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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

ASMPH Class 2012 Marketing under Professor Barrenechea

Published in: Health & Medicine
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10-Step Marketing Plan RiteMed Metformin HCl TanJM

  1. 1. JOSE MARIANO TAN 29 NOVEMBER 2010 10-STEP MARKETING PLAN FOR Metformin HCl ®
  2. 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. 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. 4. Positioning to the Primary Target Market Part 1: Step 1 of 5
  5. 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. 6. Primary Target Market   Consumption Behavior:   500 mg Tablet   2x/day  Regular Hospital Monitoring   Multiple Medications  Lifestyle Changes
  7. 7. Needs Wants and Expectations of Target Market Part 1: Step 2 of 5
  8. 8. Needs, Wants and Expectations   Maslow’s Hierarchy of Needs Good Health Realization of Goals
  9. 9. Needs, Wants and Expectations   Developmental Stages of Erik Erikson
  10. 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. 11. Needs, Wants and Expectations   Maslow’s Hierarchy of Needs Good Health Realization of Goals Generativity!
  12. 12. Needs, Wants and Expectations   Wants:   Quality Assurance   Efficacy   Low-Cost   Limited Side Effects
  13. 13. Needs, Wants and Expectations   Expectations:   Decrease Blood Sugar Level   Good Glycemic Control   Controlled Side Effects   No Disease Progression   Generics Price Range
  14. 14. Direct and Indirect Competitors Part 1: Step 3 of 5
  15. 15. Competitors   Boie   Britton   Health Saver   Littman   Metro Drug   Metrolink Pharm   Natrapharm   NextChem   Pharma Nutria   Sanofi-Aventis   Unilab   Winthrop   Zuellig   Direct Competitors (Branded):
  16. 16. Competitors   The Generics Pharmacy   Generika   Direct Competitors (Generic):
  17. 17. Competitors   Indirect Competitors:   Exercise   Diet   Insulin   Insulin Secretagogues   Thiazolidinediones   Alpha-glucosidase Inhibitors   Incretin-based Treatments   Amylin Analog
  18. 18. Competitors   Variables:   Efficacy:   Glycemic Reduction   Glycemic Control   Reduction of DM Sequelae   Safety:   Minimal Side Effects
  19. 19. Competitors   Variables:   Price   Ease of Treatment   Brand Perception   Name Recall   Physician Prescription Practice   Accessibility   Availability
  20. 20. Competitive Position Map: Price-Brand Recall for Quality Matrix Low Medium High > P8.51 P7.25-P8.50 P5.76-P7.00 P4.51-P5.75 P3.25-P4.50 < P3.25 Unilab + RiteMed Zuellig Brand Recall: Quality Boie Metro DrugNextChem Pharma Nutria Winthrop Britton PriceperUnit Natrapharm Littman Generika The Generics Pharmacy
  21. 21. Competitive Position Map: Price-Brand Recall for Quality Matrix Low Medium High > P8.51 P7.25-P8.50 P5.76-P7.00 P4.51-P5.75 P3.25-P4.50 < P3.25 Unilab + RiteMed Zuellig Brand Recall: Quality Boie Metro DrugNextChem Pharma Nutria Winthrop Britton PriceperUnit Natrapharm Littman Generika The Generics Pharmacy Niche as Quality Low- Cost Drug!
  22. 22. Customer-Competition Gap Demand-Supply Gap Part 1: Step 4 of 5
  23. 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. 24. Market Size Part 1: Step 5 of 5
  25. 25. Market Size (DOH Data & Journals)   3.4 Million Filipinos with Diabetes   94% Class C-E
  26. 26. Oral Anti-Diabetic Consumption 2007
  27. 27. Market Size (DOH Data & Journals)   3.4 Million Filipinos with Diabetes   94% Class C-E   31% Prescribed Metformin
  28. 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. 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/Day Market Size: PhP 1.2 Billion
  30. 30. Market Size (Business Monitor International Data)
  31. 31. Market Size (Business Monitor 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
  32. 32. Market Size   Local Data: PhP1.2 Billion   International Data: PhP1.08 Billion Market Size: PhP1-1.2 Billion
  33. 33. Marketing Mix Strategy Part 2: Steps 6 to 10
  34. 34. Product Part 2: Steps 6 of 10
  35. 35. Metformin HCl Tablet Leaders
  36. 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. 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. 38. Price Part 2: Steps 7 of 10
  39. 39. Price   500 mg Tablet: PhP3.15   Cheapest Drug in the Market   43.7% Cheaper than Industry Average!
  40. 40. Promotion Part 2: Steps 8 of 10
  41. 41. Promotion (Present Strategies)   Advertising: Television and Radio   Public Relations: Corporate Social Responsibility   Direct Marketing: Sales Representatives
  42. 42. Promotion (Present Strategies) RiteMed manufactures and markets off-patent pharmaceuticals priced 20 to 80 percent lower than equivalent branded drugs.
  43. 43. Promotion (Present Strategies)
  44. 44. Promotion (Present Strategies) http://www.youtube.com/watch?v=n1LHtncXXPA&feature=related
  45. 45. Promotion (Present Strategies) http://www.youtube.com/watch?v=NtVAuZSUjmY&feature=related
  46. 46. Promotion (Present Strategies)
  47. 47. Promotion (Present Strategies) Sales Representatives
  48. 48. Promotion (Proposal) +
  49. 49. Promotion(Proposal) SourceofIdea
  50. 50. Promotion (Proposal) Unilab Yan! Unilab Guarantee Seal
  51. 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. 52. Competitor Promotions   Leading Pharmaceuticals with NO Metformin Products:   Pfizer Inc   Wyeth Philippines   AstraZeneca   Bristol-Myers Squib   Novartis   Abott Lab   Roche Philippines
  53. 53. Competitors   Boie   Britton   Health Saver   Littman   Metro Drug   Metrolink Pharm   Natrapharm   NextChem   Pharma Nutria   Sanofi-Aventis   Unilab   Winthrop   Zuellig   Direct Competitors (Branded):
  54. 54. Competitors   No Broadcast Media Advertisement   Reliance on:   Sales Representatives   Product Samples   Product Peripherals   Sponsorship Programs   Events   Purchases Direct Competitors (Branded):
  55. 55. Competitors   The Generics Pharmacy   Generika   Direct Competitors (Generic): http://www.youtube.com/watch?v=OGufEVhhf3Y&feature=related http://www.youtube.com/watch?v=Z2ocsYU2i-s&feature=player_embedded
  56. 56. Place Part 2: Steps 9 of 10
  57. 57. Place   RiteMed is available in all Major Pharmacies Nationwide: Using logistical leverage of Unilab!
  58. 58. Generic Winning Strategy Part 2: Steps 10 of 10
  59. 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. 60. Summary
  61. 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. 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)

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