Brand Plan For Pharma Products - Lecture Slides 2k7320
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Brand Plan for Pharma Products B. Pharm. + MBA, (Pharm. Tech.) IVth Year Semester VIII
Brand Plan for Pharma Products B. Pharm. + MBA, IVth Year 2017-18
Let us start a great subject with an oxymoron
A Brand Plan cannot be in isolation of the Company Strategy
Alignment of Brand Plan with Company’s Business Strategy and Company’s Vision, Mission and Values
Questions to answer 1. What’s the company’s and the brand’s present situation?
2. Where does the company/brand need to go from here?
Market positions to stake out
Buyer needs and segments to serve
Direction to head
3. How should it get there?
Brand Plan Outline
Executive Summary Market assessment including Competitive Scenario– External Environment Scanning Internal in company performance analysis SWOT Analysis Key success factors Marketing objective Marketing Strategy – S T P Positioning
Brand Plan Outline …contd.
Marketing Mix Communication Plan Campaign & Promotion plan P& L statement Financial Projections Implementation Review & Control
Executive Summary The executive summary is a crucial part of the Brand plan. It is a synopsis of the main points of your business plan, highlighting the key features. This is usually the first part of your plan that top management will read and it must be interesting and concise. Getting the executive summary right is crucial for any Brand Manager.
10
Importance The Executive Summary is the first part of your Brand Plan that Senior Management will read. A well-written Executive Summary will allow the Senior Management to grasp the main highlights of the Brand Plan and leave them excited and wanting to learn more.
3.11
The purpose of the executive summary The purpose of the executive summary is to explain the main aspects of your Brand in a way that will make the reader want to learn more. Yet it must also include enough information that top management sees the scope and potential of your Brand without having to read the entire plan. The executive summary is an overview of your entire Brand Plan and should leave readers with the feeling that the Brand is competently led, and has energy and enthusiasm.
3.12
The purpose of the executive summary …contd. Writing the executive summary can help you with several elements of developing your Brand Plan.
Writing the summary forces you to condense your Brand Plan and focus on the key issues in developing your Brand. The items covered in the executive summary should be given in order of importance, so writing the summary will help you to decide which parts of the entire plan are most crucial, so you can prioritize. The summary can also give you a foundation for writing the entire Brand Plan, provide you with a place to start and an outline for your full plan.
3.13
What to avoid in the Executive Summary?
The executive summary should be written in an interesting way, and not as an outline, a list of elements or as a table of contents to the Brand Plan. It should avoid simply restating parts of the Brand Plan, and should stand alone as an introduction to your business. The Brand Plan should also avoid using exaggeration or hype, as this will lower confidence and the credibility of your plan. The executive summary should not be simply cut and pasted from the entire plan and should sound fresh.
3.14
Contents The Brand Plan should begin with a paragraph that grabs the readers' attention, such as an interesting fact, relevant statistic or history of the business/brand. Many summaries begin with a statement of the purpose of the company or incorporate the company mission statement. Following this, you should include at least one key point from every section of the Brand Plan, although you may have to leave some sections out to avoid making the summary too long. You should conclude with a statement of purpose and detail what you want from the reader – such as the exact amount of investment money needed. The summary should be short, no more than two pages.
3.15
Executive Summary
Summary slides of the full slide deck, including: Bullet points highlighting key issues Brand Strategy – Broad based Thrust areas of the brand plan Brand assessment Recap of financial assessment Max of 3 slides
16
3.17
Market & Product Assumptions Market Assumptions with basis: Anticipated direction that the market would take New developments anticipated Growth of market with focus on treatment patterns
Product Assumptions Price and basis along with competitor price Cost, Field allocation, Trade offers, Pack changes
Total of 2 – 3 slides
18
Market Overview
Stockist Sales Audits & Medical Audits
Covering Market Size, Growth, EI & CAGR Covering Rx Analysis, Customer Analysis & Indication Review Carried out at Therapy Category , Molecule, Key Competitor & Brand Level In-company Sales Analysis
Total of 2 – 3 slides
19
Brand SWOT Analysis Template
SWOT Guidance Internal
Strengths
Weaknesses
•Capabilities/Core competencies •Product attributes •Market position
•Capability gaps •Lack of competitiveness •Vulnerabilities
Opportunities
Threats
•Changing customer dynamics •Unmet customer/market needs
•Changes in market dynamics with anticipated negative implications •New competitors •Govt. Regulations
External
Business Strategy
Business Strategy statement for the brand
Most important indication Key target audience Basic approach to market place (Philosophy for brand) covering 4 Ps of the Marketing Mix
Total of 2 – 3 slides
To: VP/MM From: GPM Frequency: Once a Year Purpose: To arrive at Positioning
22
Your Brand Logo Here
Brand Objectives Quantitative
Qualitative
•Enter TEXT here
•Enter TEXT here
23
Brand Objectives
3 Years Sales Projections Phase it Quarter-wise, month-wise based on salience (past data), strategy planned
24
Customer Segmentation
Customer Segmentation based on analytical inputs Targeting – Coverage plan by speciality along with visit frequency Field Time Allocation Plan 1 – 2 slides providing rationale for above
25
Customer Segmentation •Number of Customers
•% of Customers
