A Proposed marketing plan for biogesic tablet

• Main Authors: Agoncillo, Christine, Del Rosario, Shela Mae, Nery, Anna Marisheila
• Format: text
• Language: English
• Published: Animo Repository 1994
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/16736
• Institution: De La Salle University

Biogesic has been in the industry for thirty one (31) years and at present, it enjoys the largest market share at 25%. This marketing plan's objectives are: (1) To increase sales by 36% in peso value and 30% in units, (2) To increase market share by 10%, and (3) To focus on a new target market (female market). Biogesic is both an ethical and over-the-counter drug. However, most of its sales come from prescriptions (5% sales are RX based and the rest from OTC market). It is proposed that Biogesic should increase its ethical campaign. Biogesic (or UNILAB), has an effective distribution system. It has 18 depots located nationwide and these depots act as distributors to their areas and nearby cities/provinces. However, it is deemed needed that Biogesic should increase its distribution in supermarkets and hospitals, and include the clinics of companies and schools/universities. Based on the UAI Analgesic Survey, mothers are usually the ones who buy the medicines for their families. Because of this, a change in the target market is proposed. Biogesic should target the female market (from the current male and female target market) because the female plays a major role in the influence of the brand of choice of consumers. As a result, a new campaign would be launched in the trimedia effort. The product's main clients are the drugstores, hospitals, dispensing doctors and consumers. Promotions such as the Beat the pain...Have a gain raffle promo, free Product deal, Promotional gimmicks for doctors and Radio promo are adopted to arouse the interests of these main influences of sales. It is also proposed that Biogesic should come up with a 500 mg Fast-Acting Capsule as product development to better serve the changing needs of the market. With regards to pricing, there would be a price increase of 5% to achieve a higher profit margin, thus compensating for the promotions and advertising expenditures. The expenditures for the proposed marketing plan is P 21,241,307. This includes the expenses for Promotions, Advertising, Research and Development and Contingencies (for counter-attacks). This is expected to yield a net income of P 299,754,879, an increase of 36% in peso value from the 1994 projected net income of P 210,264,250. For the evaluation of activities, there are persons-in-charge in each programs (Advertising, Promotion, Sales and Distribution, Pricing and Product Development) to be able to effectively monitor the product's performance.