MARKETING PLAN OF PRODUCT LINE EXTENSION
‘‘A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or service, a brand, or a product line. Marketing plans cover between one and five years. A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use''.
Cirin Pharmaceuticals (Pvt) Ltd.
1. Vision Statement.
‘‘our vision to make Cirin a well trusted name, in the medical profession by manufacturing, the highest quality medicines through good manufacturing practices, our aim is to be a high technology industry to contribute in improving the quality of life of the people of Pakistan''.
2. Mission Statement.
‘‘Cirin is not just another business proposition for a group of investors. It is intended to be more than a mere profit-making-project. It represents an idea - a vision - of ambitious entrepreneurs, combining their intellect, financial resources, and efforts to form a “national” pharmaceutical manufacturer par excellence; an establishment capable to meet healthcare needs of common Pakistanis and that too with quality matching with products available in developed world''.
Ref: - http://www.cirinpharma.com/history.htm.
3. Executive Summary.
I am introducing you the new product line extension of the Current most running product i.e. Vitacal 1000 C and Vitacal Extra and its product line extensions Brand name is Effercal and Effercal plus and will try to ensure the quality, nutrition, and good taste like Vitacal 1000 C and Vitacal Extra. By going on extension from our unique products Vitacal 1000C and Vitacal Extra Sachet pack to Effervescent tablet form. By launching Effercal and Effercal plus we can serve the customers in a batter way. Effercal and Effercal plus is an innovative and fantastic product by CIRIN PHARMACEUTICALS (Pvt) Ltd.And definitely we will try to position this product as a market leader .By launching Effercal and Effercal plus we will try to get good market share and good name in Pharma industry that will boost the company profile and will improve the overall image of the company.
Brief Introduction of the Company.
Cirin pharmaceutical is a Pakistan based company and manufacturing pharmaceutical products .Its Head office is in Islamabad and its manufacturing unit is in Hatter. The Director of the Company is a self made person and he started his carrier as a medical Representative from Beecham Pharma and after that in December 1991 he become a Sales Director of a Cirin Pharmaceuticals (Pvt) ltd . Initially he started business from major Cities of Pakistan like Peshawar, Rawalpindi, Lahore, Multan, Karachi, and Quetta which expands to almost every city of Pakistan.
Organisation back ground.
‘‘The company launched in Dec.1991.Mr.Muhammad Yousaf Shanwari, Mr. Khawaja Abdul Basir, and Mr. Munim Sultan (founder members) of the company they are all present in the Ground breaking ceremony held in Hattar in Jan 1993.In September 1994 Ministry of health awarded Licence for manufacturing drugs to Cirin Pharmaceuticals. In Jan 1995 first batch of marketing executive and medical representatives were inducted for the promotion of medicines. From February 1995 to 2000 company started manufacturing different products like syrups injectables,tablet capsules etc and in December 2001 company Cross 100 million sales for the First time and its was the good achievement for the Company who was just 5 year old more over in 2004 Company got Certification of ISO9001 and its was the second very good achievement. In 2005 Cirin new Sterile area started production and so on up to 2007 and in October 2007 Company Cross 200 million sales and it was fantastic achievement in just 10 months of a year and after that Company launch many products and now the position of the Company is 66 in list of Pharmaceutical Companies of Pakistan in 2007 and growth speed is very good and that day is not too far when Cirin Pharmaceuticals will be in top ten pharmaceuticals companies in Pakistan''.
Cirin Pharmaceuticals have variety of products like Cephalosporin's, in injections, capsules, syrups, drops and tablets as well and most of other products as under:-
* Fluoxetin Capsules
* Fotax Injections
* Ceptin capsules, tablets, syrups, injections.
* Sakoon tablets
* Anpra tablets
* Fortecin tablets, Syrups & Injections.
* Vitacal 1000C
* Vitacal Extra etc
* Zeemox Capsules, tablets, injections, syrups & drops.
* Zepsin tablets.
* Cefcin injections.
* Kapcin tablets
* Clocit tablets
* Imedia tablet
* Calfo V Sachet etc
And mostly companies have calcium supplement for marketing and different brands are available in the market and they are getting good share from this big market like
* Government Hospitals
* Semi Government Hospitals
* Private Hospitals
* Health Centres
* Free Dispensaries
* Trust Hospitals etc and you know the population of the Pakistan is around 180 million and almost 70 % of total population is situated in rural areas and they are very poor. they don't have any basic
Education. They are too poor to get any expensive treatment in case of sickness. The diseases like Osteomalacia, Rickets, Osteoporosis etc are very common in women and children and it is due to lack of balance diet. So due to non availability of calcium and vitamins in their food they became patient of the these above mentioned diseases so due to poverty they can't get expansive treatment privately so for this they tend to go in Government hospitals, rural health centres, etc where Govt.have facility for poor to get free medications etc . So Government hospitals, Rural Health centres(RHCs), THQs,DHQs etc are the potential segments where we can penetrate and can try to get their contract for purchasing of Effercal and Effercal plus.
