FDA approved, Metabical wasintroduced to the market and is known to be one of the finest medicines designed to help curediseases that come with being overweight.
It is a new weight loss drug thathas been developed and is expected to help the obese lose weight in aclinically proven and tested manner (Quelch & Heather, 2010).Just like everyother company just starting out, you need to find a quirk about your productthat sets you apart from the competition. Slogans and jingles are a great wayto shift the attention to your product, and in this case, “Enjoy your deliciousmeals to your fill without panic of being overweight as Metabical will crushall the extra calories menace”, did just the trick. But, not only is a catchyslogan a great way to catch potential consumer’s attention, it is also beingable to reassure your target market. In this case, being approved by the Food andDrug Agency is a great way to sell individuals on your product. As stated, the companyestimated the retail price for this product would range from as little as $3 to$5 per day for about a grand total of 12 weeks; which can cost someone up to$420 for treatment. Unfortunately many insurance companies do not coveranti-obesity drugs; which leads to many consumers having to cover this cost bythemselves. The main concern that healthcare providers had was the chance that once consumers stopped taking the pills,they would gain all the weight back.
Making the treatment pointless. The main process when it cameto Metabical was Direct-to-consumer advertising, also known as DTC. Printup’s method was solely centered aboutgetting the name out there. Which included, any sort of advertisement on TV,radio, or even print; Metabical was everywhere.
Around the time of the launch,the company’s main focus was to promote profoundly throughout the first year toestablish the name. In addition, Printupdedicated half of the budget allowed for the first year to just DTCadvertising. Their main goal was makingsure that anyone who came in contact with the drug was aware and knowledgeableabout it. The promotionbudget is estimated at approximately $1.3 million, which is earmarked for thesepromotional activities in Year 1. Printup had planned a mailing for 100,000health care providers, which also included an informational pamphlet about thedrug and a reply card offering as a sample of the support program (Quelch,& Heather 2010).As for Publicrelations, their efforts would include not only well-timed pre-launch andat-launch press releases, but also two high-profile medical education eventsand a series of podcasts aimed at Physicians.
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Printup estimated approximately$4.3 million would be Spent in total on public relations activities in thefirst year (Quelch, J. A., and Heather B., 2010).To conclude, thiscompany, like many others, invested a lot of money to get the name of theirproduct out there.
But the lesson learned here is not only is the initialadvertising done vital for success, but also keeping your product in demandafter that initial promoting is over.