Total Audience:
26
Categories/Segments
Segmentation and Targeting Plan Target Audience Name: Target Audience 1
Physician Universe
Target Coverage Objective
Targeting Frequency (calls/year)
Total Calls
% VAR vs PY
100,000
50%
6
300,000
2%
Target Audience 2
0
Target Audience 3
0
Target Audience 4
0
Total
100,000
To: VP/MM From: GPM Frequency: Once a Year Purpose: To Arrive at Total no. of Target Audience Calls
300,000
27
Your Brand Logo Here
Product Profiling Template Different
Not Different
Important
Not Important
“Takeaway”
Select a few key product features to emphasize in promotion Focus on one or two product features in the “important + different” quadrant that are relevant in the customer’s point of view Finally, please insert a concise takeaway statement that provides a summary overview of or key conclusion regarding the data shown Prepare 2 – 3 Slides depending on competitors if needed. To: VP/MM From: GPM Frequency: Once a Year Purpose: To Arrive at Key features for Promotion
Your Brand Logo Here
Key Success factors for Brand
3 – 5 Key issues/ factors or aspects that are critical for Brand performance
Identified from data & perceptions
1 or Max of 2 slides
To: VP/MM From: GPM Frequency: Once a Year Purpose: To Arrive at Key Brand Issues for Brand Performance
29
Your Brand Logo Here
Brand Positioning
Write the positioning alternatives Provide rationale of choosing final positioning statement 1 or Max of 2 slides
To: VP/MM From: GPM Frequency: Once a Year Purpose: To arrive at final positioning for the brand
30
Your Brand Logo Here
Brand Messaging • • • •
Positioning statement followed by messages 3-4 Key messages only List of data sources 1 slide only
To: VP/MM From: GPM Frequency: Once a Year Purpose: To Arrive at Brand Message For Target Audience
31
Your Brand Logo Here
Brand Strategic Summary Strategic Imperatives
Statement
Strategies
Tactics
Strategy 1
Strategy 2
Strategy 3
—
Write key tactics and actions
—
Write key tactics and actions
—
Write key tactics and actions
—
Provide costing on each tactic
—
Provide costing on each tactic
—
Provide costing on each tactic
To: VP/MM — Provide 1 slide From: GPM Frequency: Once a Year Purpose: To Arrive at Brand Strategies & Tactics
for each strategic imperative 32
Your Brand Logo Here
Single Slide Each • • • • • •
Field Selling Expense calculations Sampling Plan Incentive Plan Activity Calendar (With Formats) Control & Monitoring Tracker (With Formats) Expenditure Plan consolidation (With Formats)
To: VP/MM From: GPM Frequency: Once a year Purpose: To arrive at brand input cost
33
Your Brand Logo Here
Sampling Plan
Product pack, Sample Unit pack & cost per pack, Quantity/ MR, Total Qty of samples per cycle Duration of sampling and Annual Total Re. Value of Samples
Incentive Plan Quarter-wise plan – with some quantity or Re. Value linked Incentive or on achievement of Quarterly Target or Annual target All India, Zonal level competition Award (in kind or monetary ) / certificate
Activity Calendar
To: VP/MM From: GPM Frequency: Once a year Purpose: To arrive at yearly activities and follow up
3.37
No Brand Plan is complete without the Monthly/Quarterly/Half-yearly and Annual Review & Control mechanisms in place
3.38
Various monthly, quarterly, half-yearly and annual metrics are determined in advance to ensure that the brand plan remains on track To make sure that the Profit and Loss (P&L) objectives of the brand are achieved, there are various monthly, quarterly, half-yearly and annual metrics that are determined in advance to ensure that the brand plan remains on track. The various parameters that are monitored during the course of a product launch and right till the end of the financial year •Field Selling Expense calculations •Sampling Plan •Incentive Plan •Activity Calendar (With Formats) •Control & Monitoring Tracker (With Formats) •Expenditure Plan consolidation (With Formats)
3.39
Review & Control
Revenue and Unit Sales Expenses Customer Market / competitors’ activities
Promotion Monitor
Analyze MR wise Rx response from Focus doctors who were given major inputs Compare with secondary sales on weekly/monthly/quarterly basis
Expenditure Plan Consolidation
TO:VP/MM FROM:GPM FREQUENCY:ONCE A YEAR PURPOSE:INPUT COST TRACKING
Brand Contribution – P&L Format
TO:VP/MM FROM:GPM FREQUENCY:ONCE A YEAR PURPOSE:TO ARRIVE AT P&L FOR BRAND
Zone-wise Promotional/Detailing to Sales Analysis
In-depth analysis of weak zone
Deviation Report
Segmenting Market: Customer Segmentation, Customer Targeting
Segmenting Market: Customer Segmentation, Customer Targeting
The Essence of Pharmaceutical Product Strategy
The STP Model
The Essence of Pharmaceutical Product Strategy
The STP Model
The Essence of Pharmaceutical Product Strategy
The STP Model
Market Definition We can think of all potential customers sharing a particular need or want. In the consumer goods world, we can think of Sports car markets • Home Appliances Market • Cola drinking markets •
Pharmaceutical Marketers may define their market using various criteria:
Pharmaceutical Market Definition Methods
•
Segmentation based on end customer profile A retired elderly patient may be looking for an efficacious, but
mainly safe medication that will not interact with other comedications or disease states and at a cheap price. A working professional may need an efficacious product that will not cause drowsiness or other severe adverse events. •
A young mother may ask her daughter’s pediatrician to give her a prescription for a cough syrup she has been told by her neighbour that works well. •
Cancer or AIDS patients may be open to experimental and powerful medication that may extend their hopes for survival. •
Identifying markets and sub-markets Based on these observations of Prescriber profile • Patient profile • Market research data • Prescription audit data • Sales force suggestions and countless other sources... •
... marketers are trying to identify markets and sub-markets for their products, allowing them to optimally target their campaigns and resources toward these different groups of customers.
