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10 Step Marketing Plan for RiteMed Metformin HCl
 

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)

10 Step Marketing Plan for RiteMed Metformin HCl 10 Step Marketing Plan for RiteMed Metformin HCl Presentation Transcript

  • Meet
  • Meet
  • Meet
    .
  • 5Million
  • 1:18
  • 1:18
  • 1:18
  • FIVE
  • FIVE
    OF
  • FIVE
    OF
    YOU.
  • 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
  • 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
  • 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
  • Part 1: Step 1 of 5
    Positioning to the Primary Target Market
  • 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
  • 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
  • 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
  • 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
  • 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
  • Part 1: Step 2 of 5
    Needs Wants and Expectations
    of Target Market
  • 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
  • Developmental Stages of Erik Erikson
    Needs, Wants and Expectations
  • 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
  • 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
  • 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
  • Part 1: Step 3 of 5
    Direct and Indirect Competitors
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • Price-Brand Recall for Quality Matrix
    Competitive Position Map
  • Price-Brand Recall for Quality Matrix
    Competitive Position Map
  • Price-Brand Recall for Quality Matrix
    Competitive Position Map
  • Price-Brand Recall for Quality Matrix
    Competitive Position Map
  • Price-Brand Recall for Quality Matrix
    Competitive Position Map
  • Price-Brand Recall for Quality Matrix
    Competitive Position Map
    Niche: Only High-Quality & Low-Cost Product in the Market
  • Part 1: Step 4 of 5
    Customer-Competition Gap
  • Price-Brand Recall for Quality Matrix
    Competitive Position Map
  • Price-Brand Recall for Quality Matrix
    Competitive Position Map
  • 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
  • Part 1: Step 5 of 5
    Market Size
  • 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
  • Oral Anti-Diabetic Consumption 2007
    Market Size (DOH Data & Journals)
  • 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
  • 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
  • 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
  • (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
  • 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
  • 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
  • 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
  • Marketing Mix Strategy
    Part II of II
  • Part 2: Step 6 of 10
    Product
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • Part 2: Step 7 of 10
    Price
  • 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
  • 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
  • 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
  • Part 2: Step 8 of 10
    Promotion
  • GOALS
    GOAL:
    Increase Generics market share by 10% in 3 years
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • PROPOSED MARKETING STRATEGIES
    SPECIFIC ACTION PLAN
  • 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
  • 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
  • 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
  • Monitoring
    Survey (target market)
    Brand knowledge
    Brand trust
    Brand association
    Sales trend
    Market share
    Competitor marketing strategies
  • 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
  • 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
  • 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
  • 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
  • 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
  • Part 2: Step 9 of 10
    Place
  • 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
  • Part 2: Step 10 of 10
    Generic Winning Strategy
  • 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
  • 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
  • Summary
    Steps 1 to 10
  • 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
  • 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
  • Meet
  • Meet
  • Meet
    .
  • HAVE
  • FROM
  • 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
  • Marketing Mix Strategy
    Part II of II
  • Branded Generics
    P
    atent
  • Branded Generics
    P
    atent
    lan
  • Plan
    Average
    unit cost
    of output
    Underutilization
    Overutilization
    Best Operating
    Level
    Volume
  • Plan
    Yesterday
    Cost or
    price
    per unit
    Today
    Tomorrow
    Total accumulated production of units
  • Branded Generics
    P
    atent
    lan
    rice
  • 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