Andrada, steven michael v54 10 step marketing plan generics pharmacy

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Andrada, steven michael v54 10 step marketing plan generics pharmacy

  1. 1. 10 STEP Marketing Plan for GENERICS PHARMACY Steven Michael Y. Andrada June 2011 www.stevenandrada.blogspot.com
  2. 2. <ul><li>This 10 Step Marketing Plan is part of the mandatory requirements of Prof. Remigio Joseph De Ungria’s AGSB marketing management class. </li></ul><ul><li>The data included in this report are based on publicly available data such as those on internet websites, news, package declarations, public reports. </li></ul><ul><li>When appropriate, data are “masked” so as not to create unexpected conflicts. </li></ul><ul><li>The reports are posted and linked on slideshare, blogs and facebook so that there is easier sharing among students from different marketing classes. </li></ul>Disclaimer www.stevenandrada.blogspot.com
  3. 3. <ul><li>Identify your target (PTM) </li></ul><ul><li>What do they need, want, demand (NWD) </li></ul><ul><li>What are they choices (competitors) </li></ul><ul><li>Where is the opportunity (gap) </li></ul><ul><li>How big is the market (3Cs) </li></ul>Steps 1 to 5 Summary headline of your PTM and market www.stevenandrada.blogspot.com
  4. 4. <ul><li>Product </li></ul><ul><li>Price </li></ul><ul><li>Promo </li></ul><ul><li>Place </li></ul><ul><li>Generic Winning Strategy of Mix </li></ul>Steps 6 to 10 Summary headline of the marketing mix & strategy www.stevenandrada.blogspot.com
  5. 5. 1. Primary Target Market (PTM) <ul><li>Demographics </li></ul><ul><ul><li>All ages </li></ul></ul><ul><ul><li>Male & Female </li></ul></ul><ul><ul><li>Class C, D, and E </li></ul></ul><ul><ul><li>Single and Married </li></ul></ul>www.stevenandrada.blogspot.com
  6. 6. <ul><li>Lifestyle </li></ul><ul><ul><li>Healthy </li></ul></ul><ul><ul><li>Sick </li></ul></ul><ul><li>Behavior </li></ul><ul><ul><li>Individuals who want to be in a healthy state and those who want to get well but have limited resources </li></ul></ul>www.stevenandrada.blogspot.com 1. Primary Target Market (PTM)
  7. 7. 2. PTM needs Reference: Maslow’s Hierarcy of Needs Marketing Management, 11 th ed, Philip Kotler Safe, effective & affordable medicines Safe & effective medicines www.stevenandrada.blogspot.com Affordable medicines
  8. 8. 2. PTM’s needs, wants & demands <ul><li>Needs: Accessibility & availability of medicines </li></ul><ul><li>Wants: Safe and effective medicines </li></ul><ul><li>Demands: Affordable, safe and effective medicines </li></ul>www.stevenandrada.blogspot.com
  9. 9. 3a. Direct and indirect products that address my PTM’s NWD <ul><li>Direct Competitor </li></ul><ul><ul><li>Mercury Drugstore </li></ul></ul><ul><ul><li>Southstar Drug </li></ul></ul><ul><ul><li>Botika ng Bayan </li></ul></ul><ul><ul><li>Other local pharmacy </li></ul></ul><ul><li>Indirect Competitor </li></ul><ul><ul><li>Hospital pharmacy </li></ul></ul><ul><ul><li>Herbal medicines </li></ul></ul>www.stevenandrada.blogspot.com
  10. 10. Competitive position map Price vs. Accessibility Matrix Not Accessible Moderate Accessible Highly Accessible High Price Low Price Mercury Drugstore Botika Ng Bayan Southstar Drug Generic Pharmacy www.stevenandrada.blogspot.com
  11. 11. Benefit positioning vs. brand map Benefit Positioning vs. Brand Matrix Medical Consultation BP check up Membership Card Online Order Free Delivery www.stevenandrada.blogspot.com
  12. 12. 4. Closing the Gap <ul><li>Making medications accessible to all Filipinos </li></ul><ul><li>Affordable BFAD approved medications </li></ul><ul><li>Availability of wide range medications </li></ul><ul><li>BP check up </li></ul><ul><li>20 % discount to all Senior Citizens </li></ul><ul><li>1060 branches nationwide </li></ul>www.stevenandrada.blogspot.com
  13. 13. 5a. Market size using Competitor Data <ul><li>$2 Billion Pharmaceutical market in the Philippines </li></ul><ul><ul><li>$700 Million (35%) - Generics Medicines </li></ul></ul><ul><ul><li>$1.3 Billion (65%) - Branded Medicines </li></ul></ul>www.stevenandrada.blogspot.com http://growinginclusivemarkets.org/media/cases/Philippines_RiteMed_2008.pdf
  14. 14. 5b. Market size using Government Data <ul><li>6 out of 10 Filipinos are now opting for generic medicines over the more expensive branded counterparts . </li></ul>www.stevenandrada.blogspot.com http://pinoybusiness.org/2009/09/26/more-filipino-now-buys-generic-drugs-says-doh/ <ul><li>$2 Billion Pharmaceutical market in the Philippines </li></ul><ul><ul><li>$1.2 Billion (60%) - Generics Medicines </li></ul></ul><ul><ul><li>$800 Million (40%) - Branded Medicines </li></ul></ul>
