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Letter of transmittal

Respected Sir, It is great a pleasure for us to submit a report on Square Pharmaceuticals Omeprazole Injection with brand name Seclo 40 mg We have prepared this report, as part of the course Marketing Management (MKT 301) To make this marketing plan up to the standard we tried our best to fulfill the requirements by implementing the knowledge we have gather from the course. Thank you very much for providing us this type of opportunity and giving us the necessary guidance and direction needed for preparing the marketing plan. We express our heart full gratitude to you to go through this report and make your valuable comments. Your Students

Letter of acknowledgment

First of all we would like to thank the almighty because of successful completion of this work. We would like to thank our honorable Teacher Associate Professor. Shamsad Ahmed for providing us with the opportunity to work on this marketing plan and gain a real life experience. We also thank Assistant Marketing Manager. Ahmed Qamrul Alam in Square Pharmaceuticals for giving his valuable time & cooperation & support in preparing this marketing Plan We also thank all our teachers & friend who inspired us & helped us to build confidence and put us in a deep concentration to carry on our course work and supported us at the end with great excellence. We lastly would like to express my appreciation to our University of Asia Pacific and we are eventually grateful to the University and its excellence that works for education encourages us and creates knowledge, as knowledge is power.

Executive Summary: This is a report on a marketing plan for Omeprazole Injection, it describes how Omeprazole Injection can be marketed, and established, increased it shares value against Omeprazole Capsule and other direct or indirect competitive products. It describes the ways, strategies & tactics to make this product well accepted in the market. It discusses about its market situation, competitors position, targeted consumers, organizations objectives, this report also includes actions plans to implement to reach it is desired objectives, financial aspects & how can the organization control & evaluate all the related factors in this marketing plan.

Company Overview: QUARE today symbolizes a name a state of mind. But its journey to the growth and prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship company, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and is now on its way to becoming a high performance global player. SQUARE Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the 1st position among all national and multinational companies since 1985. It was established in 1958 and converted into a public limited company in 1991. The sales turnover of SPL was more than Taka 11.46 Billion (US$ 163.71 million) with about 16.43% market share (April 2009 March 2010) having a growth rate of about 16.72%.

LOOKING BEYOND THE HORIZON SQUARE Pharmaceuticals Limited has extended her range of services towards the highway of global market. She pioneered exports of medicines from Bangladesh in 1987 and has been exporting antibiotics and other pharmaceutical products. This extension in business and services has manifested the credibility of Square Pharmaceuticals Limited. They in SQUARE strive, above all, for top quality health care products at the least cost reaching the lowest rungs of the economic class of people in the country. They value the social obligations. They owe to the shareholders and strive for protection of their capital as well as ensure highest return and growth of their assets. They strive for best compensation to all the employees who constitute the back-bone of the management and operational strength of the Company through a pay-package composing salary/wages, allowances, bonus, profit participation, leave salary and superannuation & retirement benefits.

They strive for best co-operation of the creditors & debtors the banks & financial institutions that provide financial support when we need them, the suppliers of

raw materials & suppliers who offer them at the best prices, the providers of utilities-power, gas & water etc. and the customers who buy our products & services by redeeming their claim in time by making prompt payment and by distributing proper product on due dates. They strive for fulfillment of our responsibility to the Government through payment of entire range of due taxes, duties, and claim to various public agencies. They strive, as responsibilities citizen, for a social order devoid of malpractices, anti-environmental behaviors, unethical and corruptive dealings. They strive for practicing good governance in every sphere of activities covering inter alia not being limited to, disclosure & reporting to shareholders holding AGM in time, distribution of dividends and other benefits to shareholders, reporting/dissemination of price sensitive information, acquisition of share by insiders, recruitment & promotion of staff, procurement & supplies, sale of assets etc. all that

directly and indirectly affect the interest of concerned groups the shareholders, the creditors, suppliers, employees, government and the public in general

Product Overview: COMPOSITION: Seclo 40 IV Injection: Each vial contains Omeprazole 40 mg (as lyophilized powder of Omeprazole sodium BP) and each ampoule contains water for injection BP 10 ml. PHARMACOLOGY: Omeprazole, a substituted benzimidazole, is an inhibitor of gastric acid secretion. Omeprazole inhibits secretion of gastric acid by blocking the hydrogen-potassium-adenosine Triphosphatase enzyme system, the so called 'Proton pump' of the gastric parietal cell.

