10 step marketing plan for the generics pharmacy

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  • Hi Ms. Myrtle, I need your help, I'm a student of University of the East, I want to ask about the Marketing Plan of the Generics Pharmacy and its mission,marketing, and financial objectives. email me at ponchang_13_88@yahoo.com, please help me.. thanks in advance! I wish I have a brain like you..
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  • Myrtle, I like your work. Please email as I need some help with a consulting project on Philippines pharmacy growth. As this is a public board initially I will just post my generic email address humphriesjason@hotmail.com I am a strategy consultant based in Singapore
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10 step marketing plan for the generics pharmacy

  1. 1. Template<br />10 Step Marketing PlanforThe Generics Pharmacy<br />Myrtle Frantilla<br />June 2011<br />http://myrtlefrantilla.blogspot.com/<br />1<br />
  2. 2. 2<br />Template<br />Disclaimer<br />The 10 Step Marketing Plan is one of the requirements in completion of Marketing Management Course under Prof. De Ungria’s class in Ateneo Professional Schools. This is a simplified process hence it has limitations and advantages.<br />We used a template and publicly available data to come up with this report. Moreover, this is posted and linked on slide share, blogs and facebook for easier access and sharing among students in marketing management class.<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  3. 3. 3<br />Template<br />Step 1 to 5<br />Identify your target (PTM)<br />What do they need, want and demand (NWD)<br />What are their choices (competitors)<br />Where is the opportunity (Gap)<br />How big is the market (3 Cs)<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  4. 4. 4<br />Template<br />Step 1 to 5<br />Medicine for masses.<br />Social Class Lower B,C D Filipinos who need cheaper medicines but with same quality of their branded equivalent. It also targets small entrepreneurs who want to have their own businesses.<br />Needs medicine comparable to branded product in terms of dosage, strength and quality without having that are cheaper.<br />Competitors include Mercury Drug, South Star Drug, BotikangBayan, Watsons, home made medicine and other local pharmacy.<br />Competitors Sell branded/listed drugs with a higher retail price while Generics pharmacy offers generic drugs with same quality but sold at a lower retail price.<br />Market Size: 6 out of 10 Filipinos are now opting for generic medicines over the more expensive branded counterparts.<br /> (pinoybusiness.org, 2009)<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  5. 5. 5<br />Template<br />Step 6 to 10<br />6. Product<br />7. Price<br />8. Promo<br />9. Place<br />10. Generic winning strategy of Mix<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  6. 6. 6<br />Template<br />Step 6 to 10<br />Cheaper Medicines for the lower class.<br />Product: The Generics Pharmacy<br />7. Price: Lower price than the branded medicines <br />8. Promo: Advertising campaigns (print,tv,internet), current economic status, <br />9. Place: Total of 1225 branches as of June 09 2011<br />10. Generic winning strategy of Mix: Niche marketing, Cheaper drugs but with same quality, other services<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  7. 7. 7<br />Template<br />Step 1: Primary Target Market<br />Demographics<br />Age: All ages<br />Sex: Male/Female<br />Social class: Class Lower B,C,D <br />Lifestyle<br />Blue collar worker who does not have medical benefits <br />from his/her company and is receiving subsistence<br />wage. Typical poor Filipino whose job is in the informal <br />sector of economy. Small entrepreneurs can also be identified as <br />one of their target market.<br />Behavior<br />Needs Medicine but is incapable of buying the branded<br />ones.<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  8. 8. 8<br />Template<br />Step 2: PTM’s needs, wants and demands<br />I need cheaper medicine with the same quality <br />Of branded equivalents<br />I want cheaper medicine to keep me<br />Healthy all the time but can’t afford <br />too much<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  9. 9. 9<br />Template<br />Step 2: PTM’s needs, wants and demands<br />Needs: The lower income class Filipinos need to have a cheaper medicine with the same quality of the branded equivalent to address their economic issues.<br />Wants: The lower income class Filipinos prefers The Generics Pharmacy because it is practical, effective and can be purchased at lower cost. <br />Demands:The lower income class Filipinos demand to have a cheaper medicine that has the same quality and value compared to its branded counterparts. <br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  10. 10. 10<br />Template<br />Step 3a: Direct and Indirect Competitors<br />Direct Indirect<br />Doctor’s Prescribed Medicines<br />Variables: Price, Economic Status, Behavior, Lifestyle, Availability, Accessibility<br />Local Pharmacy<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  11. 11. 11<br />Template<br />The Generics Pharmacy is niche premium product for cheaper medicines<br />Price vs. Economic Status<br />Med Prescribed<br />Watsons<br />Mercury Drug<br />The Generics Pharmacy<br />South Star Drug Store<br />Local Pharmacy<br />Botikangbayan<br />Alternative medicine<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  12. 12. http://myrtlefrantilla.blogspot.com/<br />12<br />Template<br />The Generics Pharmacy niche <br />positioning to the lower income class as best alternative to branded medicine.<br />http://myrtlefrantilla.blogspot.com/<br />
  13. 13. 13<br />Template<br />Step 4: identify the Gaps between the customers and consumers.<br /><ul><li>The Leading Pharmacy that offers cheaper generic medicine to lower income class Filipinos while offering the same quality of branded meds.
