Marketing Strategies - Prenatal Oxylent - Essay Example

Relationship building with doctors and medical practitioners will be the crucial point of advertising as this product is prescription based.
1.1. Place
The product will be available nationwide on prescription through medical practitioners.
2. Market-Related Issues
1. Market Size,
There are over 62 million women in the United States of childbearing age from 15 to 44 years (“Facts”). This represents the potential target market for Oxylent. The primary market has been identified as women aged between 28 to 40 years.

The target audience of advertising efforts will be doctors who will need to be informed about the benefits of this product and who will eventually communicate these to women consumers.
2. Market Research, Test Marketing and Introduction

Currently, the Prenatal Oxylent pack is designed to contain 30 packets; further market research is necessary to establish whether additional packaging units must be made for 7, 60, and 90 packets. Additional research is also necessary with respect to advertising and distribution.

The product has been pretested for purity as well as potency; further market tests will be conducted using stratified samples for possible side effects. The product will be available nationwide using a market penetration strategy, along with a strong advertising effort.

3. Product Life Cycle and Product Positioning
Oxylent will be launched by the second quarter of this fiscal year and is expected to achieve strong market growth soon. The marketing strategies for the product have been designed to snare a ten to twenty percent market share in the first year. The Development stage is nearly wrapped up and product introduction is expected now. Sales volume is expected to be steep due to pricing strategy, strong relationship building and product innovativeness.

As opposed to tablets that have to be swallowed or chewed, this innovative powder has a fruity flavor and is easily dissolved in water, making it easier for pregnant women to consume it. Furthermore, the product contains zero gluten, lactose, caffeine, artificial flavors and sugar. This product's USP sets this product apart from the competition and attracts women. To ensure sustained market growth this USP needs to be communicated to the target market. Read More