Marketing plan for Cosmo Medical Inc.

• Main Authors: Jung, Su Jung, Kim, Hye Won, Seok, Ji Won
• Format: text
• Language: English
• Published: Animo Repository 2010
• Subjects: Marketing
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/18179
• Institution: De La Salle University

Medical supply market of the Philippines is highly dependent on importation. This is true especially for disposable syringes. The Japanese, American, and Chinese brands of disposable syringes are well known in the market. Cosmo Medical Inc., which has been existing for 15 years as the distributor of medical supplies, will launch a new brand named Prime to capture a big portion of the market share. The company already has a brand Cos-med which is good quality but with a higher price. The new brand Prime is going to target the market which is mostly occupied by the Chinese brands. It offers more superior quality than the Chinese brands with a comparable price. Prime, which is manufactured by Sung Shim Medical, Philippines, a sister company of Cosmo Medical Inc., is aimed to penetrate the market and take a bigger market share from the Chinese brands. Targeting distributors and purchasing managers in NCR, Central Luzon, and other areas, Prime is expected to take 5% of the total market share of disposable syringe market in the Philippines during its first year of selling. Later on, the company's long-term objective is to attain 25% of total market share by offering quality and competitive price and become one of the leading distributors eventually. To achieve these objectives, various promotional tools and programs will be used for marketing the product. By advertising, sales promotions, and public relations program that would attract buyers and influence their buying decision, the company is expected to reach the goals and objectives of this marketing plan.