Helping Make Hair Loss History Essay

Define Propecia’s potential customer base. What is Propecia competing against in the consumer’s mind? What can be learned from Rogaine’s experience in the marketplace? Propecia is a drug against hair loss, effective both on stopping and reversing the Male Pattern Hair Loss. According to Tom Casola, the brand manager of Propecia, the potential customer base is at least half of the male population, as MPHL occured in 30-40 million American men, which is around 50% od Caucasian men under the age of 50, with the lifetime incidence to reach 100%. But when compared to others race and nationalities. Neither black men, Japanese men nor Chinese men were as likely to develop MPHL as frequantly as Caucasian men, at least not until later ages. What Propecia is competing against in consumer’s mind is that, according to the research Merck did, consumers believe hair loss to be a slow process and they do not seek treatment early enough, at least not before trying a couple remedies of their own including brushing, wearinh hats, combing the hari over bold spots, which is mainly because they are not fully aware of the degree of their hair loss, as it is most likeley happening at the back or top of their head. Although 2/3 of men losing hair consider of it to be a problem, half of those consider it to be a futre problem, and the remaining 1/3 does not even consider it to be a problem. The consideration of this problem to be a future problem, or an inevitable problem, builds kind of a resistance in terms of the willingness to fight it. And Merck needs to focus on showing that it is a current problem and not a future problem and shoudl be addressed as soon as possible, in order to have success over it, and making it not inevitable. Rogaine, a topical including minoxidil, affective against hair loss, as long as used, was the frst FDA approved topical hair loss intervention, which was not successful as a prescribed medicine despite the belief of its potential success in revenue, until it became an on-the-counter product. What Propecia can learn from Rogaine is that, the product should be very careful with the creation of consumer expectations, because if it fails to keep up to those expectations, it can end up like the first launch experience of Rogaine, not coming even close to the expected revenue levels. Although it would not be easy to set the right level of consumer expectation, lowering expectations should be blaned with also creating a positive hop efor the product in the eyes of consumers. 2. How does a customer come to use Propecia? How can Merck best influence that process? Because hair loss is not conceived by physicians to be an urgernt problem, consumers should be directed in terms of marketing in order for them to use Propecia. As mentioned earlier, hair loss is a common problem for most of the men and a remedy is needed not because it is an urgent or a fatal problem but for improving the lives of those people, which is one of the objectives of Merck. According to past experience of Merch with other products, especially those it advertised through direct-to-consumer advertising, which it plans to do for propecia, consumers who asked their physician for an advertised drug, receieved a presciription for it (75%-85% of the the patients). 3. What type of ads, if any, should Tom Casola run at product launch? What message should Propecia convey to potential customers? It is a pretty tough decision to make, choosing one of the three add types. Help Seeking ads would have a negative affect mostly because the ads should be brandless, but the launch is at similar times with the extra strength formula Rogain’s launch time, and as the brand awareness of Rogaine is high, our ads would benefit them more than it would Propecia. On the other hand, product claim ads, although seems like a sound decision to go with, has a high potential risk, becase the side affects are to be mentioned in the ad, and creation of a brand awareness assosicated with seemingly high risks of sexual side effects for men and pregnancy problems for women, it would not be a good timing for highlingting these side effects, where the competition is coming with a more effective product compared to the strong product already dominating the market at some level, with not necessarily this kind of serious side effects, although they are not high risks. Third option of reminder ads, which do not seem to be the best strategy at any other given time, as mentioned by Casola, there is no point in having an ad that creates brand awareness where you cannot even tell that the product is an hair loss product, at this time it seems like the soundest road to take. There is a risk that the brand awareness would be empty inside, but along with working with doctors, mostly dematologists who would be more eager to prescribe Propecia, and urging people to see a dermatologists in the ads, would be the best of the options. This way, making the problem a health issue, which should be handled through a dematologists would create some sort of barriers for the on-the-counter competition especially the new Rogaine to come. 4. What role does a physician play in this context? How much detailing effort is necessary? Pysicians are primarly the customers of prescribed drugs, as they are the ones prescribing the drugs to the patients, the realt consumers. In order for the making the pysicians to prescribe the intended drugs, pharmaceutical companies have sales representatives, who directly go to the physicians and describe the drug, which is called detailing. According to the data given in the case, the potential face-to-face interaction between a sales representative and a physician is about 2 minutes, where the sales representative is supposed to do detailing of 3 drugs. In order to have an effective detailing to persuade pysicians to proescribe the intended drug almost 6 visits on average paid to the pysician. 5. Do you think a first year sales forecast of $60 million would be conservative or optimistic? First of all we need to consider that the potential hair loss markets accounts for about $1. 5 billion of annual sales. Half of the market is hair loss surgery and the rest is divided between mechanical and topical solutions. In order to forecast a $60 million sales a year, Propecia needs 100. 000 customers who spent $50 per month. When we compare this to the unsuccessful lounge of Rogaine, as a prescribed drug, costing $60 per month, it created 400. 000 customers and generated $100 million sales. So compared to this with the knowledge that being scientifically proven- at least among a majority of the clinical trials- and having a better success potential than Rogaine, even on the eve of Rogaine more effective product coming, it is conservative to think Propecia would reach $60 million sales forecast for the first year.

