1.0 Executive Summary
Cambridge Sciences Phamaceuticals(CSP) developed the first prescription FDA approved drug for weight loss. This drug, called Metabical, is intended specifically for overweight individuals with moderate weight loss goals. In drug trials, the majority of participants reached their weight loss goals by week 12. An estimate of pricing for Metabical falls into the $3-$5 per day range with a recommended treatment course of 12 weeks.
This analysis of Metabical includes an overall review of the weight loss industry, a breakdown of the types of issues that overweight and obese individuals face when trying to lose weight and discuss the market survey completed by CSP that guides us to determine the optimal market strategy that should be used.
We will talk about the marketing objectives we will focus on to achieve success by selecting a positioning strategy and target market to maximize the potential benefits of Metabical as it hits the market.
The Marketing Mix is also an important element of the Marketing plan that we need to discuss to ensure a successful program. This includes things such as packaging, advertising, promotion, sales, and pricing considerations.
Once these elements are in place, action plans, budget, and Contingency plans are also needed to help guide the way when the unexpected could happen.
Cambridge Sciences Phamaceuticals spent a tremendous amount of time and money on the Research and Development of Metabical. This included FDA trails to gain approval to use Metabical as a prescription strength product. This amount of investment put CSP in a position where they needed a strong Marketing Strategy to successfully launch Metabical and generate long term, steady demand to recover their investment thus far and make a profit. A failed product launch with target customers would invalidate the credibility of CSM despite FDA approval and lead to poor performance.
The goal of the CSM marketing manager, Barbara Printup,...