Marketing Plan Of Pizotifen

Segmenting, targeting & positioning for Pizofen

Acknowledgement

First of all we bow ourselves before almighty ALLAH, the merciful & beneficent for empowering us to start & complete this assignment. I wish to express my gratefulness to Abdur Rob, Senior Executive, Product Management Department for his constant guidance during the study. It is a great privilege to us to express our sincere thanks to Mr. Abul Kalam, PMD & Export Manager, cooperation and material support during our study.

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Segmenting, targeting & positioning for Pizofen

Table of content 1. Navana Pharmaceuticals at a glance 2. Introduction 2. Objective of the study 3. Methodology of the study 4. Strength & weakness of the Navana Pharmaceuticals Ltd 5. Strenght & weakness of the Pizofen (product) 6. Segmenting, Targeting & positioning of Pizofen 6.1. Segmentation 6.2. Targeting 6.3. Positioning 6.4. Marketing mix 6.4.1. Product 6.4.2. Price 6.4.3. Place 6.4.4. Promotion 7. Recommendation 8. Conclusion 9. Source

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Segmenting, targeting & positioning for Pizofen

1. NAVANA Pharmaceuticals at a Glance Navana Pharmaceuticals is one of the reputed and leading companies; Navana commenced their business activities on a larger scale by setting up their factory in Rupshi, Narayangong, in the year of 1990. Operating its activities for over the last 19 years, the company is trying to significantly contribute towards the augmentation of the standard of living by bringing high quality medicine at the door step of their customers. The commercial production started in April 1992 with 8 (eight) antibiotic products Right now Navana has more than 150 products with different dosage form like Tablet, Capsule, Syrup, Suspension, Injectable preparation

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Segmenting, targeting & positioning for Pizofen

2. Introduction Navana Pharmaceuticals is a reputed medicinal product manufacturing in Bangladesh. Navans’s one of the most popular brand is Pizofen. They segments Pizofen’s market according to doctor potentiality. Navana targets the specialized practitioner. Tactical marketing tools, 4P’s, are extensively used by the company to market Pizofen. The product is available in two different strength under tablet form. The price is affordable by most of the people. Navana Pharmaceuticals has well established distribution channels to distribute Pizifen in massive bulks amount. It undertakes the largest promotional activities in the Pharmaceutical industry. The anti-migraine has a few major producers of which Navana holds market share of slightly less than 35 %. Other competing brands like Avidro, Pizo-A, Migranil, Navana, with the aid of its heavy promotional activities, has been able to penetrate the market. But the other producers in the industry are posing a threat towards Navana’s market share as they have moved towards the general promotion to all doctors. Therefore, Navana Pharmaceuticals should undertake further steps such as moving towards the general practitioners segment with innovative promotional activities to its command in the industry.

3. Objective of this report This report is an outcome of an analysis of marketing strategies used by Navana Pharmaceuticals Ltd. The main purpose of the report is to find what strategies the company uses to market its successful brand Pizofen, in Bangladesh.. The report discusses the process of using market segmentation, target marketing, positioning, the product, pricing, place, promotional and distribution strategies and a competitive analysis.

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Segmenting, targeting & positioning for Pizofen

4. Methodology of this report For accessibility and availability of information we have chosen to work on the strategies of Navana Pharmaceuticals Ltd... As the company operates in the market with a huge number of products, we have decided to focus on one of successful brands, Pizofen. Most of the information used in this report is from primary sources. The main source of information was the focus group discussion.

5. Strength & weakness of Navana Strength:  Good relation with doctors through skilled Medical Promotion Officer (MPO) & Medical Service department  Strong distribution network through the country.  Innovation in Product Packaging & product promotion.  Sate of the art equipments  ISO 9001:2000 certification & maintaining Current Good Manufacturing Practice (cGMP).  Navana Pharmaceuticals is the sister concern of Islam group which is the one of the largest group in Bangladesh.  A large field force for wide coverage of area.

Weaknesses: •

Customer lists not tested.

•

Some gaps in certain therapeutic groups

•

Need more sales people.

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Segmenting, targeting & positioning for Pizofen

6. Strength & weakness of Pizofen Strength: •

Patient compliance: The price of Pizifen is affordable to maintain long term treatment & it is offered in two strength which offers wide range of treatment options.