Market Segments Each distinct group of customers constitutes a market segment. The process of identifying each segment and its characteristics is called market segmentation.
The Concept of Market Segmentation
Because a single product is not likely to appeal to all customers, an effort is made to identify groups of customers that find different product variations to be attractive. Segmentation is the process of analyzing and breaking down the whole market into specific sub-markets, each with their own characteristics and needs. The Important Benefits of Market Segmentation Deg optimal product/market matches • Proper promotion strategies • Effective promotional spend allocation • Identifying the most appropriate distribution channels and • Exploiting neglected segments •
Different criteria may apply to multiple stake holders in the Pharma Industry Demographic, socio-economic or consumption pattern criteria may be especially suitable towards patient segments While psychographic and behavioural criteria may be equally important in segmenting prescriber groups. For Institutional business where purchase decisions are made by stakeholders other than the prescribing doctors, the segmentation criteria may be different.
Characteristics of Market Segments for Pharma Products •
Differentiable : Ob/Gynae DRs. wanting to Rx NSAIDS for PMS or patients with
PMS
Measurable : Hospital oncologists treating inpatients • Accessible : Distribution reach, Dr. presence • Substantial : Mass diseases vs rare diseases • Actionable : Purchasing power, authority • Defendable : Size of competition and intensity of competition •
The Market Segmentation Steps
Customer Segment Analysis Behaviour Analysis)
(includes
Targeting
Targeting Targeting in very simple is defined as choosing the specific individuals to win over.
Target Market
A set of buyers sharing common needs and characteristics that the company decides to serve
A group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges
3.66
Perceptual Mapping, Brand Positioning
Perceptual Mapping
Perceptual mapping is a diagrammatic technique used by marketers in an attempt to visually display the perceptions of customers or potential customers.
Typically the position of a product, product line, brand, or company is displayed relative to their competition. Some perceptual maps use different size circles to indicate the sales volume or market share of the various competing products.
Perceptual Map Of Competing Products
Perceptual maps commonly have two dimensions even though they are capable of having several. You can see consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable. This sample of consumers felt that Porsche cars were the sportiest and classiest of the ones in the study. They felt that Plymouth cars were the most practical and conservative. Cars that are positioned close to each other were seen as similar on the relevant dimensions by the consumer. For example, consumers saw Buick, Chrysler, and Oldsmobile as similar. They are close competitors and form a competitive grouping. A company considering the introduction of a new model will look for an area on the map free from competitors.
Perceptual Map Of Competing Products
Perception Mapping It investigates the attitudes and perceptions of • Prescribers • Patients • Pharmacists • Nurses and others In relation to selected product attributes • Efficacy • Safety • Tolerability • Onset of action • Ease of use • Taste • Price etc.
Comparison of Multiple products in relation to 2 attributes mapped on a 2 dimensional scale
Combining the Competing Products and Ideal Points Maps
A company considering introducing a new product will look for areas with a high density of ideal points. They will also look for areas without competitive rivals. This is best done by placing both the ideal points and the competing products on the same map. This map displays various aspirin products as seen on the dimensions of effectiveness and gentleness. It also shows two ideal vectors. This study indicates that there is one segment that is more concerned with effectiveness than harshness, and another segment that is more interested in gentleness than strength.
Perceptual Mapping
For a Pharma product Perceptual Mapping can be done on
Efficacy vs Safety Efficacy vs Price Dosage convenience vs Price Compliance vs Price
Pharma Product Attribute Analysis* *Investigation of the relative competitive advantage of each of the product’s attributes in relation to its competitors’. This assists in product positioning in the area where it presents the highest competitive advantage.
