7. Pfizer introduced an anti smoking drug called Champix in India. . It is a prescription drug that will be promoted only through doctors who will be informed of its risks carried in its labeling. Smoking is expected to cause 930,000 adult deaths in 2010 in India and given the growth in population, there will be a million smoking-associated deaths every year thereafter. At Rs 9,500 for the three-month treatment, it doesn’t come cheap. Two studies have shown that 44% of smokers who went through the prescribed 12-week treatment quit smoking. However, US regulatory issued warnings on the drug due to the many side effects associated with it such as mood fluctuations, abnormal behavior, heart attacks, loss of memory.
8. Homeopathic treatment is also available in India. However, it contains oils like Ylang ylang, rosemary, peppermint and Eucalyptus which need to be mixed with alcohol and diluted amounts of nicotine.
10. Yoga helps people in exercising control over mind and body. Because of this, people they are able to overcome their stress and hence they are not addicted to smoking.
17. There are few buyers, so buyers are powerful. The buyer’s can at times reject the product because of its pricing. This product is not standardized, so buyer’s can easily switch to another product.
20. This product actually does not need any kind of external suppliers. We can have our own nurseries and grow the herbs required for making the product.
29. Steps involved while arriving at the final price:-
30. Objective - Low price Compared to the US since we want to penetrate the market and grab the market share. So, we assume that low price increases volume of sales and discourages actual and potential competitors.
71. Society: - The product is helpful to the society because this product will protect the society and environment from pollution and moreover it is a very eco- friendly product as it is pure made of herbs. The product is a kind of boon to society as it has all the benefits it protect the life of consumers who are everyday ruining their life by moving one step towards the death.
72. Government: - The product will reduce government revenue because most of the government revenue comes from high taxes on tobacco products, around 400 billion India has 300 million smokers and revenue is around 400 billion rupees but on the other hand as it is good for society and benefits the society so government will help in promoting the product. Moreover India is committed to reduce the tobacco consumption, recent laws to restrict public smoking is an example.
73. Legal Environment: - There is no such legal restriction on the product because it is a purely herbal product that prevents a person from smoking. Only products made from tobacco are bounded by legal rules and regulations non tobacco products do not face any such kind of restrictions. Licensing for any global product is required. Any global product need to seek the government licensing before entering into any new or local market .So licensing for the product is required.
74. Market Environment: - As it is a completely new product which is first time being launched in India. Before it only one such anti- smoking product was launched in India by Pfizer but that product was couldn’t gain popularity speed because of its side effects moreover the product was not an herbal product. In India this is the first anti-smoking herbal product so it is a monopoly for the product. If we launch the product in India it we will hold a stake in the market as it is the only anti-smoking product made of herbs.
76. We feel this product would definitely be a huge hit in the current Indian market. The reason being that the government here is striving hard to reduce the tobacco consumption. Indian government has already imposed restrictions in some cities upon smoking in public places. Also, we would get support from the NGO’s and other social organizations which are trying to prune the tobacco consumption in order to improve the health of people as well as protect the environment. Since it is the only anti-smoking product in India with a herbal touch, it is almost a Monopoly. Smok-ox is all set to hit the Indian market with a bang and now “Smokers can quit Smoking Naturally”.