Marketing Plan - Assignment Example

Market Plan Topic Marketing involves presenting a product or service to the intended s or client. Themode of presentation determines the reception and the response. Market plan will help especially when improving an existing product or introducing a new product in the market (Kotler and Keller, p. 245).Product IdeaThis plan will involve the development of a drug with slow and extended release properties to cure pulmonary tuberculosis. The idea arises from the inefficiency associated with long duration of medication for patients on the available drugs that have a shorter half-life.

With a drug that is slow releasing and with a longer half-life, it is possible to improve the efficiency of therapy and increase patient’s confidence since they will not be required to take daily doses.The CompanyThe product will be provided by a new company (imagined for the purpose of the assignment). This will allow for flexibility in coming up with new ideas related to business and marketing strategy. An existing company may pose unexpected strategic barriers to the plan.Target AudienceThe target audience for pharmaceutical companies is the drug chemists and pharmacists as well as other players in the health sector.

These are the ones directly in contact with the target customer and will, therefore, link the product to the consumers.Similar ProductsSimilar products are available in the market. The REHZ drug is available as a combination of all the four main drugs used in pulmonary TB. The drug makes it more convenient for patients to take a single tablet as opposed to several tablets daily.Competitive AdvantageEven with the existing similar product in the market, the new idea has a distinctive competitive advantage over the rest.

This is because the REHZ is still taken daily, a factor which still does not improve on the efficiency. The new drug will not be required daily because of the slow, extended-release properties.Works citedKotler, Philip, and Kevin Lane Keller. Marketing Management. Vol. 22. N. p., 2009.