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10-Step Marketing Plan RiteMed Metformin HCl TanJM

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10-Step Marketing Plan RiteMed Metformin by Jose Mariano Tan …

10-Step Marketing Plan RiteMed Metformin by Jose Mariano Tan

ASMPH Class 2012 Marketing under Professor Barrenechea

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  • 1. 10-STEP MARKETING PLAN FOR Metformin HCl ® JOSE MARIANO TAN 29 NOVEMBER 2010
  • 2. FIVE STEPS FOR PART 1  1. Target Market: Diabetes Type 2 Patients"  2. NWE: Optimal Glycemic Control  3. Choice:   Branded and/or   Generic Medications  4. Gap: Branded Generics Strategy  5. Market Size:   PhP2.3 Billion (Total)   PhP1.2 Billion Niche
  • 3. FIVE STEPS FOR PART 2  1. Product: Metformin HCl from RiteMed"  2. Price: 20-80% less of Branded Price  3. Promotion:  Broadcast Trimedia (Unilab Guarantee)  Sales Representative  4. Place: Unilab Network, Nationwide  5. Strategy: Straddling (Low Cost & High Quality)
  • 4. Part 1: Step 1 of 5Positioning to thePrimary Target Market
  • 5. Primary Target Market  Demographics:   > 40 years old   M > F*   Social Class C to E   Overweight*  Lifestyle:   Minimal Physical Exercise   High Consumption of Processed Foods and High Sugar Diet
  • 6. Primary Target Market  Consumption Behavior:   500 mg Tablet   2x/day   Regular Hospital Monitoring   Multiple Medications   Lifestyle Changes
  • 7. Part 1: Step 2 of 5Needs Wants andExpectations ofTarget Market
  • 8. Needs, Wants and Expectations  Maslow’s Hierarchy of Needs Realization of Goals Good Health
  • 9. Needs, Wants and Expectations  Developmental Stages of Erik Erikson
  • 10. Needs, Wants and Expectations  Developmental Stages of Erik Erikson  Middle Adulthood (35 to 55)  Generativity (Fear of inactivity and meaninglessness)   Triggered by Disease States
  • 11. Needs, Wants and Expectations  Maslow’s Hierarchy of Needs Realization of Goals Generativity! Good Health
  • 12. Needs, Wants and Expectations  Wants:   Quality Assurance   Efficacy   Low-Cost   Limited Side Effects
  • 13. Needs, Wants and Expectations  Expectations:   Decrease Blood Sugar Level   Good Glycemic Control   Controlled Side Effects   No Disease Progression   Generics Price Range
  • 14. Part 1: Step 3 of 5Direct and IndirectCompetitors
  • 15. Competitors  Direct Competitors (Branded):   Boie   NextChem   Britton   Pharma Nutria   Health Saver   Sanofi-Aventis   Littman   Unilab   Metro Drug   Winthrop   Metrolink Pharm   Zuellig   Natrapharm
  • 16. Competitors  Direct Competitors (Generic):   The Generics Pharmacy   Generika
  • 17. Competitors  Indirect Competitors:   Exercise   Thiazolidinediones   Diet   Alpha-glucosidase   Insulin Inhibitors   Insulin   Incretin-based Secretagogues Treatments   Amylin Analog
  • 18. Competitors  Variables:   Efficacy:   Glycemic Reduction   Glycemic Control   Reduction of DM Sequelae   Safety:   Minimal Side Effects
  • 19. Competitors  Variables:   Price   Ease of Treatment   Brand Perception   Name Recall   Physician Prescription Practice   Accessibility   Availability
  • 20. Competitive Position Map: Price-Brand Recall for Quality Matrix Brand Recall: Quality Low Medium High > P8.51 P7.25-P8.50 ZuelligPrice per Unit P5.76-P7.00 Littman P4.51-P5.75 Winthrop Britton Natrapharm P3.25-P4.50 Metro Drug NextChem Pharma Nutria Boie Unilab < P3.25 The + Generika Generics Pharmacy RiteMed
  • 21. Competitive Position Map: Price-Brand Recall for Quality Matrix Brand Recall: Quality Low Medium High > P8.51 Niche as Quality Low- P7.25-P8.50 Cost Drug! ZuelligPrice per Unit P5.76-P7.00 Littman P4.51-P5.75 Winthrop Britton Natrapharm P3.25-P4.50 Metro Drug NextChem Pharma Nutria Boie Unilab < P3.25 The + Generika Generics Pharmacy RiteMed
  • 22. Part 1: Step 4 of 5Customer-Competition GapDemand-Supply Gap
  • 23. 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.
  • 24. Part 1: Step 5 of 5Market Size
  • 25. Market Size (DOH Data & Journals)  3.4 Million Filipinos with Diabetes  94% Class C-E
  • 26. Oral Anti-Diabetic Consumption 2007
  • 27. Market Size (DOH Data & Journals)  3.4 Million Filipinos with Diabetes  94% Class C-E  31% Prescribed Metformin
