Essay Product Team Cialis Getting Ready to Market

1277 Words6 Pages
Product Team Cialis:
Getting Ready to Market

MKT

Q1. In 2002, Viagra was the only clinically proven, FDA approved medication for Erectile Dysfunction (ED) on the market (Cialis – Dec 2003, Levitra – Sept 2003). Viagra had the highest brand recognition of any pharmaceutical product on the market. It had generated over one billion dollars in annual sales for 3 consecutive years since its introduction in 1998. In 2002, Viagra accounted for 5.3% ($1.73 billion) in sales of Pfizer’s annual Revenue of $32.37 billion, compared to 4.3% ($1.3 billion) of total revenue ($29.5 billion) in 2000. Viagra was expected to continue to lead the ED market due to its unsurpassed medical profile. Future Viagra sales growth was expected to
…show more content…
Baby boomers (cohort segmentation) - because of increased prevalence of up to 60% of ED within this age group. Psychographic segmentation - age specific (40 – 60+) - as ED is increasingly more common in this age group, varying 20% to 60 %.

Spouse or partners (during their physician office visits) - 80% of the men using ED medication are married or living together.

Q3. Cialis could either position itself as a “Market Challenger” or “Market Niche.” As a “Market Challenger,” the introduction of Cialis to the marketplace means that the dominance of Viagra is confronted, having alternatives to treat erectile dysfunction. However, the Lily ICOS team could not ride on this wave alone and would need to create brand recognition and loyalty. For doing so, they would need to ensure that consumers recognized Cialis as the solution to ED and not only as an alternative. The pro for Cialis is that they have a superior product; however, they are up against Viagra, with the reputation as pioneer of ED management in the marketplace.

However, as a “Market Niche,” Cialis could segment their market to incorporate the emotional aspect of the product and its positive social implications in relationships, an aspect which the Viagra marketing team did not address. Therefore, to successfully create this concept, Lily ICOS involved its marketing team early into the development of Cialis, as this would enable them to better understand the core

More about Essay Product Team Cialis Getting Ready to Market

Get Access