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MKTG 4050- The Marketing of Osteoporosis - Essay Example

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James Anderson of Kellogg School of Management as “the worth in monetary terms, or the technical, economic, service and social benefits a customer receives in exchange for the price it pays for a market offering” (Daniels 11). For the value perceived…
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MKTG 4050- The Marketing of Osteoporosis
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MKTG 4050 The Marketing of Osteoporosis Your Project Brand Value is defined by Dr. James Anderson of Kellogg Schoolof Management as “the worth in monetary terms, or the technical, economic, service and social benefits a customer receives in exchange for the price it pays for a market offering” (Daniels 11). For the value perceived by customers who aim to purchase drugs for osteoporosis, the value is the relief, the cure, the improved health condition that is to be received upon use of the product. Customers would buy the product if and when they have perceived (for first timers) and proven (for repeat purchasers) that there is efficacy in taking these products as shown from the improved health condition that alleviates pain and suffering from osteoporosis. From the point of view of manufacturers, for instance, the critical positioning or selection process to be decided on would include price of the product, efficacy, propensities for side-effects (safety), and availability (or ease of access) and the overall satisfaction to be derived from the drug.
2- Your Brand
If one were to manufacture the most effective drug for osteoporosis, given the product feature characteristics and the value positioning noted above, the most important value that one would focus on is efficacy, or the ability of the drug to provide the desired effect (as promised) at the most immediate time frame, with the least side-effects. Focusing on this product feature would ensure that the customers would be satisfied with the drug, and would essentially purchase it despite applying premium strategies in price or place, as needed. Meaning, even if one would position the brand to be a little higher priced and to be offered in locations that are far or limited, customers would still seek to purchase this product due to the effectiveness of alleviating pain and improving the health condition of patients with osteoporosis, when compared to other drugs.
Work Cited
Daniels, Kikuyu. "Marketing Value Proposition and Positioning of Early Stage Technology: Five
Lessons to Learn From Traditional B2B Marketing." 11 January 2010. Slide Share, Inc. 9 October 2012 . Read More
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