A marketing plan on brand Next

• Main Author: Calaguas, Hazel
• Format: text
• Language: English
• Published: Animo Repository 2010
• Subjects: Marketing
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/18039
• Institution: De La Salle University

Eli Lilly, under the Health Care Industry, particularly takes part in the pharmaceutical segment primarily that of prescription drugs. Eli Lilly caters to the healthcare professionals in the area of neuroscience, endocrinology, oncology, cardiovascular and animal health sector wherein patients with ailments under the abovementioned medical areas are the consumers of the products of the company. Brand Next, an anti-thrombosis medicine, is the product that Eli Lilly will promote for the mid year 2010. Possible market for Brand Next is increasing due to the growing number of cardiovascular disease cases in the Philippines, with the age going as low as twenty-five years old. Health Goods and Medical Supplies only take eighth in the ranking of expenditures of Filipinos for the year 2009, showing that it is not one of the main priorities. However, despite the low ranking among twelve expenses of Filipinos, it is a growing industry said to be less affected by the global economic crisis versus the banking and financial sector reasons that health is becoming an increasing importance for Filipinos due to the growing age of the population. This is also due to baby boomers, a big part of the population, giving importance to health. Eli Lilly will be most affected by the intensity of competitive rivalry and the bargaining power of suppliers due to the plentiful direct and indirect competitors. Suppliers, being less in number versus that of numerous pharmaceutical companies, can demand more. Demand is high due to the low number of chemical companies. Filipinos prioritize buying cheaper medicines despite lesser quality which then affects the pharmaceutical companies that hold patents due to lower social classes being the majority. Advancement in technology causes higher cost in the investment of equipment in developing drugs however, this can also be an advantage in the fast development of drugs. The recession has cause a lower buying power for consumers in general and may affect the pharmaceutical industry. Politically, laws and regulations have been passed to control the increase in price of medicines, which also affects that the opportunity of pharmaceutical companies to earn profit. Eli Lilly has been in the market for more than 120 years. It has established global presence. With these experiences, it has come up with a new medicine recently launched in other countries, and to be launched here in the Philippines in 2010. Brand Next, an anti-platelet medicine has numerous competitors in the anti-thrombosis area. Competitors of which include that of Company LIM, Company XXX, Company OP and Company AW aside from the generic medicines. With these competitors, Eli Lilly is working on to maximize its strengths, to take advantage of opportunities, to avoid threats and to increase awareness in and outside the company. Eli Lilly creates good partnership with other companies in the industry through in-licensing and in promotions they are establishing an even stronger presence in the market. Eli Lilly, with its product Brand Next concentrates on the efficiency of the medicine over its competitor brands and products. The company would like to create better presence and to push their products through promotions and good relationships and partnerships. Plans and strategies are presented, not only based on secondary data, but also from a primary research conducted.