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The document discusses marketing strategies for different stages of a product's life cycle and the growth of the pharmacy industry in India. It describes the introduction, growth, maturity, and declining stages of the product life cycle. For each stage, it provides examples of marketing strategies like pricing, promotion, and distribution techniques. It also outlines the increasing market value and export value of the Indian pharmacy industry in recent years and some of the major pharmaceutical companies in India.
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Marketing Management - Product Life Cycle
Every product goes through a life cycle from development to decline. There are typically five stages: product development, introduction, growth, maturity, and decline. Each stage is characterized by different levels of sales, costs, profits, and competition. Companies employ different marketing strategies such as pricing, distribution, advertising, and promotions during each stage to successfully manage their products through the life cycle.
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Product Life Cycle
Product Life Cycle (PLC) describes the stages through which all products pass from introduction to decline. The major stages are introduction, growth, maturity, and decline. The length of each stage can vary significantly between products.
Marketing strategies must change according to the stage of the PLC. In introduction, strategies focus on price and promotion to gain awareness. In growth, strategies aim to sustain market expansion. In maturity, strategies involve product improvements and market modifications to compete intensely. In decline, strategies assess whether to continue, improve, or drop underperforming products. PLC analysis helps businesses plan effectively for changes over a product's lifetime.
PRODUCT MANAGEMENT & PRODUCT LIFE CYCLE
THIS DESCRIBES THE CONCEPT OF A PRODUCT AND PRODUCT LIFE CYCLE AND ITS VARIOUS STAGES IN DETAILS.IT WILL GIVE A COMPLETE KNOWLEDGE OF PRODUCT LIFE CYCLE.
Presentasi product life cycle
The document discusses the product life cycle model, which describes the stages through which products typically pass from introduction to decline. It outlines the four main stages: introduction, growth, maturity, and decline. Each stage presents different challenges and opportunities for product marketing, pricing, distribution, and finances. The introduction stage focuses on promotion to raise awareness. Growth involves expanding market share. Maturity sees increasing competition and price wars. Decline requires cost control and withdrawing weak variations. The concept helps understand competition dynamics over a product's lifetime.
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This document presents information about Eggs ltd, including a skit performed at a college seminar. It lists 5 partners and discusses the product life cycle stages of introduction, growth, maturity, saturation, decline, and abandonment. Key points are made about sales, profits, costs, competition, and strategies at each stage.
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The document discusses the product life cycle (PLC) and strategies companies use at each stage. It notes that products pass through distinct stages of introduction, growth, maturity, and decline. During introduction, strategies focus on creating awareness and trial with high promotion at a premium price. Growth focuses on market share gains through distribution expansion, promotions, and price reductions. Maturity aims to maximize profits through diversification while defending market share. Decline entails cost cutting and milking remaining brand value. Strategies may also include market, product, or marketing program modifications to change a brand's course.
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This document outlines the new product development process and product lifecycle. It discusses how companies generate new product ideas, the major steps in development including idea generation, screening, testing, and commercialization. It then describes the stages a product goes through - introduction, growth, maturity, and decline. Finally, it explains how marketing strategies must change during each stage of the lifecycle.
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Marketing Management - Product Life Cycle
Every product goes through a life cycle from development to decline. There are typically five stages: product development, introduction, growth, maturity, and decline. Each stage is characterized by different levels of sales, costs, profits, and competition. Companies employ different marketing strategies such as pricing, distribution, advertising, and promotions during each stage to successfully manage their products through the life cycle.
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This document discusses new product development and the product lifecycle. It outlines the 8 steps of new product development as idea generation, screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization. It then describes the 4 stages of the product lifecycle as introduction, growth, maturity, and decline. In each stage, it discusses characteristics like sales trends, competition levels, and appropriate marketing strategies.
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Product Life Cycle (PLC) describes the stages through which all products pass from introduction to decline. The major stages are introduction, growth, maturity, and decline. The length of each stage can vary significantly between products.
