Playhaler Essay

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Recommended: Segmentation strategy for markets in pharmaceutical industry

SUMMURY

Marketing is an important element of a business plan. As a man needs food to survive, business needs marketing to succeed. According to Dibb, Simkin, Pride, and Ferrell, ‘Marketing consists of individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion and pricing of good, services and ideas’(Dibb). Our product ‘Playhaler’ is an anxiety decreasing pressurized metered-dose-inhaler (MDI) asthma administration device, which helps in controlling asthma in young children.

Our marketing plan consists of:
STP process
The marketing mix
Competitor analysis
SWOT analysis

We have segmented the market in three parts as follows:

- Demographic Segment:
Asthma is a condition which can affect any individual. Playhaler, is a high quality and a …show more content…

We also plan to supply in pharmacies such as in Boots, Tesco and ASDA. Have a tie up with a charity- ‘asthma UK’ and sell our products in their exhibition stalls. Also, sell online through Amazon and EBay.

- Promotion –
Promotion is the heart of marketing. We target to promote on social media websites like Facebook and Twitter (costs 20 pounds/day). Also promote through a charity – asthma UK through standees, discount vouchers and flyers in exhibition stall. Putting up posters, Pamphlets, point of sale standees in pharmacies, setup stalls in schools and advertise in hospital magazines. Have an assistant to promote in schools. Also, we plan to collect information from hospitals and send emails to asthma patients (Direct email marketing).

- Price –
The total cost of promotion for 1 year is £10,000 and after calculating the profit margins without reducing the level of sales volume, the cost of the product is £23 each (Butler).

Brands such as Fisio Chamber and Elipipe Aerochamber are our competitors.

SWOT

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