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10 Step Marketing Plan for RiteMed Metformin HCl
08 January 2011
Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jos...
Five Steps
Part I of II: PTM and Positioning
1. Target Market: Diabetes Type 2 Patients
2. NWE:Optimal Glycemic Control
3....
Five Steps
Part II of II: Marketing Mix & Strategy
6. Product: Metformin HCl from RiteMed
7. Price: 20-80% less of Bra...
Part 1: Step 1 of 5
Positioning to the Primary Target Market
Primary Target Market 
Type II Diabetes Patients
Demographics:
 > 40 years old
 M > F *
 Social Class C to E
Overwei...
Primary Target Market 
Lifestyle: 
 Minimal Physical Exercise
 High Consumption of Processed Foods 
 High Sugar Diet
10 St...
Health-Seeking Behavior
Primary Target Market 
10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * M...
Health-Seeking Behavior
Primary Target Market 
10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * M...
Primary Target Market 
Consumption Behavior: 
 500 mg Tablet
Two Tablets per Day
 Regular Hospital Monitoring
 Multiple Me...
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 Marketi...
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 
...
Needs, Wants and Expectations
Wants:
 Quality Assurance
 Efficacy
 Low-Cost
 Limited Side Effects
10 Step Marketing Plan f...
Needs, Wants and Expectations
Expectations:
 Decrease Blood Sugar Level
 Good Glycemic Control
 Controlled Side Effects
 N...
Part 1: Step 3 of 5
Direct and Indirect Competitors
Competitors
Direct Competitors (Branded):
Boie
 Britton
 Health Saver
 Littman
 Metro Drug
Metrolink Pharm 
Natrapharm
Nex...
Competitors
Direct Competitors (Generic):
The Generics Pharmacy
Generika Pharmacy
10 Step Marketing Plan for RiteMed Metfo...
Competitors
Indirect Competitors:
Exercise
Diet
Herbal Preparations
Insulin
Secretagogues
Thiazolidinediones
Alpha-glucosi...
Competitors
Variables:
Efficacy:
 Glycemic Reduction
 Glycemic Control
 Reduction of DM Sequelae
Safety:
Minimal Side Effe...
Competitors
Variables:
 Price
 Ease of Treatment Regimen
 Brand Perception
 Name Recall
 Physician Prescription Practice
 ...
Position Map
Variables:
 Price
Quality: Regulated (BFAD)
 Quality Perception
10 Step Marketing Plan for RiteMed Metformin:...
Price-Brand Recall for Quality Matrix
Competitive Position Map
Brand Portfolio Size as a Function of Brand Saliency & ...
Price-Brand Recall for Quality Matrix
Competitive Position Map
Brand Portfolio Size as a Function of Brand Saliency & ...
Part 1: Step 4 of 5
Customer-Competition Gap
Demand-Supply Gap
Demand-Supply Gap
RiteMed Metformin is the only product that:
Assures Quality of Branded Products
 Rite Medicine
Rite Form...
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...
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 M...
Oral Anti-Diabetic Consumption 2007
Market Size (DOH Data & Journals)
Social Weather Stations (SWS) survey showed the ...
Market Size (DOH Data & Journals)
3.4 Million Filipinos with Diabetes
94% Class C-E
31% Prescribed Metformin
55% Use G...
(Business Monitor International Data)
Market Size
10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes ...
Market Size (International Data)
Philippine Pharmaceutical Industry
PhP116 Trillion
Share of Oral Anti-Diabetics
3% or PhP...
Market Size (Company)
RiteMed Revenue
PhP 5.29 Billion
Share of Oral Anti-Diabetics
2.59% or PhP 1.5 Billion
Market Size: ...
Market Size 
Local Data: PhP1.2 Billion 
International Data: PhP1.08 Billion
Company Data: Php1.5 Billion
Market Size: PhP...
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 * ...
Product Feature
RiteMed Metformin HCl
10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isob...
Product Feature
RiteMed Metformin HCl
10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isob...