  • 28. Generic Drug Use (2010)  Social Weather Stations (SWS) survey showed the percentage of Filipinos using generic drugs increased to 55 percent in 2008.
  • 29. 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/DayMarket Size: PhP 1.2 Billion
  • 30. Market Size (Business MonitorInternational Data)
  • 31. Market Size (Business MonitorInternational Data)  Philippine Pharmaceutical Industry   PhP116 Trillion  Share of Oral Anti-Diabetics   3% or PhP3.5 Billion  Share of Metformin   31% or PhP1.08 BillionMarket Size: PhP1.08 Billion
  • 32. Market Size  Local Data: PhP1.2 Billion  International Data: PhP1.08 BillionMarket Size: PhP1-1.2 Billion
  • 33. Part 2: Steps 6 to 10Marketing Mix Strategy
  • 34. Part 2: Steps 6 of 10Product
  • 35. Metformin HCl Tablet Leaders
  • 36. Product  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.  Administration: Taken with food
  • 37. Product  Contraindications: Renal impairment, CHF requiring pharmacologic treatment, acute or chronic metabolic acidosis  Special Precautions: Elderly, hepatic and renal impairment  Adverse Drug Reactions: Anorexia, nausea, vomiting, diarrhea, lactic acidosis, decreased vit B12 absorption  Preparation: In 500 mg and 850 mg tablets
  • 38. Part 2: Steps 7 of 10Price
  • 39. Price  500 mg Tablet: PhP3.15  Cheapest Drug in the Market  43.7% Cheaper than Industry Average!
  • 40. Part 2: Steps 8 of 10Promotion
  • 41. Promotion (Present Strategies)  Advertising: Television and Radio  Public Relations: Corporate Social Responsibility  Direct Marketing: Sales Representatives
  • 42. Promotion (Present Strategies)RiteMed manufactures and markets off-patentpharmaceuticals priced 20 to 80 percent lower than equivalent branded drugs.
  • 43. Promotion (Present Strategies)
  • 44. Promotion (Present Strategies) http://www.youtube.com/watch?v=n1LHtncXXPA&feature=related
  • 45. Promotion (Present Strategies) http://www.youtube.com/watch?v=NtVAuZSUjmY&feature=related
  • 46. Promotion (Present Strategies)
  • 47. Promotion (Present Strategies) Sales Representatives
  • 48. Promotion (Proposal) +
  • 49. Promotion (Proposal)Source of Idea
  • 50. Promotion (Proposal) Unilab Yan! Unilab Guarantee Seal
  • 51. Promotion (Proposal)   Phenomenon of Branded Generics   “Company-branded generics can charge more for the promise of quality.”   “Patients prefer brands, as long as they are the main payers, they will continue to use branded generics.”
  • 52. Competitor Promotions  Leading Pharmaceuticals with NO Metformin Products:   Pfizer Inc   Wyeth Philippines   AstraZeneca   Bristol-Myers Squib   Novartis   Abott Lab   Roche Philippines
  • 53. Competitors  Direct Competitors (Branded):   Boie   NextChem   Britton   Pharma Nutria   Health Saver   Sanofi-Aventis   Littman   Unilab   Metro Drug   Winthrop   Metrolink Pharm   Zuellig   Natrapharm
  • 54. CompetitorsDirect Competitors (Branded):   No Broadcast Media Advertisement   Reliance on:   SalesRepresentatives   Events   Product Samples   Purchases   Product Peripherals   Sponsorship Programs
  • 55. Competitors  Direct Competitors (Generic):   The Generics Pharmacy http://www.youtube.com/watch?v=Z2ocsYU2i-s&feature=player_embedded   Generika http://www.youtube.com/watch?v=OGufEVhhf3Y&feature=related
  • 56. Part 2: Steps 9 of 10Place
  • 57. Place  RiteMed is available in all Major Pharmacies Nationwide:Using logistical leverage of Unilab!
  • 58. Part 2: Steps 10 of 10Generic Winning Strategy
  • 59. Generic Winning Strategy  Branded-Generics Strategy!  RiteMed’s Generic Strategy is to Dominate Low-Cost Generics Market by Providing High Quality Assurance of its Parent Brand, Unilab.  It benefits from the distribution and market leverage of Unilab.
  • 60. Summary
  • 61. FIVE STEPS FOR PART 1  1. Target Market: Diabetes Type 2 Patients"  2. NWE: Optimal Glycemic Control  3. Choice:   Branded and/or   Generic Medications  4. Gap: Branded Generics Strategy  5. Market Size:   PhP2.3 Billion (Total)   PhP1.2 Billion Niche
  • 62. FIVE STEPS FOR PART 2  1. Product: Metformin HCl from RiteMed"  2. Price: 20-80% less of Branded Price  3. Promotion:  Broadcast Trimedia (Unilab Guarantee)  Sales Representative  4. Place: Unilab Network, Nationwide  5. Strategy: Straddling (Low Cost & High Quality)