MARKETING STRATEGY ASSIGNMENT

JIGAR PRIYADARSHI M.PHARM (QA) +MBA ROLL NUMBER A005

MARKETING STRATEGY OF MANKIND PHARMA

Mankind Pharma established in 1995 with a capital of 50 lakhs, Mankind at present is a leading pharmaceutical company of India. Mankinds Goal is to help the community to lead healthy life through two parallel objectives: formulating, developing & commercializing medicines, and delivering affordable & accessible medication that satisfy urgent medical needs. Mankind has out-performed the Indian Pharmaceutical industry by growing at the rate of 60% year after year. It is among the top 5 fastest growing Pharma companies of India as per ORGIMS. Mankind is a fully integrated pharmaceutical company having pan India presence with a comprehensive network of 52 C&F agents & 6000 Stockists. Mankinds strong portfolio of businesses, geographies and products provide the strategic benefits of integration that allow performing best in an increasingly competitive market. Mankind have a strong market presence in Antibiotics, Antifungals, Gastrointestinal, NSAIDs, Anthelmintic, Cardiovascular, Dermal and Erectile Dysfunction categories. Numbers of our products are at top 5 positions as per ORG-ims.

SWOT ANALYSIS:
STRENGTH: It is one of the largest pharmaceutical company in India and was ranked No.1 Company of India as per Prescription/Doctor/Month audit of IMS-Health The company's product pipeline ranges from Pharma to over-the-counter and FMCG brands, which include Addiction, Gas-O-Fast, Kaloree1, Kustody, PregaNews and Unwanted72 A strong distribution network with 62 C&F agents & 6000 Stockiest. Their ads are quite strong unlike other contraceptive brands; selling products in unconventional places like paan shops has helped product sales

WEAKNESS: Presence in very niche categories which constitute a very small part of consumers regular purchases It is perceived more of a Pharma company and not that strong in FMCG

OPPORTUNITIES: With growing awareness and modernization, the demand for its products is bound to rise Related diversification into growing categories With growth in modern retail, it should look into opportunities of how to cater to this channel

THREATS: Intense and increasing competition amongst other FMCG companies The needs that its brands cater to are not openly discussed in Indian culture which makes promotion and advertising a little difficult Competition from unbranded and local products

STP BY MANKIND PHARMA: SEGMENTATION:

ACCORDING TO THE MEDICINES, OTC AND FMCG PRODUCTS

Discovery Mankind Incepted in the year 2003 as a marketing division of Mankind Pharma, today Discovery Mankind is having a wide product range to treat diabetic metabolic disorder. It is also having products in antibiotic, GI, anti-fungal & lifestyle segments.

Life star Pharma Launched in the year 2005 as a group company. Lifestar offers comprehensive range of products in ophthalmic & dermal segment. It is also having product range in antibacterial, GI & other segments.

Special Mankind Special Mankind launched in January 2007 is poised to meet OTC requirements. This division is pioneer in launching of premium category condoms, toothbrush, sanitary napkins & sweeteners.

Future Mankind Future Mankind was positioned in the year 2007 to cater the growing demand of acute & chronic therapeutic segments. In Future Mankind orthopaedic drugs along with GI & other specialty is comprehensively represented in line to Mankind group philosophy.

Magnet Labs With purpose to cater the growing market of neuropsychological segment Mankind acquired Magnet Labs in the year 2007. It is pioneer in formulations of acute & chronic psychiatric segments.

Vet Mankind The strong impact of the philosophy of Serving Life leads to the foundation of this division in the year 2007 to serve the India.

TARGETING:
Mankind sales force target the doctors as per their value generation and potentiality. Also All Indian households especially middle class; Prescription Support is valued in terms of money value, accordingly the Target doctor categorize as: Most important doctors (M.LP.), generating prescription-has rupees value 5000-10000 per month. Very important doctors (V.LP), generating prescription-has rupees value 2500 - 5000 per month. General Category (G.P.) generating prescription having rupees up to 1000 - 2500 per month.

POSITIONING:
In Parma marketing the positioning of the product is done the basis of the indication in which the drug has the medicinal values and accordingly the product is promoted. Mankind Pharma also follows the same principle. However they have been categorized depending upon the benefits of the product in the disease or disorder.

