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Marketing and Price

Satisfactory Essays

FACULTY OF BUSINESS AND ACOUNTANCY
BACHELOR OF BUSINESS ADMINISTRATION
CBEB 1106 PRINCIPLES OF MARKETING

Assignment 2012/2013

Company Case: Unilab’s Vidastat

Prepare by:
Choong Yee Ping CEB120013
Kim Ga Young NEX120217
Lim Ke Shin CEB120032
Nurfarah Ain Bt. Abu Hassan SEF090030

Contents Number | Tittle | Pages Number | 1.1 | Introduction | | | 1.1.1 The Price Buster | 3 | | 1.1.2 Company Background | 4 | | 1.1.3 Competitor’s Analysis | 5-6 | | 1.1.4 Unilab Launches a Counteroffensive | 7-9 | 1.2 | Question for Discussion | | | 1.2.1 Question 1 | 10 | | 1.2.2 Question 2 | 11-12 | | 1.2.3 Question 3 | 13 | | 1.2.4 Question 4 | 14-15 | 1.3 | Conclusion | 16 | 1.4 | …show more content…

In 2005, Zocor was Merck’s number-one product and the second-biggest anti-cholesterol product, with worldwide sales of $4.3 billion. Zocor enjoyed a first mover advantage, thereby becoming the market leader in the anti-cholesterol segment. In 2004, Merck’s patent on simvastatin expired and it became a generic product, whereby other companies could now manufacture and market simvastatin in different countries and with brand names without paying any royalties to the previous patent holder. Merck expected a decline in its sales as a result of the proliferation of generic , produced by different companies.
Zocor had been promoted not only in Asia but all over the world, and doctors were happy to prescribe the drug as it proved to effectively reduce the risk of heart attacks and strokes among patients by reducing cholesterol.
Based on clinical studies, simvastation has to be taken continuously for three months to reduce high cholesterol to a normal level, Other competitors’ alternatives-such as fish oil capsules, which are sometimes called the “natural anti-cholesterol agent”-were not as popular as simvastatin and were not being prescribed by doctors. Zocor was the market leader, securing more then 35 percent of the Philippines’ anti-cholesterol market. Zocor was promoted by a strong sales team who regularly met with doctor to explain the merits of the drug. The sales team also carried out sampling and distributed promotional material including brochures and free

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