Forxiga-Integrated marketing & communication analysis and recommendations to increase brand awareness and brand association

HO CHI MINH CITY OPEN UNIVERSITY UNIVERSITÉ LIBRE DE BRUXELLES

SOLVAY BRUSSELS SCHOOL OF

ECONOMICS & MANAGEMENT

MMCoM9

NGUYEN THI THANH PHUONG

TRAN BOI DUNG

FORXIGA- INTEGRATED MARKETING &

COMMUNICATION ANALYSIS AND

RECOMMENDATIONS TO INCREASE

BRAND AWARENESS AND BRAND

ASSOCIATION

MASTER FINAL PROJECT

MASTER IN MARKETING AND COMMUNICATION MANAGEMENT

Ho Chi Minh City

(2016)

i

STATEMENT OF AUTHENTICATION

We, Tran Boi Dung and Nguyen Thi Thanh Phuong commit that we have done this

project by ourselves based on the information collected from the public and

ASTRAZENECA VIETNAM’s sources.

This paper is designed only for the academic purpose of the completion of our Master in

Marketing and Communication. It is not expected for any other uses.

ii

ACKNOWLEDGEMENTS

We would like to express our deep gratitude to Mr. Nguyen Le Thai Hoa for his first

guideline of the structure of this project.

Dr. Van Thi Hong Loan deserves a special note of thanks for her comments, advices and

approval on this paper.

We are indebted to Mr. Nguyen Tien Chau and his staffs in AstraZeneca Vietnam for

their continued encouragements and useful documents.

Finally, we must express our deep appreciation to all of my colleagues, friends, and our

familys, who always give us their support throughout.

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ACADEMIC TUTOR AND PRACTICAL TUTOR’S COMMENTS &

APPROVAL SIGNATURE

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TABLE OF CONTENT

STATEMENT OF AUTHENTICATION......................................................................................i.

ACKNOWLEDGMENT ..................................................................................................................ii

LIST OF CHART ............................................................................................................................vii

LIST OF TABLE .............................................................................................................................viii

LIST OF FIGURE. ...........................................................................................................................ix

LIST OF ABBREVIATION.............................................................................................................x

GROSSARY .....................................................................................................................................xi

1. CHAPTER 1: INTRODUCTION............................................................................................. 3

1.1. Over view about Vietnam pharmaceutical market & Oral Antidiabetic

Medication market……………………………………………………………. 3

1.1.1 Vietnam pharmaceutical growth and size ................................................ 3

1.1.2 Vietnam Oral Antidiabetic Medication market growth and share ........... 3

1.1.3 Key player in Vietnam ODA market ....................................................... 4

1.1.4 Diabetes epidemiology............................................................................. 5

1.1.5 The unmet needs in diabetic management............................................... 5

1.2. Overview about Astra Zeneca and Forxiga..................................................... 6

1.2.1 Overview about Astra Zeneca.................................................................. 6

1.2.2 Overview about Forxiga .......................................................................... 9

1.2.2.1 Product ................................................................................... 9

1.2.2.2 Price .......................................................................................12

1.2.2.3 Place.......................................................................................12

1.2.2.4 Promotion...............................................................................13

1.3 Problem statement .............................................................................................15

1.4 Project Objective................................................................................................16

1.5 Methodology .......................................................................................................16

1.5.1 Secondary research……………………………………………………...16

1.5.2 Primary research………………………………………………………...17

CHAPTER 2: LITERATURE REVIEW ......................................................................................19

2.1 Brand and Brand Equity.........................................................................................19

2.1.1 Definition of Brand........................................................................................19

2.1.2 Brand Equity ..................................................................................................19

2.1.2.1 Definition of brand equity......................................................19

2.1.2.2 Conceptualizations of Consumer based brand equity............20

2.2 Brand awareness......................................................................................................20

2.2.1 Definition of brand awareness.......................................................................20

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2.2.2 Measuring brand awareness...........................................................................21

2.3 Brand association.....................................................................................................22

2.3.1 Definition of brand association......................................................................22

2.3.2 Aaker’s categorization of brand association ..................................................22

2.3.3 Brand association’s role in creating equity....................................................23

2.3.4 Measuring brand association..........................................................................25

2.4 Integrated Marketing communication...................................................................25

2.4.1 Definition of integrated marketing communication.......................................25

2.4.2 The marketing Communication mix ..............................................................27

2.4.3 The marketing communication process.........................................................27

2.4.3.1 The communication process Kotler .......................................28

2.4.3.2 Steps in developing effective marketing communication......29

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3 CHAPTER 3: RESEARCH RESULTS AND CRITICAL ANALYSIS ............................ 30

