Marketing Pland for Launching of New Product

In: Business and Management

Submitted By gokulmyname
Words 4869
Pages 20
Marketing Plan for the launch of “OSAMAX ”
Current market situation

Nepalese Pharmaceutical market and its marketing practices is complex to understand. With no such specific guidelines and policies from its regulatory body DDA, Nepalese pharmaceuticals feel the gap for visionary support from government. Though the country is self reliant in various categories the chunk of market share is still being enjoyed by foreign and Indian companies due to the lack of specific guidelines. Nepal pharmaceutical Laboratory is going to introduce its new product in the market where its competitors already exists. Osamax competing brands are :
RESTOFOS – Sun Pharmaceuticals – Indian company
OSTEOFOS – Cipla Pharmaceuticals – Indian company
FOSSIL – Magnus Pharmaceuticals – Nepali company
Since it is difficult to adopt differentiation strategy in pharmaceutical products in terms of product and its features, NPL has to work on other aspects to add value to the product and gain competitive advantage over competitors’ product.
Market description
Currently total market size of pharmaceutical product is 12 billion and the share of Nepali companies in the market is 35 % with 45 manufactures operating and (5– 18) in the pipeline. With an annual growth rate of 19 %, this sector is one of the fastest growing industries. This sector is contributing around 12 billion to nation’s economy of which domestic industry accounts for approximately 4 billion. This sector has become strong and stable in various aspects .
Report of 2006: The study shows the consumption of allopathic drugs in the fiscal year 2061/62 (2004/05) has been Rs. 10659 millions. The annual increment of allopathic drugs consumption has been 16.1%..

Quantification of drug, RDL/DDA

Total consumption and annual increment of allopathic drugs Year | Drug consumption | % Growth | 1999/2000 | 5907.00 | 25 % | 2000/2005…...

Similar Documents

Marketing Plan for Hallmark New Product

...1 Executive summary T he new service line of event consulting services, Eventian, is the perfect solution to Hallmark’s problems of limited product portfolio and lack of localization, which may hinder the company’s further development in this market. Little competition and consistency with Hallmark’s culture and values will facilitate a rapid growth of this new brand. Eventian aims to cater increasing needs of emotional expression among friends and families in today’s highly competitive and fast-pace working environment, where more and more people find it difficult to spare time and energy to connect with their loved ones. The primary marketing objectives are to raise the brand awareness among target customers to over 90% and to achieve a market share of over 50%. The primary financial objective is to gain net profit of HK$670,000 by the end of the third year. 2 Table of Content Executive summary ....................................................................................................................................... 1 1. Introduction ........................................................................................................................................... 4 2. Situation Analysis ................................................................................................................................. 4 2.1 Company & Products Introduction .................................................................

Words: 6824 - Pages: 28

New Product Marketing

...The new product that I will be writing about for the purpose of this paper is called Beautiful Hair it is an all-natural chemical free hair dye. Hair care is of extreme importance for women and is starting to become more common for men as well. The hair care industry is extremely competitive with some top competitors such as Clairol and L’Oreal. These are strong brands that are well known and trusted by competitors. When it comes to a product that has an effect on a person’s outward appearance such as hair dye consumers tend to stick with a well know brand and can have some difficulties switching to a new product. This is why having a rock sold marketing strategy is important but it is even more important to have a strong product that will stand out and sell its self with what is has to offer. Hair coloring can provide an instant change to a person’s appearance some we will love and some we will regret instantly and if using harmful chemical based hair dyes you don’t want to make that mistake. The Beautiful Hair product line is a long lasting henna based chemical free hair dye that will guarantee beautiful results. If the consumer decides a week later that they wanted to return to a previous color they could and without the harmful after affects and damaged hair from strong chemicals. The product will enable a consumer to dye their hair as often as they wanted and without the worry of damaging the hair. The all-natural organic products adhere to the hair without stripping......

