Scenario: Your team has been chosen by the CEO to lead the development of key ma

Question

Scenario: Your team has been chosen by the CEO to lead the development of key marketing strategies for the marketing plan for your company's launch of a new and unique product/service (not already offered). Your marketing team's mission is to prove to the board of directors and investors through research, strategy development, and reasoning, that this product/service is viable and will meet the company's goals. In this first half of the project, you will be reporting to the board and CEO about the target, the product's strengths, a SWOTT (Strengths, Weaknesses, Opportunities, Threats and Trends) analysis, and the brand's position in the competitive environment.

Create a company name and decide what real business world industry it operates in.

Create a new and unique (not already offered) product or service the company will be launching.

Explain your new and unique product/service and include packaging, labeling, and warranty if applicable. How will this add value and differentiate the brand and product from the competition, while encouraging the target market to buy?

Analyze how your company will implement the New-Product Development Process (seven stages) to bring your product/service from concept to commercialization.

Explanation / Answer

We are working for a company “X” which majorly a Biopharmaceutical company. Its business operates majorly in the synthetic drugs to cure the people suffering with Blood pressure and other diseases.

Being part of a marketing team, we as a team have done some thorough research and analysis to understand the ever expanding and potential market of Biosimilars drugs which is in great demand across the globe. Some of the Biosimilar drugs such as anticancer and ant diabetic drugs are being used by the patients worldwide.

To make a formal presentation and proposal to convince the board of directors and CEO, our team has drafted the below formal proposal-

Proposal- To start the research and manufacturing of Biosimilar markets

Market and business prospects- At present, leading Biotech companies are earning the profits in billions and some of the developing companies are already targeting the Million dollars of sale annually. Some of the leading companies in the business are the likes of Pfizer and Roche Inc.

Potential market- Potential market for such type of drugs are China, India and African countries which also accounts for world’s half of the population or even more.

To understand the business and our company’s capability, let’s have a look at the SWOT analysis-

Strength- Having some of the best talents in the field in our organization is already a big plus. These scientists can not only speed up the research process but also would ensure the regulatory clearance of these drugs in shortest possible time. These drugs are in huge demand worldwide hence potential market for these drugs would be sustained in coming time. Offering an innovation and early entry in the market would also ensure that patent rights would remain with company for sometime thereby denying the entry of other potential competitors.

Weakness- As such there is no weakness in this product segment and market demands seems to be steady and rising every year but non compliance of regulatory needs or failure at clinical stage would dampen the prospects of early entry into the market.

Opportunities- We can tap the untapped market with series of products and that would be a great opportunity for us to create a positive impact and brand in the unexplored markets. Eventually this will lead to the massive business gains in the coming time.

Threats- Considering the Biosimilar market is ever expanding; threats from other potential competitors will always loom large. Hence we can’t be complacent and would have to pursue our business and research at aggressive scale.

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