  14. 14. Affordable and BFAD approved medicines.
  15. 15. Other Value Added Services are being offered
  16. 16. Very accessible to the masses with 1225 branches nationwide.
  17. 17. Cheaper Medicine Bill paved the way to higher sales of The Generics Pharmacy but critics question the quality of Generic medicine.</li></ul>http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  18. 18. 14<br />Template<br />Positioning: Brand Identity to the Maker<br /><ul><li>Basta Generics, Mabisana, Matipid pa.</li></ul>Affordable But Effective medicine for the Filipino masses.<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  19. 19. 15<br />Template<br />Step 5. Estimate the Market Size<br /><ul><li>The Philippinse pharmaceutical market is valued at $960 million in 2001.
  20. 20. Approximately 69 percent of market is controlled by the multinational companies (MNC’s), whilst the remaining 31 percent belongs to the generic companies. </li></ul>http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  21. 21. 16<br />Template<br />Step 5a. Estimate the Market Size Using Competitors’ data<br />Mercury Drug Store<br />Sales: PHP 48 billion est. <br /><ul><li>operates a national chain of more than 800 drugstores, including company-owned and franchised stores
  22. 22. estimated to sell as much as 60 percent of all medicines sold each year in the Philippines (the country's hospitals sell about 12 percent of medicines)
  23. 23. it follows the American model, combining drug and medical equipment sales with over-the-counter medicines, personal care items, basic household needs, cosmetics and other beauty products</li></ul>http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  24. 24. 17<br />Template<br />Step 5a. Estimate the Market Size Using Competitors’ data<br />South Star Drugstore<br />143 branches in Northern LuzonCentral Luzon, Southern Tagalog, Metro Manila and the Bicol Region<br />Watsons Pharmacy<br /><ul><li>Asian drugstore franchised by SM Prime Holdings Inc., in which has at least one branch in all 40 SM Supermalls nationwide
  25. 25. Operates 170 stores in the Philippines serving more than 100,000 customers per day. </li></ul>http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  26. 26. 18<br />Template<br />Step 5a. Estimate the Market Size Using Competitors’ data<br />References<br />http://www.watsons.com.ph/web/ph/aboutus<br />http://www.answers.com/topic/mercury-drug<br />http://services.inquirer.net/print/print.php?article_id=79284<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  27. 27. 19<br />Template<br />Step 5b. Estimate the Market Size Using Company’s data<br /><ul><li>The company recorded impressive growth, expanding from one store in 2007, to more than 900 in 2010.
  28. 28. With a forecast of 1,000 stores by the end of 2010, The Generics Pharmacy is now the chain with the highest number of outlets, overtaking the market leader Mercury Drug.
  29. 29. In 2011, TGP has 1225 branches nationwide. </li></ul>http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  30. 30. 20<br />Template<br />Step 5c. Estimate the Market Size Using Customer data<br /><ul><li>I buy medicine in order to cure myself" (33%)
  31. 31. I couldn't afford it" (24%)</li></ul>http://www.sws.org.ph/pr20100916.htm<br />On type of medicine consumers usually buy<br /><ul><li>48% said generic medicine
  32. 32. 33% branded medicine
  33. 33. 19% said both generic and branded.
  34. 34. http://www.sws.org.ph/pr103003.htm</li></ul>http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  35. 35. http://myrtlefrantilla.blogspot.com/<br />21<br />Template<br />Step 6. The Generics Pharmacy vs. Competitors<br />http://myrtlefrantilla.blogspot.com/<br />
  36. 36. 22<br />Template<br />Step 6a. The Generics Pharmacy vs. Competitors<br /><ul><li>stocking decisions are based on the profit margin, product range and image. Mercury only keeps 3 brands for each generic formulation.</li></ul>http://pharmalicensing.com/public/articles/view/1048501737_3e7edde98a0cf/the-generic-invasion-an-inside-scoop-to-the-pot-of-gold<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  37. 37. 23<br />Template<br />Step 6b. What makes The Generics Pharmacy different among its competitors?<br />We believe that health is not a privilege, but a basic right of every Filipino.<br /><ul><li>Safe, quality, and affordable generics medicines are the company’s promise.
