Metabical Questions - Case Study Example

What is the decision-making process for Metabical? Who is involved in the process? Consumers have a common behavior pattern as far as the process of purchasing products is concerned. Based on the decision-making framework within the Metabical theory, consumers go through five stages before finally making a decision on whether to buy a product or not. Therefore, businesses should understand consumers’ needs and what informs their overall process of product purchase within the market, when using Metabical decision-making process. First, consumers attempt to recognize the need that the product will solve through developing a better understanding of the problem. Lack of satisfaction with the current products used by consumers is manifested in their body image, lifestyle among others. Furthermore, other external advertising platforms such as TV, radio and even newspapers creates the recognition among consumers (Berkowitz 161). Once the need is recognized and the problem identified, consumers engage in information search during which they attempt to find proper solutions to the problems. Consumers acquire information from various sources in order to make independent decisions and evaluate the options available for them. Information during this stage can be acquired from the internet, newspapers and even magazines. Once the information on the product of choice is acquired, consumers undergo a process of evaluating the alternatives available. This is done through the analysis of different product brands in stock within the market and whether they can fulfill a current need. During this stage, consumers may also engage other players within the market to acquire information on the different products available (Berkowitz 161). After critical evaluation of the alternatives in the market, the consumers can either decide to make a purchase or not based on how convinced they are. In this case, the consumer may decide to engage in the metabolic weight loss program based on whether the information acquired was convincing enough or not. During this stage, the consumer determines whether the purchase was well informed and whether a similar decision can be made in the future. Cognitive dissonance will be embraced in this instance to demonstrate whether the consumer's decision was right (Quelch and Heather 46). How should Printup think about the segmentation of potential Metabical consumers? Who is the optimal target consumer? In market segmentation, a specific market niche is broken down into different groups based on the similarity of their needs and their characteristics. Prior to segmentation of the market, Printup must develop the right communication strategy to reach out to the entire market. Based on the information from the case study, a number of segmentation strategies can be adopted to improve the company’s performance. The segmentation of the Metabical market can be done based on the body mass index of the consumers, a process described as end-user market segmentation. Based on the objectives of the Metabical product, the focus is placed on the overweight consumers who are aged 25-30 years. Optimal target market can also be used in the segmentation of Metabical market, a process that involves the identification of the best market and directing all the communication energies towards this segment. The product end users are the ultimate target for the weight loss product developed by Printup Company (Berkowitz 161). Medical healthcare professionals also play a major role in the success of the product designed by the company including medical physicians, pharmacists and gym instructors. Accessing the right information will enable these professionals to enhance their overall contribution to the weight loss program developed. The identification of the roles of the healthcare professionals will enhance their contribution in ensuring that the products designed by Printup meet the needs of the market (Quelch and Heather 46). How CSP should identify and employ the differential advantages that Metabical offers to position itself in the marketplace The market has a large number of weight loss products, which are substitute to those that Metabical intends to introduce to the market. As a result, the products must develop a strong market access strategy to enable it reach out to the consumers and establish its dominance. Due to the high demand for weight loss products, cons and other dishonest companies have adopted a number of ways to deceive the consumers. However, Metabical products have specific advantages and point of differentiation that enhance its market performance when compared to other similar products. First, the food and drug agency has approved products marketed and supplied by Metabical, a step that has enhanced its quality and safety (Quelch and Heather 46). Metabical products also contain closera that is the main active product with a significant reputation in the food and pharmaceutical industry. This product is engaged in improving the activity of the liver and the heart that is the major organs involved in control weight loss or gain. Metabical can achieve maximum activity within the first 12 weeks, a fact that is considered a strong point of differentiation. The combination of calosera and Meditonan improves the bioavailability of the product and increases its reaction rate as compared to other products in the market (Beckham and John Quelch 1). The safety and effectiveness of Metabical product enhance its market performance and improves its acceptability in the market. Apart from the Metabical products, proper consumer behavior such as health eating patterns will enhance the process of weight loss in patients. This is a major point of differentiation of the product, which makes it well placed to meet the needs of the market and the target group (Berkowitz 161). Given the positioning strategy you use how would you communicate to each of your target audiences? Communication is the most important aspect of every marketing initiative as the consumers must be engaged and convinced to acquire the products. However, communication can only be successful if the marketers understand the product and the market niche it targets at any specific time. The existing brands in the market must also be understood in order to position the products of the company based on the market needs and the tastes of the consumers. Acquiring accreditation by the food and drug agency is the first major step that the company made towards positioning itself in the market (Beckham and John Quelch 1). Today, Metabical is the only prescribed weight loss drug that is marketed and recognized in the market, a situation that places the company at a better position to enter new markets. The communication strategy of the company targets both the end product users and medical experts whose advice the patients constantly seek. Printup has developed a unique marketing mix, which has enabled it to reach out to new markets and maintain the current market base (Berkowitz 161). The communication strategy adopted by the company is driven by a desire to place Metabical at the forefront as the most effective and safe weight loss drug. Effective communication strategy will also highlight the benefits of the product to the market target groups with an adult BMI. It must also demonstrate that the products marketed by the company were the first and only weight loss pills to be recognized by the food and drugs agency of the United States. Works cited Beckham, Heather, and John A. Quelch. "Metabical: Pricing, Packaging, And Demand Forecasting Recommendations For A New Weight Loss Drug." Harvard Business School Cases (2010): 1. Berkowitz, Eric N. Essentials of Health Care Marketing. Sudbury, MA: Jones & Bartlett Learning, 2011. Print. Quelch, John and Heather Beckham. “Metabical: Positioning and Communications Strategy for a New Weight Loss Drug”, HBS Brief Cases 4240, 2010. Print. Read More