FOR EXAMPLE: 1. The drugs used in treatment of hyperacidity are categorized & Proton pumps inhibitors and is positioned and promoted to the Gastroenterologist mainly, who are specialist in the treatment of ulcer of stomach or intestine. 2. After conducting the survey and determining the potentiality of the doctors, the next step is to meet the doctor personally and detail him the quality and benefits of the product." Mankind Parma always believes in Productive call." 3. Company appointed medical representative who perform this job by means of a visual aid does the detailing of product to the doctors. Visual aid is a printed material, which visualizes the USP's (Unique selling point of the product) and important aspects of the product. 4. As the name suggest the Visual aid helps to emphasis the benefits of the product visually. Company always tries to use the visual aid, which will magnify the benefits and USPs of the product effectively. 5. Sampling is a free distribution of the product to the doctor, so that he can ensure result of the products. Sampling is done to the physician and to the doctors through the M.R. so that the doctor can give the product to the patients and ensure the result of the product in the Patient. The sampling policy of Company is quite specific. 6. This is another important marketing tool, which the company is using tactfully & skilfully. Regular follow-ups means doing something special or unique which will make the doctor to remind the product or conducting the activity that will continuously hammer the product in the doctor's mind. 7. Regular follow-up mainly include sending a reminder card to the doctors, requesting the doctor to prescribe the product. Sending reminder cards also include drafting & sending a thanks-giving note to the doctor for extending their prescription support to the doctor.

Marketing strategy adopted by Mankind Pharma:

Mankind Pharma is leading pharmaceutical company having a range of product used as medicine. The company has the sound marketing strategy, which has helped the company to prosper. Since Pharma marketing is indirect marketing, company has developed strategy to sustain and to prosper in the market. The main features / characteristics company's marketing strategy mainly includes1] Strategy keeping core the prescribers. 2] Strategy keeping in mind the retailers also. 3] Strategy keeping in view the Sales force that is the important weapon of the company.

4] Company has given prime importance to the patient i.e. direct customer by making economy in the product.

Strategy for prescribes physicians

Physicians are the target customers for the company; hence the company is always trying to develop the strategy so that there is increase in the physicians. The strategy developed for the doctors mainly includes Conduction survey. Checking the potentiality of the doctors. Positioning of the product. Detailing of the products to the doctors. Sampling Regular follow-ups Providing the informative literature. Organizing Health check-up camps. Categorizing Doctor according to the prescription support. Giving Gifts as token for gesture.

Sponsorships. 2. Strategy keeping in minds the retailers.

Retailers are the most important part of selling and turnover of the products. So mankind prepare a strategy for attract the retailers. Strategy related to Price. Strategy related to the chemist. Mankind has understood the importance of the chemist have in pharmaceutical marketing and has developed separate strategy keeping for the chemist. Giving Discount on purchase. Giving Additional offers on purchase. Giving gifts on purchase. Facility of expiry reimbursement.

In this type of the marketing strategy Mankind is trying to influence the chemist purchase behaviour.

3. Strategy for sales force.

When it started in 1995, Mankind had a presence in just two states. Today, Mankind covers the entire length and breadth of India. The company focuses on the grassroots by tapping small towns and rural areas through its team of about 1,900 medical representatives. It is doing fairly well even in cities like Delhi, Chennai, and Mumbai. Mankind does not hire managers with fat packages unnecessarily; they spend more on training and skill development of the employees.

MARKETING MIX OF MANKIND: Product:

Mankind go with the masses with products they can afford. It's worked like a charm so far and, in the process, demolished the margins of giant Pharma companies that once ruled the roost in the Indian market. "Competition fears us because consumption-wise people consume more of our medicine

Promotion:
Physicians are the target customers for the company; hence the company is always trying to develop the strategy so that there is increase in the physicians. The strategy developed for the doctors mainly includes Conduction survey. Checking the potentiality of the doctors. Positioning of the product. Detailing of the products to the doctors. Sampling Regular follow-ups* providing the informative literature.* Oragansing Health checkup camps. Categorizing Doctor according to the prescription support. Giving Gifts as token for gesture. Sponsorships.

Place:
Mankind focused on the niche market for itself by storming rural markets and slashing drug prices. An aggressive sales force meticulously reached places where others couldn't, making it one of the fastest growing Pharma company within a decade.

Price:
They carefully selected their products for rural markets, incentivized the distribution channel through schemes and controlled sales costs through local hiring. And small increments in MRP directly flow to the bottom line. E.g. we do not hire managers with fat packages unnecessarily; however we are proud of our sales force

References:

http://www.mankindpharma.com/division.php http://www.mankindpharma.com/admin/pdf/Brochure_2.pdf http://www.business-standard.com/article/companies/mankind-pharma-set-to-tap-core-drugsmarket-112071900076_1.html http://www.mbaskool.com/brandguide/pharmaceuticals-and-healthcare/6602-mankindpharma.html