Technique for Positioning (Coursework Sample)
Metabical wants to introduce a new weight loss drug to the market. As indicated in the Metabical: Positioning and Communications Strategy for a New Weight Loss Drug case, Barbara Printup must make several decisions. She must determine a positioning strategy and marketing communications plan in preparation for the launch of the new drug. Printup must also consider consumer behavior and the opportunities medical staff have to suggest the product to their patients. Based on that decision, recommend how Metabical should be marketed to consumers.
Describe the optimal techniques for positioning the product for its target market. What is the best way for Printup to differentiate this product and appeal to a specific consumer group?
Outline a basic marketing plan that addresses the following (500-750 words):
What is the optimal technique for positioning the product in the market? Describe the product line and include competitors within this industry.
Recommend the most appropriate marketing channel.
Provide an estimate for media advertising and promotion expenditures for the initial product launch.
Recommend a manufacturer’s suggested retail price. Provide a justification for your pricing strategy.
Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center.
Obesity has been a major problem to millions of people in various countries in the modern society and result to a number of health challenges. Researchers engage in studies in order to come up with ways to tackle the problem of obesity in the society and consequently various drugs used to tackle the problem of obesity have been developed over the years. One major challenge that firms face in their plans to introduce new drugs into the market is marketing of new products (Hoeffler, 2011). It is essential that firms engage in deep analysis of the market in order to understand the variables in the target market to lay out an effective marketing plan to maximize on the sales and revenue of the firms. During the marketing process, firms must consider the positioning and communications strategy and must make decisions that help to fulfill the goals of the firms.
Technique for positioning
There are various techniques for positioning products in the market and proper positioning helps to maximize sales and revenue by helping to optimize the number of customers for the product (Kahn, 2012). The most effective technique for positioning a new weight loss drug is to position the product to specific segments. Such a technique proves to be the most effective since the drug only benefits the obese people in the society and marketing the product to the whole populations would lead to increase in cost but not lead to sales of the product (Ji, 2014). Using segments of the population and introducing the new drug to the segment of obese people therefore proves to be the most effective for the new weight loss drug. The product line for the weight loss drug includes a number of pills that helps to increase the burning of calories and suppressing...
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