CROCIN PAIN RELIEF V/S COMBIFLAM PLUS.
MACRO FACTORS IMPACTING MARKET
PERFORMANCE OF THE INDIVIDUAL MARKET
ATTRACTIVENESS AND COMPETITIVENESS
TARGET CUSTOMER AND THEIR SPECIFIC NEEDS
PRICE AND NON PRICE FACTORS
INSIGHTS DEVELOPED
ACTION OF BRAND MANAGER
LEARNING DRIVE
LESSON LEARNT
Crocin (Generic Acetaminophen Tablets) temporarily relieves minor aches and pains due to headache, muscular aches, backache, minor pain of arthritis, the common cold, toothache and premenstrual and menstrual cramps.
This medicine also temporarily reduces fever.
Crocin (Generic Acetaminophen Tablets) temporarily relieves minor aches and pains due to headache, muscular aches, backache, minor pain of arthritis, the common cold, toothache and premenstrual and menstrual cramps.
This medicine also temporarily reduces fever.
Birth control pills (oral contraceptives) are prescription medications that prevent pregnancy.
Birth control (contraceptive) medications contain hormones (estrogen and progesterone, or progesterone alone).
The Brand Plan unites functions such as marketing, sales, and product development outlining what each group needs to do for the brand to be successful while setting goals that operations and finance need to support.
Birth control pills (oral contraceptives) are prescription medications that prevent pregnancy.
Birth control (contraceptive) medications contain hormones (estrogen and progesterone, or progesterone alone).
The Brand Plan unites functions such as marketing, sales, and product development outlining what each group needs to do for the brand to be successful while setting goals that operations and finance need to support.
China’s influencer marketing industry is well ahead of the rest of the world. The
advanced functionality and integration of social media, e-commerce and mobile
payments has enabled the Chinese KOL and KOC economy to grow at a pace not
seen anywhere else in the world. This growth has been accelerated by the Covid-19
pandemic and the consequent prevention measures that included closing physical
stores, dining in, in-person events and sporadic district lockdowns. These measures
have led to a significant increase in the amount of time Chinese consumers spend
on the internet. In fact, the average Chinese consumer today spends over seven
hours a day on the internet . About two-thirds of those seven hours is spent using
social or content apps, as users increasingly seek information about the world
around them through social media, influencers and friends to help make purchase
decisions.
PJdaren’s preliminary estimates suggest that from September 2021 to October 2022
there were more than 10.1 million KOLs and KOCs across China’s social media
ecosystem with a fan base of over 10,000 followers – a figure larger than anything
seen elsewhere in the world. China’s influencers published an average of 38.3 million
posts on a daily basis.
PJDAREN INSIGHTS 4
CHINA’S INFLUENCER MARKETING INDUSTRY
Introduction
According to the National
Bureau of Statistics, China’s
influencer economy grew
from CN¥241.9 billion (US$
38.5 billion) in 2018 to CN¥1.3
trillion (US$210 billion) in 2020.
It is estimated that by the
year 2025, the total market
size of China’s influencer
economy will reach CN¥6.7
trillion (US$1.035 trillion).
Running head PharmaSim Final Report1PHARMASIM FINAL REPORT.docxjeanettehully
Running head: PharmaSim Final Report 1
PHARMASIM FINAL REPORT 2
PharmaSim Final Report
Group E
Lynsie Cahela
Lorenzo Gibbs
Alan J. Hasfjord
Summar Hudson
Saint Leo University
MKT 565: Marketing
Professor Dr. Stephen L. Baglione, Ph.D.
October 8, 2017
Table of Contents
Introduction 3
Pricing 5
Advertising 6
Promotions 9
Sales Force Allocation 11
Segmentation 12
Line Extensions 13
Cumulative Net Income and Stock Prices through Each Period 13
Conclusion 14
Appendix 1: Initial Strategy Report 15
Appendix 2: Average Retail Price in Relation to Net Income 21
Appendix 3: Average Discount and its Effects on Unit Sales 22
Appendix 4: Sales Force Allocations and its Effects on Unit Sales Per Channel 23
Appendix 5: Market Share Based on Retail Sales 25
Appendix 6: Promotional Expenditure and its Effects on Brand Awareness 26
Appendix 7: Advertising Expenditures and its Effects on Unit Sales 27
PharmaSim Final Report
Introduction
In the OTC pharmaceutical market, Allstar brand offers the 4-hour liquid cold medicine, Allround. Initial research suggested the potential of marketing to two distinct groups. The first group is customers in the cold & flu market. As Allround already had a substantial following in this market with 22.6% of the market share and brand recognition at 74.1%, it seemed logical to continue pursuing this market. Conversely, the customer base in the allergy market was negligible, accounting for only 2.3% of the brand’s sales. Given this data, the team chose to aggressively pursue the cold & flu market and accept residual sales in the allergy market, if any, without focused targeting in the allergy market.
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At the onset of the simulation, Allround was the only offering with an analgesic, antihistamine, cough suppressant, decongestant, and alcohol in its formula. Recognizing this difference, and the negative sentiment regarding alcohol and multi-symptom treatments, the team chose to pursue a strategy that would highlight the benefits of the multiple ingredients and mitigate the views regarding undesirable side effects.
