Welcome to the world of case studies that can bring you high grades! There were other products, but they were not as popular in the market segment Metabolic was targeting. Unless the price is lowered, this option seems unrealistic. Based on the various analyses conducted, I will recommend Option 2 to the Cambridge Science Pharmaceuticals organization. Target Market CSP’s primary target market after extensive market research is customers with the following characteristics: Through market study, we may find all the information we need to decide whether to take action on a particular product or subject. At this pricing, it makes Metabolic a premium quality product In line with product effectiveness.
Product will be packaged in a blister-style package as a week treatment plan. At this pricing, it makes Metabolic a premium quality product In line with product effectiveness. Implementation Plan The following details the implementation strategy: Women who are ages have money to purchase weight loss products and will spend money for a prescription. It was the first of its kind and had that advantage. Promote through print media brochures, pamphlets , television, radio and online advertising.
Read full essay Save. Our chosen price is suitable because of the demographic target market. If we lowered the price, it will affect the brand image of our exclusive product in the target market.
Overview & Proposed Solution Cambridge Science Pharmaceuticals | Case Study Template
Lessons Learned Information from market research has shown to be vital. Market research can estimate ten Kelly sales AT a new perseverance Ana also ten advertising expenditure required to achieve maximum profits. It was a unique product, which was focused towards a particular segment of the market, the overweight segment.
In this report, we will conduct an analysis to determine which of the 3 proposed pricing models will promotes high sales and be profitable to the company at the same time. Welcome to the world of case studies that can bring you high grades! Customers of OTC weight loss drugs have stirred to other choices such as diet and exercise plans due to safety concerns concerning OTC weight loss drugs.
Hence, forecasting a new product based on older product success might not be a reliable Indicator to decide on a product launch strategy. Also, the 2nd pricing structure was chosen because this demographic may look into other methods or products to lose weight. Lady Abigail Rogers Case Brief 1: Do not require strict FDA approval. Pricing the product low will lower consumer financial risk, which gives the product a better opportunity to sell in maximum volume.
Various diets and exercise plans and other weight loss drugs ranging from over-the-counter and prescription. Based on the various analyses conducted, I will recommend Option 2 to the Cambridge Science Pharmaceuticals organization.
Customers will have to pay for the full price of Metabical not covered by insurance. This option creates an ROI of 5.
Under this option, we have a target market that are educated and are willing to spend money on prescribed weight loss drug.
The lowest pricing was selected because this stydy market has the possibility that it may look into other methods to lose weight such as Jenny Craig.
Cambridge Sciences Pharmaceuticals’ CSP must make reasonable logic to assess the demand and pricing for Metabical within the first five years. With the lower pricing structure, it lowers the financial risk to customers.
One being, that it aligns with Cups corporate strategy while the third option shows pricing to be too high as market research indicated.
This population is very broad and general and therefore may contain customers who are price sensitive. This alternative choses the lowest pricing option because of the population chosen. At this pricing, it makes Metabolic a premium quality product In line with product effectiveness. There were other products, but they were not as popular in the market segment Metabolic was targeting. The following strategy will apply:. The following strategy will apply: How about receiving a customized one?
Such information can also help to benchmark and monitor product progress, which can be useful to make decisions and take action. A new product entering the segment for the first time is influenced by current market state, existing competition, and varied market dynamics.
Challenging to determine complications. No prescription drugs are available for this market segment.