Performance Management Essay Example | Topics and Well Written Essays - 3500 words

Performance Management - Essay Example Performance Management, therefore, combines various management methods that support each other in striving for improved performance in organisations. The concept of performance management and the debate over the effectiveness of performance management programmes have been of interest among human resource professionals for many years (Lawler & McDermott, 2003). As organisations seek ways to improve their competitive edge while maintaining or cutting budgets they are looking towards their human resources to provide more value for money. Performance management is seen as a key element for success in today's increasingly competitive environment (Anonymous, 2001). Indeed, a review of its theoretical foundations indicates that performance management should achieve the stated and, while there is empirical evidence to that effect, the fact remains that its implementation is problematic. Performance Management, as a management method, has three major components, each of which is based on management theories. The first component is strategic planning, involving short and long term goals and objectives, as well as defining the mission and future vision of an organisation and each of its divisions. The second component has to do with constant measurement of variables from the various parts of an organisation. The third component is feedback. The use of teamwork is emphasized in all three major components of Performance Management. The Goal Setting Theory, Total Quality Management (TQM), Reinforcement Theory, and Job Characteristic Theory are used as theoretical bases for Performance Management. The main emphasis in Performance Management is on direction, measures and feedback, to redirect and/or celebrate. Goal setting provides an important basis for management methods, such as strategic planning. Workers must know exactly what results are expected from them and receiv e feedback on actual results which are based on measurements. Strategic planning involving goal setting, both long term and short term, a plan of how to reach the goals, measurement, and feedback are the main factors in Performance Management. Proceeding from the above stated, it appears that the management theories in which Performance Management is grounded, predefine it as a successful approach to managing an organisation's workforce towards greater productivity. While numerous scholars have tended towards this opinion, the fact remains that Performance Management is a topic of controversy. If one is to objectively evaluate Performance Management, it is necessary to review the criticisms which surround it. 3 The Dilemmas of Performance Management In spite of frequently cited problems with traditional, standard performance measurement systems, most companies continue to rely upon them so this practice continues to be vital to organisations. Research at the Center for Effective Organisations suggests that performance appraisal represents the key element in the overall human resource management of an organisation (Mohrman, 1990). The judgments of

McDonald's Essay Example | Topics and Well Written Essays - 750 words

McDonald's - Essay Example McDonald’s is been considered as the world’s largest and the top fast food company.McDonald’s has created a history in the field of restaurant business.There are few factors which are very much important to help the brand to be evaluated as the greatest brand ever; McDonald’s. The outstanding services, high quality food, great maintenance of hygiene within the restaurants and obviously the remarkable customer services and great pricing strategy have made them the best. However, there are some positive point and some negative points about the McDonald’s this paper will evaluate the McDonald’s according to those facts. Evaluation of the pricing strategy: The pricing is very much important. McDonald’s has always adopted the penetration pricing strategy. And that is the reason it is the largest seller of the fast foods in the world. The combo happy meal price is only $ 3.59 to $ 4.5, which is very much competitive and the individual price for the baked patties burger would be only $ 1.09-2, the mash potatoes at $ 1.50-2 and the smoothies at $ 2.29-3. The interesting part is the combo gives a saving of $1.29 with respect to the individual items if they are bought all by any customer. This pricing strategy would definitely help the new product to penetrate the market easily. Price discrimination is a great factor for the McDonald’s. From the personal experiences it has been seen that there are many customers who are teenagers, McDonald’s must think about these loyal customers as they could be the future customers for the developed market. The disposable incomes of these young souls are not too high and that is the reason the individual pricing of the single products are required. Happy meal is for the families but not for the teenagers who prefer to have the Mac-Chicken Burger instead of the happy meal for the short budget. The evaluation of the brand identity: Previously McDonald’s brand identitie s were the red and white brick wall and the two golden arches but later it changed. Somehow the red and white theme remained the same but the two arches got the new look with more shiny arch which looks like a huge golden arch. And later the iconic Ronald came into action. Ronald can be treated as the brand’s mascot. The evaluation of the brand image of the McDonald’s does highly depend on the Ronald McDonald’s personality. For a personal experience is can be said that the Ronald is one of the most favorite superficial cartoon character among the kids and many new kids want to go to the McDonald’s to see Mr Ronald. The supportive promotions of the McDonald’s: The promotion is the energy of the McDonald’s which kept on giving them the fuel to run for the achievements. Most of the time, McDonald’s does in-store promotions. There are many cartoon characters that are there in the store to entertain the kids. The playing and eating facilit y give the extra attraction to the kids. Advertising was always an option for McDonald’s but eventually it was a big hit even before it appeared in the National Television advertisement. Most of the advertisements of McDonald’s have been concentrated on the personality called Ronald McDonald. However, in the recent time they had to change their advertising tactics in some of the countries where food is most important than that of the celebrated character. But still in each and every country Ronald is been a huge hit and brand recall factor. In most of the cases McDonald’s is very much selective in case of choosing the channel and the timing of the ad to be showed. Evaluation of the customer support: The customer support has been a great achievement for the McDonald’s. From the earlier time while it was concentrating it drive through restaurants it inculcated the art of serving customers in a short time with great quality. However, in a restaurant sometime it takes time to deliver and that is the reason the McDonald’s has put up many things inside the restaurant to get entertained with. The home

