nimalox re-branding marketing plan
DESCRIPTION
Nimalox is a non steroidal anti inflammatory drug with analgesic and antipyretic properties and cox-2 selective inhibition it's a study to re-branding Nimalox MBA Cairo UniversityTRANSCRIPT
NIMALOX MARKETING PLAN 1MBA Cairo University
NIMALOX MARKETING PLAN 2MBA Cairo University
NIMALOX MARKETING PLAN 3MBA Cairo University
Nimalox is a non steroidal anti inflammatory drug with
analgesic and antipyretic properties and cox-2
selective inhibition
Nimalox used for treatment of osteoarthritis , acute
pain and primary dysmenorrheal in adolescent and
adult above 12 years old . it is characterized by fast
onset of action .it has many advantages such as
1- has superior gastrointestinal safety as compared to
other NSAIDs
NIMALOX MARKETING PLAN 4MBA Cairo University
• And Nimalox multifactorial mode of action on inflammatory
raceme , also it has proven benefits in the treatment of acute
pain , painful osteoarthritis and primary dysmenorrheal . the
product price competitively in the market place higher than
generic competition , the target market is young executive ,
ages 21 to 40 , dentists , pharmacists , it focused to market
the Nimalox to the age range of 50 to 75 , it will be
competitive advantage from other product through its use of
new distribution channels and social media awareness
NIMALOX MARKETING PLAN 5MBA Cairo University
NIMALOX MARKETING PLAN 6MBA Cairo University
• The size of the global pharmaceutical industry is estimated to be at
US$ 550 billion in 2004 as per the latest IMS estimates and has grown
at 7%. The growth is driven by a robust drug development pipeline,
ageing population and ongoing demand for innovative therapies. North
America has contributed nearly 45% of the global pharmaceutical
sales. European Union accounts for around 26% while Japan accounts
for around 11%. Of the other major pharmaceutical markets, China has
shown a consistent performance year after year growing by 28% to
US$ 10 billion. (Source: IMS)
NIMALOX MARKETING PLAN 7MBA Cairo University
Nimesulide was the NSAID with most DDDs **billed from
January 2006 to March 2007, with an average 22.3% market
share (203.7 DDDs/1000patients/month). Utilization dropped
suddenly between April and Jun Nimesulide has been
associated with increased risk of hepatotoxicity. This
prompted regulatory action by the European Medicines
Agency.
It is available in a variety of forms: tablets, powder for
dissolution in water, suppositories, mouth dissolving tablets
and topical gel NIMALOX MARKETING PLAN 8MBA Cairo University
• The main competitors are Sulide® Nilsid ®
• **The WHO's definition is: "The DDD is the assumed average maintenance dose per day for a drug used for its main indication in adults."[1]
NIMALOX MARKETING PLAN 9MBA Cairo University
NIMALOX MARKETING PLAN 10MBA Cairo University
Customers typically purchase pain relievers at supermarkets, pharmacies. Individuals
may buy OTC pain relievers after surgery or to help eliminate pain after they have used
their prescription pain killers. A number of issues play a role in consumers selection of
which OTC pain reliever to use. Some consumers look for lowest price, in which case
most generic forms of pain relievers, such as nimalox, dispersal. Other consumers look
for the absence of certain side effects such as gastrointestinal bleeding or effects on
one’s liver or kidney. Few OTC pain relievers can be taken during pregnancy, whereas
others cannot be used in conjunction with certain prescription drugs. When consumers
have multiple symptoms, such as headache with congestion, they often choose a
medication that will solve all of their problems
NIMALOX MARKETING PLAN 11MBA Cairo University
Products such as Brufen cold or Panadol sinus serve to
eliminate headache and clear congestion . AS an added
benefit , the user doesn’t need to be concerned with
possible side effects of mixing medications. Once a
consumer find a pain reliever that works well, they tend
to buy only this brand in the future. Word of mouth also
plays major role in selecting OTC pain killers and so do
the pharmacist opinion.