It is An effective treatment for gastric and duodenal ulcers and particularly for erosive reflux Esophagitis. Orally administered Omeprazole is absorbed rapidly but to a variable extent. Following absorption Omeprazole is

almost completely metabolized and rapidly eliminated mostly in the urine. Although the elimination half-life from plasma is short, being reported to be 0.5 to 1.5 hours, its duration of action with regard to inhibition of acid secretion is much longer and it is suggested that its distribution to the tissues particularly to the gastric parietal Cells accounts for this action. Omeprazole is highly bound (about 95%) to plasma proteins. INDICATION: Seclo capsule and tablet is indicated for gastro esophageal reflux disease including reflux Esophagitis, acid reflux disease,

duodenal and benign gastric ulcers, and Helicobacter pylori Eradication regimens in peptic ulcer disease, prophylaxis of acid aspiration, Zollinger-Ellison Syndrome (ZES) and for the treatment of NSAID-associated gastric ulcers, duodenal ulcers or gastro duodenal erosions. Seclo IV is indicated primarily for the treatment of ZollingerEllison syndrome, and may also be used for the treatment of gastric ulcer, duodenal ulcer and reflux esophagitis.

Current Market Overview: In Bangladesh Pharmaceutical Market, Antiulcer is one of the fastest growing portfolios. It is because of our unhealthy food habits, lifestyles, activities & overall situation says that the majority of our population suffers from Hyperacidities. Thats why this market is expanding day by day with the time passes & there are huge potential factors to introduce a new Antiulcer product in the market. And because of its potential market we become interested & planned to work in it. Thats the main background for choosing omeplizor injection preparation.

Competition: Competitors are divided into two parts. The Companies which are offering the Omeprazole Injection preparation with exactly same molecules are considered direct competitors. And the companies which are offering the preparation with not exactly same molecules but somewhat similar molecules which works for same The major Competitors: Incepta, ACI, Popular

Keys to Success:

The keys to success are: 1. Holding the position of market leader in the Pharmaceutical Industry 2. Already Enjoying Excellent market reputation. 3. Superior quality products.

Critical Issues

The most challenging job in marketing Omeprazole Injection will be establishing our brand of Omeprazole Injection in a market where many other Omeprazole Injections already established & accepted by all. People used to stick with a product that works well for them. And they used to show resistance in adapting a new preparation of Omeprazole Injection. We need to show & convince that our preparation is more safe & effective to encounter competitors Omeprazole Injection.

SWOT Analysis:

Strength:

It has Company Strength & product strength, Company strengths effects positively on the product, & products strength also effects positively on the Company.

Square has highly skilled sales forces & very efficient & wide distribution channels.

Square ranked & held the First position in Pharmaceuticals Industry since 1985, which means it is in the top for last 28 years,

Being in the top for this long time resulted in a very positive impression for all our products in the minds of the doctors & patients already, it occupies a good position it their minds.

The built in positive impression on our products which is in the minds of the doctors & patients helps us to get a very good response from the market for any product we introduce in the market.

We can say very confidently that the number of sales force of the company, their capability, Training & selling skills are in better condition & position then any other company in the industry. Square follows very transparent marketing activities; there is no misleading or fraud, thats why it enjoys a good reputation in the market. Square maintains high quality standards for its products, that why it enjoys a good position in the market In production of Squares Omeprazole Injection & DMP quality issues are followed & maintained properly.

