Marketing Plan (pharmaceuticals) by farooqraju

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									Strategic Marketing Plan




          Live Pain Free……..
                                                         Acknowledgement




“Strategic Marketing Planning of ACECLO® (Aceclofenac)” signifies the power of
team work over personal academic effort. We owe a debt of gratitude to all those people
without whom this plan would have never been accomplished. These people, not only
mentored us but they also made it a point that this study becomes a classy piece of study and
its only their patronage, their mentoring, their constructive assistance and guidance that has
made the study really meaningful and a well thought out marketing plan.
First of all, we thank the Almighty for His graciousness without which this project would not
have been possible.
To start off, it’s a privilege for us to express our deepest sense of acknowledgement to Mr.
Md. Borhan Uddin, our academic supervisor from Department of Pharmacy, North South
University, our mentor and undoubtedly the key person behind this plan. It has been an honor
to work under him. His versatile viewpoint and understanding of the subject matter, his
guidance’s, his constructive criticisms and above all the level of motivation and helpfulness he
showed really made us to stay focused and work logically.
It would be true to say that, without the helping hand of Mr. M Kawsar Siam, Executive
Officer, QC, Renata Pharmaceuticals Ltd. the whole plan might have been unsuccessful. He
entitled to receive thanks for their patience and assistance.

Where this report succeeds we share the credit, where it errs we alone accept the
responsibility.
                          Table of Content

  TOPICS                                     PAGE



1. EXECUTIVE SUMMARY                            1
2. COMPANY REVIEW
  I. COMPANY HISTORY                            3
 II. MISSION STATEMENT                          5
 III. VISION                                    5
 IV. PRODUCT/SERVICES AND MARKETS               5


3. MARKET REVIEW
 I. OVERALL MARKET SITUATION                    8
II. MARKET SITUATION OF ASPIRE                 10
III. MARKET RECOMMENDATION                     12


4. COMPETITORS REVIEW
 I. DIRECT COMPETITORS                         14
II. INDIRECT COMPETITORS                       15


5. DISEASE SPOTLIGHT                           16


6. PRODUCT REVIEW                              18


7. MARKET SEGMENTATION
 I. SEGMENTATION                               23
II. TARGET MARKETING                           25
III. MARKET POSITIONING                        28


8. SWOT ANALYSIS                               30
I. SWOT RECOMMENDATION                         31
9. MARKETING STATEGY
 I. OBJECTIVES & ISSUES              33
III. MARKETING MIX                   33
IV. PLACE                            34
V. PRICE                             35


10. PROMOTIONAL MIX
 I. PERSONAL SELLING                 36
II. INSTUTITIONAL SELLING            38
III. SALES PROMOTION                 40
IV. PUBLICITY AND PUBLIC RELATIONS   40
V. ADVERTISING                       40


11. SALES FORECAST                   41


12. FINANCIAL PLAN                   43


13. ACTION PLAN                      45


14. CONTROL                          46


15. REFERENCE                        47
                                     Executive Summary



A     SPIRE Pharmaceuticals has been a leading pharmaceutical products manufacturer since its
      inception in 2000. The company carries out its operations in Bangladesh at two large cGMP
      compliant manufacturing installations and markets its products locally and globally via its
competent sales force. ASPIRE manufactures 120 different products of varying therapeutic classes and
dosage forms which include tablets, capsules, oral liquids, ampoules, dry powder vials, powder for
suspension, nasal sprays etc.
ASPIRE is focused on research and development through existing joint research initiatives and plans to
establish a hi-tech research institute in the near future, which is in accordance with its vision of
introduction of novel medicine through innovation and strict quality management.
The pharmaceutical sector is the second largest in Bangladesh, with sales exceeding 55 billion taka in the
year 2009. Non Steroidal Anti Inflammatory Drugs (NSAIDs) as a therapeutic class has always held an
important position in terms of pharmaceutical sales. In 2009, it registered a growth of 16.5 percent and
the total market sale was around 5.5 billion, which was 10 percent of the market share.
Aceclofenac is an important drug in the NSAID class, widely prescribed to millions of people for pain
relief in different forms of arthritis. Aceclofenac was introduced into the local market in 2006, and sales
in 2009 amounted to 1.1 billion. This sales growth is expected to rise to 1.3 billion by the end of 2010.
In light of its mission to become the leading pharmaceutical company in Bangladesh, ASPIRE plans to
launch Aceclofenac, under the brand name Aceclo®. With the meaningful tagline “LIVE PAIN FREE”, we
plan to target part of the population aged 60 and above, mainly suffering from arthritis related pain
disorders.
In order to capture the present market, we plan to follow a marketing strategy based on capturing value
from customers through customer satisfaction, with special emphasis on quality and a reasonable
pricing strategy. The pricing strategy shall be that of price leadership combined with generous
promotional packages in order to penetrate the existing market.
Like our previous NSAID products, we expect Aceclo® to become a brand leader and capture up to 25
percent of the Aceclofenac market share within the space of the next three years. The projected sales




                                                                                                              Executive Summary
figure within the first year is expected to be around 130 million, corresponding to 10 percent of the
Aceclofenac market share. The net Return on Investment (ROI) is expected to be 15%, which shall cover
costs of 110 million, which shall cover a huge promotion and cost budget.
The marketing forecast for Aceclofenac indicates a rise in demand over the next few years, which places
the futur
								
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