NIMALOX MARKETING PLAN 12MBA Cairo University
Rationale of non customers
Aspirin and Ibuprofen should not be taken if you are
taking blood pressure medications like ACE inhibitors
and/or beta-blockers. Some people have allergic reaction
to aspirin such as asthmatics, which can cause wheezing,
hives, facial swelling and/or shock. Other individuals have
a holistic approach to medicine and prefer not to take any
sort of medication. Because of these reasons, many
individuals experiment with alternative means of pain
relief.
NIMALOX MARKETING PLAN 13MBA Cairo University
NIMALOX MARKETING PLAN 14MBA Cairo University
imesulide has superior gastrointestinal safety as compared to other
NSAIDs.
Its multifactorial mode of action gives it a unique and broad action
on inflammatory processes.
It has proven benefits in the treatment of Acute (short term) pain,
Painful osteoarthritis (Swelling in the joints) and Primary
dysmenorrheal ( Period Pains)
Fast analgesic & antipyretic effect than other NSAIDs in addition to
anti-inflammatory effect.
Twice daily.
Available in 3 forms for patient compliance.
Palatable taste for granules.
NIMALOX MARKETING PLAN 15MBA Cairo University
NIMALOX MARKETING PLAN 16MBA Cairo University
Market analysis and market growth
• 2) Market Share : 2013
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Market Segment
Our Product Main Competitors
Value Gr. Value M. Sh. Gr. Name Value M.Sh. Gr. Name Value M.Sh. Gr.
986,709,592 10.8 2,266,600 Sach : 917,980
Tab : 973,404
Supp : 375,216
0.3
32.3 %
34.4 %
13.2%
-46
10.2
-20.6
-14.3
Sulid
Tab
Supp
11,992,640
7,521,536
4,471,104
1.5
50.8 %
30.2 %
-43.1
-20.2
-0.6
Nilsid
Sach
Tab Supp
1,252,275
369,546
515,925
366,804
0.3
13.7 %
19.1 %
13.6 %
-62.2
-5.3
-37.7
-24.9
MBA Cairo University
UnitsGr.
UnitsM. Sh.
Gr. Name UnitsM.Sh.
Gr. Name Units M.Sh.
114,770,203
5.3 354,171 Sach : 183,479 Tab : 108,156 Supp : 62,536
0.4
39.2 %
23.1 %
13.4%
-46
10.2
-20.6
-14.3
Sulid
Tab Supp
1,242,667
683,776
558,888
1.5
40 %
32.7 %
-50.2
-20.2
-0.6
Nilsid Sach
Tab Supp
180,050
61,591
57,325
61,134
0.4
15.3 %
14.2 %
15.2 %
NIMALOX MARKETING PLAN 18MBA Cairo University
NIMALOX MARKETING PLAN 19MBA Cairo University
As in the most industries, technological
advancements have affected consumer activity
in a number of ways. The internet has created
an abundance of information, not all of which
is reliable. Consumers have easy access to
information, much of which is promotional
material presented in a manner to appear
unbiased.NIMALOX MARKETING PLAN 21MBA Cairo University
In addition to the impact on consumer, technological advances also offer
a number of opportunities and challenges pertaining to manufacturing,
distribution, and promotional activity. Technology generates more
extensive research, greater accuracy in manufacturing, more effective
methods for tracking issues, and faster processes for development. with
regard to distribution, technology has provided opportunities for
environmentally friendly packaging whole increasing safety mechanisms
to prevent tampering. Potential benefits include inventory control ,
counterfeit deterrence, patient protection, and prompt communications
relating recalls
NIMALOX MARKETING PLAN 22MBA Cairo University
Potential benefits include inventory control, counterfeit
deterrence, patient protection, and prompt communications
relating recalls.
