Summary and Recommendations

The OTC market may be characterized according to the organization, appropriation channel, route of administration, and geography. The advice presented in this section would reposition the firm to boost sales. First, Bayer Corporation may enhance Midol sales utilizing packaging, content advertising, and target response while outlining the limitations of competing medications in comparison advertising.

The firm should position the brand for super patterns in health care employing administrative leadership in each brand market and putting resources into a strong target audience and customer niche. The organization should drive quality via efficient and effective medicine manufacturing and development by focusing on its business strength, such as innovation and market prospects.

Market Analysis by Product Category
Over-the-counter (OTC) analgesics are sold utilizing large advertising budgets from the finest brands. Advertising and selling rates in this area range from 30 to 60 percent and are greater than other sales divisions. The OTC market may be characterized depending on the organization, appropriation channel, route of administration, and geography (Mullan et al., 2016). (Mullan et al., 2016). Based on the manner of the administration, OTC goods may be classed as an oral dosage, topical, intramuscular channel, or intravenous medication.

Under the distribution channels, analgesic medications may be classified into healthcare facilities, medicine shops, retail stores, and internet enterprises. The drivers for the OTC analgesic market include product demand, the geriatric population increase, and cost, which have driven the adoption of off-label prescriptions (Wilbur, Xu, & Kempe, 2013). (Wilbur, Xu, & Kempe, 2013). This development process has influenced the pain management procedure because of the accessibility of OTC analgesics (Axon, Hernandez, Lee, Slack, 2018). (Axon, Hernandez, Lee, Slack, 2018).

Analgesic producers and merchants are increasing their portfolio and geological image to develop a worldwide brand (White, Kloner, Angiolillo, & Davidson, 2018). (White, Kloner, Angiolillo, & Davidson, 2018). Drug responses, for example, constipation, lassitude, and heart-related disease linked with OTC analgesics are market constraints (Anderson, Ciliberto, Liaukonyte, & Renault, 2016). (Anderson, Ciliberto, Liaukonyte, & Renault, 2016). Studies have demonstrated that OTC analgesic affects the cerebrum in uncommon circumstances (Anderson et al., 2016). (Anderson et al., 2016).

Long-term usage of palliatives or anodyne develops drug addiction. Midol, like every other analgesic, is a painkiller that inhibits menstruation feeling for a time or permanently. The OTC medication is taken without a medical prescription for menstruation discomfort. Thus, pharmaceuticals that do not need medical prescription care are designated as OTC analgesics, for instance, pills for fever, physical pain, or menstrual cramps. Introducing social insurance schemes and regulatory criteria has accelerated the development of alternative pain management systems to minimize service costs in healthcare delivery (Anderson et al., 2016). (Anderson et al., 2016).

The market study of Midol analgesic reveals that clients pay attention to comparison advertising concerns non-exclusive marketing (Anderson et al., 2016). (Anderson et al., 2016). By implication, 65 percent of all commercials are indirectly relative, whereas 20 percent feature direct comparison marketing. However, it is tough to assess whether customer behavior is based on the informed purchase or affected by marketing.

Although analgesic cures pain, fevers, brain aches, and menstrual cramps, there are some distinctions between analgesic brands. In a consumer’s opinion, employing a simple alleviation for menstrual cramps is hard. Options in the drug shop are adequate to exacerbate menstruation discomfort. Most analgesic comprises four active ingredients, packaged and advertised from numerous viewpoints to appeal to customers. The perception leads this study to analyze the role of advertising in this market and the hypothesis about product distinction. The brand’s active components are listed in table 1.

Table 1: Brand Active Ingredients.

The competitive market for Midol analgesics includes Advil, Pamprin, Excedrin, and Tylenol. Wyeth, Chattem, Novartis, and McNeil market these drugs. The market index shares and advert shares for these products are shown in table 2 and figure 1.

Table 2: Market Index of some Analgesic.

