Marketing Strategy Panadol

Did you know? ? Some people feel more pain than others. The reason is probably perception. The brain works by association. ? Ibuprofen is analgesic and anti-inflammatory but Paracetamol is just analgesic. ? The ‘dol’ in Panadol is derived from the Latin word ‘dolor’, meaning pain 3 Content ? Objectives ? Panadol Background ? Target Market ? Current Marketing Strategies ? 4 P’s ? Analysis ? Options ? Conclusions ? Next Step 4 Objectives ? Analyse the current marketing strategies of Panadol ? Recommend new strategies for Panadol 5 6 Panadol’s History 1956 Launched Australian market as a prescription edicine 1970 1980 Panadol is marketed for Panadol is first time in the introduced to consumers just Supermarkets. in Pharmacies 1998 2007 New packaging Panadol rapid was introduced was launched 7 Panadol ? It is the most widely available pain reliever in the world, and leader in many. ? It competes in the analgesic market, with generics products and r egistered brands. ? All Australian Panadol products are manufactured in Sydney. 8 9 Target Market ? Panadol has segmented the market into adults and children? s presentations. ? Panadol Children’s: Parents ? Panadol Tab/ Caps : Australians 18+. Panadol Rapid : Younger female. 10 11 Panadol ? It is the most trusted brand of pain reliever in Australia. ? Panadol is a paracetamol, analgesic , effective temporary relief of any kind of pain. = ? It has led the innovation in pain relief, introducing different forms and presentations: tablets, caplets, capsules, suppositories, among others. ? Also Panadol has included line extensions in different markets: Cold & Flu, Osteo and Children’s market. 12 Packaging ? 2 blister package ? Safety seal system ? Friendly design and homogeneous. ? Relevant information for the patient. Introduced the last market leading innovation in design. Panadol Rapid 13 Price Product Price in Price per Price in Pharmacies tablet S/markets Price per ta blet Panadol Tablets 24 2,99 0,12 2,99 0,12 Herron Capsules 24 2,99 0,12 2,56 0,11 Herron Bottle Tab 60 4,69 0,08 Panadol Tablets 50 5,69 0,11 Panadol Tablets 100 8,99 0,09 ? Psychological Pricing tactic. ? Cheaper prices per larger quantities. 14 Distribution 2007 69% 22% 7% 1% 2006 69% 22% 7% 1% 0% 20% 40% Pharmacies / drugstores Convenience Stores 60% 80% 100% Supermarkets / hypermarkets Independent Retailers ? Intensive Distribution Pharmacies are the main distribution channel 15 Position on shelf P. Rapid Panadol Children Panadol Line 1 Panadol Panadol Back & Pain Line 2 Panadol Line 3 Nurofen Line 4 Nurofen Line 5 Paracetamol Coles Ibuprofen Coles Herron other products Advil Line 6 Line 7 Line 8 Line 9 ? Panadol has 43% of the Analgesic shelf. It is located in lines 1,2 and 3. 16 Advertising ? Glaxo is No. 1 in the top 10 of advertiser’s pharmaceuticals companies in Australia ? Glaxo invested $25. 8 million during 2008, with 15 million supporting Panadol, across all me dia. ? Glaxo uses all means of communication to marketPanadol, emphasising the key factors of speed and effectiveness, including its suitability for all ages 17 TV ? Panadol’s target market covers a big portion of the Population, with TV being ideal to reach a wide geographic coverage. ? Panadol has been on TV all year, it is the biggest portion in its budget. ? Panadol commercials try to make an emotional link with the consumer and uses positives reinforcement. 18 Magazines ? This year Panadol has advertised in publications such as Cosmopolitan and NW, the 2 lifestyle magazines most read in Australia. ? Magazines are good strategy for targets that share the ame interest. ? They are also a good alternative for reaching specialized targets such as physicians and pediatricians. 19 Outdoor ? Panadol is using effectively this media, reaching a large percentage of the population with a low cost per exposure ratio. ? Panadol is using this media in different forms such as Buses, Met rolites and Buses stops. 20 Internet ? The Panadol brand does not have a website on the Internet. ? In these sites there isn’t any information related to the other ranges of Panadol, or links to other Panadol sites. 21 22 Analysis †¢Panadol is in the top 10 of the Australian most trusted brands in 2009 It has a long-standing reputation of quality and realibity. †¢Panadol was ranked N. 1 in analgesic market during 2007, but was ranked N. 2 in 2008, proceeded by Neurofen, which is growing faster Analgesic Market Sales Var 0% Var 5% Sales +(000. 000) 60 40 20 Glaxo S. Reckitt B. 2006 2007 Which are the others 23 Analysis ? Panadol has implemented good marketing strategies, achievieng good Top of Mind and maintining sales level. ? It should implement Alternatives and original strategies, in order to recover its leadership. 24 25 First Aid Kit †¢It is indispensable at home †¢Increase brand presence Strategic Alliance with other products or companies †¢Any kind of promotional material. E. g. Frigde frames 26 Internet †¢It is the media, which is going to experience the most growth (10,4%) in coming years †¢It is the second most important media in Australian population. Time spent with media Average Hours per week 60 50 3 2 3 11 12 14 17 13 12 18 20 21 18-24 25-34 35-49 40 30 20 10 0 TV Internet Radio Newspapers Magazines 27 It is my choice! †¢Implement a friendly and effective website †¢Most important to interact with the customers. †¢Special contest â€Å"What have been the best choice in their lives? †. 28Environmentally friendly †¢People more concerned about the enviroment and problems in the future †¢Panadol can contribute with 2 main things: †¢Including a recycable logo in the package †¢Eliminating the plastic protection cover 29 Two more options ? Multi-branding strategy Take advantage of the high brand investment Create an identity for Panadol Brand such as: â€Å" Trusfully P anadol or Gentle with your stomach† ? Raising consumer awarness throughout pharmacies Main distribution channel (69% of sales) Implement a strong promotional campaign Train pharmacists 30 Conclusions ? Panadol is an excellent brand, that still maintain a ood top of mind in the Australian consumers. ? The implemented strategies are being effective, however is losing market share ? It is recommendable to implement alternatives strategies, as the ones suggested in this presentation. 31 Next Step.. ? Check which of the 5 strategies are chosen to be implemented. (Next meeting, 30/09/09) ? Check with financial department the cost of this strategies. ? Check the promotional budget for 2010, and include this value. 32 â€Å"Innovation distinguishes between a leader and a follower. † Steve Jobs quotes (American Entrepreneur Apple co-Founder, b. 1955) 33