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4. Objectives P 10
6. Action programs P 15
7. Financial projections P 16
8. Implementation controls P 17
Marketing plan 2
Company Profile:
Square Pharmaceuticals started their operation as a Partnership Firm. In 1964 they converted into
a Private Limited Company. In 1974 they conduct a technical Collaboration with Janssen
Pharmaceutical, Belgium, a subsidiary of Johnson & Johnson Intl, USA. In 1982 square
pharmaceuticals signed a licensing agreement with F. Hoffmann-La Roche Ltd., Switzerland. In
1985 they achieved market-leadership in the Pharmaceutical market of Bangladesh among all
national and multinational companies. In 1987 square become Pioneer in Pharmaceutical export
from Bangladesh. In 1991 they converted into public limited company. In 1994 they offered their
Initial Public Offering of Square Pharmaceutical shares. In 1995 Chemical Division of Square
Pharmaceuticals Ltd. starts production of pharmaceutical bulk products (API). In 1997 square
pharmaceuticals won the National Export trophy for exporting pharmaceuticals. In 1998 Agro-
chemicals & Veterinary Products division of Square Pharma starts its operation. In 2001 US
FDA/UK MCA standard new Pharmaceutical factory goes into operation built under the
supervision of Bovis Lend Lease, UK. In 2005 New State-of- the-Art Square Cephalosporin’s
Ltd. goes into operation; built under the supervision of TELSTAR S.A. of Spain as per US FDA/
UK MHRA requirements. In 2007 Square Pharmaceuticals Ltd., Dhaka Unit gets the UK MHRA
approval.
Marketing plan 3
SQUARE 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.
VISION
Square view business as a means to the material and social wellbeing of the investors, employees
and the society at large, leading to accretion of wealth through financial and moral gains as a part
of the process of the human civilization.
MISSION
Square’s Mission is to produce and provide quality & innovative healthcare relief for people,
maintain stringently ethical standard in business operation also ensuring benefit to the
shareholders, stakeholders and the society at large.
OBJECTIVE
Square’s objectives are to conduct transparent business operation based on market mechanism
within the legal & social frame work with aims to attain the mission reflected by our vision.
Corporate focus
Square’s vision, mission and our Objectives are to emphasize on the Quality of product, process
and Services leading to growth of the Company imbibed with good Governance practices.
Marketing plan 4
Organizational Structure:
Board of Director
Chairman
Vice Chairman
Managing
Director
Director
Executive Executive
Resident Executive Executive
Director Director
Adviser Director Director
Admin Operation
Marketing plan 5
Training & Employee Development in Square
Square’s Training & Development enables their people to enhance their skills, keep them
updated with recent changes. They offer both on-the-job and off-the- job at both theoretical and
practical training opportunities through a range of Local, Regional and International Training
programs that include both functional and managerial levels on the basis of Training Need
Assessment. Training Need Analysis (TNA) is conducted by Department Heads and Human
Resource Department jointly on the basis of job analysis.
Overseas Training
Square sends their employee to abroad for training program depending on availability of
appropriate topics. Technical persons of their factories attend the Factory Assessment Test
(FAT) in various parts of the world for smooth operation of equipments.
Each year, a significant number of Field Forces complete their induction training program and
joined to their respective markets and appear at examination in every month for further
development.
For updating product knowledge and selling skills of field forces, Refresher Course is organized
in four different regions in every month.
Twice in every year, mid-level managers of sales participate in the training program titled “Sales
Territory Management” at a regular basis.
Marketing plan 7
Distribution:
Every year a number of Distribution Assistants (DA), Data Entry Operators (DEO) go under
induction training program immediately after initial recruitment. Each month, Refresher course
for DA, Driver and Packers is organized in two different depots for updating their knowledge.
Other Activities:
Square conduct training on different compliance parameters for our factory colleagues.
1. Executive Summary
In Bangladesh cardiovascular diseases are increasing day by day. High cholesterol level in blood
is one of the important factors for developing cardiovascular complications.
For the treatment of high blood cholesterol, statins are the widely acceptable drugs. Presently 4
statins (Simvastatin, Atorvastatin, Fluvastatin, and Lovastatin) are available in Bangladesh.
Though there are a number of statins available worldwide, but considering the clinical profile,
Rosuvastatin is the best and it is known as the “Super Statin”. We always try to launch superior
Marketing plan 8
molecule first time. In this context, square proudly launches the Super Statin by the name
Rosuva®
If we consider the price, price of Rosuva tablet will be little bit high. Each tablet will cost Tk.
45.00. On the other hand the price of Lescol is Tk. 30 per tablet. But considering the clinical
efficacy, Rosuvastatin is superior to fluvastatin. In this case our objective is to target some
opinion moulders first for Rosuva tablet and special emphasis will be given to the doctors who
usually attend the patients belonging to high-class of the society.
Our expectation is Tk. 32, 60,352 in launching year from this product. Market size of Lipid
lowering agents is Tk.16, 39, 74,473. Our initial objective is to snatch 2% share from this
market segment. Pricing is crucial and we should have to overcome this limitation by aggressive
promotional activities. Product price is Tk. 45.00/- per tab. GM of the product is 50% with a
mark-up of 24%. Depending on successful workout on this product, we expect net profit of
596,565/- in the launching year.
