Marketing and Distribution of New Food Supplement Products in the East European Market. A Business Plan How Food Supplements are Part of Our Daily Life and May Harm Us
The Food Supplements Market has grown in the last decade significantly and is nowadays a well known part of the health industry.
The current profile of the company is a state of the art natural products selling company with a sound level of market share on the Austrian food supplement market. A distinct product portfolio over the last 15 year has been developed and made the company a well-known player for qualitative food supplements products.
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Iterative activities for building growth have finally led to the situation of thinking about the so called next generation of food supplements, and the possible influence on the current customer profile and market distribution levels.
A major influence in the use of food supplements is the fact that it is as part of our daily life and harms our physical and physiological behavior and mentality through food and dietary nutrition. Facing the fact, that nutrition is part of our life style and influences our well-being, the systematic way to keep the high level of well-being is directly linked to nutrition and they way we follow it every day. Nutrition as part of our well-being is also influenced by our behavior, how we take care of our daily consumptions of foods and its ingredients. As everybody knows since childhood, food has major impact on ones physical development and mental healthiness. We have learnt that additional food ingredients can influence our well-being. Therefore the more we get aware of the influence, the more we care about our food and supplements to stay healthy and more or less emphasize the salutogenetic approach of medical treatment
. As ANTONOVSKY claims in his approach, people with ability for self-medication, they will have the ability to do everything to stay healthy and adequately live their life in such mode, that they will continue to stay healthy. This will be done with balancing their life in matters of daily work, stress factors, infections, social integration, self-confidence and many more. As BENGEL
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Discusses in his symptomatic approach, the question of being healthy is more the question of preventive medicine in respect of activating ones resistance against health influencing factors.
This fact is more or less the initial point of medication outside of the classical prescription medicine, in its pathogenic manner. Self-medication is a trendy thing and is part of a high quality standard of living, which gains more influence also in the social structure of people. To be healthy means high quality of living and following the trend will indicate the willingness to keep that quality on the high standard. Therefore, as a part of peoples lifestyle, they spend money for health, more as they would do without the influence of the know-how, that self-medication can offer. Healthiness in a salutogenic manner is definitely part of the high quality lifestyle of modern and high-civilized people.
This work will draft a business model in a very complex framework of a newly adapted legal structure in the health care business of food supplements and bioactive substances of phytopharmaca.
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In respect of the complex situation of the business models in pharmaceutical areas, this work will try to compile the key elements of a business plan required to be worked out in detail, depending on the vertical integration of the business characteristics on the current market situation. A general approach to the basic elements of a business plan will be elaborated and follow the essentials of a business plan concept, as there are:
Define structure of the value chain, required for the product creation and distribution. Value creation is necessary, however not sufficient condition of profitability; value creation is conditioned by:
In the first sections a comprehensive summary of the market share of pharmaceutical products in Central Europe and Eastern Europe in theory and as a general description will give an overview of the market situation. This will be covered by the following section:
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The Business Model and the definition of the Unique Selling Proposition. The comprehensive approach to the strength of such products on the market and its unique position will be explained within the main sections.
The Product mix and the key strategy to answer the question: “how to enter the market”. This will be done using the example for an upcoming market, like TCM (Traditional Chinese Medicine) and related products.
A closer look at the product launch and related project initiatives will describe the development planning and the concept. Various initiatives should show the possibilities for a future marketing structure.
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Finally, a Summary of the business plan will be developed. This will include a finance model based on the funding structure of the “7.FP” (CORDIS 7. Frameworkprogram) of the EU, conducted within the framework of the FFG (Forschungsförderungsgesellschaft) in Austria.
As in other industries, also in the pharmaceutical industry, marketing is a main part of the business model. The basic driver of the business is based on turn over of pharmaceutical products, and only some of them can compete as a kind of Non-Profit-Organization. Based on this fact, the goal for the business plan and the strategy is to generate profit and value, and therefore marketing as a main part of the business plan.
Even this industry needs marketing to sell their products, compared with other industries, pharmaceutical products are not the same. Take the example you want to sell cars. You can generate a marketing concept to sell more and more cars than others, because there is no limitation for the customer to have a least one car. In the pharmaceutical industry the principle is different. There is a kind of limitation. The limitation is based on the concept, that you cannot make advertisements for diseases and medications as much as you want. In other words and in a very simple approach, advertisement per se generates a bigger demand, in this case the demand would be defined by people with more diseases. And generating a mankind with more and more diseases would be an ethical problem.
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On the other side, marketing should be designed to help practitioners and patients to have the right medication to ease ones disease. So information about the medical product how to find the right medication, that generates profit, is the only way to allow pharmaceutical industry to make marketing for. The methodology of the definition of pharmaceutical marketing plan can also be described as a way to “find the solution, but never call it by name”. More details of how this challenge influences the structure and the outcome of marketing plans of pharmaceutical companies is analyzed and described in the following sections.
The marketing plan should help to coordinate the different activities that are required for effective marketing. Therefore the structure can be designed to mainly concentrate on a product or a product family, in different sectors or regions, or segments. The facts of the marketing plan are then based on the market analysis and rules, how marketing can be managed by the productmanagement of the company.
To setup a marketing plan, several topics must be considered. A specific know-how of the product in its market has to be available. This can be derived by the
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Therefore the marketing plan is a structured way to reach the customer, based on the market analysis for the products. The main goal of the marketing plan is the aim to reach knowledge of the own market.
To start with knowledge of the market, first the analysis of the market must be done. This is required for the next step, the analysis of the own position in the market. The analysis of the “As-Is” Situation of the market is the main requirement for future economic activities and profitability calculation.
The As-Is Analysis is essential to find the relation to the other competitors, and it shows the strength and weakness of the own products. Once this is done, an activity list to make the next steps can be created. This will include a detailed analysis of the position in the market and will identify the service requirements and product capabilities in relation to similar competitor products. During this analysis, an evaluation of chances and risks of the own products in relation to the potential of others have to be assessed in the way, that a small service range or product specification range can be defined, but is not small enough to push own products out of the market. Especially pharmaceutical products have intentionally a specific therapeutic area, in which it can proof its full potential and treatment capabilities. But in addition to that originally therapeutic indication, pharmaceuticals have also a second or third major indication where it can be used for (e.g. Vitamin C in different therapeutic classes).
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Finally the potentials of the own products are defined and the geographical location needs to be considered. This will be coordinated closely with the product mix and the customer segments. As a result of this combination, the market volume against the total market can be evaluated. This defines the market
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