In 2008, a marketing and positioning strategy was needed for Cambridge Sciences Pharmaceutical’s (CSP) new weight loss drug called Metabical. Metabical was touted as being a revolutionary weight loss drug with fewer negative side effects than the usual medicinal weight loss remedies. Metabical has many levels of decision-makers – both internal and external. CSP’s senior director of marketing, Barbara Printup likely reports to the company’s board of directors for her ultimate authority. Printup receives her directions for the Board and then delegates them amongst her subordinates in marketing and sales. During the development phase of the product, Printup was likely constantly in touch with the research and development (R&D) department at …show more content…
If the company were to send sales representatives to doctors offices around the country, they could mention that their drug is one of the few FDA-approved weight loss drugs with clinical results to back up weight-loss claims[4]. The sales people could also mention that unlike other weight-loss pills, some prescription drug plans would cover the cost of prescribing the pill to patients (with hopefully more to come after a 6-month sales evaluation). According to the 2007 research study by CSP, many men and women alike had failed to reach or maintain their weight-loss goals. Metabical had an answer for that: a support program that complemented the pill. The goal of the program was to give better results than what the pill alone could give. The support program gives CSP a significant advantage of their competitors in the market place because it would significantly enhance Metabicals’ users abilities to reach and maintain their weight-loss goals. Metabical users would have access to online weight-control tools (calorie counters, etc), meal plans and exercise plans. There would even be a community forum where members could get personal support from other members. Physicians agree that many patients need help losing weight. One healthcare provider said, “I am impressed with the tools and customized action plans provided in the proposed support program[5].” In order to position the product properly, it might be best to not emphasize the pill aspect of
It works on predictions of performance that are normal to all participants and would likely occur. It is all about guessing what the competitor can or cannot do which means that the decision made will not be optimal. Decisions are based on predictions and assumptions which depend on initial conditions that are liable to sudden changes due to multiple of factors.
The strategy was to offer low price in the market which led to setting the lower prices. Niche marketing was used in setting the prices to be offered for the different market segments. Products with market target specifications are availed. The low-cost strategy was applied to set up the budget of the firm. It would use the least possible production budget to cut the price of products. The combination of strategies assists in maintaining a key position in a market. Compete effectively with opponents.
The fallacies in this ad are that this pill will not get you the results that you see these have just by strictly taking these pills as directed on the bottle. We all know that you must no matter what these ad say have proper diet and exercise in order for these pill to work there is no miracle pill that will allow you eat what you want to eat and still get the results that you see in the ad.
Most countries don't allow drug companies to advertise directly to patients. In the United States, however, direct-to-consumer (DTC) advertising of prescription drugs is completely legal. The article "Should prescription drugs be advertised directly to consumers?" questions the validity of this decision and provides several different examples of the advantages and disadvantages of DTC prescription drug ads. There are both positives and negatives associated with the advertising of prescription drugs.
It is also the responsibility of the patient to ask questions and educate themselves on the drugs being prescribed. Advertisement of any sort whether it demonstrates the benefit or a drug or something else, advertisement bring awareness to consumers. The Pharmaceutical companies are bringing awareness of diseases and disorders to the consumers who could potentially be unaware of their existence. According to D. Brad Wright of the Huffington post Direct-to-consumer advertising may even trigger a reminder for those patients already taking medications to take their medications or even renew their prescriptions
The book “Melal “by Robert Barclay takes place in 1981 in The Marshall Islands of the South Pacific. The people known as the Marshallese are the natives to these islands. Overtime other cultures began to settle on these islands also, such as the Spanish, Japanese, and Americans. Out of these three cultures the Americans were the most domineering and devastating to the Marshallese people. The Americans took over the Marshallese native land and forced all of them to live on one island in deplorable conditions. The Marshallese had their freedom revoked from them; they then had to live under the Americans rules. Two of the Marshallese characters in this story who believes strongly in withholding many of the native
There are only several other weight-loss options in the market competing with Metabical. The first is prescription drugs. These are prescribed for use only by obese and severely obese individuals. This meant that only individuals with BMI of over 30 who were prescribed weight-loss drugs were using appetite suppressants and fat-absorbing blockers. They had serious side effects associated as well, which meant only a doctor could approve them. But these prescription-drug options did not account for the overweight segment with
The important issue here is to build awareness of Metabical for the consumer, and then make sure that the consumer knows enough information about it. The more the advantages of safety, FDA approval and long term results due to the support program are advertised the easier it becomes for the consumer to like Metabical, and prefer it over Alli, or others. Once it becomes in the consumers consideration set he/she might develop the conviction to buy it, and eventually purchase it at the end. This hierarchy of effects model helps in knowing where to fit advertising. Media and the TV ads would spread knowledge and awareness to consumers (Direct to consumer advertising). Also the print ads in medical journals would help raise awareness amongst medical practitioners. The promotions like the informational pamphlets and the two high profile medical education events would also help in contributing to health care provider preference. The viral marketing campaign: Metabical Challenge contest and the contestant blogs in the social networking sites would greatly enhance consumer knowledge and preference as well. To succeed; it’s important to understand this hierarchy of effects: THINK, FEEL, and DO that the consumer goes through.
“Come on! It’s simple, just get up off your butt and stop eating so darn much,” a common phrase used when with addressing modern obesity. Yet, this fairly recent epidemic continues to plague and destroy around 93 million Americans (The Issue). Although, with Michael Obama’s “Let’s Move” Campaign making a head wave, the hope for a healthy tomorrow has been restored in the hearts of many Americans. Along those same lines it seems that these days you cannot turn on the TV or Radio without seeing an ad for this Gym or that weight lost supplement. Such items and services also suggest that we as individuals can exercise and never worry about the big, bad condition known as obesity. With all these resources,
They want to enter the market for weight-control products in the US. Metabical was part of a strategic initiative that allows CSP to enter $3.74 billion market for weight control products in the United States.
A business must be highly competitive in the business markets today. For a business to grow successfully, remain sustainable, and competitive a business needs a good understanding of a marketing plan, and the knowhow to put the concepts to work for the business achieving a successful marketing strategy. Remaining successful when an economic growth has leveled out shows a sustainable business. Competitors that follow the same marketing concepts will need to develop a good marketing plan, and implement the concepts into a marketing strategy to remain a competitive business. A good marketing strategy contains a marketing plan describing the products offered, and taking into account
To see how potential customers would respond to Metabical, Printup decided to project demand using three approaches. The first approach is looking at the number of overweight individuals in the United
The health care provider is a vital component in patient decision making and in the success of Metabical. As patients begin to ask their doctors about the drug, CSP needs to ensure that physicians are properly educated about Metabical and its benefits. Additionally, doctors can have significant influence not only over their patients but also over insurance companies and the general public by supporting Metabical and substantiating it’s claims. I would position the drug as a supplement to doctors looking to advocate a healthier lifestyle for their patients. It’s important to use all the different advertising concepts so health care providers are able to understand the different elements of Metabical. It is a clinically proven and FDA approved weight-loss drug that is a safe alternative to dangerous OTC drugs. Doctors now have the ability to empower patients to change unhealthy eating habits and achieve long-term success. The simple once-a-day pill in combination with the comprehensive support program can
The proposals that we are going to depose are a planning of continuous action in order to confront the challenges, which BT confronts. The most important factor is considered to be the fact that the marketing environment changed rapidly after the deregulation of the telephone industry. Up to then BT was operating as a monopoly, ignoring the competition and ways to face it.
Pharmaceutical companies should attempt to be as transparent as possible when marketing prescription drugs to the public. Their marketing efforts should not only convey the benefits of the prescription drug, but also easily convey the possible risks associated with the prescription drugs. Many patients may tend to think the benefits outweigh the potential risks of prescription drugs and may pressure their physician to prescribe it. Due to the way the prescription drug is marketed, the consumer may believe the