Initial research indicated that grocery stores, chain drug stores, and wholesale markets were the most lucrative channels. To capitalize on the strength of sales in these channels, the team developed its strategy to increase sales in these venues by offering higher volum ...
The Digital Future: a game plan for consumer packaged-goodsAidelisa Gutierrez
The CPG industry is fast approaching a tipping point;
companies need to plan for a “1-5-10” market in the U.S.
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2. gg
ENVIRONMENTAL
SOCIAL LEGAL
TECHNOLOGICAL
Specific Macro Factors Impacting Market
• Supply chain
disruption
• Crocin: Brand was
acquired in order to
safeguarded the
position of Calpol
• Combiflam: Convey
that ‘Combiflam plus
understands your
pain’
• Combiflam: CDSCO
found it to be of
substandard
quality
• Crocin:
Paracetamol
comes under
NLEM, 2013, and is
under price control
• Combiflam:
Digital campaign
#Lockdownwalilife
• Crocin: Direct
advertising
3. PERFORMANCE OF
THE INDIVIDUAL
SEGMENTS:
GSK(Crocin)
is 5th largest
player in
OTC
segment
Analgesics has major share among OTC
drugs
Revenue amounts to US$738.38m in 2020.
Expected to grow annually by 9.5%
(CAGR 2020-2025)
MARKET
Trends:
Crocin has
entered
Maturity
Stage with
sales falling
Crocin (including suspensions
and tablets of various dosages)
saw sales slip from Rs 31.5
crore in FY18 to Rs 29.3 crore
in FY19, according to data from
market research firm AIOCD
AWACS
Crocin has a share of 18%
in a market that has many
nationally distributed
brands and a plethora of
local brands
Combiflam:
According to
QuintilesIMS, a
technology-driven
healthcare service
provider, the annual
sales of Combiflam is
of Rs 169.2 crore. Source: Statista
4. Over 200
paracetamol
brands are sold
in India
Competitiveness
from alternative
and home
remedies
Other allopathic
medicnes:
Calpol, Coldrex,
Dolo, Dyspirin
COMPETITIVENESS
OTC:
• Easily approachable catering
maximum population
• Cost effective and time
saving
OTC ANALGESIC:
• Most preferred for
headaches and pain relief
Attractiveness of the
Segment
5. Target Customers And Their Specific Needs
• Target group is the large masses with symptomatic relief from mild to moderate
pain in conditions like headache, migraine, muscle pain and in backache, tooth
pain and other musculoskeletal pain (body pain).
• Recommended for adults and not for children below 12 years of age.
• People under some sort of medication related to a cardiovascular disease are
prohibited to use these medications.
Specific Needs:
• Least to no side effect
• Economical and Cost Effective
• Caters to wide range of people with very less/no side effects
6. The factors driving the market include
• Change in the sedentary lifestyle
• Rise in the Preventive Healthcare
• Rising Patient Awareness
Market Leverage
• Digitalization is the next big thing
• Increase in online seminars, e-detailing resulting in increase in brand recall.
• Advertisements making the product more relevant and reach out to maximum
customers.
• Social Media presence.
7. Differentiating factors between
Combiflam Plus and Crocin Pain Relief
Both of these drugs have
exactly the same
composition in same
amounts, same dosage and
are targeted for treating
similar symptoms.
Sale of Crocin pain relief
is more than that of
Combiflam plus.
The main difference is in
price and packaging.
Crocin is more than 40
years old as compared to
25 years of Combiflam.
Different manufacturers.
Advertising frequency of
crocin is more than
Combiflam.
8. Price
and
Non-Price
Factors of
Brands in
Questions
• Competitive price
• Actual price
• Discounts
Price factors
• Distribution channel
• Channel length
• Promotional level and channels
• Advertising intensity
Non-Price factors
9. Insights
Developed
It is very important to understand macro factors
related to the product.
Product targeting, positioning and segmentation is
extremely important for any product.
Differentiating factors between your product and
competitors must be known.
Brand image is very important factor for determining
sales.
In OTC segment, marketing is very important and can
change the market share of your product.
Price and Non-Price factors, both play important role
in the overall product lifecycle.
10. Brand
Manager can
take
following
actions for
Success
Monitoring
and analysing
the
competitor’s
activity.
Deep
penetration.
Consumer
experience
stories.
Strong grasp
on current
market
trends.
Focus highly
on
campaigning.
• Focus on medical practitioner
• Activities to improve loyaltyCrocin Pain Relief
• Increase the advertising strategy to
recall brand
• Attractive packaging
Combiflam Plus
11. Learning Drive
In our Professional Journey Brand growth in future
Interpretation of market
share
OTC market trends
Determination of factors
contributed to
success/failure of the
implemented strategies
Competitive marketing
Customer & competitor
analysis
Get to know the
customers
STP proper use Campaign
Offer great
customer service
Nurture existing
customers and
look for new
opportunities
Attend networking
events
Host events Use social media
12. Lesson learnt so far
MARKETING
STRATEGIES
TRENDS OF
OTC
SEGMENT
MARKET OF
ANALGESICS
COMPETITORS
KNOWLEDGE
COMPETITIVE
MARKETING
IMPLEMENTATION
OF PESTEL ANALYSIS
VALUE OF
CAMPAIGN