Product Information
Contents:
Metformin HCl
Indications: 
Type 2 diabetes inadequately controlled by diet and exercise alo...
Product Information
Administration:
Administered with After Meals
Contraindications: 
Renal Impairment, Congestive Heart F...
Product Information
Adverse Drug Reactions: 
Anorexia, nausea, vomiting, diarrhea, lactic acidosis, decreased vit B12 abso...
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 ...
Price
20-80% Less Compared to Branded Equivalents
10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes ...
Price
CheapestDrug Available in the Market
43% Cheaper Than Industry Average
Main market strategy: Price leader
Cheapest A...
Part 2: Step 8 of 10
Promotion
Promotional Strategies
Advertisements
Tri-Media
Public Relations
Corporate Social Responsibility, Partnership with Public/...
Advertisements
10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jose Ma...
Videos/Broadcast Media
Advertisements
View From: http://www.youtube.com/watch?v=n1LHtncXXPA&feature=related
10 Step Ma...
Commitment to Community & Health Education Campaigns
Corporate Social Responsibility
Educational Campaigns
10 Step Mar...
Human Resources
Sales Representatives
10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isob...
I of III: Redesigning RiteMed Logo 
Proposed Marketing Strategies
Maximize Brand Recognition between Unilab and RiteMed:
H...
Place a Brand Name to Metformin Generic Drug:
Key Features: 
Immediate Identification of RiteMed (Parent Brand)
Brand Reta...
Maximize Position as Price Leader
Inform Target Market of Price & Price Difference
III of III: Maximize Price Leadersh...
Competitors
Direct Competitors (Branded) with                                    No Broadcast Media:
Boie
 Britton
 Health...
Competitors
Direct Competitors (Branded) with                                    No Broadcast Media But Rely on:
Medical S...
Competitors
Leading Pharmaceuticals with no Metformin Products:
Pfizer Inc.
Wyeth Philippines
AstraZeneca
Bristol-Myers Sq...
Videos/Broadcast Media
Competitors (Generic)
View From: http://www.youtube.com/watch?v=Z2ocsYU2i-s&feature=player_embe...
Videos/Broadcast Media
Competitors (Generic)
View From: http://www.youtube.com/watch?v=OGufEVhhf3Y&feature=related
10 ...
Part 2: Step 9of 10
Place
Available in Leading Pharmacies Nationwide
Place
Uses Logistical Leverage of Unilab
10 Step Marketing Plan for RiteMed Met...
Part 2: Step 10of 10
Generic Winning Strategy
Generic Winning Strategy
Price & Quality Leadership
 Branded-Generics Strategy!
RiteMed’s Generic Strategy is to Domin...
Generic Winning Strategy
10 Step Marketing Plan for RiteMed Metformin: Justine Andrea C. Paredes * Marie Isobelle E. Ramos...
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....
Five Steps
Part II of II: Marketing Mix & Strategy
6. Product: Metformin HCl from RiteMed
7. Price: 20-80% less of Bra...
10 Step Marketing Plan for RiteMed Metformin HCl
08 January 2011
Justine Andrea C. Paredes * Marie Isobelle E. Ramos * Jos...
All information obtained and presented herein are plainly for academic purposes. Please refrain from citing data without c...
