1. 10 STEP Marketing Plan forTHE GENERICS PHARMACY Caroline P. Quarte June 2011 www.carolinequarte.blogspot.com 1
2. Disclaimer This 10 Step Marketing Plan is part of the mandatory requirements of Prof. Remigio Joseph De Ungria’s AGSB marketing management class. The data included in this report are based on publicly available data such as those on internet websites, news, package declarations, public reports. When appropriate, data are “masked” so as not to create unexpected conflicts. The reports are posted and linked on slideshare, blogs and facebook so that there is easier sharing among students from different marketing classes. 2 www.carolinequarte.blogspot.com
3. Steps 1 to 5Generic drugs: cheaper and effective. PTM:Filipinos who are struggling with the high cost of medicines. NWD: They need quality, effective, and affordable medicines. They can choose from Mercury Drug, South Star Drug, Watsons, and other local drugstores. Gap: Major drugstores’ products are around 90% branded and only 10% generic Generic drugs have a market share of 31% 3 www.carolinequarte.blogspot.com
4. Steps 6 to 10No need to struggle with the high cost of medicines Product: The Generics Pharmacy Price: Relatively lower than branded medicines. Promo: Radio, TV, and print Place:Now with 1000 outlets open Strategy: Focus or niche strategy 4 www.carolinequarte.blogspot.com
5. 1. Generics Pharmacy’s Primary Target Market Demographics: Age range – 18 to 65 years old Sex – male / female Social class – B, C, D, and E Marital status – no specific status 5 www.carolinequarte.blogspot.com
6. 1. Generics Pharmacy’s Primary Target Market Lifestyle: (those who want to achieve a) Thrifty lifestyle – those who are budget conscious, who wants to save money and cut their expenses but does not want to miss out quality. 6 www.carolinequarte.blogspot.com
7. 1. Generics Pharmacy’s Primary Target Market Behavior: Products sold in Generics Pharmacy are medicines. After several takes or what is prescribed by the doctor, consumers might be well or might feel better. 7 www.carolinequarte.blogspot.com
8. Describe your PTM needs When I am healthy, I can realize my full potential. I can focus on what I am meant to do in life. When I am able to buy the medicines I need, I feel safe and secure. Medicines can cure my sickness. It can provide the basic need of being healthy Reference: Maslow’s Hierarchy of Needs Marketing Management, 11thed, Philip Kotler 8 www.carolinequarte.blogspot.com
9. 2. Cheaper medicines: the need, the want, and the demand Needs: The PTM has Physiological,Safety, and Self-Actualization needs. Wants: The PTM wants an effectivemedicine. They want medicines that has quality. Probably from a brand that is already trusted. They want all these to be accessible and affordable. Demands: For the PTM to finally decide to buy the product, the product should have a trusted quality. It should be a an effective product that is also affordable. And, these should be available from a store that is accessible to them. 9 www.carolinequarte.blogspot.com
12. Variables – price, effectiveness, quality, brand, and accessibility10 www.carolinequarte.blogspot.com
13. Position Map as of 2011 Price vs. Branded Medicines Matrix 11 www.carolinequarte.blogspot.com
14. Benefit positioning vs. Brand map for drugstores as of 2011 Benefit Positioning vs. Brand Matrix 12 www.carolinequarte.blogspot.com
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16. What NWDs are not being addressed? Affordability of trusted medicines
17. Unique selling proposition for the new product: Reinforce generics awareness, partner with government agencies, and help in ensure that doctors prescribe generic medicines.13 www.carolinequarte.blogspot.com
18. 5 Estimated market size of Mercury Drug Corp Mercury DrugGross Revenue: Php 72,155,744* Mercury Drug is estimated to sell as much as 60% of all medicines sold each year in the country. The company sets up fully computerized warehousing, inventory, and ordering systems. *based on Philippine Business Profiles and Perspectives Inc.'s Top 7000 Corporations: Business Profiles 2009-2010 Edition. 14 www.carolinequarte.blogspot.com
19. 5 Estimated market size using company data The generic drugs business already has an estimated market share of 31% 15 www.carolinequarte.blogspot.com
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21. At this rate, family expenditure might be around 21 million this year.16 www.carolinequarte.blogspot.com
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23. Mercury Drug’s Gross Revenue: Php 72,155,744***http://www.tripleiconsulting.com **Philippine Business Profiles and Perspectives Inc.'s Top 7000 Corporations: Business Profiles 2009-2010 Edition. 17 www.carolinequarte.blogspot.com
24. 6a. Photo of product category Atorvastatin is the generic name of Lipitor Lipitor is used to treat high cholesterol. Biogesicis used to treat mild pain Paracetamol is the generic name of Biogesic GENERIC BRANDED 18 www.carolinequarte.blogspot.com
25. 6a. How competition looks like INDIRECT DIRECT 19 www.carolinequarte.blogspot.com
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27. They believe that health is not a privilege, but a basic right of every Filipinos.
28. TGP is an advocate of making medicines accessible to all.20 www.carolinequarte.blogspot.com
46. Steps 1 to 5Generic drugs: cheaper and effective. PTM:Filipinos who are struggling with the high cost of medicines. NWD: They need quality, effective, and affordable medicines. They can choose from Mercury Drug, South Star Drug, Watsons, and other local drugstores. Gap: Major drugstores’ products are around 90% branded and only 10% generic Generic drugs have a market share of 31% 30 www.carolinequarte.blogspot.com
47. Steps 6 to 10No need to struggle with the high cost of medicines Product: The Generics Pharmacy Price: Relatively lower than branded medicines. Promo: Radio, TV, and print Place:Now with 1000 outlets open Strategy: Focus or niche strategy 31 www.carolinequarte.blogspot.com