Successful launching of this product will increase our pace in cardiovascular market. Definitely
we are going to do it.
Marketing plan 9
Product Presentation:
Marketing plan 10
2. Current Marketing Situation:
Square Pharmaceuticals has its independent department. It conducts the survey throughout the
country. With the help of MRPC Square can get the idea of prescription movement of Rosuva
as well as competitors brand. So Square can do their Mass marketing of Rosuva all over the
country.Respective Portfolio Executive will visit the customers to collect their feed back
regarding the product and study their satisfaction. So the current market situation of Rosuva is
increasing Day by Day. It’s doing very well in the market as a new comer. If we look at the
growth rate, sales trend, net income then we can easily understand the situation of Rosuva.
Rosuva is lised as growing product in the drug market.
Competitor’s analysis:
Marketing plan 11
TIGINOR Incepta 18,395,232 20.75
35,000,000
30,000,000
25,000,000
2001
20,000,000
2002
2003
15,000,000
2004
10,000,000
5,000,000
0
INC EPTA PHA RM A SQUAR E BEX IM C O NOVA RTIS ESKAY EF GENERA L ORION LA B . OPSONIN C HEM R ENA TA DRU G
INTERNATIONA L
Marketing plan 12
Square 6.92 16.78 47.88 18.37
Marketing plan 13
Market share (%) of top 10 manufacturers in Cholesterol & Triglyceride
market:
5.76 13.4
5.77
5.87
5.97 12.41
6.46
6.79 12.28
12.23
Marketing plan 15
SWOT Comparison Sheet (Weaknesses)
Sun Pharma (Rozavel)
Weaknesses Square (Rosuva)
• Beximco, Square
Successful competitors? • Popular, Incepta
pharmaceuticals ltd
Negative economic • Current situation of Bangladesh
• Unrest political condition
conditions?
Government regulation? • VAT on physician sample • VAT
Marketing plan 16
Vulnerabilities? • N/A • N/A
Marketing plan 17
Total= 62 - 14 29 - 45
48 16
27 0
Marketing plan 18
Total OT of Square Total OT of Sun pharma
( Rosuva) = 46 – 19 (Rozavel) =30 - 30
=27 =0
SWOT Analysis
Strength:
1. Clinical superiority over other available statins
2. USFDA approved molecule
3. First time introduction in market
4. Good product presentation
5. Good corporate image of Square
6. Skilled filed force
7. Strong distribution network
Weakness:
1. High price
2. Due to high price limited number of consumer will be able to afford the drug.
3. Inadequate concentration on cardiovascular drugs
Opportunity:
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1. Prevalence of cardiovascular disease and hyperlipidemia is increasing day by day in
Bangladesh
2. Good market growth
3. Doctors are preferring statins as lipid lowering agent.
4. If raw materials price is fallen, it will help to reduce the price of the product and will
make the doctors comfortable to prescribe frequently which will increase market size.
Threat:
1. Launching of the molecule by other companies
2. Launching of the product with reduced price by other competitors
3. Unethical practices by some competitors (offering cash money, contract, etc.)
Marketing plan 20
4. Objectives:
• Financial objective:
a. Earn an annual rate of return on investment of 23.25%, which represents a
projected market share of 2.5%.
b. Produce net profit of Tk. 5.65 lac in one year
c. Achieve first-year total sales volume of Tk. 32.6 lac, based on an average price of
Tk. 450.00 per unit box.
• Marketing objective:
a. Achieve a first-year unit sales volume of 9,600 which represents a projected
market share of 2.5%
b. Generating brand awareness within the target customer through CME, Clinical
Meeting, Seminar, Symposia.
c. Generating a good footage in the cardiovascular market.
Marketing plan 21
5. Marketing strategy:
Target customers:
• Cardiologists
• Medicine specialists
• Competitors statin prescribers
Segmentation:
Market segmentation is one of the steps that goes into defining and targeting specific markets. It
is the process of dividing a market into a distinct group of buyers that require different products
or marketing mixes.
Opportunities in marketing increase when segmented groups of clients and customers with
varying needs and wants are recognized. Markets can be segmented or targeted using a variety of
factor. The bases for segmenting consumer markets include:
But Rosuva is a lipid lowering drugs. Actually the marketing department of square doesn’t
segment only Rosuva market. It’s actually segmented its market for group of product or the same
kind of product. The marketer of Rosuva could ignore the differences in the segments, and
choose to aim a single product at all segments i.e. the whole market. This is typical in 'mass
marketing' or where differentiation is less important than cost.
Targeting
Targeting is the second stage of the SEGMENT "Target" process. After the market has been
separated into its segments, the marketer will select a segment or series of segments and 'target'
it.
Marketing plan 22
Target customers:
• Cardiologists
• Medicine specialists
Competitors statin prescribers
Positioning:
Positioning strategy:
Square has positioned rosuva as the “super statin” and aggressive cholesterol
reducer to capture a separate place in the mind of the target market.
