In India the problem of acne is more prone among the teenagers and young ones. To get rid of this problem there are many variety of acne creams in the market of India. There is an expanding market for the medicated skin products like acne treatments, anti-fungal and anti-bacteria creams etc. This market is valued as per the RSP (Retail Selling price) and this also comprises of the applicable taxes(Acne free, 2012).
Indian OTC pharmaceuticals industry has grown at a strong rate from the period in between 2008-2012. In this there has been a major increase in the growth of vitamin and minerals division. It is a trend which is forecasted till 2017(OTC pharmaceutical India, 2013).
There is a growing demand for anti- acne products in India and the market of Indian OTC pharmaceuticals industry has recorded its total revenue worth 1,834.2 million USD during 2012. It shows the compounded annual growth rate (CAGR) of 8.5 percent in the period in between 2008-2012. It is with the anticipated CAGR of 9.7 percent in the five year period from 2012 to 2017 that this is anticipated to give a boost to the market value worth 2,913.5 million USD by the end of 2017. The markets in Japan and China are growing with CAGRs of 7 percent and 5 percent respectively and are expected to achieve worth of USD 21,948.0 million and USD 15,902.3 million in 2017(marketline , 2013).
Table 1 India OTC pharmaceutical industry worth from 2008 -2012
Figure 1: India OTC pharmaceuticals market value 2008-12
PEST Analysis
Political analysis
It is after 1991 that the Indian government has introduced several changes in the Indian markets like the de-regulation of the markets in India. This has helped in the removal of the bottle necks that were responsibl...
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...ts. Thus a competitive pricing strategy would be used by Bursti limited so that it is able to make a profitable entry in the Indian markets. The customers would be charged such prices that the customers are able to find it as true worth for the amounts which they are incurring on its goods.
Porter’s Generic Strategy
Cost Leadership Strategy
Bursti limited would be focussing on the strategy of cost leadership by making sure that its cost of operations are least and it is able to show its efficiency in confronting the competition in the market. For this it would be using all possible means like outsourcing of its certain operations or setting up of the production plans in the low cost locations etc. so that it is able to achieve the target of having the least cost of production and achieve the position of being a leader in lowering of its costs. This would help the
The drug manufacturing industry is concerned with the development, production and marketing of drugs which are to be used as medication. This is one of the oldest industries in the world. The first drug stores date back to the middle Ages. Some of today’s pharmaceutical companies have been founded in the beginning of the previous century. Important discoveries have been made in the early 20th century such as insulin and penicillin who became mass produced. More drugs were developed during the 1950s-1960s such as contraceptives and heart drugs. During that time numerous organizations and declarations were established in order to regulate the industry. Until the 1970s the drug manufacturing industry remained relatively small, and then it began expanding quickly. With the development of technologies and the internet research, manufacturing, marketing and sales of drugs became a lot easier.
...ll help the company in selling generic drugs and provide affordable medications to its customer base.
Redmond GP, Olson WH, Lippman JS, Kafrissen ME, Jones TM, Jorizzo JL, (1997). Norgestimate and ethinyl estradiol in the treatment of acne vulgaris: a radomized, placebo controlled trial. Obstetrics and Gynecology, 89(4), 615-22
...s: each was licensed to a much larger firm because the originator firm lacked the capability to market the drug. the larger analysis of blockbuster drugs showed that this thread is common across blockbusters that originated with smaller firms. The largest firms appear to hold a significant advantage in commercialization—they are highly effective at extracting the value of innovative drugs . The study suggests some qualified reasons for skepticism that the end of the blockbuster era will bring a major upheaval in the industry. Large firms’ advantage in commercialization suggests that they may maintain their dominant position. Marketing of pharmaceuticals may move from broad-based to targeted approaches, but a company with a broad reach may still have an advantage in identifying markets for niche drugs and commercializing the drugs within those more narrow market
Saigusa, O. (2006). Japan's healthcare system and pharmaceutical industry. Journal of Generic Medicines , 4, 23–29.
The number of adults suffering from acne is also growing every year. It is essential for the people to research all the treatment options available to them before going in for a particularly appealing option without considering all the pros and cons involved. A dermatologist’s office would be a good place to start. An individual should stick with his own dermatologist because they are often well informed about their patients requirement and will give the best advice. Suggested treatments for acne vary depending upon the extent and the affected area. Benzoy...
