The Marketing of Osteoporosis - Essay Example

Value is defined by Dr 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 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 the 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.

  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.