Cialis
Cialis
Cialis is an erectile dysfunction medication attempting to enter the market that is already dominated by Viagra. Viagra’s dominance in the market, along with Levitra’s entrance on the scene, it caused Lilly ICOS LLC to question how they should position Cialis with their unique capabilities. In order for Cialis to become successful in the market, they can either use a beat strategy, compete strategy, or niche strategy. Before implementing these solutions, a set of criteria is needed to determine which strategy would work best.
In order for managers to come up with solutions for their critical problems, they need to determine how to position their product and know their target market. They need to know their key messages and find mediums to reach their target market. Along with determining their solutions, managers should also identify criteria against which they can evaluate alternative solutions. Some criteria are: Is the target market large enough to be profitable? Is the market growing? Will the product position chosen negatively or positively affect our brand image in the long run? If a wrong turn is taken, repositioning can take up to 10 years (Hawkins, Motherbaugh, 2013). How long will it take to educate the target audience and turn them into consumers? ICOS has never brought a product to market before and Eli Lilly’s Prozac was expiring, they needed to see a return on investment soon. Will the solution give our company a sustainable advantage over the competition? The time and money investment for ad campaigns is great, $400 million and $600 million to bring a new drug to market (Bittar, 2001) Given these criteria are three alternative solutions that can be implemented.
Alternative1: In Cialis’ research study of patients in the United States and Europe, they found roughly half of all ED patients had not sought any treatment. Our recommendation is to use a beat strategy by targeting these patients, who fall between the ages of 50-75. To reach them,
Cialis is an erectile dysfunction medication attempting to enter the market that is already dominated by Viagra. Viagra’s dominance in the market, along with Levitra’s entrance on the scene, it caused Lilly ICOS LLC to question how they should position Cialis with their unique capabilities. In order for Cialis to become successful in the market, they can either use a beat strategy, compete strategy, or niche strategy. Before implementing these solutions, a set of criteria is needed to determine which strategy would work best.
In order for managers to come up with solutions for their critical problems, they need to determine how to position their product and know their target market. They need to know their key messages and find mediums to reach their target market. Along with determining their solutions, managers should also identify criteria against which they can evaluate alternative solutions. Some criteria are: Is the target market large enough to be profitable? Is the market growing? Will the product position chosen negatively or positively affect our brand image in the long run? If a wrong turn is taken, repositioning can take up to 10 years (Hawkins, Motherbaugh, 2013). How long will it take to educate the target audience and turn them into consumers? ICOS has never brought a product to market before and Eli Lilly’s Prozac was expiring, they needed to see a return on investment soon. Will the solution give our company a sustainable advantage over the competition? The time and money investment for ad campaigns is great, $400 million and $600 million to bring a new drug to market (Bittar, 2001) Given these criteria are three alternative solutions that can be implemented.
Alternative1: In Cialis’ research study of patients in the United States and Europe, they found roughly half of all ED patients had not sought any treatment. Our recommendation is to use a beat strategy by targeting these patients, who fall between the ages of 50-75. To reach them,