Vitacal 1000 C and Vitacal Extra's top competitors are High C1000, High C plus ,CaC 1000 and CaC 1000 plus and VC Cal and they are enjoying a good market share while Vitacal 1000 C and Vitacal Extra's sales are 5% of total Calcium market, Which is nothing and by launching Effercal and Effercal plus we can increase our share from 5% to 20% which is looking difficult but not impossible with this unique, fantastic product and with talented well trained skilful marketing team?
The key features of our Effercal and Effercal plus is as under:-
* Effercal and Effercal plus is an effervescent tablet.
* Effercal and Effercal plus is Sugar free tablet good for those patients who are suffering from
diabetes mellitus and those patients who are weight conscious.
* Effercal will be available in different flavours like Strawberry, Orange, and Banana which is mostly like by children, old women and pregnant women as well.
* Effercal and Effercal plus packing is very unique it is available in traditional pack of 10 of plastic bottle but the bottles used for its packing are special one and is imported from Switzerland and the bottles are made from new material and not from recycle material which shows how much company is caring about the patients health and safety.
* And last Effercal and Effercal plus price is very economical and affordable that everyone can afford it easily so there is no Burdon on pocket.
I. Marketing strategy.
‘'Marketing Strategy is a process that can allow an organization to concentrate its limited
resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy should be centered around the key concept that customer satisfaction is the main goal''.
As you know that our Vitacal and Vitacal Extra is liked by the doctors and they love
to Prescribe these products to their patients but we are capturing only 10% share of total calcium market competitors are as under
Ø High C 1000 14%
Ø High C plus 11%
Ø VC Cal 20%
Ø Cac 1000 36% etc
With the launching of Effercal and Effercal plus we will try to snatch the more 5% share from competitors in First year as our mostly customers are domestic women children and old patients and mostly these patients are poor and they always go to govt hospitals, health centres , etc and we will target these segments to get the govt contract for selective hospitals and when our product become more common as every doctor will tend to prescribe this product while on job in hospitals. they will automatically prescribe this product while practicing in their private clinics and its sales will boost like anything, and in 2nd year we will add more Govt. hospitals, Semi Govt hospitals and Health centres, in this way we cover more area and will try to get about 10% more share in this year and overall we will get 25% share from Calcium market and we will become a very strong competitor in Calcium market.
Ø Target Market.
As you know the Calcium supplement market is too big. As mostly companies are playing
their role and getting good share from calcium market and its different segments as under:-
Ø Gynaecological units
I. In pregnant women
II. In lactating mothers
III. After Delivery Calcium requirement increase in mothers.
Ø Orthopaedic units
I. For the patients who have fracture in bones.
II. Bone and joints problems.
III. For the quick healing of broken bones calcium is required.
Ø Paediatrics departments
I. Children have deficiency of calcium in the body.
II. Children having Rickets.
III. Growing children basic requirement is calcium.
Ø Medical Unit
I. Mostly patients in old age have a problem of osteoporosis so calcium is the basic need of these patients.
II. Mostly calcium is used in Osteomalacia.
III. In old age or in young age mostly patients have calcium deficiency due to lack of balance diet so their diet have lack of calcium and its deficiency lead to many diseases like Osteomalacia, Rickets, and Osteoporosis etc so calcium is the basic requirement of every women,child,old man and women, lactating mothers,etc.
So you know this is a very big market in which we can play a good role and can boost out revenue by selling product in maximum number of units.
Ø Marketing Mix.
‘‘The term Market Mix Modeling was developed by Neil Borden who first started using the phrase in 1949. “An executive is a mixer of ingredients, who sometimes follows a recipe as he goes along, sometimes adapts a recipe to the ingredients immediately available, and sometimes experiments with or invents ingredients no one else has tried." (Culliton, J. 1948)
According to Borden ,"When building a marketing program to fit the needs of his firm, the marketing manager has to weigh the behavioral forces and then juggle marketing elements in his mix with a keen eye on the resources with which he has to work." (Borden, N. 1964 pg 365)''.
We will introduce Effercal and Effercal plus in Start of March and actually this is
The best Time to launch such type of medicine as summer is about to start and intake of water increases and this is right time to launch the right product and we will try to achieve our set objectives within 6 months.