Pharma Product Attribute Analysis* *Investigation of the relative competitive advantage of each of the product’s attributes in relation to its competitors’. This assists in product positioning in the area where it presents the highest competitive advantage. Physicians’ ranks are collected on each of the attributes Attribute Level Price
Rs. 10, Rs. 20, Rs. 30 per day
Dosing
OD, BID, TID, QID
Side Effect
High, Medium, Low
Efficacy
High, Medium, Low
istering
IV, IM, Oral
Positioning
A Kotler definition (1980)
The act of deg the company’s offer so that it occupies
a distinct and valued place in the target customer’s mind. The process of adjusting and presenting the product in a way so that it is the most attractive option for the customer. The sum of mental connections between the consumer and the 1.Attributes and Features 2.Feelings and emotions 3.Price and value 4.Problems products can solve 5.Use or application and 6.Competition offered with the offering
The Mahagurus of Positioning
Al Ries & Jack Trout 1.Positioning : The Battle for Your Mind 2.Marketing Warfare 3.Bottom Up Marketing 4.Horse Sense 5.The 22 Immutable Laws of Marketing Advertising Age : 1972 onwards A series of 3 articles entitled “The Positioning Era” •Since then 500+ speeches •120,000 orange booklets distributed 77
Positioning
All Marketing strategy is built on STP •
• •
Positioning is the act of deg the company’s offering and image to occupy a distinctive place in the minds of the target market. The Goal is to locate the brand in the minds of the consumer to maximise the potential benefit to the firm. Marketers must: • •
•
Plan positions to give their products the greatest competitive advantage in selected target markets Design marketing mixes to create these planned positions (not empty promises)
Implant the brand’s unique benefits and differentiation in customers’ minds
78
A Good Brand Positioning •
Helps guide marketing strategy by clarifying the brand’s essence
•
What goals it helps the consumer achieve and
•
How it does so in a Unique way?
79
The Result of Positioning •
Is the successful creation of a consumer-focused value proposition
•
A cogent reason why the target market should buy the product?
80
Requirements of Positioning •
Similarities and differences between brands be defined and communicated
•
Defining the frame of reference by identifying the target market and the competition
•
Identifying the ideal points of parity and points of difference brand associations (eg. Dettol vs Savlon)
81
Points-of-similarity •
Points-of-similarity are associations that are not unique to the brand but may in fact be shared with other brands
•
Category points-of-parity are essential to a certain product category.
They are necessary - but not sufficient – conditions for brand choice. POPs negate competitors’ PODs
82
Points-of-difference •
Points-of-difference are attributes or benefits consumers strongly associate with a brand and
Believe they could not find to the same extent with a competitive brand eg. Apple : design Nike : performance Lexus : quality •
83
Positioning for Competitive Advantage •
Product’s Position – • •
• •
•
Important: Consumers live in an over-communicated world – want to simplify – positioning occurs with or without the help of marketers
Marketers must: • •
•
the way the product is defined by consumers the place the product occupies in customers’ minds, relative to competing products ( based on perceptions )
Plan positions to give their products the greatest competitive advantage in selected target markets Design marketing mixes to create these planned positions (not empty promises)
Implant the brand’s unique benefits and differentiation in customers’ minds 84
Positioning for Competitive Advantage Positioning Strategy •Unique
selling proposition •Own a word or phrase Avoid: •Under-positioning •Over-positioning •Confused positioning •Doubtful positioning Points of differentiation: •Product – Tanishq, diamonds are pure and certified •Service – Amazon Prime, delivers faster than promised / Indigo on-time performance •Channel – Aquaguard, uses direct to home channels effectively •People – Taj Hotels and Palaces, in the aftermath of 26/11 •Image – Walt Disney / TATA, improve value of businesses using the overall brand 85 image
Positioning for Competitive Advantage Examples of possible value propositions upon which to position: • Based on benefits and price combination
Price
Benefit
More
Same
Less
More for more
More for the same
More for less
Same
Same for More
Same for Same
The same for less
Less
Less for More!
Less for Same
Less for much less
More
86
Positioning for Competitive Advantage Important
Profitable
Affordable
Criteria for determining which differences to promote
Pre-emptive
Distinctive
Superior
Communicable 87
Looking for Points of Difference
Till here on January 9
Points of Similarity (POSs) vs. Points of Difference (PODs)
Template for writing a Positioning Statement For (target customer) who (statement of the need or opportunity), the (product name) is a (product category) that (statement of key benefit – that is, compelling reason to buy) Unlike (primary competitive alternative), our product (statement of primary differentiation).
Grays Tasty Low Fat Cookies
Positioning statement for Lay’s Chips: USA To _____shoppers and consumers_____, _______Lay’s_____, is the brand of (target group, s/need) (Brand Name)
fresh-tasting and perfectly crispy chips that _____shares the moment___, (competitive framework)
(benefit)
because it has been America’s favourite snack for more than 75 years____. (Reason why) The brand character is celebratory, happy, home grown, always there for the family. (Brand character).