Marketing strategies must change according to the stage of the PLC. In introduction, strategies focus on price and promotion to gain awareness. In growth, strategies aim to sustain market expansion. In maturity, strategies involve product improvements and market modifications to compete intensely. In decline, strategies assess whether to continue, improve, or drop underperforming products. PLC analysis helps businesses plan effectively for changes over a product's lifetime.
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The document discusses the product life cycle model, which describes the stages through which products typically pass from introduction to decline. It outlines the four main stages: introduction, growth, maturity, and decline. Each stage presents different challenges and opportunities for product marketing, pricing, distribution, and finances. The introduction stage focuses on promotion to raise awareness. Growth involves expanding market share. Maturity sees increasing competition and price wars. Decline requires cost control and withdrawing weak variations. The concept helps understand competition dynamics over a product's lifetime.
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This document presents information about Eggs ltd, including a skit performed at a college seminar. It lists 5 partners and discusses the product life cycle stages of introduction, growth, maturity, saturation, decline, and abandonment. Key points are made about sales, profits, costs, competition, and strategies at each stage.
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The document discusses the product life cycle (PLC) and strategies companies use at each stage. It notes that products pass through distinct stages of introduction, growth, maturity, and decline. During introduction, strategies focus on creating awareness and trial with high promotion at a premium price. Growth focuses on market share gains through distribution expansion, promotions, and price reductions. Maturity aims to maximize profits through diversification while defending market share. Decline entails cost cutting and milking remaining brand value. Strategies may also include market, product, or marketing program modifications to change a brand's course.
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The document discusses new product development and the product life cycle. It describes the 8 stages of new product development as idea generation, screening, concept development, marketing strategy development, business analysis, product development, test marketing, and commercialization. It also outlines the 5 stages of the product life cycle as development, introduction, growth, maturity, and decline. Finally, it explains how marketing strategies must change during each stage of the product life cycle.
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2. It outlines the new product development process which involves idea generation, concept development and testing, marketing strategy development, and commercialization.
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The document discusses the stages of a product's life cycle: development, introduction, growth, maturity, saturation, and decline. It explains the key characteristics and marketing challenges of each stage. For example, in development costs are incurred creating prototypes, introduction involves promotional strategies to create awareness, and maturity is when sales plateau providing a stable income. The document also covers strategies to extend product life cycles like new target markets or components when facing saturation or decline.
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The document summarizes the product life cycle stages of introduction, growth, maturity, and decline. It describes how the marketing mix of product, price, promotion, and place changes throughout each stage. During introduction, the product has limited availability and higher prices. Growth involves more widespread distribution and promotional activities to increase sales. Maturity is the most profitable stage where distribution is broad and promotions remind customers. In decline, prices are reduced to clear remaining stock before withdrawing the product. Extending the life cycle involves selling mature domestic products to new international markets to continue sales without additional research costs.
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The document discusses product life cycles and strategies. It describes the four stages of a product life cycle as introduction, growth, maturity, and decline. Marketing strategies are outlined for each stage, such as using rapid skimming or penetration pricing during introduction, improving the product and distribution during growth, market and product modification during maturity, and reducing promotional spending during decline. The Ansoff matrix and new product development process are also summarized.
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The document discusses various topics related to products and services, including:
1. It defines what constitutes a product and different types of products such as consumer goods, industrial goods, durable goods, and nondurable goods.
2. It outlines the new product development process which involves idea generation, concept development and testing, marketing strategy development, and commercialization.
3. It describes the product life cycle which consists of introduction, growth, maturity, and decline stages.
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1) The document discusses new product development strategies and the product life cycle. It describes the stages of new product development as idea generation, screening, concept development, marketing strategy development, business analysis, product development, test marketing, and commercialization.
2) It also outlines the five stages of the product life cycle as product development, introduction, growth, maturity, and decline. Marketing strategies are tailored to each stage, such as using early adopters and penetration pricing in growth.
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1. The document discusses new product development and the product life cycle. It outlines the stages of new product development which include idea generation, screening, concept development, marketing strategy development, business analysis, product development, test marketing and commercialization.
2. It also describes the five stages of the product life cycle as product development, introduction, growth, maturity and decline. Marketing strategies are tailored to each stage of the product life cycle.