Words: 1247 - Pages: 5

Marketing a New Product

...customer base. The emphasis in this section is the cost, not the price of the product. This means that the company can make a product fairly cheap but charge the customers as much as they want by making a fairly inexpensive product or service seem really expensive through marketing. The second category, differentiation, is when the organization competes on the basis of providing unique goods or services with features that customers value, perceive as different, and for which they are willing to pay a premium. The last category, the focus or niche, is when the organization pursues either a cost of differentiation advantage, but in a limited (narrow) customer group. A focus strategy concentrates on serving a specific market niche. Based on research about our product and other companies out there with similar products such as ours, we have decided to use the differentiation strategy. The competitive scope is to have a broad target and the advantages we will be using are how our product differs from the other similar products. We feel as if this is the best strategy to use because our product is on the expensive side, which means we will not want to use the cheaper materials just to gain profit, and we do not want to have a narrow target market. We want to be able to give our customers what they pay for as far as quality and we want to reach as many targets as possible, not just a small group. Our product is for anyone and everyone so we want to advertise in a way that grabs......

Words: 1184 - Pages: 5

Introducing New Marketing Products

...PLAN DE MARKETING El plan de marketing debe responder a las siguientes preguntas: Diagnóstico: Dónde estamos y por qué? Objetivos: Dónde queremos ir? Estrategia: Cúal es la mejor forma de llegar donde queremos? Acciones: Qué debemos hacer? Cúando y cómo? Control, Feedback: Qué indicadores debemos medir, cómo debemos comunicar los resultados? Formato para el Plan de Marketing 1.- Resumen Ejecutivo Un breve overview de los elementos principales del plan. - Definición del mercado, Iniciar con el mercado a gran escala (ej. Vitamina C total), identificar el segmento en el que se compite (ej: masticables y efervescentes), definir el target específico al que queremos orientarnos. Puede incluir perfil del producto y del consumidor ahora que se tiene - P&L de años pasados, actual , proyecciones: % incrementos, decrecimientos - Comentarios relevantes, eventos, actividades 2.- Análisis de la situación Macro y micro análisis - Mercado actual, tendencias – Considerar el relevante y donde se compite. Ventas de los competidores principales, market share y actividades; eventos significativos (regulatorio, etc) - Nuevos productos, cambios en el mercado - Performance de nuestro producto vs. la competencia y el mercado - Análisis de percepciones del consumidor (médico, farmaceútico, cliente final)/ insights 3.- Problemas críticos Factores que son críticos para que los objetivos del plan se lleven a cabo. Pueden ser aprobaciones, validaciones,......

Words: 333 - Pages: 2

Re-Launching Products

... HOW TO RE-LAUNCH A PRODUCT SUCCESSFULLY SHREYA. S. PUNTAMBEKAR MBA- I MARKETING B ROLL NUMBER: 36264 CONTENTS 1. INTRODUCTION………………………………………………………………..3 2. CURRENT SCENARIO………………………………………………………...4 3. THE PRODUCT LIFE CYCLE………………………………………...……..6 4. THE MARKETING MIX AND ITS IMPORTANCE…………………...8 5. SO WHY RE-LAUNCH?.......................................................................12 6. PRODUCT FAILURES…………………………………………………………16 7. PRODUCT TAMPERING……………………………………………………..31 8 THE STEPS TO RE-LAUNCH 8.1 STP ANALYSIS……………………………………………………………….34 8.2 THE RIGHT USE OF PUBLIC RELATIONS……………………..…36 8.3 ADAPT TO CHANGE………………………………………………….…...37 8.4 THE RIGHT USE OF PUBLIC REPLATIONS………………………38 8.5 REDESIGNING THE PRODUCT-THE WHAT & HOW…………41 8.6 THE FINAL STEP-THE RELAUNCH………………………………….44 9. CONCLUSION…………………………………………………………………….46 10. REFERENCES…………………………………………………………………..47 1. INTRODUCTION Many people think of a product launch as an event, something that happens with a big bang. The purpose of a product launch is to build sales momentum. A winning product launch delivers sales momentum for your company. But there are very few companies who get it right. A wrongly directed product launch can hamper it to the extent of having to take that product off the market completely. Sometimes, sudden changes in the market also hamper the......

