Brand positioning ( marketing plan) paper need 4 references and 700 words for new made up product attached

Running Head: CURACOLD DRAFT 2 1

CURACOLD DRAFT 2 15

Fall 2018 BUSI 330-D06 Marketing

Collaborative Marketing Plan for CuraCold by Pfizer, Inc.

Draft 2

Kathleen Steele, Natasha Suarez, Bryan Wagoner, and Melanie Wheeler

November 19, 2018

Respectfully Submitted to:

Prof. Rod Ballard

MARKETING PLAN

4. Situation Analysis

The market for Curacold is strong and Pfizer can meet the expected demand for the products. This situation analysis will present a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis that demonstrates Pfizer’s capabilities along with the social, regulatory, and legal drivers to introduce the Curacold product. This situation analysis will also present in-depth information on the marketing environment in the areas of the industry, competitors, the capabilities of Pfizer, and the voice of the consumer.

4.1 SWOT Analysis

Figure 1 is a brief listing of the internal and external factors that describe the entirety of the environment that Pfizer’s Curacold will be introduced in as it is presented to the market.

Figure 1: SWOT Analysis Table

Internal Factors	Strengths	Weaknesses
Management	The world’s largest pharmaceutical company with a 150+ year success record
Offerings	Low likelihood of cannibalism in Emergen-C product	Possibility of cannibalism in Zithromax product
Marketing	Pfizer sales staff connections with doctors is strong	List of possible side-effects and warnings will reduce advertising effects
Personnel	96,500 employees in 160 countries
Finance	$52.8B company
Manufacturing	63 Manufacturing sites worldwide
R&D	Pfizer labs improving product for next version	Additional discoveries of side-effects or drug interactions
External Factors	Opportunities	Threats
Consumer	High effectiveness in healthy adults and children over the age of 12	Reduced effectiveness in elderly patients and patients with compromised immune systems
Social	Growing fear of illness in society improves demand for this type of product	Reduced willingness to seek drug cures for minor illnesses
Competitive	Follow-on OTC version will produce volume sales	Natural cures
Technological	Curacold is a major change in direction for cold remedies
Economic	Workforce unwilling/unable to lose work time for minor illness	Initial cost may delay insurance approval
Legal	Curacold is prescription-only	Can delay treatment for more serious illnesses, such as influenza, bronchitis, or pneumonia
Regulatory	Working with FDA to approve OTC version and Prescription-only version for children under 12	FDA-required restrictions to consumers over age of 12 only

4.2 Industry Analysis

Curacold will be trended to be used more often due to the epidemics that are rising for the common cold per the CDC. Curacold is committed in improving its patent, making them un replicated to our competitors. Our industry is focused on Sustainable Development Goals and focusing on the one goal of good health and well-being. “Many more efforts are needed to fully eradicate a wide range of diseases and address many different persistent and emerging health issues. By focusing on providing more efficient funding of health systems, improved sanitation and hygiene, increased access to physicians and more tips on ways to reduce ambient pollution, significant progress can be made in helping to save the lives of millions” (United Nations, 2018). This is one of our known goals.

Our industry is focused around our recurrent common cold sufferer patients. Focusing on finding a cure or even relief to these common cold symptoms is something our industry is focusing on and trying to obtain this at low costs for our patients. Many pharmaceutical companies will attempt to replicate our patents to go after more patients who are willing to pay less or insurances to cover more of the expenses, but this is to be determined. Working together with insurance is one of our goals as well. We strive to get insurances to help approve some of these needed medications worldwide.

4.3 Competitor Analysis

In 2015 Americans spent $328 billion on prescription cold medicines purchased in pharmacies, according to estimates from the Department of Health and Human Services. Over $300 per household according to the Consumer Healthcare Products Association in 2015. (Ell, 2017). Fifty-one percent of the cold medicine market is prescription with only 3% of the prescription medication having an over the counter (OTC) equivalent.

Adults will come down with 2-4 colds a year whereas children will have 10+ per year. Children get most of the colds yet most of the cold and cough medicine on the market today contain opioids such as Codeine, Hydrocodone, and Dextromethorphan and over of half these are prescription medications. Due to the opioid epidemic in the US the Food and Drug Administration, as of January 2018, has required changes to safety labeling on medications containing opioids to limit the use to adults 18 and older (US FDA, 2018). Curacold does not contain opioids in any amount and this is a distinct advantage when marketing to parents of children under 18.

4.4 Company Analysis

Cousins Charles Pfizer and Charles Erhart were the founders of Charles Pfizer and Company that started in a red brick building in Brooklyn, NY in 1849. The company started as a fine chemicals business which also served as the office, laboratory, factory, and warehouse space. Over the years the company expanded to new locations and in 1906, when Charles Pfizer passed away, the company was worth over $3 million. In 2013 Pfizer separated commercial operations into three business segments that includes two innovative business lines and one value business line which included developed and emerging markets. Over recent years Pfizer acquired major companies such as Baxter and Hospira which will continue to add a growing revenue stream and more platform for growth for the company (Our Journey, 2018).

