Product Manager’s Dilemma free essay sample

Background Information: The case is about the dilemma of a product manager of a pharmaceutical company, regarding the name of a new product that has failed to capture the market as expected. The case talks about brand extension of an existing brand which has a strong customer base in the field of neurology. It is named after the core brand so that it could enjoy a good brand recall. After completing the market research, the teaser campaign is started to attract the target segment i. e. gynecologists. Other marketing strategies including scientific detailing and attractive starter packs are also followed.To treat certain rare neurological disorders, the product is also marketed to neurologists and physicians. However, despite all the efforts, the sales of the new drug fail to take off. Root problem: The root cause of the problem is the wrong brand name chosen for the new product Analysis: For any newly launched drug to be successful, it has to have an apt brand name which is easy to remember. We will write a custom essay sample on Product Manager’s Dilemma or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It should either be related to patient group it is meant for, or it should have any association with the indication for which it is used, or it’s name should be similar to its composition.Even if the name doesn’t have any relation with all of them, it can still work if it is unique or catchy. However, X-Neuro Plus didn’t have any of the above mentioned features. Hence, it failed to be in the minds of doctors upon whom the actual success of the drug depended. If a drug is used at a very special period of one’s life, then it should not have any negative connotations attached to it. It should sound something delicate and pleasant. X-Neuro Plus was very strongly associated with its core brand- X Neuro, and that had very strong positioning in the field of neurological disorders.This association had a negative influence on the brand extension especially when the drug was to be used during pregnancy. The competing brands had very well named their brand in close association with the purpose. So, they captured much of the market share. While deciding for the launch of a new product, I think that interaction with stakeholders is a must. The requirement in this case included customer interaction (Interaction with doctors), interaction with sales managers and drug retailers. They are the ones who affect the number of sales.The doctors prescribed the drug, sales managers made it available in the market and took the feedback; the drug retailer sold it to the consumer. For the doctors to prescribe any new drug, brand name acceptance is very important. So discussing the same with them before taking any major decision would definitely have helped the brand. Apart from the brand name and customer interaction, the case also helps us in understanding the constraints faced by a product manager in continuing with existing name or re-naming a pharmaceutical product in the market.