Words: 10275 - Pages: 42

Marketing Plan of a New Product

...Marketing Plan of a New Product ZAP Submitted to: Mahamud zubaer Assistant professor Department of Business Administration Submitted by: Jony Khan | 2010-3-10-113 | Istiak Uddin Ahmed | 2010-3-10-197 | Ashib Mahmud | 2010-3-10-114 | Md. Hasan Imam | 2011-1-10-312 | MD. Rifat Rahman | 2011-1-10-052 | Mohammad Omar Faruk | 2011-1-10-194 | Department of Business Administration Company Name: Jihar Food & Beverage Ltd. Date of Submission: 2 April, 2012. East West University Letter of Transmittal Date: Mahamud zubaer Assistant professor Department of Business Administration, East West University, 43, Mohakhali, Dhaka. Subject: Submission of Marketing Plan of a New Product (ZAP) Dear Sir, We are very pleased to submit this report, which has been prepared for the requirement of the course MKT-201. We prepared this report with pleasure and enthusiasm since this research paper augmented our knowledge about the consumer perception of e-advertising. We have tried our level best to complete this report properly within all the constraints. We concentrated on areas that we believed would be the most relevant to make the report coherent as well as possible. It was a great pleasure for working on this report to learn some real life lessons and firsthand knowledge. We would be glad to furnish you with any clarifications, if required. Sincerely, Jony Khan; ID: 2010-3-10-113. Md. Hasan Imam; ......

Words: 4875 - Pages: 20

Launching a Product in New Market

...MARKETING PROJECT BANK – GROUP 3 LAUNCH OF SME LIABILITIES IN QATAR  This report provides the details on Launch of SME  liabilities in Qatar  A SWOT analysis has been provided to identify  immediate action items.  STP analysis on launch of the product  A marketing plan devised from the 7Ps is outlined in  this report to provide a practical and feasible way to  launch the product in Qatar.  Numerical targets and qualitative targets are stated  clearly as objectives.  Sales Plan  Revenue and Pay back analysis 2 EXECUTIVE SUMMARY Strengths * Well known brand name in local  market * Great SME experience in UAE  market * Well established SME asset to back  launch of liabilities Weakness * Limitation in terms of distribution  network – 4 branches. * Not been fully able to position itself  correctly – More known for Retail.  * Technologically weak in terms of  alternative channels. S.W.O.T Opportunities * Leverage UAE Technology for  differentiation and cost reduction.  * Launch suite of products to meet  E2E requirement of SME clients   Threat  * Local & government banks hold  80% of the market share. * Lower margins on liabilities * Back office support from UAE ‐ * 40% growth expected in SME sector  Slower TATs will adversely effect  in next 3 years. customer experience. 3 SEGMENTATION TARGETING POSITIONING 4  SEGMENTATION Geographic Demographic Psychographic • Different industrial areas of Qatar where  SMEs are highly based. •......

Words: 1424 - Pages: 6

New Product Launch Marketing Plan

...New Product Launch Marketing Plan Joanka Lewis MKT/571 July 1, 2014 Larry Moore New Product Launch Marketing Plan Organic Baby Products are a new product that would allow your baby to be health and safe at the same time. The products are made with only natural ingredients which allow the consumer to feel comfortable about using and purchasing the products. The market segmentation will show how this product is marketed to a targeted buyer PLC Strategy Plan PLC (Product Life Cycle) is defined as the life span of a particular product. It entails of four stages which are labeled as introduction, growth, maturity and decline. The introduction stage is when the product is first introduced on the market. This stage of the cycle could be the most expensive for a company launching a new product ("Product Life Cycle", 2014). The growth stage is when the product is in great demand and sales are steadily rising ("Product Life Cycle", 2014). The third stage, maturity, is when the product is established and the aim for the manufacturer is now to maintain the market share they have built up. This is probably the most competitive time for most products and therefore Team C would need to invest wisely in any marketing they take own. The last stage is called the decline. In the decline stage the market for a product will start to shrink. This shrinkage could be due to the market becoming saturated, or because the consumers are switching to......