3. The life cycle concept can be applied to products, product classes and brands. However, using it to forecast performance or develop strategies has limitations as not all products follow the same cycle.
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Regulatory affairs
This document provides an overview of drug regulatory affairs. It discusses the learning objectives which are to gain knowledge about regulatory processes, laws, and working within a regulatory environment. It defines regulatory affairs as the interface between pharmaceutical companies and drug authorities. The goal is to ensure safety, efficacy and quality of drugs. It discusses some drug tragedies in the past that led to the need for regulatory affairs and authorities like the FDA. Regulatory affairs professionals help companies work within this regulatory system and reduce development failures. Their role is to gather relevant information and assist companies on various regulatory issues from licensing to pharmacovigilance. Major global regulatory authorities are also named.
Regulatory affairs
This document provides an overview of drug regulatory affairs. It defines regulatory affairs as the profession that acts as the interface between pharmaceutical industries and drug regulatory authorities. The goal of regulatory affairs professionals is to protect human health by ensuring safety, efficacy and quality of drugs and ensuring accurate product information. It discusses why regulatory affairs is needed, highlighting past drug tragedies that led to increased regulation. Regulatory affairs helps reduce development failures and provides assistance on issues like licensing, registration, development, manufacturing and quality guidance.
Design and evaluation of bioequivalence
This document summarizes the key elements of designing and evaluating a bioequivalence study. It outlines the common study designs used in bioequivalence studies including two-period crossover, replicate crossover, and parallel group designs. It describes the objectives of establishing bioequivalence by comparing the pharmacokinetic parameters Cmax, Tmax, and AUC of a test and reference product. Statistical tests are used to analyze the data and determine if the 90% confidence interval of these parameters falls within the range of 80-125% to conclude bioequivalence. Important aspects like subject selection criteria, clinical procedures, and ethical review are also covered.
Measurements of bioavailability
This document discusses measurements of bioavailability. It defines bioavailability and bioequivalence. There are two main methods to measure bioavailability - pharmacokinetic and pharmacodynamic. Pharmacokinetic methods include plasma level time studies and urinary excretion studies which measure parameters like Cmax, Tmax, and AUC from plasma data or urinary excretion rate and amount excreted from urine data. Pharmacodynamic methods include measuring acute pharmacological responses or therapeutic responses but have disadvantages like variable individual responses.
Bioequivalance
This document defines bioavailability and bioequivalence. It discusses the history of bioavailability studies dating back to 1912. The objectives of bioavailability studies are to obtain evidence of therapeutic utility for new drugs, determine the influence of excipients and other factors on drug absorption, and compare availability between dosage forms and manufacturers. Bioavailability studies are significant for drugs with a low therapeutic index, those requiring certain peak blood levels, those absorbed by active transport, and formulations that modify drug release.
Factors influencing gi absorption of a drug new
This document discusses factors that influence the absorption of drugs in the gastrointestinal tract. It outlines various physicochemical and dosage form factors that can impact a drug's solubility, dissolution rate, and absorption. The key physicochemical factors discussed are drug solubility, particle size, polymorphism, salt form, and lipophilicity. Theories of drug dissolution like the diffusion layer model and Danckwert's model are also summarized. The principle of bioequivalence studies and factors like disease state, gastrointestinal contents, and presystemic metabolism that can influence drug absorption are briefly covered as well.
srija
This document discusses methods of production and new product development in the pharmaceutical industry. It describes three main methods of production: job production, batch production, and mass production. It also outlines the new product development process, which includes ideation, screening, design, testing, and launch phases. The goal of new product development is to fulfill customer demands and adapt to market changes through the systematic process of introducing new pharmaceutical products.
Salma
This document discusses fluorescence and fluorimetry. It begins with an introduction and overview of fluorescence as the emission of radiation when molecules are excited by radiation at certain wavelengths. It then discusses fluorimetry as the measurement of fluorescence intensity at a particular wavelength using a fluorimeter or spectrofluorimeter. Finally, it covers factors influencing fluorescence intensity, types of quenching, instrumentation components, and applications of fluorimetry in pharmaceutical analysis.
