2. Improving packing i.e catchy looking
Creating pull demand by DTC(direct to
customer) i.e “Over The Counter” product
3. "The OTC pharma market is likely to grow at a
higher rate compared to the overall pharma market.
The biggest challenge for pharma companies
dealing in OTC products is that, unlike the
traditional pharma model of “ push” ing generic
products by selling to doctors, the OTC segment is
more analogous to the FMCG segment. It is critical
to invest in brand building that will create a “ pull”
for the product directly from the consumers"
10. "Peak performance at work and job security are
now more important to consumers meaning that
preventive remedies, convenience OTCs, energy
boosters, brain-boosting supplements and
formulations for sight and hearing provide growth
opportunities, along with contraceptives for
women who want to work longer before having
children."
11. Factor that Drives OTC Growth in India Compare
To Rx Market.
growing awareness and increased focus on “wellness” as
compared to “illness”
The higher cost of medical treatment encourages people to
opt for preventive measures such as nutritional
supplements
Increasing disposable incomes and incidence of lifestyle
diseases are also contributing to the demand for such
products.“
Booming of retail chain.
All these factors indicate that the OTC market could
witness a healthy rate of growth in the coming years.
12. The OTC product will need to be
treated as a fast moving consumer
goods (FMCG) product specially while
communicating a benefit, ensuring
distribution or ensuring consumer
friendly packaging
14. OTC market in India
In 2009 the Indian OTC segment was Rs 2800 Crore Approx
with a annual growth rate of 12-20%.
Increasing urbanizsation has changed people's lifestyles and
has led to increases in lifestyle diseases.
The global OTC market is projected to be USD 95 billion
with a annual growth rate of 4.5%.
The leading therapeutic segments in the rural market include
cough and cold preparations,vitamins and minerals and
analgesics segments.
16. Indigestion preparations segment is the fastest growing
segment followed by the medicated skin products and
analgesics segment.
OTC drugs are sold through five different types of distribution
outlets, namely—department stores, independent retailers,
pharmacies/drugstores, specialist retailers and
supermarkets/hypermarkets.
By praveen
21. : Extensive availability (push)of
product both at macro & micro level;so that
customer should not visit 10-12 shops for
getting brand
: Low-medium cost media plan(here
special slot of weekend are preferred)to
create pull in brand promotion
24. Pharmaceutical companies have so far
focused most of their attention on doctors,
but understanding the mind of retail
chemists is going to be crucial, especially
with the projected tilt to over-the-counter
(OTC) medications.
COMPASS (Chemist’s OTC Market Probe and
Assessment Study
25. What is his
attitude
towards
do pharma
OTC drugs?
companies really
W irati e his
How he
he at d ns?
looks at understand the
m pe s
r
o
fro ex oe
asp at a
them? mind of a chemist?
an ma
mp phar ct
?
h
ies
W
h
Wh
at d
him rives
co
?
Company’s strategy maker
30. Proper planning of media is very essential , so that it
can give beneficial (productive) Impact in
marketing; else Improper planning may not only kill
brand but also like burning hand .
Key factor’s need to be taken into consideration like
Understanding target customer(Rural & Urban),
For Class A &B class cities low cost media should be
preferred.
Aggressive media coverage in first month of launch
followed by reminder advt.
Organizing events in school such as drawing competition ,seminar
followed by free media coverage.
31. News Channel Period FCT Spot Detail Seconds Total
Option 1
India TV April 10th - May 9th 17008 ads of 10 sec for 30 days 2400 408000
Zee News April 10th - May 9th 17008 ads of 10 sec for 30 days 2400 408000
Total Investment 816000
Service Tax Applicable
Option 2
India TV April 10th - May 9th 17008 ads of 10 sec for 30 days 2400 408000
NDTV April 10th - May 9th 16008 ads of 10 sec for 30 days 2400 384000
Total Investment 792000
Service Tax Applicable
Option 3
India TV April 10th - May 9th 17008 ads of 10 sec for 30 days 2400 408000
Star News April 10th - May 9th 24008 ads of 10 sec for 30 days 2400 576000
Total Investment 984000
33. Recipe of Success in OTC:
The bottom of the pyramid marketing strategy to lower down
the cost of nutraceutical/OTC products by coming up with
innovative ideas like 'the single use therapy' and encourage the
consumers to try them out and realise the predictable benefits
.
34. Recipe of Success in OTC:
Calcium Sandoz, Crocin, Benadryl and many such brands have been long
existent in the market and have been prescribed to and used by millions of
consumers with good results. There are more than 50 such brands in
different non serious therapeutic categories which are ripe for the OTC
switch. The advantage is the brand equity that these brands already possess.
.
To be continued:
35. Initially we will go for circular’s and pamphlets in
market to Ensure Availability in market by dec’10.
Later stage we will go for Advt. using communication
means i.e advt. in National national newspaper & High
TRP magzines.(jan’-march11)
Launching of Nutraceuticals products to stregenthen
portfolio like Multivitamines,alovera &sucralose &
gingseng.
April’11 Onwards after ensuring avalability
Media campaign in leading channels.
36. CONCLUSION
The converging economic and demographic
trends in India have laid the groundwork for
opportunity in nutraceuticals. Today the
opportunities are plenty, there is vast empty
space in the market, the consumer is hungry for
products, the market forces are openly
welcoming the new entrants, the competition is
not yet intense, and the growth drivers are in
place