The Egyptian drug authority (EDA) has developed a timeline in
which drugs that are more likely to be duplicated by counterfeiters
will be serialized sooner than others. The adoption of FRID(radio
frequency identification) technology affects drug manufacturers
and should be considered when developing packaging
NIMALOX MARKETING PLAN 23MBA Cairo University
Nimesulide has been associated with increased risk of
hepatotoxicity. This prompted regulatory action by the
European Medicines Agency. The following measures were
applied in 2011: change in product approved indications
(January), a ‘‘dear doctor’’ letter (March), and removal of
packages for therapies longer than 15 days (up to June) and
withdrawal of suspension for children less than 12 years
NIMALOX MARKETING PLAN 24MBA Cairo University
Fast analgesic & antipyretic effect than other
NSAIDs in addition to anti-inflammatory effect.
Higher GIT tolerability
Twice daily.
Available in 3 forms for patient compliance.
Palatable taste for granules.
NIMALOX MARKETING PLAN 25MBA Cairo University
Not safe for children below 12 years
Cautions related to Hepatic-toxicity .
Limited worldwide experience
NIMALOX MARKETING PLAN 26MBA Cairo University
Established Concept of sachets use via Catafast
Higher incidence of Fevers during Influenza season &
need of potent antipyretics
Temporary shortage of sulide due to problems in the
production line
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MOH history of suspension withdrawal which create
negative image at doctors mind.
Crowded market & tough competition.
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• The market of analgesics is crowded with heavy competition either direct or indirect
• Direct competition:• Nilsid Pharaonia company • Limited sales team activity, cheaper price, less market
share • Sulide Hikma Company • Highly active sales team, known product by doctors,
higher market Share but higher price
NIMALOX MARKETING PLAN 29MBA Cairo University
Competition
• Indirect competition • Catafast : is the market leader as Sachet produced by a
multinational company ( Novarties )• Different active ingredients: diclofenac potassium • Heavy promotion and stable market share • Voltaren : by Novartis as tablets but with a higher price • Service offering • Special Discounts for large orders • Providing free medical brochures , gimmicks with
adequate quantity to cover doctors and remind them with Nimalox by name
NIMALOX MARKETING PLAN 30MBA Cairo University
NIMALOX MARKETING PLAN 31MBA Cairo University
Mission & Objectives• Marketing Mission & objectives need to be seen as
part of a hierarchy of Company Mission & Vision in the sense that they are shaped and informed by the corporate objectives. A corporate objective influences a marketing objective, which in turn shapes the marketing strategies and marketing tactics employed:
NIMALOX MARKETING PLAN 32MBA Cairo University
Sigma was founded on four key values: “Vision, Leadership , Teamwork and Devotion”
• Sigma (Mission & Vision )• Sigma envisions itself to become one of the top
generic pharmaceutical companies in the Middle East.
• The mission of Sigma is to produce quality medicines to improve human health. We believe that access to high quality, yet affordable medicine is essential in improving healthcare.
• Mission : to provide healthcare providers and patients with pharmaceutical products of premium quality products and to safely , rapidly relieve patients suffering with pain.
NIMALOX MARKETING PLAN 33MBA Cairo University
Marketing Objectives
• Objective: by the end of this year we aim to sell about 410, 000 units
• making annual revenue of about 2,650,000 LE with about 22% growth rate. Also , to increase customer / patients retention by 20%
Setting goals / objectives are easy but achieving them aren’t, so we apply the SMART acronym on our objective
NIMALOX MARKETING PLAN 34MBA Cairo University
Re-branding the Nimalox : by using new improved formulas and fashionable logos, New Packaging design , then you will win and attract new customers
Improve Product Awareness: To launch a marketing campaign targeting dentists and pharmacists and health providers, who were soon all receiving promotional materials: by using new informative brochures for highlighting on uses for different forms, flyers, free medical samples, invitations to talks on our website , and visits from pharma reps.
• - Our goal is to position the Nimalox as convenient prescription strength , OTC market , so the consumer will be satisfied convenient medication without need of doctors directions SO WE ‘ll build the name with OTC choices for pharmacists among NSAIDS ( achieving 100,000 Rx / year (Prescription) )
- increasing Nimalox market share in the market of anti-rheumatics
Increase Sales - to maximize the sales effect.
NIMALOX MARKETING PLAN 35MBA Cairo University
Financial Objectives
• To achieve a gross profit margin of £ 2,400,000 before the end of the financial year. To increase net profit by 23% each year for the first five years of operation. To achieve a 19% return on the capital invested by the end of the first year of operation. To increase the size of operation from £ 100,000 in the first year to £ 200,000 in the next.
NIMALOX MARKETING PLAN 36MBA Cairo University
TARGET segmentation
1- Nimalox target segmentation consist of men and women
above 12 years old whose work in an office environment
segments which are in colleges ( the teenagers)
2- people how has osteoarthritis
primarydysmenorrhea
in adolescents and adults who has gastric pain or disease as it
has the superior gastrointestinal safety compared to other
NSAIDs
3-people who has acute headache as it has proven benefits in
treatment of acute or short term pain NIMALOX MARKETING PLAN 37MBA Cairo University
Target market
1-pharmacists
2-dentists
3- Orthopedics
NIMALOX MARKETING PLAN 38MBA Cairo University
Positioning
Nimalox the faster and powerful NSAIDs for pain and fever ,
as there are several features that differentiate Nimalox from
other NSAIDs ,
1-Nimalox has proven benefits in the treatment of acute
pain , painful osteoarthritis , and primary dysmenorrheal
2- Nimalox is multifactorial mode of action with unique
broad action on inflammatory process
3- Nimalox has superior gastrointestinal safety as compared
to other NSAIDsNIMALOX MARKETING PLAN 39MBA Cairo University
Marketing Mix
ProductProduct
Product usage Acute pain reliever medication The treatment of dysmenorrheal pain Anti-inflammatory Does not affect the stomach The fast-acting in comparable with other products Product Design Attractive design of the pack Standard specifications Pharmaceuticals
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Pricing
to achieve the following Attract new customers gain market share Penetration priceCompetitor pricing Compared with the prices of competitors
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Pricing
Tablets Suppository sachets
nimalox 9 LE 6 LE 5 le
Nilsed 9 LE 6.5 LE 6LE
Sulid 11 LE 8 LE N/A
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Promotion
Introduction stage/Gain awarenessPharmacy campaigns with special offers Sales promotions Free medical samples for targeted doctorsMail advertisingDirect mail doctorssocial media instegram , twitter, facebook, pinterest ,blogs articles, and
google+
NIMALOX MARKETING PLAN 44MBA Cairo University
Distribution
Intensive distribution strategy / permanent availability of Nimalox
Using the distribution agents Awareness of Doctors Pharmacies in all Egypt and especially middle-income area
NIMALOX MARKETING PLAN 45MBA Cairo University
4.0- Financials
4.1 Break-Even Analysis 4.2 Sales Forecast 4.3 Expenses Forecast 4.4 Contribution Margin
4.1 - Break-Even Analysis
•The break-even level or break-even point (BEP) represents the sales amount—in either unit or revenue terms—that is required to cover total costs (both fixed and variable)
•Profit at break-even is zero
•The purpose of break-even analysis is to provide a rough indicator of the earnings impact of a marketing activity
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In the Linear Cost-Volume-Profit Analysis model (where marginal costs and marginal revenues are constant, among other assumptions), the break-even point (BEP) (in terms of Unit Sales (X)) can be directly computed in terms of Total Revenue (TR) and Total Costs (TC) as:
TR = TCP * X = TFC + V + X(P * X) – (V * X) = TFC(P – V) * X = TFCX = TFC / (P – V)
where:TFC is Total Fixed Costs,P is Unit Sale Price, andV is Unit Variable Cost.
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Break-Even Analysis
Monthly Units Break-Even 33,000 units
Monthly Revenue Break-Even (33,000 units x £ 3 cost per unit)
£99,000 (EGP pounds)
We have the following financial objectives : √ To achieve a gross profit margin of £ 2,400,000 before the end of the financial year.(100,000 units monthly x 12 months x £ 2 gross profit margin per unit)
√ To increase net profit by 23% each year for the first five years of operation.