Archana edited 1
This document summarizes phase 1 reactions in drug metabolism. Phase 1 reactions include oxidative, reductive, and hydrolytic reactions. Oxidative reactions involve the oxidation of aromatic carbons, olefinic carbons, benzylic carbons, allylic carbons, carbon atoms to carbonyl/imine groups, aliphatic carbons, alicyclic carbons, and carbon-heteroatom systems. Reductive reactions include the reduction of aldehydes, ketones, nitro compounds, and azo compounds. Hydrolytic reactions involve ester and amide hydrolysis. The objectives of phase 1 reactions are to increase hydrophilicity, reduce stability, and facilitate conjugation in phase 2 reactions
Mounika
This document discusses different classes of antibiotics. It describes how antibiotics are classified based on their chemical structure, mechanism of action, and spectrum of activity. Specific types of antibiotics discussed include aminoglycosides, which act by inhibiting bacterial protein synthesis. Examples provided are streptomycin, gentamicin, and amikacin. Different generations of beta-lactam antibiotics like cephalosporins are also described in terms of their mechanisms of action, pharmacokinetics, adverse effects and therapeutic uses.
Channel distribution
Channels of distribution refer to the paths that products take from manufacturers to consumers. There are different types of channels including direct, indirect, and intensive channels. Factors like the nature of the product, costs, and competition influence the selection of appropriate channels of distribution.
Afreed
This document provides information about antibiotics, including penicillin and tetracycline. It classifies antibiotics based on their chemical structure, mechanism of action, spectrum of activity, and type of action. Penicillin is derived from the Penicillium mold and is commonly used to treat infections caused by gram-positive and gram-negative bacteria. Its structure contains a beta-lactam ring. Tetracycline was the result of screening soil specimens for antibiotic-producing microorganisms and is used to treat urinary tract infections and skin/soft tissue infections.
Ramya
Acceptance sampling is a statistical quality control technique used to inspect samples of a lot before or after production. It can be less time consuming and expensive than 100% inspection while still providing accurate results. There are different sampling plan types including single, double, and sequential sampling plans.
Social pharmacy is an interdisciplinary field that examines the role of medicines in society and considers social factors that influence drug use, development, and perceptions. Drug addiction can be defined as a complex state associated with habitual drug use where the person feels compelled to use the drug despite its harms.
Prescription drug abuse refers to taking medications without a valid prescription or taking them in a manner not intended by the prescriber. Commonly abused prescription drugs
Ppt k.sandhya.
The document discusses drug excretion from the body. It states that excretion is the removal of drugs and metabolites from the internal to external environment. The major organs involved in excretion are the kidneys, lungs, biliary system, intestines, saliva, and milk. Renal excretion through the kidneys is a primary pathway and involves glomerular filtration, tubular secretion, and tubular reabsorption. Other routes of excretion include biliary excretion into the feces, pulmonary excretion through exhaled air, and excretion in sweat, saliva, and breast milk. The document provides details on the mechanisms and clinical implications of these various excretion pathways.
protein binding of drugs
This document discusses protein binding of drugs. It begins by introducing that drugs interact with proteins in the blood and tissues, forming complexes. It then discusses several key points:
- The mechanism of protein binding involves weak bonds like hydrogen bonds and hydrophobic interactions. Binding occurs to both blood components and extravascular tissues.
- The main blood component drugs bind to is plasma proteins, especially albumin. Other proteins like alpha1-glycoprotein also bind drugs.
- Factors that affect binding include the drug's physicochemical properties, its concentration, and its affinity for binding components.
- Protein binding impacts drug absorption, distribution, and other pharmacokinetic properties. It is an important consideration for drug interactions and
Preethi
The document discusses antifungal agents. It classifies antifungals into several categories including polyenes, azoles, allylamines, and others. Azoles are further broken down into imidazoles and triazoles. Fluconazole is provided as an example azole antifungal. It discusses the mechanism of action of azoles in inhibiting ergosterol synthesis. Adverse effects include nausea and increased liver enzymes. Therapeutic uses include treating fungal infections like candidiasis and cryptococcal meningitis.