Perceived Differentiation

The FDA has standardized the ingredient measurements for disputing brands. Ibuprofen, acetaminophen, and caffeine are all included in about equal amounts in each brand’s pills. Bayer Pharmaceuticals so uses successful advertising strategies to market its brand. Companies recognize that due to FDA restrictions on OTC product quality and safety, there isn’t much to distinguish these medications from one another. The Bayer brand mix and market analysis for Midol are made easier by this legislation.

In this case, assuming that consumers are aware of all OTC analgesics and using informational marketing techniques to encourage consumer perception of the product. Bayer Corporation may thereby increase the sales of Midol by using packaging, content advertising, and target responsiveness while highlighting the drawbacks of competing medications in comparative advertising. Four cardinal points are essential to Bayer’s Midol strategic marketing.

positioning the brand to reflect modern trends in nutrition and healthcare
controlling the administrative leadership portfolio in each brand market via resource allocation to a potential target market and customer niche
enhancing quality via effective and efficient medication development
focusing on its competitive advantages, including innovation and market possibilities

Business Strategy of the Segments

The benefits of self-care are becoming more prominent due to the rising expense of healthcare services and consumers’ moral obligations. Then, a single, a single, a single, a single, a single, a single, a single, a single, By directing resources to innovation and Internet business operations, Bayer is managing these developments via brand distinction. Social insurance regimes have challenges in order to remain viable in the face of this development. By developing marketing recommendations that provide clinical benefit and value in the therapeutic fields of cancer, wellness, and ophthalmology, the Corporation contributes to healing improvement.

Consumer Action

Through the social activity of marketing, individuals exchange goods with one another to get the things they need. The movement and process of creating, importing, disseminating, and exchanging contributions with an incentive for clients, consumers, and society are referred to as the marketing (Huh, Delorme, & Reid, 2016). Instead of emphasizing great sales, advertising convinces consumers that a brand represents excellence. By highlighting the benefits of medicine and enhancing customer value, product marketing influences consumer behavior (Seubert et al., 2017).

Bayer Pharmaceuticals uses target marketing, comparative advertising, content analysis, and advertising features to specifically target adolescent audiences. Teenage girls, in general, are more attracted to product features than price differences. As a consequence, the company employs target comparative marketing to advertise the benefits of the medicine. This is accomplished via emotional marketing, in which customers are informed about the comfort of their bodies.

They develop emotional attachment-stimulating situations using social media platforms depending on the characteristics of the substance. The instructional value of product advertisements is shown via content analysis by highlighting key elements and characteristics of the analgesic (Huh et al., 2016). If an advertisement covers several topics, its impact on any promotional campaign is reduced. As a result, the message’s themes must describe a particular advertisement’s substance.

brand evaluation

One of every organization’s most effective resources is its brand identity. A brand helps a firm obtain a thorough knowledge of client behavior and motivates it to maintain its investment in the face of competition. The brand encompasses every facet of the company and enhances internal organizational communication. Businesses engage in marketing materials, including logos, promotions, item bundling, and commercials, yet the desired results do not materialize, leading to the mixed premise that “we cannot increase results.”

The growth of an organization’s brand depends on investing resources in it. Market segmentation is a method of grouping customers into clearly identifiable, measurable groups that have similar wants and values. After identifying many target groups, advertisers assess which target market needs promotional sales, market strategy, and product development.

Targeting, positioning, and segmentation
Competitive marketing practitioners are likely familiar with segmenting, targeting, and positioning (STP). Among the countless advertising models, it stands out. The STP model is useful for creating ad designs since it encourages marketers to arrange ideas to generate and transmit personalized and relevant messages to the target audience (Petkova et al., 2014).

Five insights, including the firm, context, collaborators, rivals, and customers, have an impact on the Midol brand study. For certain target audiences, Bayer Corporation works to segment, position, and distinguish its brand. Since teenagers are least likely to take birth control pills and have menstrual pains, the firm focuses on them. The 4Ps of marketing are used to implement various strategies as investment activities.

In competitive marketing, the factors of the product, location, promotion, and pricing have been helpful instruments. For the majority of firms, it has been difficult to segment the target market for greater profitability. By segmenting the market, Bayer Corporation provides consumers with improved service, forges strong connections, averts competition encroachment, and retains customers with a greater return on investment. Bayer Pharmaceuticals has been positioning its brands to appeal to the target market since segmentation differs depending on region, demographics, psychographics, and behavior.