In First month we will make its sample pack and will distribute it to Out patients wards that is OPDs, of Gynae, Paeds, Medicine, Orthopaedics, etc.
In Second month we will select the most potential doctors or consultants from major areas and will arrange to give them a good Gifts like Wall Clock, Paper weight as product name is written on it, Pens, Weighing machines, Stethoscopes, Prescription Pads etc along with the free samples pack and arrange free camps outside of these consultants and we will make sure that our promotion team will visit these consultants at least two times in a week.
In third month we will arrange free camps in private clinics of Potential GPs and will follow this campaign very strongly and will make sure that out sales promotion team will continue to visit those doctors on regular basis at least one times in a weak to get the feedback of this launching and giving the strong reminder about this unique product and improve our self after getting feedback from the prescribers.
In Fourth month we will arrange some sort of Seminars or Symposiums and will invite the trend setters (Consultant to whom General Practitioners follow them) and they will give their own feedback about Effercal and Effercal plus and share the experience with audience, it will cause good awareness about the product and the Company as well.
In Fifth month we will give prizes to good sellers and it will come from bottom to top like sale representative, Area managers, Regional managers, Zonal Managers etc.for their motivation and enjoyments.
In Sixth month we will invite those consultants, General practitioners, etc with family to a very nice hotel to give them a nice and cool dinner in recognition & appreciation of their efforts and prescriptions.
Ø Marketing Research
‘'The role of marketing research in managerial decision making is explained further using the
framework of the "DECIDE" model:
D Define the marketing problem
E Enumerate the controllable and uncontrollable decision factors
C Collect relevant information
I identify the best alternative
D Develop and implement a marketing plan
E Evaluate the decision and the decision process''.
By using DECIDE model we will define the market problems regarding Effercal and Effercal
Plus, and enumerate those factors which are controllable and uncontrollable and will collect the required
Information about that and will identify the best solution for the benefit of customers and will develop
And implement the alternative marketing plan and after that we will see the outcome of the decision and
Its process will be monitored itself.
Financial matters include budgeting forecasting, marketing, planning ,promotion etc Effercal and Effercal plus unit price is set Rs.46/- per unit and First year sales revenue is set for this particular product is Rs.50 million & I hope that with this current talented and skilful team i am sure that we will achieve our set objectives.
I. SWOT analysis
This is the process which is used to evaluate the Strengths, Weaknesses, opportunities and threats
involved in any project or business plan.
There are two parts of SWOT analysis.
ü Internal Factors
Effercal and Effercal plus has many strong features by which it will be accepted by the doctors and like by the patient and these strong features are the strength of this brand.
The less awareness of brand is the major weakness and we have to make sure with our working that every doctor, every retail store and even in whole sale market everyone should know that Effercal and Effercal plus is launched and our experience team is promoting it.
ü External Factors
The Strong and good feature will become the benefits to patients like Effercal and Effercal plus is Sugar free, Effervescent, have different flavours and good taste and above all it is economical so easy to buy.
Competitors are the main threats so for this we have to work hard to promote Effercal and Effercal plus and make sure its regular reminders to the prescribers.
‘'Control is one the managerial functions like planning, organizing, Staffing and directing. It is an important function because it helps to check the errors and to take the corrective action so that deviation from standards are minimized and stated goals of the organization are achieved in desired manner.
According to modern concepts, control is a foreseeing action whereas earlier concept of control was used only when errors were detected. Control in management means setting standards, measuring actual performance and taking corrective action''.
By using controls functions we already made planning that how to market the product and how to promote it in different part of the areas so for this promotion we have a well trained experience staff so we will give the Rs. 1000 incentives on over all achievement of their stipulated targets or unit wise incentive like if any one achieve the unit wise sale like 250 units so company will give them Rs.3 per unit incentive of this particular product and for all these thing we have to give them some direction regarding promotion of Effercal and Effercal plus.
‘'Implementation is the realization of an applications or execution of a Plan, an idea, Model, Design. Or Policy''.
Now as you know that who plan is in front of you and with launching of Effercal and Effercal plus we can make our place strong in the market and this unique featured product will boost the company image in overall Pharma market moreover by achieving out set objectives we will get good revenue by which we can improve our factory production area, we can think to launch another product line extension on Zepsin which is tablet form but i am thinking to launch its extension form that chewable tablets with strawberry flavour and with this feature patient can take it without water any time anywhere but this product will be in the market in near future soon.
Ø Marketing Organization
Marketing department is responsible for all the implementation of planning and marketing strategies and Mr.Khawaja Abdul Basir Sales Director will look all these matters personally like promotions, sales Target, Achievements, customer's complaints, Distribution problems etc and will handle all public activities regarding this particular product.