A Marketing plan on UL diclofenac sodium

• Main Authors: Baluyot, Gary, Macaranas, Cristobal, Tan, Shaofen
• Format: text
• Language: English
• Published: Animo Repository 1991
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/16784
• Institution: De La Salle University

This paper seeks to present a concrete marketing strategy for a new product of the Generics division of United Laboratories Inc. (ULI). ULI has a total of twelve divisions and according to its 1990 National Sales Performance, the top three income earner divisions are Westmont, contributing 16% to the company Therapharma with 15% and both Medichem and Biomedis with 11%. The Generics division however, was only able to contribute 1% to the sales of the whole company even though it has always been known for its high quality products and low pricing methods/strategies. The latest product of the UL Generics division (ULG) that will be added to its current product line is the UL Diclofenac Sodium. It will be launched in June of 1992 and it available in only one format, the 50 mg tablet. It is the belief of ULG that it will be able to bring in additional income for the company and can further expand if marketed extensively. This may only happen however, if the salesman of ULG will be able to sell 8,025 bottles of UL Diclofenac Sodium for the first year. This equals P 1,546,731.38 in sales for the division. Furthermore, ULG intends to capture .34% of the Anti-Rheumatics Non Steroid (ARNS) market segment of the pharmaceutical industry, as a conservative estimate. Its entry in the market next year marks its joining of other ULI branded counterparts in the market such as Dolfenal, Pyrazon, Arthrifen, Skelan and Ketofen. In order to make all these a reality, ULG is expected to take this marketing plan for UL Diclofenac Sodium seriously for this will serve as their guideline or reference point in implementing tactics and strategies against their competitors. The approach to be used in convincing and encouraging the identified target market of the product will rely on the marketing mix strategy of the product and since this is a new product, most of the attention will be focused on its positioning and low pricing strategy. Aside from this, this plan will also serve as the guide for ULG to effectively and efficiently penetrate the market at the least possible cost.