Positioning statement for an OTC jet lag remedy
Brand Plan for Pharma Products B. Pharm. + MBA, IVth Year 2017-18
Let us start a great subject with an oxymoron
A Brand Plan cannot be in isolation of the Company Strategy
Alignment of Brand Plan with Company’s Business Strategy and Company’s Vision, Mission and Values
Questions to answer 1. What’s the company’s and the brand’s present situation?
2. Where does the company/brand need to go from here?
Market positions to stake out
Buyer needs and segments to serve
Direction to head
3. How should it get there?
Brand Plan Outline
Executive Summary Market assessment including Competitive Scenario– External Environment Scanning Internal in company performance analysis SWOT Analysis Key success factors Marketing objective Marketing Strategy – S T P Positioning
Brand Plan Outline …contd.
Marketing Mix Communication Plan Campaign & Promotion plan P& L statement Financial Projections Implementation Review & Control
Executive Summary The executive summary is a crucial part of the Brand plan. It is a synopsis of the main points of your business plan, highlighting the key features. This is usually the first part of your plan that top management will read and it must be interesting and concise. Getting the executive summary right is crucial for any Brand Manager.
10
Importance The Executive Summary is the first part of your Brand Plan that Senior Management will read. A well-written Executive Summary will allow the Senior Management to grasp the main highlights of the Brand Plan and leave them excited and wanting to learn more.
3.11
The purpose of the executive summary The purpose of the executive summary is to explain the main aspects of your Brand in a way that will make the reader want to learn more. Yet it must also include enough information that top management sees the scope and potential of your Brand without having to read the entire plan. The executive summary is an overview of your entire Brand Plan and should leave readers with the feeling that the Brand is competently led, and has energy and enthusiasm.
3.12
The purpose of the executive summary …contd. Writing the executive summary can help you with several elements of developing your Brand Plan.
Writing the summary forces you to condense your Brand Plan and focus on the key issues in developing your Brand. The items covered in the executive summary should be given in order of importance, so writing the summary will help you to decide which parts of the entire plan are most crucial, so you can prioritize. The summary can also give you a foundation for writing the entire Brand Plan, provide you with a place to start and an outline for your full plan.
3.13
What to avoid in the Executive Summary?
The executive summary should be written in an interesting way, and not as an outline, a list of elements or as a table of contents to the Brand Plan. It should avoid simply restating parts of the Brand Plan, and should stand alone as an introduction to your business. The Brand Plan should also avoid using exaggeration or hype, as this will lower confidence and the credibility of your plan. The executive summary should not be simply cut and pasted from the entire plan and should sound fresh.
3.14
Contents The Brand Plan should begin with a paragraph that grabs the readers' attention, such as an interesting fact, relevant statistic or history of the business/brand. Many summaries begin with a statement of the purpose of the company or incorporate the company mission statement. Following this, you should include at least one key point from every section of the Brand Plan, although you may have to leave some sections out to avoid making the summary too long. You should conclude with a statement of purpose and detail what you want from the reader – such as the exact amount of investment money needed. The summary should be short, no more than two pages.
3.15
Executive Summary
Summary slides of the full slide deck, including: Bullet points highlighting key issues Brand Strategy – Broad based Thrust areas of the brand plan Brand assessment Recap of financial assessment Max of 3 slides
16
3.17
Market & Product Assumptions Market Assumptions with basis: Anticipated direction that the market would take New developments anticipated Growth of market with focus on treatment patterns
Product Assumptions Price and basis along with competitor price Cost, Field allocation, Trade offers, Pack changes
Total of 2 – 3 slides
18
Market Overview
Stockist Sales Audits & Medical Audits
Covering Market Size, Growth, EI & CAGR Covering Rx Analysis, Customer Analysis & Indication Review Carried out at Therapy Category , Molecule, Key Competitor & Brand Level In-company Sales Analysis
Total of 2 – 3 slides
19
Brand SWOT Analysis Template
SWOT Guidance Internal
Strengths
Weaknesses
•Capabilities/Core competencies •Product attributes •Market position
•Capability gaps •Lack of competitiveness •Vulnerabilities
Opportunities
Threats
•Changing customer dynamics •Unmet customer/market needs
•Changes in market dynamics with anticipated negative implications •New competitors •Govt. Regulations
External
Business Strategy
Business Strategy statement for the brand
Most important indication Key target audience Basic approach to market place (Philosophy for brand) covering 4 Ps of the Marketing Mix
Total of 2 – 3 slides
To: VP/MM From: GPM Frequency: Once a Year Purpose: To arrive at Positioning
22
Your Brand Logo Here
Brand Objectives Quantitative
Qualitative
•Enter TEXT here
•Enter TEXT here
23
Brand Objectives
3 Years Sales Projections Phase it Quarter-wise, month-wise based on salience (past data), strategy planned
24
Customer Segmentation
Customer Segmentation based on analytical inputs Targeting – Coverage plan by speciality along with visit frequency Field Time Allocation Plan 1 – 2 slides providing rationale for above
25
Customer Segmentation •Number of Customers
•% of Customers
Total Audience:
26
Categories/Segments
Segmentation and Targeting Plan Target Audience Name: Target Audience 1
