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Parkin Laboratories Sales Target Analysis

Parkin Laboratories is facing issues meeting its 20% growth target for 2012 due to uneven growth across regions. To address this, the company is considering targeted promotions and marketing blitzes. While revising targets now would send the wrong message, more promotional strategies could be used in uneven areas and increased MR visits. Sales promotions like increased marketing, providing clinical trial data, and incentivizing MRs can help achieve targets by boosting awareness, relationships, and trust. The document analyzes whether now is the right time for Parkin to launch a new product given its strong financial position and the growing Indian market.

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Disha Dahiya
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88 views6 pages

Parkin Laboratories Sales Target Analysis

Parkin Laboratories is facing issues meeting its 20% growth target for 2012 due to uneven growth across regions. To address this, the company is considering targeted promotions and marketing blitzes. While revising targets now would send the wrong message, more promotional strategies could be used in uneven areas and increased MR visits. Sales promotions like increased marketing, providing clinical trial data, and incentivizing MRs can help achieve targets by boosting awareness, relationships, and trust. The document analyzes whether now is the right time for Parkin to launch a new product given its strong financial position and the growing Indian market.

Uploaded by

Disha Dahiya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

PARKIN

LABORATORIES
SALES TARGET DILEM
DILEMMA
MA

Group 2
Q1. Critically review the sales performance of different zones
and target settings of Parkin.
 Growth in 2011: 23.5%
 Growth in 2012: 10.6%
 Expected Growth in 2012: 20%

 Problems with the expected growth:


 Uneven growth across different regions
 Expected launch of the new Diabetic Drug
 QTQ (Quality Target Quantity) all the RSMs,
DSMs and MRs have to receive quality as well
as quantity targets

 Solutions proposed to achieve the


expected target:
 Targeted Promotions
 Marketing Blitz
Q2.  Is it a good time to revise the targets? If yes, then how
should Parkin revise the targets? 
 The yearly are targets are set after doing detailed analysis of industry, company
itself and reviewing current performance

 Revising the targets at this stage will deliver a wrong message across company and
to the MRs who worked very hard to achieve their targets

 The competition’s growth rate is 28-30% while we are still targeting 20%

 Therefore, not a good time to revise targets in the last quarter

 However, more promotional strategies can be introduced in areas of uneven growth 

 More visits by MRs in affected areas may also help to achieve the desired targets
Q3. What will be the role of sales promotion strategies to
achieve targets?

Sales Promotion Role in achieving


Strategies  the target
Increasing Visits/Calls to Doctors and Increase Brand Awareness
Chemists

Maintaining healthy relationships with Increase in sales due to positive Word


Retailers of Mouth

Increased marketing efforts on Digital Helps in reaching to and


platform communicating with customers easily

Providing the Clinical Trial data to Gain the trust of doctors and so that
doctors  they prescribe it more often

Timely Incentivizing the Medical Motivates them to achieve the targets


Representatives
Q4. Is it the right time to launch a new product?
The company has a Indian market is
strong balance sheet and showing a good
the revenue and profits response and the
have been increasing for spending on medicine
the past 5 years has increased

1 2 3 4

The company has a well


The company faces a lot established and strong
of strong competitors, distribution system that would
some of which have make it easy to distribute the
multinational presence new product
and are looking to capture
the Indian market
Thank You!
Presentation By:
Group 2
Aaditya Pandey: 20PGDM065
Akshay Gupta: 20PGDM070
Disha Dahiya: 20PGDM087
Manish Singh: 20GDM095
Nitya Gupta: 20PGDM102
Saurabh Dharaskar: 20PGDM099
Yash Singhal: 20PGDM126

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