemic Control<br /> Reduction of DM Sequelae<br />Safety:<br />Minimal Side Effects<br />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<br />
    53. 53. Competitors<br />Variables:<br /> Price<br /> Ease of Treatment Regimen<br /> Brand Perception<br /> Name Recall<br /> Physician Prescription Practice<br /> Accessibility<br /> Availability<br />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<br />
    54. 54. Position Map<br />Variables:<br /> Price<br />Quality: Regulated (BFAD)<br /> Quality Perception<br />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<br />
    55. 55. Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
    56. 56. Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
    57. 57. Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
    58. 58. Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
    59. 59. Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
    60. 60. Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />Niche: Only High-Quality & Low-Cost Product in the Market<br />
    61. 61. Part 1: Step 4 of 5<br />Customer-Competition Gap<br />
    62. 62. Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
    63. 63. Price-Brand Recall for Quality Matrix<br />Competitive Position Map<br />
    64. 64. Demand-Supply Gap<br />RiteMed Metformin is the only product that:<br />Assures Quality of Branded Products<br />At Price of Generic Drugs<br />Other drugs assure quality at a price of high cost or provide low cost with questionable quality.<br />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<br />
    65. 65. Part 1: Step 5 of 5<br />Market Size<br />
    66. 66. Market Size (DOH Data & Journals)<br />3.4 Million Filipinos with Diabetes<br />94% Class C-E<br />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<br />
    67. 67. Oral Anti-Diabetic Consumption 2007<br />Market Size (DOH Data & Journals)<br />
    68. 68. Market Size (DOH Data & Journals)<br />3.4 Million Filipinos with Diabetes<br />94% Class C-E<br />31% Prescribed Metformin<br />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<br />
    69. 69. Oral Anti-Diabetic Consumption 2007<br />Market Size (DOH Data & Journals)<br />Social Weather Stations (SWS) survey showed the percentage of Filipinos using generic drugs increased to 55 percent in 2008.<br />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<br />
    70. 70. Market Size (DOH Data & Journals)<br />3.4 Million Filipinos with Diabetes<br />94% Class C-E<br />31% Prescribed Metformin<br />55% Use Generic Drugs<br />PhP 3.15 Retail Cost of 1 Metformin HCl Tab<br />Consumption: 2x/Day<br />Market Size: PhP 1.2 Billion <br />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<br />
    71. 71. (Business Monitor International Data)<br />Market Size<br />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<br />
    72. 72. Market Size (International Data)<br />Philippine Pharmaceutical Industry<br />PhP116 Trillion<br />Share of Oral Anti-Diabetics<br />3% or PhP3.5 Billion<br />Share of Metformin<br />31% or PhP1.08 Billion<br />Market Size: PhP1.08 Billion <br />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<br />
    73. 73. Market Size (Company)<br />RiteMed Revenue<br />PhP 5.29 Billion<br />Share of Oral Anti-Diabetics<br />2.59% or PhP 1.5 Billion<br />Market Size: PhP1.5 Billion <br />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<br />
    74. 74. Market Size <br />Local Data: PhP1.2 Billion <br />International Data: PhP1.08 Billion<br />Company Data: Php1.5 Billion<br />Market Size: PhP1 to 1.5 Billion <br />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<br />
    75. 75. Marketing Mix Strategy<br />Part II of II<br />
    76. 76. Part 2: Step 6 of 10<br />Product<br />
    77. 77. Metformin HCl Leaders<br />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<br />
    78. 78. Product Feature<br />RiteMed Metformin HCl<br />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<br />
    79. 79. Product Feature<br />RiteMed Metformin HCl<br />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<br />
    80. 80. Product Information<br />Contents:<br />Metformin HCl<br />Indications: <br />Type 2 diabetes inadequately controlled by diet and exercise alone.<br />Dosage: <br />Initially 500 mg every 12 hr, dose may be gradualy increased to a max of 2250 mg daily.<br />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<br />
    81. 81. Product Information<br />Administration:<br />Administered with After Meals<br />Contraindications: <br />Renal Impairment, Congestive Heart Failure, Acute or Chronic Metabolic Acidosis.<br />Special Precautions: <br />Elderly, Hepatic and Renal impairment<br />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<br />
    82. 82. Product Information<br />Adverse Drug Reactions: <br />Anorexia, nausea, vomiting, diarrhea, lactic acidosis, decreased vit B12 absorption<br />Preparation: <br />In 500 mg and 850 mg tablets<br />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<br />
    83. 83. Part 2: Step 7 of 10<br />Price<br />
    84. 84. Price<br />20-80% Less Compared to Branded Equivalents<br />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<br />
    85. 85. Price<br />20-80% Less Compared to Branded Equivalents<br />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<br />
    86. 86. Price<br />CheapestDrug Available in the Market<br />43% Cheaper Than Industry Average<br />Main market strategy: Price leader<br />Cheapest Alternative for Metformin <br />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<br />
    87. 87. Part 2: Step 8 of 10<br />Promotion<br />
    88. 88.