Words: 922 - Pages: 4

New Product Launch Marketing Plan Iii

...New Launch Marketing Plan III Executive Summary Coca-Cola continues to be an industry leader in offering and reinventing some of its core drink products in new global markets. The company currently has captured over 50% of the soft drink market and seeks to obtain 55% or better in the next three years. With the introduction of its latest product, millions of new customers can be reached. The New Product Launch Marketing Team is prepared to introduce the “Snatch a Pack” in both the domestic and global markets; with a great push on its Coca-Cola International India’s market. An emphasis is placed on Coca-Cola International India because it is one of the most populous countries in the world and is receptive to international trade. The product is cost-effective, easy to use, and very flexible. Launching the product, “Snatch a Pack” will help the company expand its customer base while increasing revenues by an estimated $2.5 billion. An integrated communication marketing plan will be developed to ensure that market segmentations are identified and communication channels are established. Pricing strategies for the Snatch a Pack will be defined and distribution plans established. An integrated communications marketing plan will be designed, three year objectives defined, and a description of the milestones to be implemented presented for the new product lunch. In addition Coca-Cola New Product Launch Team will create a budget to Market the “Snatch a Pack” and establish an......

Words: 3187 - Pages: 13

Marketing-New Product Development

...Marketing in Business assignment 2013 Cleanse PLC New Product Development Assumptions As the information given by Cleanse PLC is not enough, here are some assumptions. 1. Cleanse PLC’s competitors are local companies in Turkey. 2. Assume that the “Wonder Wash powder” was not selling well because the product did not fulfill the target market (Turkey)’s needs and cultural. Introduction and Background Cleanse PLC is a major producer of domestic washing powders and other domestic cleaning products since 1901. It is based in Manchester in the United Kingdom. The company have been produced a lots of products under well-known domestic brand names. The company owns four production plants in the United Kingdom, each of them specializing in particular products and brands, and to satisfy the growing demands for their products across Europe. The company also has a production plant in Genoa, Italy. The European Board members of Cleanse PLC have invested many millions of Euros into the Turkish production plant for construction and operation. Cleanse PLC has recently acquired an additional production plant located in Istanbul, Turkey. The company did this in an attempt to tap into the growing demand for domestic washing products in Turkey and its surrounding countries. Cleanse PLC’s Turkish production facility mostly produces washing powder with other Cleanse PLC products. The branded washing powder ‘Wonder-Wash’ was not selling well......

Words: 4028 - Pages: 17

Marketing Plan for New Product

...Marketing Objectives The marketing objective of ERRM Innovative Technology is to be established as an expert in the industry providing ECO-Friendly products, helping and educating companies along the way to save money and the environment at the same time. Our product ‘REP v.1’ is ready to be marketed into the government and corporate sectors now and ERRM Innovative Technology believes that ‘REP v.1’ has to be the very first of its kind to be launched. In order to achieve this objective, ERRM Innovative Technology has to showcase ‘REP v.1’ to be effective in recycling all types of the commonly used A4 size paper and highlighting great cost savings and social responsibilities as key points to achieving the marketing objectives. Objective 1: Use of ‘REP v.1’ in at least 2 government ministry by December 2010 In order to relay the ECO-Friendly message to the public and end users, there is no better place to start than with government sector. The usage of ‘REP v.1’ in government offices will pass a very strong intent and message to corporate to follow suit and go the ECO-Friendly path. In con-junction with selling the product to the government, ERRM can make use of the good opportunity to tie up with ministries like Ministry Of Environment; collaboration with the government will only increase the company and products credibility, in turn giving consumer confidence. ERRM can also tag on with ‘The Singapore Green Plan 2012’ (refer to reference Annex A), an initiative by MEWR......

Words: 2411 - Pages: 10

Bmw I3 Marketing of New Product

...BMW i3 Launching Strategy * BMW uses pre-announcement strategy three times in 2011, 2012, and 2013 consecutively before its launching date, 15 November 2013. The first pre-annnouncement date reveals the BMW’s intention to develop BMW-I as a goal on delivering sustainable mobility. One year later, they announce its i-prototype in London’s Park Lane. In 2013, four months before its launching date, they announced the BMW i3’s price. Source: http://www.plugincars.com/bmw-share-more-about-2014-i3-electric-car-127704.html Source: http://www.carmagazine.co.uk/car-news/industry-news/bmw/bmw-unveils-i3-edition-2012-explains-i-strategy/ Source: http://www.autoblog.com/2013/07/22/bmw-i3-to-start-at-41-350/ DATE | COUNTRIES | October-December 2013 | Germany | | Italy | | Spain | | Sweden | | Netherland | | French | | Switzerland | November 2013 | United Kingdom | May 2014 | United States | | Canada | April 2014 | South Korea | | Japan | September 2014 | Mexico | | Brazil | | China | October 2014 | Colombia | November 2014 | Australia | December | Singapore | | Latin America | | | LAUNCHING STRATEGIES Types | Activities | Sources | FANFARES | * The BMW launches a mobile and tablet campaign in order to create real-user experiences. It aims to build a mobile-centric platform which offers a deeper level of brand and content engagement. * Social Media Campaign through Facebook Fans Page, BMW Blog, Website *......

