The paper “ Natalia’ s Herbal Pain Relief Cream Marketing Mix” is an apposite version of the case study on marketing. The aim of this section of the marketing plan is to come up with a suitable marketing mix for Natalia’ s herbal pain relief. The marketing mix is defined by the current market situation in the Australian Pharmaceutical industry. This marketing plan section will have recommendations for the most suited marketing mix for Natalia’ s herbal pain relief. The marketing mix analysis is based on the target market characteristics and the competitive environment in the pharmaceutical industry of Australia.
This section will also provide a budget estimate, evaluation and implementation strategy for Natalia’ s herbal pain relief marketing plan. NB: “ The product” refers to Natalia’ s herbal based pain relief creamNatalia’ s herbal cream mission is to be the world’ s number one herbal-based muscle pain relief. To achieve this mission, Natalia’ s company has the following specific marketing objectives: To ensure the brand ranks among the top three pain reliefs in Australia To increase the volume of product sales by at least 10% monthly To acquire 5% of the market share in the first three years To ensure the product is available all over Australia at a competitive price within one year Market segmentationAccording to the Australian Institute of Health and Welfare (AIHW), about 28% of Australians have arthritis and other musculoskeletal conditions.
These are the most common chronic conditions in Australia (Australian Institute of Health and Welfare: Australian Government, 2015). According to data from the Australian Bureau of Statistics, 65% of Australians aged between 15 years and above participated in physical activities for recreation, exercise or sport at some point between 2011 and 2012.
27% of these participated in organized sport (Australian Bureau of Statistics (ABS), 2012). This market size comprises a huge chunk of the target market for Natalia’ s herbal pain relief cream. Between 2008 and 2009, $5.7 billion was spent on arthritis and other musculoskeletal (Australian Institute of Health and Welfare: Australian Government, 2015). Natalia’ s herbal cream can be used for both chronic conditions and common muscle pain problems from physical activities making it an ideal product for the target market. According to data released by the Australian Bureau of statistics in 2008, 750,000 Australians consulted a complementary health therapist.
Chiropractors and naturopaths were the most consulted therapists. This was a growth of 80% compared to 500,000 Australians who sought complementary therapy in 1995 (Australian Bureau of Statistics (ABS), 2008). Going by this trend, there is growing acceptance and demand for natural medicine for common ailments amongst Australians. Natalia’ s product is, therefore, well placed to serve the target market provided pricing and distribution elements to meet consumer’ s expectations. ProductNatalia’ s herbal pain relief will be promoted as an effective and natural medicine for common muscle pains and chronic musculoskeletal conditions.
There is a growing trend in Australians and the rest of the developing world to seek alternative natural therapies since they are less intoxicating to the body (Stobart & Francia, 2014). In addition, herbal drugs have been known to boost the immune system (Packer, Sissi, Choon, & Halliwell, 2004). However, it is important to note that, the demand for herbal medicine can only be existent if they alleviate muscle pains in the users. A product has to meet the primary expectations of a consumer in order to be competitive (Walker & Mullins, 2010).
Natalia’ s herbal creams will indeed have proven effectiveness in relieving pain. Testimonials from users and approval from Therapeutic Goods Administration, Australia will be critical in marketing the product to first-time buyers. Natalia’ s herbal pain relief will satisfy two consumer needs in the target market. First, the herbal cream will relieve users of pain in their muscles and joints. Secondly, the herbal cream will offer consumers the satisfaction of knowing they are using a natural product that is totally safe-to-use for their bodies.
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