This study makes an assessment of case study of Cambridge Sciences Pharmaceuticals (CSP) in terms of the marketing communication strategy required for a successful launch of Metabolic. Opportunities and weaknesses are explored and analyzed so as to make appropriate recommendations. Proper marketing strategy is then developed with the main focus being on efficient coordination of expectations of the customers and objectives of the company. The main cause of problems in launch of a new product is lack of efficient information flow from CSP to potential customers or buyers of Meatbical and from customers to the company.
Decision Making Process
Success of companies in marketplace of toady depends on the marketing communication employed. Fundamental skills such as consumer and digital engagement approaches must be incorporated in strategic marketing communication. A range of segments is presented by the market eachwith its own profitability.
In targeting, the worthiness of each segment should assessed and a decision made regarding the design of the strategy that best suites segments that the company intends to concentrates its efforts to. Metabical’s decision making process should involve all the participants from health care providers to end user of the drug. The company should use mass marketing to reach the end customers since this provides an efficient means for wider market coverage. On the other hand, health care providers should be reached using segmented marketing. This is because these groups of potential customers are highly focused and demand value creation in products leading to customer satisfaction(Kotler 56).
It is necessary to consider division of the total market into smaller groupings that are homogenous and that portray similar characteristics of preferences, tastes and needs. The company should then concentrate on just a few market segments so as to have full knowledge of the expectations of the customers and to avoid costs(Kotler and Armstrong, 70). This particular business is bound to segment its market through increased sales, premium pricing and improved penetration. Even though the target market comprises of women, the company should consider should consider to niche marketing through identification of unique needs, permission marketing and behavioral segmentation. Women, being relatively price inelastic usually do not mind paying whatever price that is set. The drop rate is minimized when women buy the drug and find it to be effective.
Identifying and employing Differential Advantages Cambridge Sciences Pharmaceuticals (CSP) should carry out a research on in the market on demand’s price elasticity, level of monopoly and the goodwill of the consumers in order to establish Metabical in the market. The demand is inelastic since target consumers, being women, are price insensitive. Additionally, CSP’s Metabical is the only drug in the market that offers a solution to the problem of overweight. Thus the company has monopoly of the market. The company therefore has the freedom to set price: CSP can maintain the uniqueness of Metabical by setting its price relatively high and this will not necessarily affect the demand of the product. Additionally, the company should exploit the surplus of consumers who are willing to spend large sums of money on health care. However, monopoly is prone to a lot of competition. Assuming there is no change in customer preference over a period of five years; CSP should consider lowering the price of this drug as competition sets into the market…