Physician Universe
Target Coverage Objective
Targeting Frequency (calls/year)
Total Calls
% VAR vs PY
100,000
50%
6
300,000
2%
Target Audience 2
0
Target Audience 3
0
Target Audience 4
0
Total
100,000
To: VP/MM From: GPM Frequency: Once a Year Purpose: To Arrive at Total no. of Target Audience Calls
300,000
27
Your Brand Logo Here
Product Profiling Template Different
Not Different
Important
Not Important
“Takeaway”
Select a few key product features to emphasize in promotion Focus on one or two product features in the “important + different” quadrant that are relevant in the customer’s point of view Finally, please insert a concise takeaway statement that provides a summary overview of or key conclusion regarding the data shown Prepare 2 – 3 Slides depending on competitors if needed. To: VP/MM From: GPM Frequency: Once a Year Purpose: To Arrive at Key features for Promotion
Your Brand Logo Here
Key Success factors for Brand
3 – 5 Key issues/ factors or aspects that are critical for Brand performance
Identified from data & perceptions
1 or Max of 2 slides
To: VP/MM From: GPM Frequency: Once a Year Purpose: To Arrive at Key Brand Issues for Brand Performance
29
Your Brand Logo Here
Brand Positioning
Write the positioning alternatives Provide rationale of choosing final positioning statement 1 or Max of 2 slides
To: VP/MM From: GPM Frequency: Once a Year Purpose: To arrive at final positioning for the brand
30
Your Brand Logo Here
Brand Messaging • • • •
Positioning statement followed by messages 3-4 Key messages only List of data sources 1 slide only
To: VP/MM From: GPM Frequency: Once a Year Purpose: To Arrive at Brand Message For Target Audience
31
Your Brand Logo Here
Brand Strategic Summary Strategic Imperatives
Statement
Strategies
Tactics
Strategy 1
Strategy 2
Strategy 3
—
Write key tactics and actions
—
Write key tactics and actions
—
Write key tactics and actions
—
Provide costing on each tactic
—
Provide costing on each tactic
—
Provide costing on each tactic
To: VP/MM — Provide 1 slide From: GPM Frequency: Once a Year Purpose: To Arrive at Brand Strategies & Tactics
for each strategic imperative 32
Your Brand Logo Here
Single Slide Each • • • • • •
Field Selling Expense calculations Sampling Plan Incentive Plan Activity Calendar (With Formats) Control & Monitoring Tracker (With Formats) Expenditure Plan consolidation (With Formats)
To: VP/MM From: GPM Frequency: Once a year Purpose: To arrive at brand input cost
33
Your Brand Logo Here
Sampling Plan
Product pack, Sample Unit pack & cost per pack, Quantity/ MR, Total Qty of samples per cycle Duration of sampling and Annual Total Re. Value of Samples
Incentive Plan Quarter-wise plan – with some quantity or Re. Value linked Incentive or on achievement of Quarterly Target or Annual target All India, Zonal level competition Award (in kind or monetary ) / certificate
Activity Calendar
To: VP/MM From: GPM Frequency: Once a year Purpose: To arrive at yearly activities and follow up
3.37
No Brand Plan is complete without the Monthly/Quarterly/Half-yearly and Annual Review & Control mechanisms in place
3.38
Various monthly, quarterly, half-yearly and annual metrics are determined in advance to ensure that the brand plan remains on track To make sure that the Profit and Loss (P&L) objectives of the brand are achieved, there are various monthly, quarterly, half-yearly and annual metrics that are determined in advance to ensure that the brand plan remains on track. The various parameters that are monitored during the course of a product launch and right till the end of the financial year •Field Selling Expense calculations •Sampling Plan •Incentive Plan •Activity Calendar (With Formats) •Control & Monitoring Tracker (With Formats) •Expenditure Plan consolidation (With Formats)
3.39
Review & Control
Revenue and Unit Sales Expenses Customer Market / competitors’ activities
Promotion Monitor
Analyze MR wise Rx response from Focus doctors who were given major inputs Compare with secondary sales on weekly/monthly/quarterly basis
Expenditure Plan Consolidation
TO:VP/MM FROM:GPM FREQUENCY:ONCE A YEAR PURPOSE:INPUT COST TRACKING
Brand Contribution – P&L Format
TO:VP/MM FROM:GPM FREQUENCY:ONCE A YEAR PURPOSE:TO ARRIVE AT P&L FOR BRAND
Zone-wise Promotional/Detailing to Sales Analysis
In-depth analysis of weak zone
Deviation Report
Segmenting Market: Customer Segmentation, Customer Targeting
Segmenting Market: Customer Segmentation, Customer Targeting
The Essence of Pharmaceutical Product Strategy
The STP Model
The Essence of Pharmaceutical Product Strategy
The STP Model
The Essence of Pharmaceutical Product Strategy
The STP Model
Market Definition We can think of all potential customers sharing a particular need or want. In the consumer goods world, we can think of Sports car markets • Home Appliances Market • Cola drinking markets •
Pharmaceutical Marketers may define their market using various criteria:
Pharmaceutical Market Definition Methods
•
Segmentation based on end customer profile A retired elderly patient may be looking for an efficacious, but
mainly safe medication that will not interact with other comedications or disease states and at a cheap price. A working professional may need an efficacious product that will not cause drowsiness or other severe adverse events. •
A young mother may ask her daughter’s pediatrician to give her a prescription for a cough syrup she has been told by her neighbour that works well. •
Cancer or AIDS patients may be open to experimental and powerful medication that may extend their hopes for survival. •
Identifying markets and sub-markets Based on these observations of Prescriber profile • Patient profile • Market research data • Prescription audit data • Sales force suggestions and countless other sources... •
... marketers are trying to identify markets and sub-markets for their products, allowing them to optimally target their campaigns and resources toward these different groups of customers.