G.deeksha ppt final 1 (2)
Physiological factors that influence drug absorption include age, gastric emptying rate, intestinal transit time, diseases, blood flow to the gastrointestinal tract, gastrointestinal contents, and pre-systemic metabolism. Drug absorption depends on the movement of the unchanged drug from the site of administration into systemic circulation. It can be affected by factors like age, which impacts gastric acid levels and blood flow. Gastric emptying rate and intestinal transit time determine how quickly a drug enters the small intestine where most absorption occurs. Diseases of the GI tract can impact drug metabolism and permeability. Blood flow is important for removing the drug and maintaining absorption. Food in the GI tract and pre-systemic metabolism in the liver can impact bioavailability.
Devika
The document discusses sulpha drugs, which are derivatives of p-aminobenzene sulphonamides that possess antibacterial activity against both gram-positive and gram-negative bacteria. Sulpha drugs show less resistance compared to other antibiotics and are capable of attaining high plasma concentrations for long durations, requiring less frequent dosing. They are inexpensive and offer easy administration. The document covers the general mechanism of action, structure-activity relationships, classification, adverse effects and uses of sulpha drugs.
Ashish(qsar)
This document discusses quantitative structure-activity relationship (QSAR) parameters that are used to develop mathematical models relating a compound's molecular properties to its biological activity. It describes three main types of QSAR parameters: lipophilic parameters like partition coefficient and molar refractivity, electronic parameters like the Hammett constant, and steric parameters such as Taft's steric factor and Verloop steric parameter. Lipophilicity parameters measure a compound's affinity for lipid versus aqueous phases, while electronic and steric parameters account for effects of substituents on properties like ionization, polarity, and molecular bulkiness that influence biological interactions. Developing relationships between activity and these physicochemical parameters allows evaluation and design of new drug candidates.
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Your Skill Boost Masterclass: Strategies for Effective Upskilling
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Event Link:- https://meetups.mulesoft.com/events/details/mulesoft-mysore-presents-mule-event-processing-models/
Agenda
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For Upcoming Meetups Join Mysore Meetup Group - https://meetups.mulesoft.com/mysore/YouTube:- youtube.com/@mulesoftmysore
Mysore WhatsApp group:- https://chat.whatsapp.com/EhqtHtCC75vCAX7gaO842N
Speaker:-
Shivani Yasaswi - https://www.linkedin.com/in/shivaniyasaswi/
Organizers:-
Shubham Chaurasia - https://www.linkedin.com/in/shubhamchaurasia1/
Giridhar Meka - https://www.linkedin.com/in/giridharmeka
Priya Shaw - https://www.linkedin.com/in/priya-shaw
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- 1. MARKETING STRATEGIES BASED ON PRODUCT LIFE CYCLE & GROWTH OF PHARMACY INDUSTRY IN INDIA SREE DATTHA INSTITUTE OF PHARMACY Sheriguda,Ibrahimpatnam-501510. Department of Pharmacy Administration Presented by: M. Shiva - 16U21R0026 Under the guidance of : Assistant Professor – K. Priyanka 1
- 2. CONTENTS : - • Product life cycle • Definition • Marketing strategies during PLC a) Introduction stage b) Growth stage c) Maturity stage d) Declining stage SREE DATTHA INSTITUTE OF PHARMACY 2
- 3. PRODUCT LIFE CYCLE : - Definitions : - • ACC to Philip kotler : "The Plc is an attempt to recognize the distinct stages in the sales history of the product." • ACC to William J. Stanton : " The product life cycle concept is the explanation of the product from it's birth to death as a product exists in different stages & in different competitive environments." SREE DATTHA INSTITUTE OF PHARMACY 3
- 4. SREE DATTHA INSTITUTE OF PHARMACY 4
- 5. MARKETING STRATEGIES DURING PLC : - Every marketer tries that his product should stay in the market for the longest period , thus he has to take up various strategies at the different stages of product life cycle. • Introduction stage • Growth stage • Maturity stage • Declining stage SREE DATTHA INSTITUTE OF PHARMACY 5
