Describe the target market for the otc

Assignment Help Marketing Research
Reference no: EM131584379

In this assignment you will have to create an over the counter drug. Your company (the manufacturer is a startup company and has no other products on the market). Once you have created your drug you will need to name it and describe the box.

In addition, you will have to describe the target market for the OTC and why this OTC would be applicable to your target market. This is an individual assignment and you should not work with other classmates.

This assignment suspends reality in that we will assume FDC approval and any combination of items is allowed as long as they make sense, e.g. you would not have prune, psyllium, or bran in a diarrhea medicine.

Designing your OTC Your over the counter drug must be composed of at least one item from categories listed below. You cannot add extra elements to your drug.

You cannot add extra elements to your drug that are not on the list. Form Flavor Type Color Powder None Pain White Gel Tablet Cherry Cold/Allergy Red Cream Lime Diarrhea Light Green Fast Melt Peppermint Sleep Aid No color/clear Gummy Coffee Weight Loss Yellow Inhaler Chocolate Laxative Light pink Honey Energy Brown Caramel To your basic drug you must add at least two ingredients, you may add more, but they must be from the list below, Ingredients Ingredients Ingredients Acetaminophen Decongestants Chamomile Aspirin Butterbur Fenugreek seeds Naproxen sodium Zinc Simethicone Capsaicin Vitamin C Cellulose SAM-e Echinacea Melatonin Antihistamines Pseudoephedrine Doxylamine succinate Expectorants Loperamide Diphenhydramine GABA 5-HTP Benzodiazepines Caffeine Fiber Stevia Hoodia Chromium Orlistat Magnesium Citrate Psyllium Magnesium hydroxide 2 Docusate Sodium USP Bran Prune Aloe Vera Castor Oil Ephedra Ginseng phenylpropanolamine Sugar Box Cover You must design a box for your new OTC.

The front of the box must contain all of the required elements listed in the front column. Your box must contain all of the elements listed in the slide column.

You may determine what you want to have on the back of your box, some choices are listed below. You will need to use a separate page for each side of the box.

Front Back Side Name of the OTC Drug-required History List of ingredients-required Advertising slogan-required Visual Dosage suggestions-required Company name-required Other Picture/ illustration-required Mascot (if desired) -required Target Market You must clearly describe the target market for your OTC drug using the segmentation bases from chapter 5.

Once you have clearly defined your target market you need to explain how this OTC drug appeals to the target market be specific. Limit to one page.

Reference no: EM131584379

Questions Cloud

Calculate standard deviation of the probability distribution : Calculate the mean and standard deviation of this probability distribution. Give a brief interpretation of the values of the mean and standard deviation.
State the null hypothesis and the alternative hypothesis : At the 0.100 level of significance, is that enough to conclude the residents of Wilmington, Delaware, have mroe income than the national average?
Keep after taxes when the property is sold in four years : Estimated sale price then will be $310,000. How much will you get to keep after taxes when the property is sold in four years?
Perfectly discriminating monopolist : In fact, a perfectly discriminating monopolist is able to charge each customer his exact (personal) reservation price for the item the monopolist sells.
Describe the target market for the otc : Describe the target market for the OTC and why this OTC would be applicable to your target market.
How many possible snack boxes are there : Let's generalize Problem to a regional Ultimate Frisbee tournament where there are n teams attending. Teams are assigned numbers (1 through n).
Large budget deficit in late 2009 and 2010 : Why did the government operate with such a large budget deficit in late 2009 and 2010?
High price for admission and a low price for popcorn : Should you charge a high price for admission and a low price for popcorn, or vice versa? In your answer, make sure you include the following:
How many different single-scoop ice-cream cones can be order : Let's also generalize Problems I and II to a more reasonable ice-cream store. There are still three kinds of cones (the usual), but now there are k flavors.

Reviews

Write a Review

Marketing Research Questions & Answers

  Write a reflection on a short-term marketing project

write a reflection on a short-term marketing project.P.S The marketing plan was different from the final club I worked with. We had to switch clubs from OE to Camping Club because OE did not watn to work with us.

  Craft your healthcare organizations quality philosophy

Craft your healthcare organization's quality philosophy by discussing the National Quality Strategy priorities and their application.

  Discuss about the antecedents of target marketing

Assumes that all members of a market have similar needs that can be met with a single marketing mix. A concentrated targeting strategy focuses all marketing efforts on a single market segment. Multi-segment targeting is a strategy that uses two or..

  Identify the essential components of your sales plan

Identify and review the essential components of your sales plan. Identify and document the business goals and objectives as a basis for measuring your sales performance.

  Explain the driving forces behind foreign market pricing

Product - What are the basic product benefits, brand name, warranty, service, or innovative qualities?Price - Currency exchange, any planned discounts during the year, method of payment accepted, or e-marketing (if applicable).Promotion - Advertisin..

  Should consumers trust companies

Should consumers trust companies? Why or why not? Do you think some consumers are just more prone to be loyal to companies .

  Develop an appropriate marketing mix to introduce product

Mr. Dhammika Rupasinghe is planning to introduce a new product, Industrial Gas Oven targeting Hotels and pastry shops. Develop an appropriate Marketing Mix to introduce this product to its Target Market

  How does current u.s. economy affect rei retail operation

How does the current U.S. economy affect REI retail operations - Employees within the companies would lose jobs (turnovers) or employees making less money.

  Five specific ways you can improve written communication

Describe five specific ways you can improve written communication with someone who speaks another language.- seven techniques for making ethical decisions across borders.

  What would health care systems be able to do in real time

Envision what the health care system of 2030 might look like? Describe at least two technological advancements that would be available to patients. How would technology help providers make health care decisions? How would patients and families int..

  Discuss about the cumulative session long project

SLP3 and SLP4.It is important to conduct quality market research on your focal product/company in order to develop realistic and workable marketing plans. Generally speaking, there are two types of research. One is secondary research, which refers..

  Examine the imc of the company of your choice

Examine the IMC of the company of your choice including how consumers are impacted by advertising. Clearly articulate the core of the strategy.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd