METABICAL: MARKETING PLAN Marketing Strategy Insert your Name [Insert your Company] Metabical: Strategy Plan This paper presents marketing and communication strategy for launching Metabical, a drug for weight-loss in the United States Market. The plan consists of a Situational Analysis in which the internal and external business environment is discussed in detail…
Prior to putting together the dynamics of the marketing plan, all the alternatives of positioning and setting up the USP of the brand will be discussed in detail and analyzed and the best alternative will be selected around which, the marketing plan will be created. The marketing plan would include the Marketing Objective, target market analysis and demand forecast, and the communication plan (the Marketing Mix: 4 P’s) will be set for Metabical. Keeping the external and internal factors in mind, a Contingency Plan will be set which will include all the possible hindrances and unforeseen events which the business could face. The end of the report will have control and procedures which will explain how the marketing activities will be monitored and measured. Situational Analysis Internal Analysis: Metabical has Food and Drug Administration’s approval as being an effective weight-loss drug amongst its competitors. It is claimed by the company’s Chief Marketing Officer Bernard Long that Metabical is a new and improved version of all the other drugs for weight-loss in the market with dramatically reduced side effects. ...
This way, the drug even controls the diet of the consumers. External Analysis: The market for drugs like Metabical is a lucrative one. Nearly 65% of the adult population of the United States is considered as overweight. Out of this 65%, the segments of those who are in between the BMI of 25 and 30 is a virgin market which is not targeted by any drug. Even in this market, there was only one drug called Alli which was approved as an Over-the-Counter (OTC) for weight-loss by the Food and Drug Administration. However, this drug was only a lighter version of a heavier drug called Xenical and also had strong side-effects. Because of these concerns, the drug industry went through perusal by the FDA and a dietary supplement ephedra was banned owing to reported cases of sudden cardiac arrests and other life threatening dangers of the side-effects caused by these drugs. Metabical on the other hand, is FDA approved and is also tested for its effects with the conclusion that Metabical has light side-effects as compared to its competitors. Besides the drugs in the market, there were also herbal dietary solutions available which needed no regulations. However, these were less effective and required strict diet control whereas, Metabical being a drug itself, could produce better results in 12 weeks time. With a green signal from the FDA, Metabical therefore is ready to enter the market and launch a fully fledged campaign for not only the consumers, but for businesses and doctors as well as it is a prescription drug. This channel available to market Metabical presents a strong opportunity to itself and an edge amongst the competitors which impose high risk side-effects. Research shows that the market of Metabical lies aound 12% of the total ...
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