- 6. INTRODUCTION STAGE : - • The introduction stage start with the launching of a new product by the marketer. The product is new one , so sales level is low & profits are negative. • It is very crucial stage for the marketer because the success or failure of the product is very much determine in this stage. • Strategies : - - Make proper advertising before the product is launched in the market. - Shorten the period of introduction as far as possible. SREE DATTHA INSTITUTE OF PHARMACY 6
- 7. - Heavy advertising & promotional expenses (attractive gifts ) . - Selective distribution & attractive discount to dealers. - If product is technical then adopt skimming pricing policy & if product is simple then adopt penetration pricing policy SREE DATTHA INSTITUTE OF PHARMACY 7
- 8. GROWTH STAGE : - • If the new product satisfy the market ,it will enter a growth stage in which sales increases at a faster rate .The high profits attract the competitors to enter the market with improved substitute products .Price remains the same or slightly decreases. • Strategies : - - Improve the product quality. - Add new product features & improve the product style . - Enter into new market areas. SREE DATTHA INSTITUTE OF PHARMACY 8
- 9. - Reduce the price to attract more number of buyers. - Increase in promotional activities. -Strengthen the distribution channels by increasing the number of retailers. - New version /models ,in different sizes & price range are introduced to cater the requirements of different types of buyers. - Create brand image of the product through promotional activities. - Emphasis on customer satisfaction. SREE DATTHA INSTITUTE OF PHARMACY 9
- 10. MATURITY STAGE : - • It has a longer duration than the other stages . In this sales increase at a very low rate .The product has to face keen competition . Competitors lower down the price increase their advertising, sales promotion. It increases the profit. • Strategies : - - Improve the quality of the product & introduce some new models. - Give proper attention to increase the usage among the current customers & also pursue some new uses to the product. SREE DATTHA INSTITUTE OF PHARMACY 10
- 11. - Try to convert non-users into users of the product. - Introduce new packaging & wrapper change policy. - Lowering the price to attract more customer. - Middlemen's margin is increased , to create the interest. - Give proper emphasis on advertising & promotional programs. - Change in the style & design of the product. A firm can improve his sales by changing one or more elements of marketing mix. It can reduce the price to attract new users & competitor's. SREE DATTHA INSTITUTE OF PHARMACY 11
- 12. DECLINING STAGE : - • In this final stage ,sales begin to fall & the product is gradually replaced by new innovation. This is because of technical advancement ,change in customer preference , increased competition. For marketer this stage is very crucial. • Strategies : - - Improve the product is functional sense. - Review the marketing & production programs. - Emphasis on Cost control techniques to generate profits means cut all costs to minimum level. SREE DATTHA INSTITUTE OF PHARMACY 12
- 13. Cont'd... - Economy packs or models may be introduced to revive the market. - Adopt selective promotion of the product to reduce distribution costs. - Packaging may be more attractive & reusable packages. - R&D efforts are increased to innovate the new product. - Sales incentive schemes are introduced to get dealers support. SREE DATTHA INSTITUTE OF PHARMACY 13
- 14. GROWTH OF PHARMA INDUSTRY IN INDIA SREE DATTHA INSTITUTE OF PHARMACY 14
- 15. SREE DATTHA INSTITUTE OF PHARMACY 15
- 16. SREE DATTHA INSTITUTE OF PHARMACY 16
- 17. SREE DATTHA INSTITUTE OF PHARMACY 17
- 18. SREE DATTHA INSTITUTE OF PHARMACY 18
- 19. SREE DATTHA INSTITUTE OF PHARMACY 19
- 20. EVALUATION:- SREE DATTHA INSTITUTE OF PHARMACY 20
- 21. SREE DATTHA INSTITUTE OF PHARMACY 21
- 22. MARKET VALUE:- SREE DATTHA INSTITUTE OF PHARMACY 22
- 23. EXPORT VALUE:- SREE DATTHA INSTITUTE OF PHARMACY 23
- 24. SHARE VALUE:- SREE DATTHA INSTITUTE OF PHARMACY 24
- 25. MAJOR PHARMACEUTICAL COMPANIES IN INDIA SREE DATTHA INSTITUTE OF PHARMACY 25
- 26. SREE DATTHA INSTITUTE OF PHARMACY 26