For the first three quarters of 2018 Pfizer earned profits of $39.7 billion. Pfizer continues to set the standards for safety, quality, and development of health care products. Collaborations with health care providers and local communities is Pfizer’s ongoing commitment to remain one of the world’s premier innovative pharmaceutical companies.

The Product Pipeline at Pfizer contains different regulatory destination phases for the discovery of new products. This pipeline includes Phases 1-3 and then the final registration of the products after all initial testing, research, and licensing have been approved (Pfizer Pipeline, 2018). Pfizer currently has almost 100,000 employees that range in specialties such as world-class scientist’s and leaders in all fields of healthcare and manufacturing (Statista, 2018). Pfizer’s commitment to continuing to provide the best quality of care and products for their customers will allow Curacold to become one of the new best-selling prescription cold medications on the market!

4.5 Customer Analysis

The initial target market for the prescription-only version of Curacold is people over the age of 12 who have normal immune systems and do not have serious liver, kidney, or heart problems. This demographic will encompass most working adults as well as middle- and high-school age children. Paid sick leave benefits are not universal, with only 72% of workers receiving those benefits (Zhai, Santibanez, Kahn, Black, & de Perio, 2018) which results in many people choosing to go to work sick rather than staying home to recover. This cultural phenomenon is known as presenteeism, which is not only presents a problem for the sick employee, but it also contributes to the spread of disease and loss of productivity for the employer (Kim & Mountain, 2018). The combination of presenteeism and the fear of germs in contemporary American society creates a customer base that is eager to purchase a cold cure that is more than a symptom reliever.

Although the common cold can be attributed to several hundred viruses, the most common are rhinoviruses and enteroviruses (Eby, 2010) which are the two that Curacold has been shown in clinical trials to defeat in 12-18 hours. Although the common cold is mild in itself, the public associated it with complications such as bronchitis, sinus infections, and pneumonia so there is a demand to stop the common cold as soon as symptoms appear. Various cold remedies that are available do not promise that they will end the cold, typically only claiming to reduce the duration of the illness. Many are only symptom relievers. Yet, the public buys them and takes them at the first sign of a cold in the hope that they can avoid the illness. Curacold is the first cure that is commercially available with a prescription, so it is expected that the public will create a high demand for the pharmaceutical which will increase dramatically when the OTC version is released.

References

Eby, G. (2010). Zinc lozenges as cure for the common cold – A review and hypothesis. Medical Hypotheses, 74(3), 482-492. doi:https://doi.org/10.1016/j.mehy.2009.10.017

Ell, K. (2017, Oct. 17). 7 ways to meet the costs of cold and flu season. Retrieved from USA Today: 7 ways to meet the costs of cold and flu season

Kim, N., & Mountain, T. (2018). Do we consider paid sick leave when deciding to get vaccinated? Social Science & Medicine, 198(Feb.), 1-6. doi:https://doi.org/10.1016/j.socscimed.2017.12.011

Our Journey. (2018). Retrieved from Pfizer: https://www.pfizer.com/people/history

Pfizer Pipeline. (2018). Pfizer. Retrieved from https://www.pfizer.com/sites/default/files/product-pipeline/Pipeline_Update_30OCT2018.pdf

Statista. (2018). Pfizer's Number of Employees 2006-2017. Retrieved from Statista: The Statistics Portal: https://www.statista.com/statistics/281387/number-of-employees-at-pfizer-since-2006/

United Nations. (2018). Sustainable Development Goals. Retrieved from Good Health and Well-Being: https://www.un.org/sustainabledevelopment/health/

US FDA. (2018, Jan. 11). FDA Drug Safety Communication: FDA requires labeling changes for prescription opioid cough and cold medicines to limit their use to adults 18 years and older. Retrieved from U.S. Food & Drug Administration: https://www.fda.gov/Drugs/DrugSafety/ucm590435.htm

Zhai, Y., Santibanez, T., Kahn, K., Black, C., & de Perio, M. (2018). Paid sick leave benefits, influenza vaccination, and taking sick days due to influenza-like illness among U.S. workers. Vaccine, 36(48), 7316-7323. Retrieved from http://liberty.summon.serialssolutions.com/#!/search?bookMark=ePnHCXMwXV3dS8QwDC9ygnr-EQF9vM7ruu7jWe7wUdAD30o_YXcDhc2B_vUm63air6UN_UiTJv0luWErtFsDOwfLPByz0Tj6JSYgVZ0Rlko2F2gH1ZXkqF7r1eQGKXghtm9XZ3gG8sY1G59N6wHne4IumDGARQkQ26HfQJuKeHwbSOSnhWwA7W8YpkJOaZg3X