Problem Statement Cambridge Sciences Pharmaceuticals (CPS) wishes to determine the best possible target market in order to launch Metabical, the new weight-loss prescription drug that’s stipulated to be included in their portfolio.
Importance of Positioning Strategies It’s important to note that finding the accurate positioning for any product within the market is crucial, given that historically when a product is incorrectly placed it tends to lack market survival. This was the case for Red Bull Cola, the soft drink launched by Red Bull around 2008. The brand thought that entering the soft drink market would be a correct decision given their success within the energy drink market, but they didn’t consider their primary competitors, and lacked the business savvy to compete with large players such as The Coca Cola Company and Pepsi, making them pull the product out of the market shortly after to avoid sustaining any more loss.
Situation Analysis CPS is an international renowned company within the health care sector that’s looking forward to introducing a new weight-loss drug proven to be safe and effective. Although the product has been well received throughout its trials, the marketing strategy to introduce the drug in the market place is key for its success and positioning. The launching of Metabical has been assigned to Barbara Printup, Senior Director of marketing for CPS; whose experience within prescription drugs marketing has a trajectory of over 20 years. The FDA approval for the drug is expected for 2008 with the product launch scheduled for early 2009. Currently, there is a clear opportunity for expansion in the population, due to the rising number of overweight and obese adults in the market.
Market Summary After an extensive marketing research CPS has managed to obtain valuable information regarding its potential customers, which will be leveraged to better comprehend and recognize the