The desired AC TC level are ensured 100%

Weakness:

Square has introduced the Omeprazole Injection late in the market

Omeprazole Injection has introduced already by Incepta & popular before Square

Square has lost the opportunity to be the be the first introducer & cant enjoy the benefits of it.

Square needs to consider the loss of late introduction & work on market considering this disadvantage.

Opportunity:

In the market, the number of Antiulcer patients is increasing, when the number of patients increases the possibility of a good return from the required drug increases.

On that perspective we are seeing a good opportunity for our Omeprazole Injection since the market is growing.

Threat:

Some other companies are planning or in process to introduce Omeprazole Injection in the market. When they will introduce, they will through a competition in the market as well. Square needs to consider the competition in planning of their marketing strategies to respond to this threat & fight back.

Marketing Strategy:

Mission: To launch the most safe & effective Omeprazole Injection in the market & provide assistance to the gastroenterologists & Surgeons in treating people in an efficient way.

Marketing Objectives:

Qualitative: We have to establish in the Omeprazole Injection market that Squares Omeprazole Injection preparation is the best in terms of quality & effectiveness among all competitors

Quantitative: To grab 30% of market share within first year of product launch.

Target Market (Segmentation):

85% of target market will be Hospitals & clinics doctors Remaining 15 % will consist of other doctors which will be gastroenterologists, Surgeons, General practices.

Positioning: Ideal Omeprazole Injection in the medical Association

Strategies: The marketing strategy will seek to first create awareness regarding our Omeprazole Injection, develop the customer base, and work toward building doctors loyalty and preference. Extensive Champaign & direct marketing will be used to communicate the message. Initial samples & gifts will be provided depending on the target segment that we are trying to reach.

Product Strategy:

Square Pharmaceuticals prepares Omeprazole Injection from the highest quality raw materials available in the

market. It ensures strict compliance with WHO cGMP standards and local regulatory norms in every phase of sourcing & procuring quality materials, manufacturing, quality assurance and delivery of Omeprazole Injection. It also ensures that all activities passes through documented Quality Management System (QMS) complying International Standard requirements of ISO 9001 through continuously developing Human Resources by regular training and participation. Square Pharma is committed to undertake appropriate review, evaluation and performance measurement of processes, business activities and Quality Management System for continual improvement to ensure highest standard and customer satisfaction.

Pricing Strategy:

Since we know that we are introducing Omeprazole Injection late in the market, already some other companies introduced it before we do, thats why there is no chance of innovation in setting the price, the price

structure would be the competitors following price. We have to consider the competitors pricing who launched their products in the market already & set our price similar to theirs, we do not have the scope to increase or decrease the price, the logic behind it is that, since Omeprazole Injection is relatively expensive, and the competitors have established a price in the market already, so if we set the price according to their first introducing price than no controversy exists. And we are not in the ideal scenario for setting the price as some other companies have already fixed the price & the doctors accepted that price. So our price must be like theirs. This price structure is the best for this kind of scenario.

Placing Strategy (Distribution): Squares own distribution channel & system will be utilized but focusing more on Hospitals & Clinics. Square has a very wide network of distribution system. It ensures to supply the right product in the right place in the right time. Distribution starts from the factory where is it is prepared, then it goes to DPG for calculating & clearing government taxes. From DPG the products are distributed to all the Depots in the country. Finally the products are distributed to the final destination which mainly consists of Hospitals & clinics. Square Pharma is equipped with high quality logistical & human support to maintain highest level of efficiency in distribution among all the companies in the industry.

Promotion Strategy:

The main promotion activities will be carried out by the medical representatives & they will be covering Hospitals & Clinics, as because a new product will be launched in the market, the management can think of a launching program or an introductory program. All leading gastroenterologists, Surgeons, General practice doctors who are practicing in Hospitals, clinics in Dhaka will be invited in that campaign to make the product familiar to them. In this way the message of our product can be spread among the doctors. Since, it is not practical or difficult to go for nationwide campaign for a single product at once, so we will focus on the doctors based in Dhaka first but we will be ready to use mechanisms procedures to ensure that the message spreads to other doctors through their colleagues to all over Bangladesh. All doctors will be provided with initial samples & other promotional items.