Words: 410 - Pages: 2

New Product Marketing

...Marketing plan for McWendy 1. Company overview As one of the largest fast food corporation in Singapore, McWendy is a chain of fast food restaurant primarily sells taco wraps, salads and bread. While its main focus is fried chicken, McWendy also offers a line of grilled and roasted chicken, side dishes and desserts. McWendy has in the most recent, introduced a new chicken menu that includes chicken toss salads, snack wraps and local delights flavored chicken fries - Hainanese Chicken Fries. McWendy’s slogan is “ We do Chic-Ken Right”. Millions of people have come to love McWendy one of a kind chicken and Singapore style dishes. Essentially, McWendy serves estimated half a million customers every day around the world. 2. Target Audience Description McWendy's has different market segment as compared to street food store selling fried chicken. There is difference in terms of the needs of customers. Singapore being a multi-racial country, McWendy realized the importance of providing the food to HALAL group. McWendy focus on low to middle income group, targeting on men and women age 21 to 30 years old, especially for people with a busy lifestyle. These groups can afford McWendy without bursting their pocket. Hainanese chicken, being the local delights, is not only popular with the locals; tourists who visit Singapore will also be attracted to this new food product. In other words, the new hainanese chicken fries will be an iconic representative in Singapore.......

Words: 1955 - Pages: 8

Marketing New Product, Solar Your Phone

...Executive summary The purpose of the report was to create a proposition for a new product or service that will be in either one of the four industries: tourism, banking, technology or entertainment and leisure. The task is to become the class expert on the product/service and the industry it operates in. Creating a market plan for the product/service begins to enter its introduction stage. Analysing the market and industry, then planning the product and creating the business proposition and action plan will be the following stages of the cycle. As an expert in the technology industry, there was a gap in the industry to launch a product called ‘Solar Your Phone’. Solar Your Phone is a product as well as being a service. There will be a mini solar panel that can be fitted into an individual’s iPhone, which will allow it to charge and gain power in a sustainable way. The service part of the product will be getting the solar panel fitted into your phone. Technical experts that have full knowledge on the product itself will do this. Once I have compounded all the data I will then be able to identify strengths and weaknesses for Solar Your Phone as well as the competitive market. This will allow me to see where ‘Solar Your Phone’ will be able to impact the market most productively and efficiently. GSMA released a report revealing that “a US$2.3 billion* opportunity for mobile operators through the provision of off-grid charging solutions such as solar phones or external......

Words: 2195 - Pages: 9

New Product Launch Marketing Plan

...expand manufacturing. (sramanamitra.com 2014) The growth efforts include app developments that have created improvements with iPhone, iPad and Android programs. The customer service overall have improved allow further growth. There new colors and layouts have that includes audio note has put them ahead of competitor and have put the digital photo giant on top. Their growth has also allowed new facilities been open across the country. International Growth Shutterfly growth globally has taken on a global execution and that has allowed international market access. Through very creative project management, shutterfly have allowed cost effective international market and have created language variation and has provided customer support in all aspect making it easy to access, allowing the brand consistency and great value. This have help the organization to grow globally and has helped in its branding. It has also allowed its global capabilities to be well known and trusted. (businesssolutions.shutterfly.com) Domestic -Potential Competition A potential competition for shutterfly lies in the likes of digital photo giant Snapfish. Its convenience, unique templates and its simply use males it a potential competitor for shutterfly. It has made its product very easy to use making it likable to all. However shutterfly popularity due to its consumer loyalty stands firm and its unique method of creating a photobook that is like no other. Shutterfly has remained on top because of its......

Words: 438 - Pages: 2