    89. 89.
    90. 90. GOALS<br />GOAL:<br />Increase Generics market share by 10% in 3 years<br />
    91. 91. Promotional Strategies<br />Advertisements<br />Tri-Media<br />Public Relations<br />Corporate Social Responsibility, Partnership with Public/Private Sector(s)<br />Marketing<br />Sales Representatives<br />Health Education Campaigns<br />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<br />
    92. 92. Advertisements<br />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<br />
    93. 93. Videos/Broadcast Media<br />Advertisements<br />View From: http://www.youtube.com/watch?v=n1LHtncXXPA&feature=related<br />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<br />
    94. 94. Videos/Broadcast Media<br />Advertisements<br />View From: http://www.youtube.com/watch?v=n1LHtncXXPA&feature=related<br />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<br />
    95. 95. Commitment to Community & Health Education Campaigns<br />Corporate Social Responsibility<br />Educational Campaigns<br />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<br />
    96. 96. Human Resources<br />Sales Representatives<br />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<br />
    97. 97. PROPOSED MARKETING STRATEGIES<br />SPECIFIC ACTION PLAN<br />
    98. 98. I of III: Redesigning RiteMed Logo <br />Strategy #1: Maximize Brand Recognition<br />Specific Objectives: <br />To maximize brand recognition between Unilab and RiteMed<br />Resources:Marketing department, Graphic artist<br />Timeline: 1 month<br />UNILAB = QUALITY<br />RiteMed = AFFORDABLE PRICE<br />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<br />
    99. 99. Specific Objectives: <br />To create immediate identification of RiteMed (Parent Brand) with Metformin<br />To maintain ownership of product such that the brand retains generic drug name<br />Resources: Marketing department, Graphic artist<br />Timeline: 1 month<br />II of III: Branding a Product<br />Strategy #2: Place a Brand Name to Metfromin Generic Drug<br />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<br />
    100. 100. Specific Objectives: To enable consumer price awareness of RiteMedMetformin<br />Resources: Marketing Department, Sales Department<br />Timeline: 1 month<br />III of III: Maximize Price Leadership<br />Strategy #3: Maximize Position as Price Leader<br />P3.09 <br />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<br />
    101. 101. Monitoring <br />Survey (target market)<br />Brand knowledge<br />Brand trust<br />Brand association<br />Sales trend<br />Market share<br />Competitor marketing strategies<br />
    102. 102. Competitors<br />Direct Competitors (Branded) with No Broadcast Media:<br />Boie<br /> Britton<br /> Health Saver<br /> Littman<br /> Metro Drug<br />Metrolink Pharm <br />Natrapharm<br />NextChem<br />Pharma Nutria<br /> Sanofi-Aventis<br /> Winthrop<br />Zuellig<br />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<br />
    103. 103. Competitors<br />Direct Competitors (Branded) with No Broadcast Media But Rely on:<br />Medical Sales Representatives<br />Giving free Product Samples<br />Product Peripherals<br />Sponsorship Programs (Events, purchases) <br />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<br />
    104. 104. Competitors<br />Leading Pharmaceuticals with no Metformin Products:<br />Pfizer Inc.<br />Wyeth Philippines<br />AstraZeneca<br />Bristol-Myers Squib<br />Novartis<br />Abott Lab<br />Roche Philippines<br />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<br />