GE Global Coursework Example | Topics and Well Written Essays - 1750 words

GE Global - Coursework Example Though, the competitive advantage is tangible and many aspects of competitive advantage can be evaluated easily. In addition, competitive edge is the most important gauge for a business environment. Moreover, it is a significant aspect to maintain and achieve organizational success (Pietersen, 2012; Turban, Leidner, McLean, & Wetherbe, 2005). This paper outlines some of the major areas and aspects of GE Global Research Corporation for the assessment of its innovative capabilities. This paper also discusses that how this organization can achieve distinctive competence in the area of innovation. The basic aim of this research is to determine â€Å"how the company has bundled its technology resources to contribute to competitive advantage in its businesses. GE Global Research: An Overview GE Global Research is one of the world leading industrial research and analytical centers, which offers ground-breaking technology for all GE’s businesses. ... n is located in Niskayuna and New York along with three other corporate management and organizing multidisciplinary facilities in Shanghai (China), Bangalore (India) and Munich (Germany). Moreover, more than 2800 researchers are working at GE Global Research Corporation, with the purpose of bringing the next technological advancements that will transform the environment of GE businesses. Furthermore, GE Global Research Corporation possess a wide-ranging set of technology expertise varying from biosciences to computing, electronics to chemistry, materials to imaging, metallurgy to fluid mechanics and everything in between (General Electric Company, 2012). GE’s Deployment of Resources Attaining a competitive edge over other competitors and distinctive position in market and improving corporate performance in relation to their competitors are the major objectives that GE business especially wants to achieve. In this scenario, the competitive edge is an idea that turns out to be a main research area as far as strategic management is concerned. In order to strive successfully, organizational polices either locally or globally and standards must meet a long run policy as compared to policy formulation for a short term. Although this task is not simple to perform, in fact it requires ample efficiency, detailed overview or regulations and comprehensive analysis of policies. Thus, in an attempt to compete and maintain effectively, locally and internationally, GE businesses should not simply do extremely well in their area but as well continue in the long run. However, the accomplishment of such a â€Å"ground breaking and sustainable competitive advantage† and market position is not a possible without an appropriate road map or policy implementation. In addition, the