Market Segments Each distinct group of customers constitutes a market segment. The process of identifying each segment and its characteristics is called market segmentation.
The Concept of Market Segmentation
Because a single product is not likely to appeal to all customers, an effort is made to identify groups of customers that find different product variations to be attractive. Segmentation is the process of analyzing and breaking down the whole market into specific sub-markets, each with their own characteristics and needs. The Important Benefits of Market Segmentation Deg optimal product/market matches • Proper promotion strategies • Effective promotional spend allocation • Identifying the most appropriate distribution channels and • Exploiting neglected segments •
Different criteria may apply to multiple stake holders in the Pharma Industry Demographic, socio-economic or consumption pattern criteria may be especially suitable towards patient segments While psychographic and behavioural criteria may be equally important in segmenting prescriber groups. For Institutional business where purchase decisions are made by stakeholders other than the prescribing doctors, the segmentation criteria may be different.
Characteristics of Market Segments for Pharma Products •
Differentiable : Ob/Gynae DRs. wanting to Rx NSAIDS for PMS or patients with
PMS
Measurable : Hospital oncologists treating inpatients • Accessible : Distribution reach, Dr. presence • Substantial : Mass diseases vs rare diseases • Actionable : Purchasing power, authority • Defendable : Size of competition and intensity of competition •
The Market Segmentation Steps
Customer Segment Analysis Behaviour Analysis)
(includes
Targeting
Targeting Targeting in very simple is defined as choosing the specific individuals to win over.
Target Market
A set of buyers sharing common needs and characteristics that the company decides to serve
A group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges
3.66
Perceptual Mapping, Brand Positioning
Perceptual Mapping
Perceptual mapping is a diagrammatic technique used by marketers in an attempt to visually display the perceptions of customers or potential customers.
Typically the position of a product, product line, brand, or company is displayed relative to their competition. Some perceptual maps use different size circles to indicate the sales volume or market share of the various competing products.
Perceptual Map Of Competing Products
Perceptual maps commonly have two dimensions even though they are capable of having several. You can see consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable. This sample of consumers felt that Porsche cars were the sportiest and classiest of the ones in the study. They felt that Plymouth cars were the most practical and conservative. Cars that are positioned close to each other were seen as similar on the relevant dimensions by the consumer. For example, consumers saw Buick, Chrysler, and Oldsmobile as similar. They are close competitors and form a competitive grouping. A company considering the introduction of a new model will look for an area on the map free from competitors.
Perceptual Map Of Competing Products
Perception Mapping It investigates the attitudes and perceptions of • Prescribers • Patients • Pharmacists • Nurses and others In relation to selected product attributes • Efficacy • Safety • Tolerability • Onset of action • Ease of use • Taste • Price etc.
Comparison of Multiple products in relation to 2 attributes mapped on a 2 dimensional scale
Combining the Competing Products and Ideal Points Maps
A company considering introducing a new product will look for areas with a high density of ideal points. They will also look for areas without competitive rivals. This is best done by placing both the ideal points and the competing products on the same map. This map displays various aspirin products as seen on the dimensions of effectiveness and gentleness. It also shows two ideal vectors. This study indicates that there is one segment that is more concerned with effectiveness than harshness, and another segment that is more interested in gentleness than strength.
Perceptual Mapping
For a Pharma product Perceptual Mapping can be done on
Efficacy vs Safety Efficacy vs Price Dosage convenience vs Price Compliance vs Price
Pharma Product Attribute Analysis* *Investigation of the relative competitive advantage of each of the product’s attributes in relation to its competitors’. This assists in product positioning in the area where it presents the highest competitive advantage.