Age, gender, education, and income are all considered demographic factors. This setting informs Midol’s targeting of women, with a focus on adolescent females in particular. Psychographic segmentation comprises attitude, way of life, and personality. The company spends money on content marketing and advertising as part of behavioral segmentation to tell people about the advantages of the painkiller Midol (Seubert, Whitelaw, Hattingh, Watson, & Clifford, 2018). This tactic fosters loyalty and improves client retention. Bayer focuses on young girls since they often use analgesics to treat period cramps and discomfort. The firm thus concentrates on the 4 Ps of marketing.

Analysis of the marketing mix is the process of positioning, which aims to increase sales. Effective decision-making is required in the areas of pricing policy, retail location, product innovation, enhancement, advertising websites, and social media platforms (Petkova et al., 2014). The positioning statement for Bayer explains its overall approach. Consistency and prioritizing are essential components of an active positioning system. As a result, segmentation, targeting, positioning, and product differentiation form the foundation of Bayer’s market strategy for Midol.

Portfolio
By putting an emphasis on the advancement of scientific investment, Bayer Pharmaceutical hopes to maintain its brands in appealing markets and to increase the secure position they now have. The organization employs collaborative synergies to raise the standard of medication administration as a consequence.

Growth
Bayer invests resources in developing its imaginative design and its unique capabilities. The company also takes advantage of chances in the emerging market.

Productivity
Based on the adage “more progress, less organization,” Bayer maintains its commitment in enhancing efficiency by dividing organizational structures and processes.

Healthcare

The objectives of Bayer’s marketing strategy are to supply high-quality healthcare, make a profit, and maintain development. The corporation, therefore, concentrates on expanding and solidifying its position in the rising areas. The target group’s prescription options are improved by their exploration approach for innovations with high returns.

Marketing Mix for Midol
The organization’s pricing, advertising, and allocation strategies are described in the marketing mix.

Product

Bayer offers an extensive variety of healthcare products to its customers. The four segments of the product include hematology, oncology, analgesics, and cardiology drugs. The organization invested in these products based on its profitability. Midol falls under the OTC analgesic used for menstrual pain relief. As a result, the organization creates awareness using effective marketing strategies. Other product classification includes non-prescribed drugs such as flu or cold analgesics.

Price

Pricing assumes a crucial role in the therapeutic industry. Most brand owners rely on this strategy to create a competitive edge. Since most analgesics have the same constituents, brand differentiation relies on either content advertisement or pricing (Petkova et al., 2014). Based on this context, Bayer has consistently centered on quality healthcare. The organization has pursued a focused-based marketing mix system. However, the separating factor is the quality they never bargained for. Bayer has an active procurement and logistics channel. As a result, it lessens the cost of the supply chain logistics while maintaining safety and environmental standards.

Place

Production and procurement strategy is essential for Bayer Pharmaceuticals. This guarantees that drugs are accessible based on delivery time and place. This helps the flow of materials in the dispersion channels. Under the placement strategy, Bayer will distribute its products to the target market in record time. Since analgesics are OTC drugs, the primary channels are retailers and superstores. The organization creates an active logistic channel that covers areas of high profitability. This strategy positions the brand above other competing products.

Promotion

Bayer uses different publicizing and promotional methodologies to create an expanded market. The organization conducts promotional sales highlighting the Midol brand’s comparative benefit. The organization uses social media platforms to display products and promotional services.

Table 3: Midol SWOT Analysis.

Recommendations

The recommendations include market responsiveness, product superiority, distribution efficiency, resource management, market dominance, effective supply chain, and technological advantage. These strategies would position the Midol brand above its competitors and close substitutes. Under market responsiveness, counselors on the social media platform must be efficient and responsive to customer clarification and feedback.

Consequently, store attendants could be employed at each superstore to assist in educating teen girls on the best prescription for their illnesses. The organization must set standards on product superiority to create a competitive edge with brand differentiation. Distribution efficiency is critical in a competitive market. The availability of products at all times makes it difficult to use close substitutes. It also gives options to customers who could not find the product of their choice.

