A survey report on OTC product

and its marketing strategy.Subject: Business Research MethodsMBA Pharmaceutical Management

A Presentation Prepared by: Deep Shah Submitted to: Dr. Naushadul Haq Mallick

Introduction to Business Research Methods

Organizations use research, especially in market research activities.

Market research is used to identify potential markets, the needs and wants of each,

o How those needs and wants can be met?

o How products and services could be packaged to be most accessible to customers and clients?

o The best pricing for those products and services.

o Who the competitors are and how best to complete against each

o Potential collaborators

o and how to collaborate with each and many other applications of research.

Organizations can conduct this research without having to have advanced skills. This topic aims to explain the most important practices in research that provide the most useful results.

Introduction to OTC Products

Drugs that are safe and effective for use by the general public without a prescription are defined as over-the-counter (OTC) drugs.

These drugs are often located on shelves in pharmacies with easy access by patients, but may also be located in non-pharmacy outlets, such as grocery stores, convenience marts and large discount retailers.

In the U.S., there are more than 80 classes of OTC drugs, ranging from allergy medicines to pain relievers to weight loss products.

OTC Products Marketing Strategies

The OTC market is a specific market in the pharmaceutical sector and represents strategic opportunities for pharma companies.

Pharma companies are aware that the OTC environment and rules are different from the traditional prescription market.

Thus, the development of an OTC portfolio is a critical action, in particular to select the brands entitled to switch from Rx and identify their success factors in OTC market.

OTC products are medicines for benign pathologies and are often used in self-medication.

In a new environment with fierce generic competition and where products are removed from the reimbursement list, it can be a real competitive advantage to present a complete OTC portfolio to the pharmacist, using it as a real growth lever to promote the brands to end-users and pharmacists.

Objective & Method

Objective

To explore factors which may influence retailers and consumers when making decisions in relation to over-the-counter (OTC) medication.

Method

Data were collected from members of the public as well as retail pharmacists and chemists using structured online questionnaires.

Step One: To Choose

Company:

Five Pharmaceutical/Healthcare companies from the list of more than indefinite numbers of companies actively working on this planet.

Product:

This Five Companies are having numbers of OTC Products! & We have pick out one of the best.

Finalization

Student Company Product Use

Akshay Saxena Reckitt Benckiser Healthcare Ltd. Disprine Headache

Deep Shah Paras Pharmaceuticals Ltd. Moov Muscle pain

Deepak Singh Bohra GlaxoSmithKline Crocin Body Pain

Prithvi Raj Singh Procter & Gamble Healthcare Ltd. Vicks Cold/Cough

Sushain Mahajan Piramal Healthcare Ltd. Polycrol Acidity

Step Two: To Prepare

A Questionnaire

A structured, organized and easy questionnaire which can dig out all the information we needed for the research, “The Result”.

The Sample Population?

A sample population, Whom we should approach? Why approach them?

How useful they will be for our research?

Finalization

We came up with TWO different questionnaire.

1. For Patients/Consumers

2. Retail Pharmacist

Consumers?

Yes, because they will provide information regarding the quality, effect, reason for preference & side effects with the product.

Retail Pharmacist?

Again Yes, because they will provide information regarding sales & strategies for marketing of the product.

Questionnaire for consumers: Example 1

Personal Details

o Nameo Sexo Ageo Educationo Income

Result obtained in survey of CROCIN

30 people have participated in this survey, 88% were male and 12% were female having age ranges between 20 years to 40 years.

18% of them were students and remaining were employed having Income more than Rs10000.

Let’s Come to the point

1. Have you ever suffered from any pain?

2. For which pain you ever worry?

3. Have you ever suffered from muscle pain?

4. When treating muscle pain usually…

a. Ask Doctor b. Buy an OTC c. Heal by Herbs d. Ask Friends/Relatives e. Other

5. Will you prefer cream as a pain reliever instead of tablet?

From the above mentioned questions we led consumers to simply answer that they will Buy an OTC or not?

As well as from question no. 5 we came to know that how many of them can give preference to “CREAM” instead of “TABLET”? Because our product was MOOV.

Questionnaire for consumers: Example 2

Result obtained in survey of MOOV

13% of them found to be suffering from muscle pain at least once in a month, 13% several times in a month and 13% at least once a week from which 33%

are buying themselves an OTC drug without prescription. We found 64% people giving preference to cream over tablet.

Goal of research

1. Which OTC product will you prefer to treat your Acidity?

2. Come to know about Polycrol…

3. Reasons to prefer polycrol instead of any other OTC product.

4. Give ratings to polycrol. 5 for the best & 0 for the Poor.

From above mentioned questions we found how much % of people are actually using our product? From where they came to know about our product? Why they prefer our product? and How much they are satisfied with it?

Questionnaire for consumers: Example 3

64% people prefers POLYCROL Antacid

55% people come to know about POLYCROL from pharmacist, 18% from Doctor, 18% from Friends/Relatives and 9% from Leaflets

From which

o 50% prefers it because it gives fast relief.

o 6% because of previous experience.

o 13% because of referred by friends/relatives.

o 6% because of low cost and

o 25% because of their personal choice.

28% of people rated 5 for the POLYCROL, 27% rated 4, 18% rated 3, 9% rated 2 & 18% rated 1.

Result obtained in survey of Polycrol

Questionnaire for Retail Pharmacist: Example 1

Store details

1. Name

2. Age

3. Area of Delhi

4. Telephone No. (Optional)

Result obtained in survey of Vicks

15 medical stores have participated in this survey from which 40% from South Delhi, 30% from North Delhi, 15% from East Delhi and 15% from West Delhi.

Questionnaire for Retail Pharmacist: Example 2

Let’s come to the point

1. How often you come across to patients with headache?

2. How many brands of Aspirin do you keep in stock?

3. Keep Disprin or not?

From the above questions we came to know about how much % of headache patients he has to deal with? How many brands of aspirin (Competitors of DISPRIN) available in his store? and he has DISPRIN available in his store or not?

10% of Medical Stores deals for more than once a week with patients complaining headache, 40% Once in a week and 50% once in a month.

50% Medical Stores are having more than 5 brands of ASPIRIN available in their store, 30% are having 4 different brands, 15% are having 3 and 5% are having only 2 brands of ASPIRIN.

From which 78% of Medical stores are having DISPRIN available at their store.

Result obtained in survey of DISPRIN

Questionnaire for Retail Pharmacist: Example 3

Goal of Research

o Have you ever dealt with patient coming with recommendation of CROCIN by a Doctor/Physician?

o Will you prefer to give CROCIN to a patient with Body ache?

o Net Sales of CROCIN per month.

o Have you find CROCIN a successful brand?

From the above questions we found that does CROCIN ever recommended by a doctor/physician? Pharmacist prefer to sell CROCIN or not? Net Sales per month and at last his review on CROCIN.

Result obtained in survey of CROCIN

90% of Medical Stores have dealt with patients coming with recommendation of Doctor/Physician for CROCIN.

75% of Medical Stores prefers to give CROCIN to the patients with body pain.

55% of them are making net sales of CROCIN between Rs100 to 500 per month.

93% of medical stores have found CROCIN a successful brand.

Research is all about Creating New Knowledge.

-Neil Armstrong

Thank You