This document outlines the marketing plan for Biovit-M, a nutritional supplement brand, for 2010. It begins with an executive summary of the brand and market analysis including PEST, SWOT, competitor analysis, and market research. The research found an opportunity for growth in the nutritional supplements market. The plan defines the brand's vision as becoming the #1 beauty supplement brand by 2015. Key strategies include targeting consumers aged 18-40 through promotion to dermatologists, samples, and social media. Sales forecasts and budgets are provided with the goal of reaching 2.5 million in sales by 2010.
3. Executive Summary Biovit-M belongs to nutritional supplement market for healthy skin, nails & hairs. Biovit-M has a value 0.8M with 0.08% of market share of total market 987M which going by (2.62)% OLY. In this brand plan we see topic which includes PEST analysis, Market analysis, SWOT analysis, Competitor analysis, Porter’s analysis , Research, Brand objectives, & Market Strategies. The PEST tells us overall scenario is in favor because economic condition improving, as inflation rate is declining. SWOT help to identify area of product improvement. Market research identified the drop out Rx and market opportunity because only 8 % consumer using nutritional supplement because their doctor recommended it while 92 % market are opportunity. These analysis help to build Biovit-M of 2.5 M in 2010. The Market strategies to build & drive the brand is happen by identification of perceptual mapping which identified the actual area to play. This area back by Positioning, by positioning we will be focusing on target audience & customers; mainly both gender of 18-40 yr and dermatologist & G.Ps only in 1st year. This focusing is narrow because of initial phase of launch and we want to build heritage of brand infront of prescriber & user. So that separate identity of brand will develop. Promotion mix design accordingly to help on building brand. 3
18. SWOT Analysis Strength AluAlu packaging Sugar free Opportunities People are more conscious about their beauty. Vitamins supplement after registration should be treated as a OTC * Product Shortage of Epivite Single direct player Market growing with negative trend Weakness Large pack size Pack is not visible in shelf Threats Epivite have high SOV Top of mind recall among dermatologist High price than Epivite 7
19. SWOT Analysis of Epivite Strength Corporate image Highly skill sales team Strong penetration on derma segment Low price that Biovit-M Opportunities People are more conscious about their beauty. Vitamins supplement after registration should be treated as a OTC * Unavailability of Biovit-M Only single direct player Market growing with negative trend Weakness No sugar free Bottle pack Focus only for skin Negative market growth of Epivite Threats Sugar free Biovit-M Emphasis on beauty nutritional supplement 8
26. Research on Vitamins & Mineral Usage.. 40% of consumers surveyed in a major global study claim to use Vitamins & Dietary Supplement products but less that 60% of these are regular daily users. The survey, undertaken online across 52 countries by market research business 12
27. Research on Vitamins & Mineral Usage The role of healthcare professionals in driving usage of Vitamins & Dietary Supplements is relatively low, certainly compared to levels identified in previous Nielsen surveys exploring over-the-counter (OTC) medicines. The level of usage as a result of advice from a doctor or healthcare professional is also relatively low, with only 18% of users claiming to be doing so because of this advice. However, the influence of the doctor is high in a number of countries, especially India, Pakistan, Egypt, Israel, Argentina, Mexico and four European countries (France, Belgium, Italy & Spain). 13
29. Brand Vision To make Biovit-M as no.1 brand in beauty nutritional supplement market by 2015. To establish Biovit-M as product of choice for Skin, Hair, and Nail nutritional supplement. 15
30. Objectives Qualitative To Build brand image To build Biovit-M as first line beauty nutritional supplement in skin, hair, & nail by expand market and gain market share Quantitative Till Dec 2010, we make Biovit-M a product of 2.5 million. 16
41. Promotion Strategies Personal selling Sales promotion Push strategy Demand Demand Consumer engagement & awareness program e.g. through PEBs & community ads Pull strategy 27
42. Personal selling Face to face detailing Sales promotion By promotional input Samples Public relation Articles; Role of vitamins & minerals in Beauty Web-blog Advertisement Facebook Promotion Mix Strategies 28
43. Sales Strategy Focusing on non-user & intermittent user by transferring feature into benefits Increase share of voice by reach & coverage 29
46. Promotional Support PGI (Promotional Gift Items) Mount Blanc pen Table stationary box Promotional Items Wall mounts for general public Literature (PDA/LA) Public Awareness Public education booklet by highlighting how to nourish skin, nail, & hair and why nutritional supplement important. Develop face book community campaign with slogan of Beauty Matter’s by targeting female of 18-40 year of age Advertisement in Beauty Magazines 32
Made by; Syed Zeeshan Ashraf, 9120Sr. Product Specialist-VaccinesGSK
https://www.cia.gov/library/publications/the-world-factbook/geos/pk.html Inflation: 14.2% est. by 2009GDP real growth rate: 2.7% est. by 2009
*Recommendation proposed by MOH on 11 April 2009
VM S: Vitamins, Mineral supplementsNew Cheaper 5 VMS
WHO--Need nutritional supplement for beautiful skin, nail, & hairWHY---It nourish your skin, nail, & hair by helping to restore your beautyBeauty Matter’s, a brand essence
Brown color: Informal & relaxed, Masculine, Nature, CoolTaken from Brand Personality frame work of Consumer Behavior P:154Wholesome: promoting or conducive to good health or well-being
Launch just 9 month ago
Registered dermatologist in Pakistan : 2000; http://www.dailytimes.com.pk/default.asp?page=2007%5C11%5C04%5Cstory_4-11-2007_pg7_16Registered G.Ps in Pakistan: 116728
In 1st year we more focused on push strategy while on coming year we focused on pull strategy as well.Sales promotion
In Pakistan 2000 Dermatologist,5000 Pediatrician & 116728 G.Ps
* These prices are assumption but near by actual.1. Akhbar-e-Jahan (2 spot at Sep) 2. Family Magazine (1 spot at Nov)3. Herald (1 at spot at Dec)