The content analysis promotions can improve the market dominance of the Midol brand. Brand positioning aims to enhance sales by attracting new customers. The benefits of these recommendations include improving sales, new customers, and new goals, and increased engagement and streamlining messaging. However, the cons of brand positioning include the high cost of advertisement, low patronage, and confusing marketing.

Changes in Target Market Age

The organizations concentrated on women from the ages of 22 to 28. However, the target populations used different birth control prescriptions to prevent unwanted pregnancies and the effects of long menstrual cycles. As a result, women from 24 to 28 are no longer profitable for promotional sales. The organization needs to focus on a new ‘target group’ to improve its sales. The menstrual side effects are severe for teen girls and could be a critical focus in positioning the brand.

Customer Research

Customer research is another area for investment. Allocating resources for consumer evaluation and market analysis is essential. The recommendation would build confidence in the brand using direct feedback from customers. The organization could conduct the survey using social media channels and online polls. A loyalty program could be added to stimulate customers to take part in the exercise. Thus, online promotional sales connect customers with solutions to their challenges.

Communication

An effective communication strategy aims to create brand awareness (Jalal et al., 2018). There should be more buzz and discussion about the benefits of the Midol analgesic. The organization can achieve these objectives by executing focal and fringe promotions using online media, direct marketing banners, and promotional commercials. Fringe developments require little idea as it serves to draw target groups to acknowledge the product. Fringe advertisements and commercials are simple, using empathy, humor, satisfaction, misery, or joy to connect customers with practical solutions. Thus, the target audience forms suppositions using responsive brand adverts.

References

Anderson, S., Ciliberto, F., Liaukonyte, J., & Renault, R. (2016). Push‐me pull‐you: Comparative advertising in the OTC analgesics industry. The RAND Journal of Economics, 47(4), 1029-1056.

Axon, D., Hernandez, C., Lee, J., Slack, M. (2018). An exploratory study of student pharmacists’ self-reported pain, management strategies, outcomes, and implications for pharmacy education. Pharmacy, 6(1), 11. Web.

Huh, J., Delorme, D., & Reid, L. (2016). A model of consumer response to over-the-counter drug advertising: Antecedents and influencing factors. Journal of Health Communication International Perspectives, 21(1), 109-117. Web.

Jalal, Z., Cox, A., Goel, N., Vaitha, N., King, K., & Ward, J. (2018). Communications skills in the pharmacy profession: A cross-sectional survey of UK registered pharmacists and pharmacy educators. Pharmacy, 6(4), 132.

Mullan, J., Weston, K., Bonney, A., Burns, P., Mullan, J., & Rudd, R. (2016). Consumer knowledge about over‐the‐counter NSAIDs: They don’t know what they don’t know. Australian and New Zealand Journal of Public Health, 41(2), 210-214. Web.

Petkova, V., Valchanova, V., Ibrahim, A., Nikolova, I., Benbasat, N., & Dimitrov, M. (2014). Marketing approaches for OTC analgesics in Bulgaria. Biotechnology, Biotechnological Equipment, 28(2), 360-365. Web.

Seubert, L., Whitelaw, K., Boeni, F., Hattingh, L., Watson, M., & Clifford, R. (2017). Barriers and facilitators for information exchange during over-the-counter consultations in community pharmacy: A focus group study. Pharmacy, 5(4), 65. Web.

Seubert, L., Whitelaw, K., Hattingh, L., Watson, M., & Clifford, R. (2018). Development of a theory-based intervention to enhance information exchange during over-the-counter consultations in community pharmacy. Pharmacy, 6(4), 117. Web.

White, W., Kloner, R., Angiolillo, D., & Davidson, M. (2018). Cardiorenal safety of OTC analgesics. Journal of Cardiovascular Pharmacology and Therapeutics, 23(2), 103-118. Web.

Wilbur, K., Xu, L., & Kempe, D. (2013). Correcting audience externalities in television advertising. Marketing Science, 32(6), 892-912. Web.

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