Pharma Product Attribute Analysis* *Investigation of the relative competitive advantage of each of the product’s attributes in relation to its competitors’. This assists in product positioning in the area where it presents the highest competitive advantage. Physicians’ ranks are collected on each of the attributes Attribute Level Price
Rs. 10, Rs. 20, Rs. 30 per day
Dosing
OD, BID, TID, QID
Side Effect
High, Medium, Low
Efficacy
High, Medium, Low
istering
IV, IM, Oral
Positioning
A Kotler definition (1980)
The act of deg the company’s offer so that it occupies
a distinct and valued place in the target customer’s mind. The process of adjusting and presenting the product in a way so that it is the most attractive option for the customer. The sum of mental connections between the consumer and the 1.Attributes and Features 2.Feelings and emotions 3.Price and value 4.Problems products can solve 5.Use or application and 6.Competition offered with the offering
The Mahagurus of Positioning
Al Ries & Jack Trout 1.Positioning : The Battle for Your Mind 2.Marketing Warfare 3.Bottom Up Marketing 4.Horse Sense 5.The 22 Immutable Laws of Marketing Advertising Age : 1972 onwards A series of 3 articles entitled “The Positioning Era” •Since then 500+ speeches •120,000 orange booklets distributed 77
Positioning
All Marketing strategy is built on STP •
• •
Positioning is the act of deg the company’s offering and image to occupy a distinctive place in the minds of the target market. The Goal is to locate the brand in the minds of the consumer to maximise the potential benefit to the firm. Marketers must: • •
•
Plan positions to give their products the greatest competitive advantage in selected target markets Design marketing mixes to create these planned positions (not empty promises)
Implant the brand’s unique benefits and differentiation in customers’ minds
78
A Good Brand Positioning •
Helps guide marketing strategy by clarifying the brand’s essence
•
What goals it helps the consumer achieve and
•
How it does so in a Unique way?
79
The Result of Positioning •
Is the successful creation of a consumer-focused value proposition
•
A cogent reason why the target market should buy the product?
80
Requirements of Positioning •
Similarities and differences between brands be defined and communicated
•
Defining the frame of reference by identifying the target market and the competition
•
Identifying the ideal points of parity and points of difference brand associations (eg. Dettol vs Savlon)
81
Points-of-similarity •
Points-of-similarity are associations that are not unique to the brand but may in fact be shared with other brands
•
Category points-of-parity are essential to a certain product category.
They are necessary - but not sufficient – conditions for brand choice. POPs negate competitors’ PODs
82
Points-of-difference •
Points-of-difference are attributes or benefits consumers strongly associate with a brand and
Believe they could not find to the same extent with a competitive brand eg. Apple : design Nike : performance Lexus : quality •
83
Positioning for Competitive Advantage •
Product’s Position – • •
• •
•
Important: Consumers live in an over-communicated world – want to simplify – positioning occurs with or without the help of marketers
Marketers must: • •
•
the way the product is defined by consumers the place the product occupies in customers’ minds, relative to competing products ( based on perceptions )
Plan positions to give their products the greatest competitive advantage in selected target markets Design marketing mixes to create these planned positions (not empty promises)
Implant the brand’s unique benefits and differentiation in customers’ minds 84
Positioning for Competitive Advantage Positioning Strategy •Unique
selling proposition •Own a word or phrase Avoid: •Under-positioning •Over-positioning •Confused positioning •Doubtful positioning Points of differentiation: •Product – Tanishq, diamonds are pure and certified •Service – Amazon Prime, delivers faster than promised / Indigo on-time performance •Channel – Aquaguard, uses direct to home channels effectively •People – Taj Hotels and Palaces, in the aftermath of 26/11 •Image – Walt Disney / TATA, improve value of businesses using the overall brand 85 image
Positioning for Competitive Advantage Examples of possible value propositions upon which to position: • Based on benefits and price combination
Price
Benefit
More
Same
Less
More for more
More for the same
More for less
Same
Same for More
Same for Same
The same for less
Less
Less for More!
Less for Same
Less for much less
More
86
Positioning for Competitive Advantage Important
Profitable
Affordable
Criteria for determining which differences to promote
Pre-emptive
Distinctive
Superior
Communicable 87
Looking for Points of Difference
Till here on January 9
Points of Similarity (POSs) vs. Points of Difference (PODs)
Template for writing a Positioning Statement For (target customer) who (statement of the need or opportunity), the (product name) is a (product category) that (statement of key benefit – that is, compelling reason to buy) Unlike (primary competitive alternative), our product (statement of primary differentiation).
Grays Tasty Low Fat Cookies
Positioning statement for Lay’s Chips: USA To _____shoppers and consumers_____, _______Lay’s_____, is the brand of (target group, s/need) (Brand Name)
fresh-tasting and perfectly crispy chips that _____shares the moment___, (competitive framework)
(benefit)
because it has been America’s favourite snack for more than 75 years____. (Reason why) The brand character is celebratory, happy, home grown, always there for the family. (Brand character).
Positioning statement for an OTC jet lag remedy
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