•

Safety profile: Pizifen is safer than any other indirect competitors brand available in the market.

•

Has no habit forming effect compare to other anti-migraine drug

•

First time in Market: Introduced first time in Bangladesh

•

Fewer side effects which convey the doctor to prescribe confidently for his patient

•

5Suitable for long term use to manage migraine

•

Suitable for young children

Weakness: 1. Weight gaining for long term use

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Segmenting, targeting & positioning for Pizofen

7. Market Segmentation, Target Marketing and Positioning

7.1

Market Segmentation: The company claims that Pizofen is the highest selling Anti-migraine brand in Bangladesh. Moreover some survey reports also reveal the same result. Though Pizofen is the highest selling Anti-migraine product in Bangladesh, it does not go for traditional mass marketing as an OTC (over the count) drug. As Doctors are the first customer of Pharmaceuticals products/medicine & what they are prescribing for his patients, they just purchase according to prescription. So, the company segmented the market of this product into four types

Rural practitioner (doctor cum chemist, LMAF): In village area poor people come to this type of practitioner with different minor case like fever, headache, and pain etc but they are not skilled enough to diagnose any severe or critical diseases. General practitioner: This group is having MBBS degree but they are not specialized on a particular therapy. Patients with mild to moderate type of diseases visit them. They actually treat all type of disease without complexity but they are large in number of all type of doctors.

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Segmenting, targeting & positioning for Pizofen

Specialized practitioner: Specialized doctors are handling more complicated & where others are failed to diagnose the disease pattern. More over here higher middle class & higher class people visit very frequently for their health care.

7.2 Target Market: Specialized doctors are most potential & influential .Higher & medium patients classes as well as patients who are not satisfied with treatment of general practitioner coming to the specialized doctor .The prescription of these doctors are followed by rural & general practitioner. Among the specialized doctor particular for migraine treatment, the target doctor will be •

Neurologist

•

Medicine specialist

•

Ophthalmologist

Specialized practitioner

General Practitioner Rural practitioner

7.3 Product Positioning: Navana Pharmaceuticals Ltd obtained a good position in the buyers’ mind through better product attributes, price and quality, offering the product in a different way than the competitors do. The company offers improved safety & quality of products in the industry at an affordable price with high branding, But in case of Pizofen it is offered as Safe & effective migraine prophylaxis. 8

Segmenting, targeting & positioning for Pizofen

The market share of the company in the preventive treatment for migraine is around 35%.

The positioning of Pizofen is given below & strictly maintained in all promotional activities. Pizofen-Brings Migraine Patients to Light  Common migraine  Classical migraine  Retinal migraine  Basilar migraine  Menstrual migraine

7.4. Marketing Mix 7.4.1 Product:

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Segmenting, targeting & positioning for Pizofen

Pizofen is a renowned anti-migraine brand of Navana & maintains an international quality for the product. The brand name is coined in a very logical way that indicates the generic name of the product. The Formula of Pizofen given by Research and

Development departments, Pizofen is produced from imported raw materials. It is mentionable that Pizofen is being exported in different counties like Singapore, Malaysia, and Vietnam. Pizifen is offered in Market in tablet form with 2 strength (0.5 & 1.5 mg) according to doctor concern to treat migraine. According to patient’s condition doctors can choose the strength (0.5 & 1.5 mg) which can vary according to patient’s ages & severity.

It is very important to create the right packaging and brand image in order to catch the attention of the customer. We also strive to catch the salesperson’s (Medical Promotion Officer) attention too because they have to be convinced of the idea before they will sell it confidently.

7.4.2. Price:

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Segmenting, targeting & positioning for Pizofen

Markets of Pizofen are primarily specialized practitioners & patients come to this type of doctor when general practitioner can not satisfy them with therapy. Price does not matter to patients at that case but in case of medicine there is price constraint to set because Pharmaceuticals Company has to get price approval from drug administration. So price can not be too high to purchase. But if a doctor prescribes this product one has

to continue the therapy for a long time (at least six month), so opportunity here to generate more prescription to sale the product .Consequently price is fixed on the basis of consumer buying capability .Navana wants to attract customers and gain their loyalty by charging a reasonable price while offering a high-quality, and high-value product. Here there is a price comparison given below Competitors Brand Avidro (Beximco) Migranil (Square) Pizo-A (Acme)

Price (MRP)/tablet 0.5mg 3.00 3.00 3.00

1.5 mg 7.00 7.00 7.00

Price Pizofen (MRP) 0.5 mg 3.00

1.5 mg 6.50

7.4.3 Place: Place in the marketing mix, is not just about the physical location or distribution points for products. It encompasses the management of a range of processes involved in bringing products to the end consumer. Here we show how Navana distributes it’s product to end-user.

