Pharmasim Preliminary Market Strategy

Allstar Brands’ brand management team will make decisions based on the assumptions gained from corporate standings and market research. Allround cold medication will capitalize on its high brand awareness and solid market share to increase revenue through promotional allowances, product diversification and bigger direct to consumer promotions. Our primary focus is direct channel distribution to mass merchandisers, large grocery stores and chain drugstores. New product reformulation for children’s medicine and adult capsule are expected to increase market share and long-term profitability. We predict a reduction in advertising costs due to strong brand awareness.

As the brand manager for Allround cold medicine, there were many decisions regarding product formulation, strategy, line extensions and product launches over the company’s last 10 periods. The brand was focused on remaining a profitable, mature product family within the cold medicine category, but also maintaining a premium brand image.

Allround is sold through both direct and indirect channels, the venue of direct to the retailer allows for more control over the product placement in the modes of independent drug stores, but for larger stores such as grocery stores, mass merchandisers, and chain drug stores the study found that they focus concerns on product turnover and given allowances for the product.

One primary goal of Pfizer is to deliver sustained, excellent product by outperforming Pfizer’s competitors and must differentiate itself adequately from its competitors. Competitive advantage is central to strategic management in that it will produce and sustain superior performance. To be competitive in a business environment, often it requires the company to have a product or service different and better than other organizations competing in the same marketplace. According to Wadman (2007) “Pfizer and the rest of the pharmaceutical industry need to develop more sophisticated drugs, targeted at a smaller number of people more quickly, efficiently and at a lower cost” (p. 1). Once Pfizer’s strengths, weaknesses, opportunities, and threats are assessed and analyzed, managers must decide a set of strategies to reduce or eliminate its weaknesses and capitalize on its strengths and maximize opportunities. An example is Porter’s three generic strategy approaches of differentiation, cost leadership, and focus strategy by using differentiation strategies to differentiate Pfizer from its competitors. Strategies are essential; however, it is useless unless they are effectively implemented levels of the company. Business-level strategies are typically developed and implemented by heads of business units and are first approved by top management. The functional level strategy is the last level that focuses on developing strategies for managing the various departments to

Currently, the most frequent users are children under 10 and seniors over the age of 65. The buyers of health and beauty aids also consist of a wide range of users. Younger users tend to buy hair care and hygiene products initially, then add cosmetics and skin care items as they mature. The addition of a wide range of household items, including kitchenware, toys, pet care items, and lawn care items has enhanced the appeal of the drugstore as a one-stop shopping destination, where frequently used items can be picked up while a prescription is being filled. The development of a strategy that focuses on convenience items will further broaden the target market.

Medicines Company’s drug, Angiomax, outperforms Heparin, but incurs significantly higher costs to produce, making the drug difficult to attractively price. This difficulty in pricing stems from a poor positioning strategy for Angiomax which does not maximize the perceived value (PV) that the drug provides to its key customer segments. Therefore, Medicines Co., must develop a positioning strategy that maximizes the perceived value of Angiomax.

Resources: board of directors who are risk averse, executive council, CEO, VP of research, Research Manager, CIO, chief information security officer (CISO)

The important issue here is to build awareness of Metabical for the consumer, and then make sure that the consumer knows enough information about it. The more the advantages of safety, FDA approval and long term results due to the support program are advertised the easier it becomes for the consumer to like Metabical, and prefer it over Alli, or others. Once it becomes in the consumers consideration set he/she might develop the conviction to buy it, and eventually purchase it at the end. This hierarchy of effects model helps in knowing where to fit advertising. Media and the TV ads would spread knowledge and awareness to consumers (Direct to consumer advertising). Also the print ads in medical journals would help raise awareness amongst medical practitioners. The promotions like the informational pamphlets and the two high profile medical education events would also help in contributing to health care provider preference. The viral marketing campaign: Metabical Challenge contest and the contestant blogs in the social networking sites would greatly enhance consumer knowledge and preference as well. To succeed; it’s important to understand this hierarchy of effects: THINK, FEEL, and DO that the consumer goes through.

Current Industry. The retail drug industry’s 2010 combined annual revenue was $277 billion, according to the National Association of Chain Drug Stores (Drug Store Industry…, 2011, par. 4).The big players in this industry are CVS Caremark, Corp. Walgreen Co., and Rite-Aid, Corp with Wal-Mart and Target developing more of a presence in recent years. According to the article, the drug store industry is very concentrated with the 50 largest companies generating about 70 percent of the industries revenue (Drug Store Industry…, 2011, par. 4). The industry had grown substantially in the last 50 years and will continue to innovate and develop well into the near future.

Patient - Physician Attitude and behavior associated with Direct to Consumer (DTC) promotion of Prescription/OTC medications

The company had two alternative strategies for its Datril brand; the first was to promote it as a substitute for Tylenol while the other was to offer it at a lower price than Tylenol. The focus of the first strategy was to promote Datril as a new brand of a well-renowned organization, Bristol-Myers. It was proposed that the company will promote Datril by associating it with Bristol-Myers in all its commercial ads and promotional campaigns on all the

Although physicians believe that they cannot be directly influenced by marketing techniques, studies demonstrate that visits from pharmaceutical representatives are highly effective in changing prescribing behaviours. Numerous studies have shown that drug sales increase the most when pharmaceutical sales representatives directly visit physicians in comparison with direct-to-consumer advertising and advertisements in scientific journals. Pharmaceutical detailing is effective because drug representative only present biased information on the benefits of drugs to physicians and do not reveal the negative side effects. The Australia and New Zealand Journal of Medicine published a study conducted in 1998 which demonstrated how and why physicians are influenced by pharmaceutical detailing. In this study, researchers recorded 16 visits between drug representatives and physicians during which 64 drugs were marketed. During each visit, physicians were presented with gifts, free drug samples and promotional materials. Receiving the gifts made the physicians feel the need to reciprocate by prescribing the marketed drug to their patients. Additionally, drug representatives utilized a “social validation” technique in 41% of their visits, in which they forced the physician to prescribe a certain drug by

The Center for Disease Control has some of the most accurate information regarding the illnesses that exist in the United States because of their extensive testing and access to studies done by researchers and scientists. So when they state that there are thousands of toddlers and small children currently taking psychotropic medications, this information is shocking, but true. Children that would normally never be considered good candidates for this kind of treatment are being handed fistfuls of prescription pills that do more harm than good. And all for the sake of their education. This article will discuss some of the main points that experts attribute to this problem.

Pharm Universe is a global pharmaceutical organization that was established nine years ago. The company currently operates with 1,500 representatives across the globe and is headquartered in Boston, Massachusetts, USA. The company was founded after the success of work of a senior scientist in the line of business developing an alternative cure medicine for reducing the lung and other blood clusters. The new alternative medicine incredibly lessened the probability of clot occurrences.

Did you know?  Some people feel more pain than others. The reason is probably perception. The brain works by association.  Ibuprofen is analgesic and anti-inflammatory but