Deluxe Pharmaceutical Marketing Plan

Document Type:Essay

Subject Area:Marketing

Document 1

Market Summary 3 1. Market Demographics 3 1. Market Needs 4 1. Market Trends 4 1. Market Growth 5 3. SWOT Analysis 5 3. Strengths 5 3. Weaknesses 5 3. Opportunities 6 3. Threats 6 3. Competition 6 3. Business Model Description 6 4. Key to success 7 4. Research and development 7 4. Regulations 7 4. Sales 7 5. Mission 8 5. Marketing Objectives 8 5. Financial Objectives 8 5. Target market 9 5. Positioning 9 5. Strategies 9 5. Market mixing 10 6. Marketing Research 11 7. Financials 11 8. Controls 12 9. Recommendations 12 1. Executive Summary Deluxe Pharmaceutical, a privately owned pharmaceutical company specialized in Cancer chemotherapy drugs, will evolve, distribute and manufacture those generic and also brand name medications in London. The company will be located in Winchester. In the current world the pharmaceutical industry have been changing dramatically, reflecting the changes in the environment. Understanding and countering these changes with new and high efficacy drugs is the day to day goal and challenge that affects the pharmaceutical industry. Pharmaceutical customers are Health Practitioners and patients who have cancers. Our goals will be: • Improving drugs which are excising in our company. • Discovering new drugs • Decreasing the researching and development cost, by speeding up the involved process. Deluxe Pharmaceutical Company will increase its market through advertising which will be targeting the medical Practitioners and patients. Our expectation is to reach high profitability by our third year and we will generate over KKK millions in sales by our third year. Situation Analysis Deluxe Pharmaceutical Company marketing environment have many opportunities of increasing its sales. The environment also contains some of challenges which the company greatly believes in its capability to meet them. Market Summary Deluxe Pharmaceutical Company market demographic will be patients who have cancer and are being managed and medical practitioners.

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The most important thing is to direct our marketing strategies to the consumers, this is because many patients will come and ask for that medication which they heard or saw being advertised in the media. Medical practitioners, especially the physicians are the final decision makers because they determine which drug to prescribe to their clients. Market Needs Deluxe Pharmaceutical will supply our target demographic with drugs which are brand named and also the generic medications. Deluxe Pharmaceutical sales representatives will be rendering the medical practitioners and the patients with the updated information about the drugs, where to get them, new information pertaining to any new medication which will be introduced in the market and also the prices which are competitive in the pharmaceutical industry. Market Trends The current market trend which is affecting the pharmaceutical industry greatly includes: • There is increased rates of licensing • Increased costs of marketing and advertising products • Rugged food and drugs regulations involving drug approval.

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This is because of increased issues with drug safety. • Prices which are competitive than those of our rivals • Knowledgeable and friendly sales representatives. • Clear vision of market need. We are aware of our consumers and how we will create products and services which will be pleasing to our customers. Weaknesses • The Company is new to the business • There is no constituted reputation with patients or medical practitioners. • Our company is not functioning internationally; this has negative effect to the success of the company because it’s not able to reach those consumers who are in overseas markets. Key to success 4. Research and development Research and development is a slow process. The pharmaceutical industries have created collaborations with the laboratories, organizations which conducts research and firms of biotechnology in order to keep up with the changing environment.

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The knowledge which the management team has will help in ensuring the information which is collected from all other sources is documented and passed on to our internal pharmaceutical team. Regulations The process which the drugs move from the discovery, to be tried in the clinic and for it to be approved by Food and Drug Administration is a long and slow one. Financial Objectives The main focus of marketing plan is to lay down some of the marketing strategic programs that will make the mission and vision of Deluxe Pharmaceutical Company a reality in 2020. • To increase the profit margin • To achieve high percentage growth of KKK% rate • To reduce the cost and time by KKK% that is used in manufacturing of the products. Target market The company will reach the target market using the company’s website, advertising campaigns which will include direct mails, digital ads, televisions, radios, print ads and brochures.

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The sales representatives will use the brochures in order to educate the clinicians and patients on new and available drugs. Positioning Deluxe Pharmaceutical Company will be located near our competitors. • The last component explains the form which we will use in advertising our products. Deluxe Pharmaceutical company managers will use these four P`s to enable us to satisfy our customers in the competitive market. In the market share Deluxe Pharmaceutical company will develop and market drugs to the consumers. And because we have specialized in specific drugs of managing cancer we will gain market share and in run we will win and be recognized. Those medications which are prescribed in most of the cases are not substituted. …$KKKKK Total cost……………………………………………………………………………. KKKKK The assets needed to start up The balance cash on the start date………………………………………………….

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KKKKK Inventory……………………………………………………………………………. KKKK The long term assets…………………………………………………………………. KKKK Total Assets needed…………………………………………………………………$KKKK Total Expenses………………………………………………………………………. References Sattar,I. and A. Maqood, 2003. A Marketing Mix Model for Pharmaceutical Industry- A Parkistan Perspctive, The Journal of Independent Studies and Research, 1(2): 38-56 Kotler, P. and Gary Armstrong, 2002.

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