Wednesday, January 10, 2007
LIV 52: the next number 1 pharma brand?
The ORG IMS Nov 2006 MAT retail audit of the top 300 products is a very interesting picture. Liv 52 has the fifth top position and shows the fastest growth among the top 5 brands. Corex (Pfizer) is the numero uno with Rs. 100 crores plus MAT value followed by Phensedyl (RPG), Voveran (Novartis), Taxim (Alkem) and the fifth in the pecking order is Liv 52 (Himalaya). Liv 52 at Rs. 94.52 crores MAT value shows a clipping growth rate of 27.14%. This growth rate is in resonance with the ORG report that volume growth of old established brands is high.
The Indian pharma market is a bewildering mix of an estimated 70000 brands. The Indian pharma market is a showpiece for illustrating the term brand clutter. And in the war for mind share and prescription share, old and established brands have an edge since brand recall is easier. However, the unusual picture is that of the codeine phosphate containing anti cough preparations COREX AND PHENSEDYL always being at the top 1 and 2 positions. May be we Indians suffer a lot from dry and irritating cough. It takes products of addictive potential to break through the brand clutter and reach the top positions! (this indicates the potential for OTX market in India).
The rising purchasing power in India corresponds with increased healthcare spend. In fact, in India with 82% of the population meeting their healthcare needs through private resources, healthcare spend is ahead of apparel and entertainment spends. The healthcare market is a huge and growing opportunity. The per capita healthcare spend is lesser than China & Mexico too. The hospital segment is growing rapidly. The brand Liv 52 has a great opportunity for further growth in this fragmented market.
The triumph of Liv 52 to the numero uno pharma brand position is possible:
a) Address the OTX market and rural sector which are the emerging markets in India. Liv 52 has an appeal with the end consumers and well established brand equity with the Indian medical segment.
b) Focus for growth in allopathic and specialist segment, since prescription encashment is higher and value wise the prescriptions from this segment are very attractive.
c) Intensify product promotion to GP segment, Ayurvedic segment and RMP segment. Give an emotional appeal that this will be the triumph of the Ayurvedic segment and rightly so. Use a “carpet bombing strategy” for Liv 52 promotion.
d) Introduce database mailer based marketing for Liv 52 to strengthen communication process.
e) Go on a publicity and advertisement campaign for Liv 52.
f) Promote Liv 52 to market gaps like Liv 52 DS adjuvant to anti TB drugs, antibiotics and chemotherapy; Liv 52 for pruritus management and other skin afflictions also adjuvant to uv therapy used by dermatologists. These give long term prescriptions in favour of Liv 52.
g) Have a string of nationwide Liv 52 liver health seminars particularly for the doctor, nutritionist and paramedical segment.
h) Create a robust internal marketing campaign to field force to energise and create a buzz in favour of Liv 52.
i) Launch a “double Liv 52 sales” campaign with gift and cash incentives to the field force.
j) Liv 52 syrup product promotional strategy and tactics will play a major role in boosting the top line of Liv 52 since bottle prescription encashment is complete and not partial (as with Liv 52 tablets).
Alexander the great was an aggressive campaigner and the unique armory of his army helped gain control over territories by defeating enemies. Only such an aggressive campaign will work here. Only frontal attack strategy with an all out effort on all fronts of communication and marketing will boost Liv 52 to the very top. King Porus was a great and brave fighter. However he was a loser, being defeated by Alexander the Great. There is only one winner in love, war and in the marketplace. JO JEETA WOHI SIKANDER. Some marketing enterprise and going for the kill (not overkill) will take Liv 52 to the very top. Now is the time and the moment. Now or never!!
- Sunil S Chiplunkar
Good analysis.post your articles and inform me.
January 9, 2007 3:20 AM
Sunil. STRATEGY SUGESTION you can do a Gandhian campaign (ahimsa-Harmless long life)instead of alexander campaign( himsa-harmful-shortlife). which improves health, offers long time safety,seems to be slow acting but really aggressive and sure success. proven safety for 55 golden years. you can start this on republic day or gandhiji's death anniversary on 30th jan. you can develop more like... indian product,global presence and reputation for gandhiji and liv 52. Thank you.RM
January 9, 2007 3:36 AM
Sunil S Chiplunkar said...
I am really glad Gandhigiri is catching up with the pharma marketing trend. I will remember this Gandhian suggestion of yours. By the way I recommend you to visit John's pharma marketing blog and register there too. You can get the link to there from my blog. - Sunil S Chiplunkar
January 10, 2007 1:01 AM