Acne is described as the most common skin disorder that affects 85% of individuals ranging from pre-teenagers to grown adults, specifically between the ages of 12-24 (Tahir 2010). In the midst of the 50 million people affected with acne vulgaris, adolescences are generally most susceptible due to elevated sexual hormones (Zaenglein et al., 2016). Numerous factors increase the production of acne vulgaris. Inadequate diet, menstruation, sweating, over exposure to ultra violet rays and excessive stress influence the appearance of acne (Shamsi et al, 2015). High rates of acne vulgaris occurring in people across the world produce a greater need for antibiotics along with it. Topical and oral antibacterials are the typical forms of treatment yet an innumerable amount of products have been created to medicate the disorder. Bacterial resistance has issued the growing need for newer and
For commodity generic drugs, Teva has an opportunity to expand its core business into emerging markets, but there it will have to face institutional voids because such markets are driven by physicians and both physician and other people are not aware about the effectiveness of generic drugs. To cope with the challenge of institutional voids Teva have to look for some competent small pharmaceutical firms for acquisition and some big firms for the joint venture. For changing the perceptions of people and physicians, Teva will require to run marketing campaigns and direct approaches to physicians to develop a market for their products.
After studying the cosmetic market we can identify a series of needs in this market:
The pricing strategy will start out rather high for this product upon its release in order to draw a more selective crowd such as the upper class members of the urban society. Once the product has succeeded within this market there will be a development of additional variations of the product which will allow for certain models, with less features, to be sold at a lower price point in order to attract the members of society who are less willing to pay the high asking price for the top of the line version of the
Beauty begins inside the body, not outside. Washing the face and applying the latest product on the market that promises to clear acne, leaving the face smooth and unblemished is only part of the battle, a small part. Feeding the body with nutrients by ingesting foods and/or vitamin supplements rich with antioxidant properties will sustain health and vitalization that will reflect on the outside, affecting overall appearance. The Vitamin for Acne Guide, http://acnevitamin.org/, answers many of the questions related to acne and vitamin usage necessary to maintain skin that is healthy and blemish free.
Whereas, China’s annual herbal drug production is about US $48 billion with export of US $3.6 billion. Currently, United States has the largest share for Indian botanical products which accounts for about 50% of its total export. The major importers of herbal medicine from China are Japan, Hong Kong, Korea and Singapore which accounts for 66%. WHO includes phytotherapy in its health programmes and gives basic procedures for the validation of herbal drugs in developing countries. Eastern countries like India and China have well-established herbal industries and Latin American countries have been carrying out research programs in medicinal plants and their standardisation procedures. In Germany, 50% of phytomedicinal products are sold on medical prescription and the cost being refunded by health insurance companies. In North American countries, phytomedicinal products are sold as .health foods. Consumers and professionals have struggled to change this by gathering information about the efficacy and safety of these products and new guidelines for their registration are now part of FDA policy. In 1997, the North American market for products of plant origin reached US$ 2
“India was a latecomer to economic reforms, embarking on the process in earnest only in 1991, in the wake of an exceptionally severe balance of payments crisis”(Ahluwalia 2002).The idea being simple ,there was a need to ...
In discussion, it were suggested that the individual him/herself, should approach the dermatologist to do skin checkup, and get suggested the right skin care and beauty products; and the products should be avoided for any skin allergies. This is a better way where the consumers will have a better idea of what needed by their skin and they can consider this when buying beauty products and also to avoid overspend. The consumers also should check for the review of users of the beauty products they planned to buy and visit the government website to check the registered and certified beauty products; and also to report the uncertified one for the government to take action. It will make people aware of brands that do follow the rules set by government and have less side
Mistine is still the number one cosmetic in Thailand and provides more than 6,000 products, which are divided into 5 groups (Mistine Cosmetics, n.d.). Mistine offers Body Care, Personal Care, Make Up, Fragrance, and Skin Care (Mistine Cosmetics, n.d.). All of their products are certified and produced through quality manufacturers (Mistine Cosmetics, n.d.). The distributor, Better Way Company, feels that because of its acceptance throughout the Thai market Mistine can become “number one in the heart of worldwide cosmetics users” (Mistine Cosmetics, n.d.). Better Way recently built a new “state-of –the-art” distribution center (Mistine Cosmetics, n.d.). It is being considered “one of the most advanced technological systems in South East Asia” (Mistine Cosmetics, n.d.).