  38. 38. Currently it has 1225 branches nationwide versus 800 Mercury Drugstore branches which makes it more accessible to people
  39. 39. It is strategically situated in Rural areas and places near market and hospitals
  40. 40. It also the first generics retail pharmacy to offer franchising in the Philippines.</li></ul>http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  41. 41. 24<br />Template<br />Step 6b. What makes The Generics Pharmacy different among its competitors?<br />THEGENERICSPHARMACYhas an advocacy of making medicines accessible to ALL Filipinos, coupled with free blood pressure check-up and full 20% discount in all branches.<br />http://www.thegenericspharmacy.com/about.php<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  42. 42. 25<br />Template<br />Step 7. Generics Medicine is cheaper by an average of 54.04%<br />http://fitzvillafuerte.com/generic-medicines-a-comparative-price-study-on-generic-cholesterol-and-other-maintenance-medicines.html<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  43. 43. 26<br />Template<br />Step 7. Generics Medicine is cheaper by an average of 54.04%<br /><ul><li>consumers can basically save up to 70% by purchasing generic medicines. </li></ul>http://fitzvillafuerte.com/generic-medicines-a-comparative-price-study-on-generic-cholesterol-and-other-maintenance-medicines.html<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  44. 44. 27<br />Template<br />Step 8. Which of these modes does TGP use?<br />MASS PERSONAL<br />Sales Promotion Direct Marketing<br />1. Advertising Interactive Marketing<br />Public Relations Personal Selling<br />2. Events and Experiences3. Word of Mouth <br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  45. 45. http://myrtlefrantilla.blogspot.com/<br />28<br />Template<br />Step 8a. TV ads always appeal to an average Filipino Family<br />http://myrtlefrantilla.blogspot.com/<br />
  46. 46. 29<br />Template<br />Step 8a. TGP promotes through its Value Added Services<br />24k cardholders will enjoy more benefits through CebuanaLhuillier’s partnership with The Generics Pharmacy (TGP). Cash coupons may now be used at any Metro Manila branch of TGP.<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  47. 47. http://myrtlefrantilla.blogspot.com/<br />30<br />Template<br />Step 8b. Mercury Drug Promotions<br />http://myrtlefrantilla.blogspot.com/<br />
  48. 48. http://myrtlefrantilla.blogspot.com/<br />31<br />Template<br />Step 8b. Watsons Pharmacy Promotions<br />http://myrtlefrantilla.blogspot.com/<br />
  49. 49. http://myrtlefrantilla.blogspot.com/<br />32<br />Template<br />Step 8b. South Star Drugstore Promotions<br />http://myrtlefrantilla.blogspot.com/<br />
  50. 50. 33<br />Template<br />Step 9. Where is TGP available?<br /><ul><li>Nationwide with 1225 branches as of June 2011
  51. 51. Outlets near market and public hospitals
  52. 52. Online (website)
  53. 53. Phone orders</li></ul>http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  54. 54. http://myrtlefrantilla.blogspot.com/<br />34<br />Template<br />Step 9. Where is TGP available?<br />http://myrtlefrantilla.blogspot.com/<br />
  55. 55. 35<br />Template<br />Step 10. TGP is the niche leader in Generic medicine Retailing. <br /><ul><li>Its advocacy is to make medicines accessible to ALL Filipinos, coupled with free blood pressure check-up and full 20% discount in all branches.
  56. 56. BFAD approved, TGP is safe, high quality, and affordable generics medicine.
  57. 57. It caters to the larger percentage of population in the Philippines, the masses.</li></ul>http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  58. 58. http://myrtlefrantilla.blogspot.com/<br />36<br />Template<br />SUMMARY<br />http://myrtlefrantilla.blogspot.com/<br />
  59. 59. 37<br />Template<br />Summary Headline<br />Social Class Lower B,C D Filipinos who need cheaper medicines but with same quality of their branded equivalent. It also targets small entrepreneurs who want to have their own businesses.<br />Needs medicine comparable to branded product in terms of dosage, strength and quality without having that are cheaper.<br />Competitors include Mercury Drug, South Star Drug, BotikangBayan, Watsons, home made medicine and other local pharmacy.<br />Competitors Sell branded/listed drugs with a higher retail price while Generics pharmacy offers generic drugs with same quality but sold at a lower retail price.<br />Market Size: 6 out of 10 Filipinos are now opting for generic medicines over the more expensive branded counterparts.<br /> (pinoybusiness.org, 2009)<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  60. 60. 38<br />Template<br />Summary Headline<br />Product: The Generics Pharmacy<br />7. Price: Lower price than the branded medicines <br />8. Promo: Advertising campaigns (print,tv,internet), current economic status, <br />9. Place: Total of 1225 branches as of June 09 2011<br />10. Generic winning strategy of Mix: Niche marketing, Cheaper drugs but with same quality, other services<br />http://myrtlefrantilla.blogspot.com/<br />http://myrtlefrantilla.blogspot.com/<br />
  61. 61. Template<br />10 Step Marketing PlanforThe Generics Pharmacy<br />Myrtle Frantilla<br />June 2011<br />http://myrtlefrantilla.blogspot.com/<br />39<br />

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