Scenario: A start-up company, Nalpak Pharmaceuticals is a United States of Ameri

Question

Scenario: A start-up company, Nalpak Pharmaceuticals is a United States of America (U.S.A.) pharmaceutical products firm that is growing very rapidly at home and abroad. Integrity and honesty regarding product quality and concern for consumer well-being are values of the founders of the firm. Recently Naplak Pharmaceuticals developed several new products to service customers who cannot afford the pricier life-saving anti-allergen medications and the self-injecting devices currently on the market. These products can be self-injected by the person suffering from a life-threatening allergic reaction and were just recently approved for the marketplace by the U. S. Food and Drug Administration. In order to respond to the projected rapid growth of the firm, they are going to be hiring an additional 100 employees in the next two months to cope with the demand for these new life-saving products. Because the company is hiring so many new employees, they are concerned with maintaining the founders’ original values while ensuring a quality product. They are also concerned with promoting and pricing these new products fairly, based on the company values and their concern for affordability for the middle-class in the U.S.A. and other consumers and client companies abroad. Address the items pertaining to the promotion and pricing strategy for the company’s new products in line with the company founders’ values. Checklist: Address the following promotion and pricing strategy items: 1. Specify what guidelines the company should institute to make sure that all personnel adhere to the founders’ values in promoting and pricing the product or services at home and abroad. 2. Provide an advertising campaign (using pioneering, competitive, or comparative advertising) for this line of life-threatening anti-allergen medications and self-injecting devices using 3 different types of advertising. 3. Provide a public relations strategy to promote the new product line. 4. Prepare 1 tool each for consumer sales promotion, personal selling, and social media. 5. Describe how the AIDA concept stages are to be addressed. 6. Explain 3 possible pricing strategies and any discounts, rebates trade discounts, and/or allowances that would apply for this new line of life-saving products. 7. Explain how you will determine a profit has been realized based on your pricing objectives. I only NEED answers #4-#7! Thank you :)

Explanation / Answer

As requested in the question, please find the answers for question 4 and 7 as below.

Answer: 4

The tool for consumer sales promotion, personal selling and social media are as below

Consumer Sale Promotion: The tool we need to adapt for consumer sales promotion in the target market is by using promotion techniques to improve the sales by promotion process. Following will be the promotion techniques as below

Advertisements Tool: The one of the effective tool for consumer sale promotion is to have advertisements in the target market so that consumers gets the basic awareness and get influenced by the advertisement and influence their buying decision for the products of Nalpak Pharmaceuticals. The advertisement process will be able to provide the suitable information of the products to the consumers. The information package will cover the quality benefits on the health, pricing and its availability in the market.

Personal Selling Tool: The suitable tool for personal selling is to have sales team who can be spread in the target market and they can explore the persona sale by selling the Nalpak products personally in the consumer market by the sales team. The sale team will be reaching to consumers and influencing consumers for the Nalpak products trying their best to sell this products to consumers.

Social Media Tool: the tool for social media is to use the whats-app or face-book tool of social media for adequate communication or advertisement of the Nalpak products and spread this communication or information among the people so that they will get the awareness of the Nalpak products and people will get influenced by this products and will result in the sale for the Nalpak products.

Answer 7:

Determination of profit realization based on our pricing objectives: The pricing will be worked out based on the financial capability and economic standards of the consumers in the target market. So pricing will be such that it should help the product sale and should have adverse impact on the product sale in the consumer market. When we sale the products, we need to ensure that the pricing is based on the costing model i.e. the pricing model will also consider the costing input and the management cost for the products so that finally the business unit gets the benefits and not in loss. Thus the profit realization will be based on the unit sale price – unit cost price. This needs to be review based on the annual volume, so that as a business we are able to achieve the target profit for the business. Thus the profit realization will be based on the projected sales and the project total cost for the products. This information will be helpful in understanding the

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