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Management Paper - Assignment Example

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It has been determined that Auxilium Pharmaceutical needs to implement a new strategy approach to turn the company around. During the last three years the firm has obtained negative losses of approximately $50 million per year (Annual Report: Auxilium, 2010)…
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Management Paper
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Download file to see previous pages In the week four paper I identified several strategies that Auxilium Pharmaceutical could pursue. The purpose of this paper is to prepare an implementation plan for the company. A complete financial breakdown of the budget to implement the plan by segment is illustrated in Appendix A. The company must build up the image of the company and reinforce its brand value across the domestic United States marketplace. The company needs the doctors to recognize the firm’s brands as one of the best alternatives to treat Dupuytren’s contracture and hypogonadism. The company must hire a temporary workforce of pharmaceutical sales representatives for a period of six months. Each state will be allocated 100 pharmaceutical sales representatives. The goal of the program is for the pharmaceutical sales representatives to visit the offices of every doctor in the United States and to give them several samples of both drugs. As of 2008 there were 661,400 doctors in the United States (Bls, 2011). The purpose of the initiative is to create brand awareness of the firm’s products and to provide a personalized customer service to the doctors that prescribe the drugs. The cost to implement the plan is illustrated below: total employees 5000 Total hours elapse (6m) 1039 Total man hours 5,195,000 Labor cost per hour $15 Project cost $77,925,000 After the completion of the six months the company will not have to pay anymore the pharmaceutical sales representatives because their contracts will end and the company will no longer need their services. Due to the high implementation costs of the plan the company could divide the visiting doctor project in two years. The project after six months or lower and $38 million in spending would become inactive. The following fiscal year the company would fund the additional $38 million to complete the project. The company will also target the end user of the medicine, the patient. The company must increase its marketing budget a lot in 2012. The firm’s marketing budget must be at least twice of its 2010 spending. An effective branding strategy requires a high capital investment. The firm should create a new advertising campaign to be launched on Christmas day. The commercial will be launched simultaneously on the written press, television, radio, and the internet. The written press commercial will be a reanimation of the commercial in cartoon format. The radio commercial will provide the same audio as the television commercial. The television and internet commercial are identical. The total elapse time of the commercial will be 15 seconds. The advertising campaign will be run on television and radio for 30 days. The written press will have the commercial on for a period of 30 days with an offering of the commercial once a week. The internet campaigns will be ran for 90 days. The reason the internet campaign will be run longer is due to the lower cost of internet commercials. The total budget for the project is $2,000,000 million. The organization will use additional campaigns in order to raise the brand value of the firm. One of the technological tools that will be used to target specific customer profiles is the use of cellular technology advertisement. One of the advantages of cellular advertisement is that the entire population of targeted customers receives the message into their phones simultaneously. Due to the graphic and online capabilities of smartphones the company could design very appealing commercials. The commercial length should not exceed 15 ...Download file to see next pagesRead More
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