Decision-making in the case of Metabical depends directly on the manufacturer’s performance, Cambridge Sciences Pharmaceuticals, and the FDA with clearance, including detailed profitability and cost-benefit analysis from Barbara Printup. Stakeholders include consumers, investors, and company management. The high quality of the product will be confirmed by the FDA and the fact of prescription for overweight people. This factor will be important in terms of the manufacturer’s reputation in practical pharmacology. If the 3C model is applied, then the company’s sustainable development will be associated with the assessment of product quality by consumers, supported by promising medical research. As a result, in order to create a competitive advantage, Printup must identify the right segment of the target audience and, based on this analysis, propose an appropriate product packaging and pricing policy. Although this drug clearly defines a group of people with moderate overweight, differentiation can be contrasted by the goals pursued by consumers.
Metabical is not covered by insurance and requires a 12-week course of treatment. Moderate obesity implies the absence of weight-related diseases that require specific intervention. As a result, in this case, the drug is suitable for people who lead a sedentary lifestyle, who, perhaps due to work, do not have the opportunity to conduct the active physical activity. However, drug treatment for excess weight has always contained many side effects that scared off potential customers (Kushner, 2018). If this drug does not harm the nervous and cardiovascular system, it has excellent potential to gain a foothold in the market. As a result, the target consumer will be people who care about their appearance, do not have the opportunity to resort to physical activity or cardio exercises, but at the same time have the financial ability to provide themselves with a 12-week supply. Under this category, Barbara Printup should consider men and women over the age of 25 who have a well-paid position that does not leave much free time.
Consequently, positioning should be like a premium drug for several reasons. First, medical and consumer research proves effectiveness. Secondly, prescription dispensing implies an appropriate level of acceptance among physicians, which correlates with the quality indicated. Because these types of drugs are not covered by insurance, people with long-term care can afford to buy the drug for 12 weeks. Therefore, the emphasis in positioning should be on the quality and premium release of the product, which will not be available to a broad audience, which will explain the relatively high price. Moreover, the package should contain, if not a whole, then half or a quarter of the course in order to motivate consumers immediately for consistent long-term treatment. Since the product will be positioned as high quality and expensive, there is no need to look for savings in terms of packaging, given the harm factor of treatment interruption.
Long-term sustainable development can be concluded by applying the 4P model based on the analysis above. The product is of high quality and requires recognition in the medical community; doctors’ prescriptions will become the leading sales force. Therefore, the price will be pretty high, as Metabical is positioned as a premium product. Place in this model includes specialized pharmacies, and this aspect is the only one where the factor of accessibility and availability should be considered. Finally, the promotion will focus on incentive mechanisms such as quality and encouraging clients to see a doctor, which is health promotion.
The communication strategy will include two work plans or two aspects of the IMC mix. First, promotions with the possibility of free testing for medical institutions to stimulate prescribing. Secondly, maintaining social networks emphasizes various incentive activities that can accompany treatment. For example, exercise for a few minutes, breathing exercises, recipes for a healthy diet, and other solutions for people who value time. Accordingly, within the framework of public relations, everyone will be able to receive answers from manufacturers and experts to any questions about the product. The budget, in this case, does not change, and the schedule includes only events for specialists and hiring a permanent employee to maintain social networks.
Reference
Kushner, R. F. (2018). Weight loss strategies for treatment of obesity: lifestyle management and pharmacotherapy. Progress in Cardiovascular Diseases, 61(2), 246-252.