Marketing Research

During the initial phases of the marketing plan completion, several medical representatives will be held to gaining sight into the targeted customer's mind and the processes

of their decision making. They will provide the department with a wealth of information.

Action Plans:

1st Month All leading gastroenterologists, Surgeons, General doctors will be invited in the launching programs in different important locations in Dhaka, to make them familiar with Seclo 40 mg. Initial samples & attractive gifts will be given to all participates.

2nd Month All Hospital based doctors will be invited in introductory programs & they will be given initial samples as well. Gifts will be distributed among the participating doctors, where our Seclo 40 mg will be highlighted on.

3rd month All intern doctors will be invited in a separate program & will be given initial samples & attractive gifts as well.

Intern doctors play a vital role in selection of the type or brand of the medicines for the patients.

4th Month Another program will be arranged for all nurses & sisters working in different hospitals & clinics, it is very important to make this product familiar to them as well, because they are practically involved more than others in giving treatment to the patients

For the remaining 8 months, we will implement the previous 4 months actions in alternate ways so that each category (Senior Doctors, Intern doctors, Nurses & sisters) are dealt with in campaigns trice during the first year of introducing the Seclo 40 mg brand of Omeprazole Injection.

Budget:

Sales Forecast:

Month

Number of units (Per unit = TK 70)

Sales

January February March April May June July August September October November December Total

3000 units 3500 3000 4000 5000 4500 5500 5000 6000 7500 8000 8500 63,500 units

2,10,000 TK 2,45,000 2,10,000 2,80,000 3,50,000 3,15,000 3,85,000 3,50,000 4,20,000 5,25,000 5,60,000 5,95,000 44,45,000 TK

Promotional Expenses Forecast:

Month January February March April May June July August September October November December Total

PPM 57250 TK 15000 15000 15000 15000 15000 15000 15000 15000 15000 15000 15000 222250 TK

No. of Samples 315 boxes 260 260 260 260 260 260 260 260 260 260 260 3175 boxes (222250 TK)

Gifts in TK 23800 TK 14000 14000 14000 14000 14000 14000 14000 14000 14000 14000 14000 177800 TK

Expected Revenue:

Revenue (Tk.) Less: COG (15%) Gross margin (Tk.) Less: Marketing expenses: Physician's sample (5%) PPM Cost (5%) Gift (4%) Fixed admin.cost & sell & dist. Incl discount (7%) Total expense Net profit before tax (Tk.) Total expense of net revenue (%)

44,45,000 6,66,750 37,78,250 2,22,250 2,22,250 1,77,800 3,11.150 9,33,450 38,44,800 21%

Controls & Evaluation:

The purpose of the marketing plan is to serve as a guide to the organization. The following areas will be monitored to measure performance:

1. Revenue: monthly and annual. 2. Expenses: monthly and annual.


3. 4. 5.

Number of Repeated orders. Customer satisfaction level. Changes in the market share

Square Pharmaceuticals evaluate & control the actions through a continuous process. Supervisors check the actions implemented & measure their effectiveness comparing with standards set by the organization. Medical representatives who work in the market field collect the feedback, responses, suggestions, opinions from the doctors, nurses, patients & other experts of the market and provide the collected information to the head office. The head office passes the information to the related respective departments. Control & evaluation committee analyzes the data & take correction measures & make recommendations to the related departments about the new actions to be implemented considering the responses & changes in the market.

Bibliography/ Reference:

1. Ahmed Qamrul Alam, Assistant Marketing Manager Square Pharmaceuticals Ltd

2. Mr. Jahangir Medical Representative, Square Pharmaceuticals Ltd

3. Internet http://www.squarepharma.com.bd