3.1 Problem identification ....................................................................................... 30

3.1.1 FORXIGA sale performance analysis ..................................................... 30

3.1.2 FORXIGA sale analysis conclusion ........................................................ 34

3.2 Problem analysis ................................................................................................ 35

3.2.1 FORXIGA brand awareness analysis ...................................................... 35

3.2.2 FORXIGA brand association analysis..................................................... 37

3.2.3 FORXIGA communication process analysis........................................... 38

3.2.4 FORXIGA marketing and communication analysis................................ 40

3.3 Conclusion from market research result analysis and analyses FORXIGA

Marketing Communication........................................................................................ 42

3.4 Macro analysis.................................................................................................... 43

3.5 FORXIGA’s competitors analysis.................................................................... 44

3.6 The unique selling point of FORXIGA ............................................................ 45

3.6.1 Compare to other medication in SGLT2i classes .................................... 45

3.6.2 Compare to medication in different class ................................................ 45

3.7 FORXIGA SWOT analysis............................................................................... 45

3.7.1 Strengths .................................................................................................. 46

3.7.2 Weaknesses.............................................................................................. 46

3.7.3 Opportunities............................................................................................ 46

3.7.4 Threats...................................................................................................... 47

4 CHAPTER 4: CONCLUSIONS AND RECOMMENDATIONS.......................................... 48

4.1 Conclusion .......................................................................................................... 48

4.2 Recommendations for FORXIGA.................................................................... 49

4.3 Integrated Marketing communication plan for FORXIGA in 2016. ............ 50

4.3.1 FORXIGA Target audience. .................................................................... 50

4.3.2 FORXIGA Marketing Communication Objective................................... 51

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4.3.3 FORXIGA Communication messages..................................................... 51

4.3.4 FORXIGA Marketing communication mix............................................. 52

4.3.4.1 Personal selling. ........................................................................... 52

4.3.4.2 Seminar, Scientific meeting......................................................... 52

4.3.4.3 Advertising................................................................................... 55

4.3.4.4 Worth of month Marketing. ......................................................... 56

4.3.4.5 Public relationship. ...................................................................... 57

4.3.5 Budget allocate......................................................................................... 58

4.3.6 Timeline ................................................................................................... 59

4.3.7 Measurement and feedback...................................................................... 59

REFERENCE............................................................................................................................. 60

APPENDIX 1.............................................................................................................................. 61

APPENDIX 2.............................................................................................................................. 69

APPENDIX 3.............................................................................................................................. 70

APPENDIX 4.............................................................................................................................. 71

APPENDIX 5.............................................................................................................................. 74

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LIST OF CHART

Chart 1.1: Market value of Brand-name drug vs Generic drug in antidiabetic market.......................4

Chart 1.2: Leading corporations in Vietnam pharmaceutical market.................................................7

Chart 1.3: Leading corporations in Vietnam pharmaceutical market – Ethical sector.......................7

Chart 1.4: FORXIGA sale performance 5 months after launching .................................................15

Chart 3.1: The sale performance of FORXIGA 5 month after launching Compare with Januvia ...30

Chart 3.2: FORXIGA channel sale overview ...................................................................................32

Chart 3.4: FORXIGA Private hospital sale over view 5 month after...............................................33

Chart 3.5: FORXIGA Government hospital sale over view 5 months.............................................34

Chart 3.6: The brand awareness of FORXIGA and other DPP4i brands .........................................35

Chart 3.7: The familiar of Doctor to type 2 diabetes drugs..............................................................36

Chart 3.8: The important of treatment objectives in type 2 diabetes management ..........................37

Chart 3.9: The perceptions of Doctor toward FORXIGA advantage and disadvantage...................38

Chart 3.10: The key messages that FOXIGA MR use to delivery to doctors...................................39

Chart 4.1: FORXIGA marketing communication budget allocate ...................................................58

Chart 6.1: Market value and market share of Vietnam OAD market 2011-2015.............................74

Chart 6.2: Vietnam OAD market overview in value ........................................................................75

Chart 6.3: Vietnam OAD market overview in unit...........................................................................75

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LIST OF TABLE

Table 1.1: Total Market sales (2014 – 2019) ......................................................................................3

Table 3.1: Summary of FORXIGA marketing activities since 2014 – 2015 ....................................40

Table 4.1: Key messages for FORXIGA based on target patients....................................................52