Pfizer Marketing Plan

Lyrica

Introduction

We will cover a few examples of good and bad marketing plans, and what it takes to have a good strategy to appeal to customer's interest.

Definition of Marketing Plan

A marketing plan is a written discus's that details the actions needed to achieve the marketing strategy of advertising.

Marketing Plans: an Example of Success

A product that has been successfully marketed is the medication called Lyrica,

developed by Pfizer. The company has downsized its sales force significantly over the past few

years. Recently due to potential toxicity the company has recently withdrawn some promising new cancer treatment drugs from the market. For many companies, such challenges would lead to a negative corporate image, decreased sales and the overall poor performance. However, Pfizer has done well with the sales of Lyrica, a drug that works to reduce neurological pain, such as in Fibromyalgia. There are several aspects of marketing that have worked for Pfizer.

First, rather than waiting for the FDA to demand withdrawal from markets, the company

took its new cancer drug off the market on its own. The agent had been approved through the FDA's fast track system, as primary studies show it to have promise for cancer patients. Voluntary withdrawal has sends message to consumers, that drug safety is important. "Despite significant reductions in sales force numbers over the past couple of years, this element of Pfizer's commercial infrastructure remains strong, particularly in the US market where direct-to-consumer (DTC) advertising has been used successfully" (Datamonitor, 2010). Direct to consumer marketing includes informative mailers and brochures and direct email. The drug is used to treat Fibromyalgia so there are plenty of support groups both offline and online for the disorder. Support groups are a source for target marketing of specific products to solve specific problems. Direct to consumer accomplishes two goals. It aims to reach a target audience and serves to establish a personal connection with consumers. An email or mail brochure directly to a Fibromyalgia sufferer lets the consumer know there is somebody with a solution for his or her problem.

Pfizer advertises Lyrica on major TV networks. The commercial is made more personal by relating the symptoms to viewers. Mass media aims to reach a larger segment of the market, even if many segments within the market do not benefit from the product. The disorder affects between 2 and five percent of the U.S. population. Therefore, mass media aims to reach as much of the target population as possible. It is also the type of mass media that may make a difference. According to Steinberg (2005), a call to action advertising is very popular today and can be more effective than general informational ads. The commercial for Lyrica calls for viewers to talk to their doctors about the drug, while also offering a basic explanation of how the product works.

Marketing Plans: an Example of Failure

An example of unsuccessful marketing is that of the Minnesota Twins. In the year 2005 the team promised to hand out ten thousand bobble head dolls to the first fans to attend the game. The dolls featured the 1965 American League champions. Many fans became angered because they claim there was no way the team could have given away ten thousand dolls. One fan claims to have been number 180 in line and the dolls were supposedly gone by the time he reached the gate with his ticket (Associated Press, 2005). Even if the Twins did give away ten thousand dolls as it claims, fans perceived a false claim which "Everybody out there says the same thing: There's no way they had 10,000 (Associated Press, 2005). Bobble head dolls are a popular way to promote a team and increase sales. Many will sell for a few hundred dollars.

Analysis of Examples

The Minnesota Twins meant well and had a good idea, which was poorly executed. To avoid negative perceptions, the wording of a marketing message can make a difference. Rather than state that ten thousand dolls will be distributed, an advertisement could simply state that dolls will be given away until they run out. Knowing stakeholders and how they will react to certain situations really takes some research and planning. Additional consideration for the marketing message could have averted the situation.

In addition to angering fans, The Minnesota Twins continued to claim it gave away ten

thousand dolls. The company defended itself by claiming that it actually ordered twelve thousand

dolls,