Navana Pharmaceuticals distribution model

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Segmenting, targeting & positioning for Pizofen

Navana. has a huge distribution channel for it’s products all over the country. The company has 18 huge warehouses, one in each division of Bangladesh, where the product goes after they are manufactured at Rupshi factory.There is a list shows the location of its 18 warehouses in Bangladesh. The company use its own fleet of transport for distributing its product as well as extarnal tranport campany. Dhaka Chittagong Comilla Sylhet Rajshahi

Mymensigh Kishorgong Maijdee Rangpur Khulna

Faridpur Jessor Cox’s Bazar Moulvi Bazar Barisal

Tangail Dinajpur Bogra

6.4.4 Promotion: Navana Pharmaceuticals undertakes huge promotional activities to promote Pizofen. It spends almost 20% to 30% of its net sales of Pizofen for promotional activities . As doctors are the prime concern to create demand through prescription ,a motivated team is working to promote the product all over the Bangladesh.Medical Representatives (MR) are given different promotional tools ,sampling,printed materials (literature,drop card) & gifts iteam to convice doctors & keep good relation.

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Segmenting, targeting & positioning for Pizofen

12 months promotional items highlights for the year 2009 Month / Cycle

New Printed Promotional materials

New gifts or Gimmick items

01: January 02: February 03: March 04: April 05: May 06: June 08: August 09: September 10: October 11: November 12.December

Literature Literature

Gift

Drop card Card Show Card

Gift

Drop card

Gift

Physician Sample(4’s)

Gift Drop Card Literature

10,000 10,000 12,000 12,000 14,000 14,000 14,000 10,000 8,000 8,000

The Medical Representative (MR) of Navana uses sales promotion, public relations and advertising to communicate effectively. The doctor perceives it and responds to it either to medical representative directly or in form of Rx (prescription). If the medical representative gets the required response for his product, it shows that the perceived value of message communicated to the doctor is equal to value created. The algorithm given below is pre-requisite for ideal communication. Feedback is vital in this model as it gives way for reconstruction of the message and improves its perceived value.

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Segmenting, targeting & positioning for Pizofen

The company relies on personal contact with retailers to establish the products in their stores. This contact, whether in-person or by phone, helps convey the message, demonstrate

the

products’ unique

qualities,

and

build

relationships.

Sales

representatives visit each store three or four times a month.

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Segmenting, targeting & positioning for Pizofen

8.Recommendation We would suggest some recommendations to Navana Pharmaceuticals Ltd. to adopt more successful operation in Bangladesh. Navana Pharmaceuticasl Ltd should expand their target market also towards the general practitioners. They should also conduct different promotional activities in hospital ,community hospital,private clinic and awareness program for patient.Because Pizifen has different type to migrain therapy so now if they provide different indications(use) of anti-migrain for patients the same brand name might increase their sales.

9.Conclusion The Pharmaceutical industry of Bangladesh is rapidly growing sector. The demand for this product is very much high in terms of disease privelence. Navana Pharmaceuticals is providing Pizofen. at a price which is affordable to most of the patients in the country. Pizofen is an uprising product in Bangladesh as a greater portion of the population, both male and female, are now getting more health conscious. Navana Pharmaceuticals with heavy promotional activities, has been able to penetrate the market. With two strength, two pack size, international standard and high quality design, as a product, Pizofen has been highly successful over the years. Its distribution process is highly efficient. Its promotional activities, like sampling,Seminer,Gift ,Visual aid has been a milestone in attracting a huge number of customers. Overall with its marketing activities Pizofen has been a successful brand.

10. Source 15

Segmenting, targeting & positioning for Pizofen

1.Navana Pharmaceuticals Ltd 2.Group discussion

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