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
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