Marketing mix strategy is the set of controllable, tactical marketing tools through
which the company influence the demand of their product and wants to get the response from the
target market. Square has five groups of variables which known as 5Ps in their marketing mix
strategy.
a.Product: is the goods and services that companies offers to the target
market.Square used forward invention for rosuva to meet the need for the treatment of
cardiovascular diseases.
b.Price: Price of each tablet of Rosuva is Tk. 45.00. This product belongs to the
high range of the lipid modifiers drug market. There are some statins available in the market in
lower price. But at present fluvastatin is available at Tk. 35 per tablet but clinically it not
superior to Rosuvastatin. This new generic is going to be introduced for the first time in
Bangladesh. This will provide a competitive edge over the available generics.
Marketing plan 23
d.promotion
Square will use the following communication tools to promote Rosuva:
1. Literature
2. Physician sample
3. Booklet on Lipid modifying drugs
4. Gift- they also gives pen, mug, notepad etc
5. Continuous Medical Education (CME) program on Rosuvastatin
Promotional pattern:
b.
Av. Per Nationa
Criteria MPO l
• Promotional intensity:
e.People: also refers to customer. Square specially targets the doctors as their
customaers who usually attend the patients from the high-class in the socity.
Marketing plan 24
Rosuva is the “super statin” and aggressive cholesterol reducer
Control Measures:
Sales Force Control:
Square feels that the sales forecast figures are conservative. It will steadily increase sales as the
advertising budgets allows. Although the target market forecast listed all of the potential customers
divided into separate groups, the sales forecast group’s customers into two categories: Recreational and
competitive, reducing the number of categories allows the reader to quickly discern information, making
the char more functional.
Sales Forecast
Sales 2008 2007 2006
Recreational $455,740 $598,877 $687,765
Competitive $72,918 $95,820 $110,042
Total Sales $528,658 $694,697 $797,807
DISTRIBUTION CONTROL:
Rosuva has good distribution control all over the country. Initially this product will be made
available to the nearby chemist shops of the target doctors, for that they divide
The distribution channel in four zones’. Those are:-
• Dhaka.
• South.
• West.
• North.
Marketing plan 25
2. Dhaka
3. Chittagong
4. Comilla
5. Rajshahi
6. Barishl
7. Khulna
8. Sylhet
9. Rangpur
10. Bogra
11. Mymensingh
12. Faridpur
13. Tangail
14. Maizdee
Pricing Control:
Rosuva has a good price control among the market. Though price of each tablet of Rosuva is
quiet high. The price of each tablet is Tk. 45.00. There are some statins available in the market at
lower price; Such as Lesocol. The price of Lescol is Tk.30 per tablet, but considering the clinical
efficiency, Rosuvastain is superior to fluvastain. Actually our objective is to target some opinion
moulders first for Rosuva tablet and special emphasis will be given to the doctors who usually
attend the patients belonging to high-class of the society. High price is the main problem for
Rosuva, but it is going to be introduced new generic for the first time in Bangladesh. This will
provide a competitive edge over the available generics, by doing this we can overcome the
disadvantage of high price.
Marketing Research:
Square Pharmaceuticals has its own Market Research & Planning Cell (MRPC). It is an
independent department. It conducts the survey throughout the country. With the help of MRPC
we can get the idea of prescription movement of Rosuva as well as competitors brand.
Respective Portfolio Executive will visit the customers to collect their feed back regarding the
Marketing plan 26
product and study their satisfaction. The above tools will help to identify the opportunity and
make strategies according for the establishment of the product.
Marketing plan 27
Costing of Rosuva®
Cost/Pack
Particulars
(Tk)
R/M cost 155.77
P/M cost 3.99
(R/M + P/M) cost 159.76
Add: Wastage (5%) 1.2
Total Material (TM) cost 160.96
Conversion Cost :a certain % of TM cost & is
7.99
given in A&F proposed price, equal for both
Production cost (PC) 168.95
Add: Fixed Admin. Cost and Sell & Dist. Incl.
Discount (18% of TP) 61.13
Add : Marketing cost (8% of TP) 27.17
Total cost 257.25
Mark-up 82.37
TP 339.62
Add : VAT (16.5% of TP) 56.04
Add : Retailer's Comm. (16% of TP) 54.34
MRP + VAT 450.0
GM % 50
Mark Up % 24
Marketing plan 28
6. Budget allocation for Rosuva:
Marketing plan 29
7. Financial projections
3,260,3
Revenue (Tk.) 52
97,
Less: 3% discount 811
3,162,
Net revenue (Tk.) 541
1,621,9
Less: COG 20
1,540,6
Gross margin (Tk.) 21
Marketing plan 30
8. Implementation controls:
• Day to day sales monitoring with the help of Square Information Backup System
• As the price of the product is high. Continuous communication with suppliers regarding
the price of RM so that right decision can be taken in appropriate time to face the price
war
• Necessary steps are taken by commercial department for smooth procurement of the raw
materials
• Regular communication with the filed force for updated feedback regarding the
prescription movement of the product
• Analysis of market share data provided by Market Research & Planning Cell, to take
necessary measure for increasing/sustain market share
Marketing plan 31