Week 21 (7.9.07)

Learnt ( From Marketing Plan - William Luther)


There are 7 components of planning:

1) Fact Book - Analyze market economic, competition, your business and customers

2) Strategic & Business Plans - Select markets with good profits potential and isolate critical business strengths needed to become competitive

• Strat Plan - state what you should start doing now to end up where you want to be in the future
• Business Plan - given the direction of the strategic plan, what should you be doing right now, in the short term, to get there?

3) Operational Plan - Develop business strengths that can deliver a competitive market position

4) Positioning Statement - Determining how you wnat your business strengths to be perceived by prospective customers

5) Marketing Plan - Translate the positioning statement into recognizable and preferred brands

6) Action Plans - Detailed execution of one or more strategies

7) Feedback - Using controls and market research to monitor existing and future conditions for inclusion in the Fact Book and plans

Unlearnt

Strategic plans sets up the business plan, business plan set up the operational plan. I can't start my planning with the marketing plan until I decided the overall direction of business.

Relearn

In my recent business analysis, Celebrex market share in PH has drop significantly compared to Arcoxia. So, what is the problem?

With the market analysis, I tried to gather more informations on the market economics such as size of the pain market ,OA & RA market, competitor's price/promotions. In terms of competition, PH doctors are more receptive in using COX-2 drug versus NSAIDs because of better tolerability, efficacy and safety. Customers want a product that helps to relieve pain and works for them. Cost must be affordable.

Therefore, I analyze base on the 4 P's : Pricing, Product, Place and Promotion & Customer prospective in 4C's: Convenience, Customer Solution, Communication and Customer Cost. Understand also Celebrex positioning statement and what is Celebrex product different from Arcoxia. Do SWOT analysis for Celebrex.