By : Nadeem Shaikh (10) Yash Pandya(11)
KEY ELEMENTS IN A PHARMACEUTICAL MARKETING PLAN INCLUDE :
1. Executive Summary 2. The Product 3. SWOT Analysis
4. The Market
5. Market Projections 6. Promotional Plan 7. Sales vs Expenses 8. Production Requirements 9. Follow up and Control
It is an overview of the entire plan
Its purpose is to summarize the key points of a document It must be clear and concise. It is a critical part of a business plan If it doesnt capture the reader's attention, the business plan will be set aside unread.
1.
2.THE PRODUCT
Key information about the product
Formulations Composition Price Brief clinical profile.
3.SWOT ANALYSIS
4.THE MARKET
Market research
Sales Audit
Market data
Prescription Audit
5.MARKET PROJECTIONS
3 to 5 year projections for the category
Market Projection
Product Competitor
Indicates where product is expected to go
6.PROMOTIONAL PLAN
Positioning
Target audience Product strategy Promotional message(s) Sales promotion methodology
7.SALES VS EXPENSES
Sales expectations Gross margin Marketing activities and their expenses Contribution from the product
8.PRODUCTION REQUIREMENTS
Sales packs Samples for production Materials management
9.FOLLOW UP AND CONTROL
Reporting Systems Implemen Feedback
tation
Quick Reference
Appendix Smooth Progress
Executive summary
Deliver more products of value
Grow a diversified business
Mission and Strategy
Simplify the operational model
Responsible business
Executive Summary Growth highlights
26.5 billion pounds turnover in 2013. 39 % coming from Europe and USA and the remaining 61 % from ROW. 6 significant new product approvals.
40 medicines in clinical trials.
400 million pounds of incremental savings. 60 % increase in volume of medicines supplied to least developed countries. 1st pharmaceutical company to sign all trials campaign for research transparency.
Executive summary
Products offered
More than 100 successful products offered, yet some of the famous ones are : 1. Horlicks 2. Crocin 3. Nicorette 4. Sensodyne 5. Eno 6. Iodex
Situational analysis
SWOT ANALYSIS
Strength
1.Brand loyalty. 2.Strong distribution network. 3.Heavy investments in promotion and advertisements.
Weakness
1.Small market.
2.Faced regulatory objections initially.
Opportunity
1.Target alternative disease areas that can be targeted. 2.Target alternative channels.
Threats
1.Lot of competition in market. 2.Chemist has a larger influence in OTC products. 3.Stringent regulations. legal
Marketing objectives
Segmentation
Over-thecounter product.
Targeting
Masses(all age groups).
Positioning
A combination of analgesic and antipyretic.
Differentiation
High effectiveness.
PRODUCT
Crocin
Crocin advance
Crocin cold n flu
Crocin pain relief
Crocin syrup
Pricing strategy
Pricing strategy - Penetrative and differential pricing
Variant Crocin pain relief Crocin 500 Crocin cold and flu Crocin advance Crocin syrup
Price(INR) 16.80 16.80 9.60 30 33.25
Volume 15 tabs/strip 10 tabs/strip 6 tabs/strip 15 tabs/strip 60 ml bottle
PLACE
Promotion
Promotion
Follow up and Control
PRODUCT NAME : ____________________ PERIOD From : ________________ To : _______________
Zone Total No. of MSRs 1 Promotional Input 2 3 1 Detailing Efforts 2 3 4 1 Sample Inputs 2 3 Primary Sales Secondary
ALL-INDIA NORM SET DEVIATION TO : VP/MM FROM :GPM
References :
www.gsk.com
www.mbaskool.com
www.superbrandsindia.com Marketing
management by Philip Kotler, Kevin Lane Keller