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  1. 1. 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
  2. 2. 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
  3. 3. 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
  4. 4. Part 1: Step 1 of 5 Positioning to the Primary Target Market
  5. 5. Primary Target Market Type II Diabetes Patients Demographics: > 40 years old M > F * Social Class C to E Overweight * 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
  6. 6. 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
  7. 7. 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
  8. 8. 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
  9. 9. 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
  10. 10. Part 1: Step 2 of 5 Needs Wants and Expectations of Target Market
  11. 11. 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
  12. 12. Developmental Stages of Erik Erikson Needs, Wants and Expectations
  13. 13. Needs, Wants and Expectations Developmental Stages of Erik Erikson Middle Adulthood (35 to 55) Generativityvs Stagnation Diseases Produces 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
  14. 14. Needs, Wants and Expectations Wants: Quality Assurance Efficacy Low-Cost Limited 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
  15. 15. Needs, Wants and Expectations Expectations: Decrease Blood Sugar Level Good Glycemic Control Controlled Side Effects No Disease Progression Generics Price Range Good Value! 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
  16. 16. Part 1: Step 3 of 5 Direct and Indirect Competitors
  17. 17. 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
  18. 18. 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
  19. 19. 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
  20. 20. 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
  21. 21. 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
  22. 22. 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
  23. 23. Price-Brand Recall for Quality Matrix Competitive Position Map Brand Portfolio Size as a Function of Brand Saliency & Recall Zuellig Price per Unit Britton Natrapharm Littman Winthrop Metro Drug Unilab + RiteMed NextChem PharmaNutria Boie The Generics Pharmacy Generika Source: IMS 2003 & MIMS 2010
  24. 24. Price-Brand Recall for Quality Matrix Competitive Position Map Brand Portfolio Size as a Function of Brand Saliency & Recall Niche as High Brand Recall for Quality Low-Cost Drug! Zuellig Price per Unit Britton Natrapharm Littman Winthrop Metro Drug Unilab + RiteMed NextChem PharmaNutria Boie The Generics Pharmacy Generika Source: IMS 2003 & MIMS 2010
  25. 25. Part 1: Step 4 of 5 Customer-Competition Gap Demand-Supply Gap
  26. 26. Demand-Supply Gap RiteMed Metformin is the only product that: Assures Quality of Branded Products Rite Medicine Rite Formulation At Price of Generic Drugs Rite Price Other drugs assure quality at a price of high cost or provide low cost with questionable quality. Wide Market Distribution 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
  27. 27. Part 1: Step 5 of 5 Market Size
  28. 28. 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
  29. 29. Oral Anti-Diabetic Consumption 2007 Market Size (DOH Data & Journals)
  30. 30. 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
  31. 31. 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
  32. 32. 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
  33. 33. (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
  34. 34. 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
  35. 35. 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
  36. 36. 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
  37. 37. Marketing Mix Strategy Part II of II
  38. 38. Part 2: Step 6 of 10 Product
  39. 39. 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
  40. 40. 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
  41. 41. 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
  42. 42. 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
  43. 43. 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
  44. 44. 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
  45. 45. Part 2: Step 7 of 10 Price
  46. 46. 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
  47. 47. 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
  48. 48. Price CheapestDrug Available in the Market 43% Cheaper Than Industry Average Main market strategy: Price leader Cheapest Alternative for Metformin While Assuring Quality and Efficacy of Product 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
  49. 49. Part 2: Step 8 of 10 Promotion
  50. 50. 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
  51. 51. 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
  52. 52. 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
  53. 53. 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
  54. 54. 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
  55. 55. I of III: Redesigning RiteMed Logo Proposed Marketing Strategies Maximize Brand Recognition between Unilab and RiteMed: Highlight Features: Unilab for Quality& RiteMed for 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
  56. 56. Place a Brand Name to Metformin Generic Drug: Key Features: Immediate Identification of RiteMed (Parent Brand) Brand Retains Generic Drug Name Aligned with Marketing Strategy of RiteMed Ownership of Product II of III: Branding a Product Proposed Marketing Strategies 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
  57. 57. Maximize Position as Price Leader Inform Target Market of Price & Price Difference III of III: Maximize Price Leadership Proposed Marketing Strategies P3.15 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
  58. 58. 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
  59. 59. 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
  60. 60. 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
  61. 61. 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
  62. 62. 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
  63. 63. Part 2: Step 9of 10 Place
  64. 64. 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
  65. 65. Part 2: Step 10of 10 Generic Winning Strategy
  66. 66. 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
  67. 67. 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
  68. 68. Summary Steps 1 to 10
  69. 69. 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
  70. 70. 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
  71. 71. 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
  72. 72. 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
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