  15. 15. <ul><li>Recent SWS survey said that Filipinos buying generic drugs increased from 47% in 2003 to 54% in 2006 to 55% in 2008 </li></ul>5c. Market size using SWS Survey 2003 SWS Survey 49% use generic medicines 2008 SWS Survey 55% use generic medicines 2006 SWS Survey 54% use generic medicines www.stevenandrada.blogspot.com
  16. 16. 5. Decide on market size in pesos, not in number of people <ul><li>Competitor data= $ 700 Million </li></ul><ul><li>Customer Usage data = $1.2 Billion </li></ul><ul><li>SWS Survey = $ 1.1 Billion </li></ul>www.stevenandrada.blogspot.com
  17. 17. 6a. Generics Pharmacy www.stevenandrada.blogspot.com
  18. 18. 6a. Generic Pharmacy vs. competition www.stevenandrada.blogspot.com
  19. 19. 6b. Generic Pharmacy Product Description <ul><li>We believe that health is not a privilege, but a basic right of every Filipino. </li></ul><ul><li>Mabisa na, Matipid pa! </li></ul><ul><li>The goal is to make affordable generic medicine more available to a greater number of the population at the soonest possible time. </li></ul>www.stevenandrada.blogspot.com
  20. 20. 7. Price – cheaper (50%) compare to branded medications www.stevenandrada.blogspot.com http://fitzvillafuerte.com/generic-medicines-a-comparative-price-study-on-generic-cholesterol-and-other-maintenance-medicines.html     Generic’s Pharmacy Branded % Difference CHOLESTEROL         Fenofibrate cap 100 mg   PHP 16.50 PHP 19.75 16% Simvastatin tab 20 mg   PHP 15.00 PHP 39.50 62%           HYPERTENSION         Amlodipine tab 10 mg   PHP 19.65 PHP 74.75 74% Nifedipine tab 20 mg   PHP 19.00 PHP 35.50 46%           ASTHMA         Salbutamol 100 mcg Inhhaler   PHP 280.00 PHP 406.75 31%           ARTHRITIS         Naproxen cap 500 mg   PHP 7.00 PHP 22.50 69%           NERVOUS SYSTEM         Fluoxetine cap 20 mg   PHP 40.00 PHP 126.00 68% Sertaline   PHP 39.00 PHP 113.50 66%
  21. 21. 8a. Which of these modes does your product use? www.stevenandrada.blogspot.com
  22. 22. 8a. Promotional Strategies of Generics Pharmacy <ul><li>Tri-Media </li></ul><ul><ul><li>TV </li></ul></ul><ul><ul><li>Newspapers </li></ul></ul><ul><ul><li>Radio </li></ul></ul><ul><li>Health Education to various sectors </li></ul><ul><li>Privilege Card (Membership) </li></ul><ul><li>Events (Fun Run, Feeding program) </li></ul><ul><li>Strengthen Franchising </li></ul>www.stevenandrada.blogspot.com
  23. 23. 8a. Generics Pharmacy Promotional Strategies www.stevenandrada.blogspot.com
  24. 24. 8a. Generics Pharmacy Promotional Strategies www.stevenandrada.blogspot.com
  25. 25. 8b. Competitor promo www.stevenandrada.blogspot.com
  26. 26. 8b. Competitor promo www.stevenandrada.blogspot.com
  27. 27. 8b. Competitor promo www.stevenandrada.blogspot.com
  28. 28. 9. Place <ul><ul><li>Nationwide </li></ul></ul><ul><ul><li>Free Delivery </li></ul></ul><ul><ul><li>Online orders and pick up </li></ul></ul><ul><ul><li>24/7 operating hours </li></ul></ul><ul><ul><li>Cash and credit card transactions </li></ul></ul><ul><ul><li>1060 branches and more to open </li></ul></ul>www.stevenandrada.blogspot.com
  29. 29. 10. Generics Pharmacy is a niche leader <ul><li>Generics Pharmacy provides quality and affordable medicine more available to a greater number of the population at the soonest possible time. </li></ul><ul><li>Affordable BFAD approved medications </li></ul><ul><li>Availability of wide range medications </li></ul>www.stevenandrada.blogspot.com
  30. 30. SUMMARY www.stevenandrada.blogspot.com
  31. 31. <ul><li>Identify your target (All ages, Class C, D & E, Male & Female) </li></ul><ul><li>NWD (Affordable, safe & effective medicines) </li></ul><ul><li>What are they choices (Mercury Drugstore, Southstar Drug, Botica ng Bayan ) </li></ul><ul><li>Where is the opportunity (accessible, safe affordable medications) </li></ul><ul><li>How big is the market ($ 1.1 Billion) </li></ul>Steps 1 to 5 Summary headline of your PTM and market www.stevenandrada.blogspot.com
  32. 32. <ul><li>Product (safe & affordable medicines) </li></ul><ul><li>Price (50% cheaper than branded medicines) </li></ul><ul><li>Promo (Tri-media advertisement, events, privilege card) </li></ul><ul><li>Place (Strategic area nationwide) </li></ul><ul><li>Generic Winning Strategy of Mix (Niche leader) </li></ul>Steps 6 to 10 Summary headline of the marketing mix & strategy www.stevenandrada.blogspot.com
  33. 33. 10 STEP Marketing Plan for GENERICS PHARMACY Steven Michael Y. Andrada June 2011 www.stevenandrada.blogspot.com

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