Strategic management Essay Example | Topics and Well Written Essays - 1000 words

Strategic management - Essay Example Strategic analysis of Johnston Press Plc business enviroment using PESTLE and SWOT analysis; PESTLE Political. Besley (2008) emphasized the company’s political environment is stable. The United Kingdom government is one of the most stable and easily predictable governments in the world today. Economic. Economically, the year 2010 is characterized by retrenchment. The company’s Limerick plant at Leader Print Ltd has finally closed shop after several years of trying to keep its revenues higher than the company’s daily operating expenses. Social. Gibson sings (2010) The company has been in the forefront of the United Kingdom society. The society has been used to reading the news from the Johnston Press printing plants for several years. In fact, Johnston Press is the second largest printing company in the United Kingdom today. Technological. The company has incorporated digital advertising as one of its biggest revenue generators. Digital advertising and publishing has many advantages. One such advantage is the company’s borderless sales probabilities. Clients from any part of the world can visit the company’s website and patronise the company’s publishing and other related services. Legal. The company has been complying with all the employments laws, work-related laws and other statutes. Environmental. The company continues to adhere to the environmental laws of the United Kingdom. The company does not pollute the country’s pristine rivers with its printing company’s waste products. SWOT Strengths. Johnston, (2010) reiterated during 2010, advertising categories and geographic market segments have performed profitably well. Property advertising has bounced back to a 9.5 percent growth from the 2009 accounting period’s property advertising debacle. Consequently, house sales have started to increase as compared to the 2009 house sales. Understandably, the 2009 low house was had been triggered by the Unit ed States-based financial crisis. Further, cost reduction that included a reduction from 5,640 heads to only 5,417 heads, has augmented the company’s profitability ratio. The company’s single editing process has increase production performance. The company’s newspaper titles include Batley News, Halifax Courier, Glasgow South and Eastwood Extra, Carrick Gazette, and Isle of Man Courier. Weaknesses. Johnston (2010) emphasized the company’s print advertising industry is been set to second place. The Johnston Plc’s print advertising has been losing to the new and innovative digital advertising market segment. The economic debacle has cut the company’s advertising revenue by a significant percentage. Opportunities. Johnston (2010) explained the company should focus on increasing digital sales performance, the internet and computer technology has metamorphosed the printing business into the digital age. In fact, the company’s digital sales growth had increased by ten percent during 2010 when compared to the digital sales growth in 2009. The company should increase its focus on selling of its display inventories. The early part of 2010 shows a slow but sure recovery from the debilitating crunch of the prior year’s unprofitable economic depression. Threats. Johnston (2010) theorized the lack of any influential increase in the economic activity in the Republic of Ireland threatens the company’s plans to increase it overall sales performance. Using Porter's five forces

Project Plan Audit Coursework Example | Topics and Well Written Essays - 500 words

Project Plan Audit - Coursework Example The hiring process will be based on merit with each category listing the minimum education attainment. Some of the personnel required will be engineers and human resource manager. A basic degree and ten years of experience is the same field will be a requisite in the top tasks. Besides the human capital, California Technical Corporation will require capital resources. The project manager and the team leader are tasked in identifying the resources that will be needed. A procurement process will be done to avail the resources. A request for information will be sent to the prospective suppliers to provide the information which the management will vet to award the tenders. Planning is a key issue in any project. The resources both capital and human are expected that will be available within the set time frame to avoid delays. In case of hitches in terms of personnel, there are alternatives that have been established so as to ensure the project goes as planned. Making a prototype of a Scale 7/8 rocket is a priority of CLC and this will provide a feasibly data of making an full

Ethics and Apprehend Criminals Research Paper Example | Topics and Well Written Essays - 1000 words

Ethics and Apprehend Criminals - Research Paper Example On the first argument, the fruit of the forbidden tree doctrine, also known as the exclusionary rule, states that â€Å"not only is the Government precluded from basing a conviction on illegally obtained evidence, but also is forbidden any use of evidence derived solely from the product of the unlawful search and seizure.† (Bartlett, 1967: 251). A usual example of this is confessions extracted through torture. An accused in custody who was subjected to water treatment or psychological duress in order to extract and admission that he committed the crime, when he is subsequently brought to court to be tried, his confession cannot be used to evidence his guilt. It can, however, be used to prove irregularity in his arrest and custody. These are â€Å"procedural safeguards† (Brandsdorfer, 1987: 1082) designed to ensure that constitutional precepts are followed and that a fair trial will be given to the accused. Indeed, even the right of the accused to be given a Miranda warn ing is of such a high value that failure of the policemen to comply with this renders the arrest irregular. No doubt, if the police officer decides to violate the law and ignore the rules on arrest and custody, the courts will afterwards use it to acquit the accused, even though he or she may be guilty of the crime charged. A very powerful criminal who can hire the best lawyers, for example, will be exculpated from the crime and violance he committed because the police officers were careless in the application of the rules. At the end of the day, this renders law enforcement and the criminal justice system inutile in the apprehension of criminals. â€Å"Outrageous Government Conduct† The jurisprudence surrounding entrapment and outrageous government conduct as valid defenses in a criminal prosecution remains to be much discussed, and the debates on whether and when these defenses may be employed remain to be the subject of much debate and controversy. The need to balance the demands of law and order, on the one hand, and the rights of the accused to due process on the other, is the central dilemma that undergirds the debate. The notion that behavior of state agents that â€Å"shocks the conscience† could constitute a violation of the right to due process of the accused and consequently, could secure the dismissal of the charges against him was first laid down in the case of Rochin v. California [342 us 165 (1952)]. In that particular case, the officers forcibly induced the accused to vomit capsules that they believed to be containing drugs.