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Marketing an outdated medical product

Background:

The Pharmaceutical industry is known for being the front runners on creative ways to be able to market their products. Even to go as far as marketing an old technology as something new or as the presenter refers to it as reintroducing. These may be looked at as somewhat deceiving, yet these techniques when utilized properly become very successful. It is also explained that new therapies may not be as effective as older methods. In order to market or sale the old a certain amount of sales processes must take place. This video gives one system that seemed to work for this pharmaceutical sales manager.
The drug that was discussed is an Anti-Hypertensive/blood pressure lowering medication that was an older drug. The Marketers had to find a way to move older product in a market that liked to use the newest/sexiest products in order to remain successful. Looking for the niche was the key, finding where a product can be sold is usually the first question that any market professional should ask.
As it turned out with the newer products on the market they were designed for lesser forms of Hypertension or mild to moderate hypertension, however was less effect to Moderate to sever hypertension. In this situation doctors had to double and triple up medications to be able to get the blood pressure to go down. This created the problem of cost.
Once the niche that this older product could be sold in was identified the marketers then had use marketing techniques to identify the patients who fit into the category that this drug would make the most since. They used cost as the motivating factor and then created a simple guide for doctors to use to be able to quickly identify the proper patients for that medication.
Objectives:
Following my discussion, you will understand:
- Basic Business Marketing Strategies
- Have the knowledge and resources of marketing techniques in Pharmaceuticals
- Be aware of the marketing options
- Understand that finding a niche can make any product competitive
- Success can be found with old product with proper marketing.

Discussion:
The video discusses marketing techniques used to find a successful niche for an outdated or older pharmaceutical product using a cost comparison guide designed for the doctors.
Understanding the “Niche” uses of this drug is:
1. Designed for a specific group of patients based on their diagnosis.
2. Can be more effective with less prescribed medication
3. Can give significant cost savings by using one drug instead of many.
NOTE: Generally marketing a drug this way is an end direction for this drug and it is necessary to continually change marketing techniques or introduces a new product to compete.

Now it is clear that there really are ways to compete with an old product in a competitive environment by finding that products best fit “niche”
Other Common Situations for “Niche” Selling
This technique can be used for a multitude of products and success can be seen by “niche” selling any product regardless of market share to see expanded success.
Important Points
Understanding the competition’s place in the market is the key to finding the specific uncovered niche. This information is the key in marketing manager’s processes of making decisions on the direction to go with marketing efforts. In any competitive marketing situation a marketing manager must know who is out there and why. Are they covering a different niche or is there a short coming of that competitive product.
Summary:
Selling an old product in a competitive market place is possible if the right information is available to the market force. Having an unfulfilled “niche” is the key to getting an out of date product new teeth in such a market place. With proper information about the market, proper information about the market place and true understanding of your represented product a marketing professional can create a guide to help give that information to the end user for sales success. This case study talks specifically about pharmaceuticals but the concept can be used in most applicable situations of selling.

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