    105. 105. Videos/Broadcast Media<br />Competitors (Generic)<br />View From: http://www.youtube.com/watch?v=Z2ocsYU2i-s&feature=player_embedded<br />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<br />
    106. 106. Videos/Broadcast Media<br />Competitors (Generic)<br />View From: http://www.youtube.com/watch?v=OGufEVhhf3Y&feature=related<br />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<br />
    107. 107. Part 2: Step 9 of 10<br />Place<br />
    108. 108. Available in Leading Pharmacies Nationwide<br />Place<br />Uses Logistical Leverage of Unilab<br />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<br />
    109. 109. Part 2: Step 10 of 10<br />Generic Winning Strategy<br />
    110. 110. Generic Winning Strategy<br />Price & Quality Leadership<br /> Branded-Generics Strategy!<br />RiteMed’s Generic Strategy is to Dominate Low-Cost Generics Market by Providing High Quality Assurance of its Parent Brand, Unilab.<br />Maximizes Research & Logistical Capacity<br />Maximizes Unilab Brand<br />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<br />
    111. 111. Generic Winning Strategy<br />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<br />
    112. 112. Summary<br />Steps 1 to 10<br />
    113. 113. Five Steps<br />Part I of II: PTM and Positioning<br />1. Target Market: Diabetes Type 2 Patients<br />2. NWE:Optimal Glycemic Control<br />3. Choice: Branded and/or <br /> Generic Medications<br />4. Gap: Low-Cost High-Quality Drugs<br />5. Market Size: PhP2.3 Billion (Total)<br /> PhP1.5 Billion Niche<br />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<br />
    114. 114. Five Steps<br />Part II of II: Marketing Mix & Strategy<br />6. Product: Metformin HCl from RiteMed<br />7. Price: 20-80% less of Branded Price<br />8. Promotion: Redesigning RiteMed Logo<br /> Branding the Product<br /> Maximize Price Leadership<br />9. Place: Unilab Network, Nationwide<br />10. Strategy: Branded Generics<br /> (Low Cost & High Quality)<br />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<br />
    115. 115.
    116. 116. Meet<br />
    117. 117. Meet<br />
    118. 118. Meet<br />.<br />
    119. 119.
    120. 120.
    121. 121.
    122. 122.
    123. 123.
    124. 124.
    125. 125.
    126. 126.
    127. 127.
    128. 128.
    129. 129.
    130. 130.
    131. 131.
    132. 132.
    133. 133.
    134. 134.
    135. 135.
    136. 136.
    137. 137.
    138. 138.
    139. 139. HAVE<br />
    140. 140.
    141. 141. FROM<br />
    142. 142.
    143. 143.
    144. 144.
    145. 145.
    146. 146.
    147. 147.
    148. 148.
    149. 149. 10 Step Marketing Plan for RiteMed Metformin HCl<br />08 January 2011<br />Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan<br />Mikhail G. Tenazas * Maria Ellaine Grace K. Uy<br />
    150. 150. Marketing Mix Strategy<br />Part II of II<br />
    151. 151. Branded Generics<br />P<br />atent<br />
    152. 152. Branded Generics<br />P<br />atent<br />lan<br />
    153. 153. Plan<br />Average<br />unit cost<br />of output<br />Underutilization<br />Overutilization<br />Best Operating<br />Level<br />Volume<br />
    154. 154. Plan<br />Yesterday<br />Cost or<br />price<br />per unit<br />Today<br />Tomorrow<br />Total accumulated production of units<br />
    155. 155. Branded Generics<br />P<br />atent<br />lan<br />rice<br />
    156. 156. All information obtained and presented herein are plainly for academic purposes. Please refrain from citing data without consent from authors.<br />08 January 2011<br />Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Mariano T. Tan<br />Mikhail G. Tenazas * Maria Ellaine Grace K. Uy<br />

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