Andrada, steven michael v54 10 step marketing plan generics pharmacy

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10 STEP Marketing Plan for GENERICS PHARMACY

Steven Michael Y. AndradaJune 2011

www.stevenandrada.blogspot.com

This 10 Step Marketing Plan is part of the mandatory requirements of Prof. Remigio Joseph De Ungria’s AGSB marketing management class.

The data included in this report are based on publicly available data such as those on internet websites, news, package declarations, public reports.

When appropriate, data are “masked” so as not to create unexpected conflicts.

The reports are posted and linked on slideshare, blogs and facebook so that there is easier sharing among students from different marketing classes.

Disclaimer


1. Identify your target (PTM)2. What do they need, want,

demand (NWD)3. What are they choices

(competitors)4. Where is the opportunity (gap)5. How big is the market (3Cs)

Steps 1 to 5

Summary headline of your PTM and market


6. Product7. Price 8. Promo 9. Place 10. Generic Winning Strategy of Mix

Steps 6 to 10

Summary headline of the marketing mix & strategy


1. Primary Target Market (PTM)

Demographics All ages Male & Female Class C, D, and E Single and Married


Lifestyle Healthy Sick

Behavior Individuals who want to be in a

healthy state and those who want to get well but have limited resources


1. Primary Target Market (PTM)

2. PTM needs

7Reference: Maslow’s Hierarcy of Needs Marketing Management, 11th ed, Philip Kotler

Safe, effective & affordable medicines

Safe & effective medicines


Affordable medicines

2. PTM’s needs, wants & demands

Needs: Accessibility & availability of medicines

Wants: Safe and effective medicines

Demands: Affordable, safe and effective medicines


3a. Direct and indirect products that address my PTM’s NWD

Direct Competitor Mercury Drugstore Southstar Drug Botika ng Bayan Other local pharmacy

Indirect Competitor Hospital pharmacy Herbal medicines


Competitive position map

Price vs. Accessibility Matrix

Not Accessible Moderate AccessibleHighly Accessible

High Price

Low Price

Mercury Drugstore

Botika Ng BayanSouthstar

Drug

GenericPharmacy


Benefit positioning vs. brand mapBenefit Positioning vs. Brand Matrix

Medical Consultation

BP check up

Membership Card

Online Order

Free Delivery


4. Closing the Gap

Making medications accessible to all Filipinos

Affordable BFAD approved medications Availability of wide range medications BP check up 20 % discount to all Senior Citizens 1060 branches nationwide


5a. Market size using Competitor Data

$2 Billion Pharmaceutical market in the Philippines

$700 Million (35%) - Generics Medicines

$1.3 Billion (65%) - Branded Medicines


http://growinginclusivemarkets.org/media/cases/Philippines_RiteMed_2008.pdf

5b. Market size using Government Data

6 out of 10 Filipinos are now opting for generic medicines over the more expensive branded counterparts.


http://pinoybusiness.org/2009/09/26/more-filipino-now-buys-generic-drugs-says-doh/

$2 Billion Pharmaceutical market in the Philippines

$1.2 Billion (60%) - Generics Medicines

$800 Million (40%) - Branded Medicines

Recent SWS survey said that Filipinos buying generic drugs increased from 47% in 2003 to 54% in 2006 to 55% in 2008

5c. Market size using SWS Survey

2003 SWS Survey

49% use generic medicines

2008 SWS Survey


2006 SWS Survey



5. Decide on market size in pesos, not in number of people1. Competitor data= $ 700 Million

2. Customer Usage data = $1.2 Billion

3. SWS Survey = $ 1.1 Billion


6a. Generics Pharmacy


6a. Generic Pharmacy vs. competition


6b. Generic Pharmacy Product Description

We believe that health is not a privilege, but a basic right of every Filipino.

Mabisa na, Matipid pa! The goal is to make

affordable generic medicine more available to a greater number of the population at the soonest possible time.www.stevenandrada.blogspot.com

7. Price – cheaper (50%) compare to branded medications


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%

http://fitzvillafuerte.com/generic-medicines-a-comparative-price-study-on-generic-cholesterol-and-other-maintenance-medicines.html

8a. Which of these modes does your product use?


8a. Promotional Strategies of Generics Pharmacy

Tri-Media TV Newspapers Radio

Health Education to various sectors Privilege Card (Membership) Events (Fun Run, Feeding program) Strengthen Franchising


8a. Generics Pharmacy Promotional Strategies


8b. Competitor promo


9. Place

Nationwide Free Delivery Online orders and pick up 24/7 operating hours Cash and credit card transactions 1060 branches and more to open


10. Generics Pharmacy is a niche leader

Generics Pharmacy provides quality and affordable medicine more available to a greater number of the population at the soonest possible time.

Affordable BFAD approved medications

Availability of wide range medications


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SUMMARY


1. Identify your target (All ages, Class C, D & E, Male & Female)

2. NWD (Affordable, safe & effective medicines)

3. What are they choices (Mercury Drugstore, Southstar Drug, Botica ng Bayan )

4. Where is the opportunity (accessible, safe affordable medications)

5. How big is the market ($ 1.1 Billion)

Steps 1 to 5

Summary headline of your PTM and market


6. Product (safe & affordable medicines)7. Price (50% cheaper than branded

medicines)8. Promo (Tri-media advertisement,

events, privilege card) 9. Place (Strategic area nationwide)10. Generic Winning Strategy of Mix

(Niche leader)

Steps 6 to 10

Summary headline of the marketing mix & strategy


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10 STEP Marketing Plan for GENERICS PHARMACY

Steven Michael Y. AndradaJune 2011


Andrada, steven michael v54 10 step marketing plan generics pharmacy

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