√ To achieve a 19% return on the capital invested by the end of the first year of operation.
√ To increase the size of operation from £ 100,000 in the first year to £ 200,000 in the next.MBA Cairo University 49NIMALOX MARKETING PLAN
* The first year budget is £ 100,000:
(The production & operations budget is £ 37,000 + The marketing budget is £ 63,000)* The production budget (£ 1.1 per unit) includes: Material: 0.62 piasters per unit Labor : 0.27 piasters per unit Utilities : 0.09 piasters per unit Others : 0.12 piasters per unit
* The marketing budget (£ 1.9 per unit) includes:Samples : 0.14 piasters per unitBrochure : 0.02 piasters per unitGimmicks : 0.78 piasters per unitInternet Advertising : 0.05 piasters per unitNewspapers Advertising : 0.14 piasters per unitTV Advertising : 0.61 piasters per unitPublic relations : 0.16 piasters per unitMBA Cairo University 50NIMALOX MARKETING PLAN
4.2 – Sales Forecast
First
FY 2015 FY 2016 FY 2017 FY 2018 FY 2019
Sold Units 1,200,000 1,440,000 1,728,000 1,980,000 2,176,000
Total Revenue
6,000,000 7,200,000 8,640,000 9,900,000 10,880,000
Gross Profit Margin
2,400,000 2,880,000 3,455,000 3,960,000 4,338,000
Actual 2013 Actual 2014
Sold Units 660,000 595,000Total Revenue 3,300,000 2,975,000
Gross Profit Margin 1,320,000 1,190,000
Second
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4.3 - Expenses Forecast
Production & Operations Expenses Budget + Marketing Expenses Budget
FY 2015 FY 2016 FY 2017 FY 2018 FY 2019
Materials £15,000 £16,500 £17,200 £18,100 £19,200
Labor £27,000 £32,000 £37,000 £42,000 £45,000
Utilities £9,000 £10,000 £11,000 £12,000 £13,000
Samples £14,000 £15,200 £16,240 £17,600 £18,150
Brochure £2,000 £2,100 £2,200 £2,300 £2,400
Gimmicks £78,000 £90,000 £102,000 £113,000 £127,000
Internet Advt. £5,000 £5,500 £6,000 £6,500 £7,000
Print Advt. £14,000 £15,200 £16,240 £17,600 £18,150
TV Advert. £61,000 £72,500 £82,800 £96,000 £104,000
Others £16,000 £16,500 £17,200 £18,100 £19,050MBA Cairo University 52NIMALOX MARKETING PLAN
4.4 - Contribution margin
•Contribution margin, or pounds contribution per unit, is the selling price per unit minus the variable cost per unit. •Contribution margin represents the portion of sales revenue that is not consumed by variable costs and so contributes to the coverage of fixed costs.
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The Unit Contribution Margin (C) is Unit Revenue (Price, P) minus Unit Variable Cost (V):
C = P – V
The Contribution Margin Ratio is the percentage of Contribution over Total Revenue, which can be calculated from the unit contribution over unit price or total contribution over Total Revenue:
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• controls : the marketing plan is structured to enable
Nimalox to achieve the strategic goals it has set for
itself , in terms of increasing overall revenue as a result
of differentiating Nimalox from the competition . the
marketing team will ensure that the plan is
implemented to the best of its ability and with the
highest levels of efficiency and accuracy .
.
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• implementation : the plan will be altered or
manipulated in order to react with external
changes to the environment .
results will be evaluated by the end of each
quarter at the regular sales review meeting .
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• contingency planning : contingency plan have been made for the
following unexpected developments : -shortage of marketing
budget supply : in this case we will concentrate on investing
doctors trust on nimalox and its superior action with their patients
( concentrate more on sales team )
- the entry into the market of a competitive product :
differentiation would continue to be the strategic approach with
the development of added value and benefits
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