Market Facts Assessment
The conducted survey had given the significant indication that the government of Fiji had installed and structured some orderly coordinated effort to promote healthy life style to the citizens as its priority with support of Non-Government Organisation and Civil Society. Flush Normal Saline will be the product Government sector, private organisations and civil society group will be adamant to promote and clearly articulate the substantial information to parties interested in the product.
Although Flush Normal Saline is presented to the Fijian market, the significant information will be precipitated and made known the significant vital required product information in terms of its different product packages, contents and usage
The research has shown that every patient who attends the hospital at least use two or three Flush Normal Saline flasks every day but irrigation during operation is up to twelve average per day.
The known fact without dispute is there is no alternative product available for substitution of different product when the Flush Normal Saline is unavailable.
Therefore, Flush Normal Saline product in very single health facility has to be stocked in large quantities to give the life back to the people.
Sustainable Market Growth
To support the business model, the public health facilities establishment and currently functioning and serving entire Fiji population estimated to be two hundred and six health facilities in eastern, western and northern divisions. The patients visiting the these facilities and using the already available on the market products are known as costly that comes with high prices and many times the stock runs out. Even though there may be many private run health facilities in Fiji and in operation to serve patients but the price of pharmaceutical products excessively high whereby the Fijians to pay out of their pockets to be served.
It is evident on the National Health Expenditure 2011-2014 that there was perpetual spending on the public health sector every year. The reasons more obvious are increasing population growth, more life style diseases patients increasing due to climate change, habitual consumption of especially fat and sugar containing food. The number will increase as it happens in other developing nation like Fiji and it is graphically illustrated on Figure 2.
Figure 2: Fiji Government Budget Health Spending from 2011-2014
Therefore, the market climate for Flush Normal Saline products substantially evidence becoming confidence to investment in Fiji. Its economic condition also speaks volume and its a very idle country for boosting the growth of the business. As the population trend continues to grow and at the same time the processed food and consumption behavior of people changed very fast due to exposure to the changing adaption.
It is assessed and concluded that there are many anticipating opportunities for investment in Flush Normal Saline industry. More careful consideration and advocating in terms of adapting a culture of involving people to understand the concepts of promoting and inspiring to live the healthier lifestyle and at the same time making policy makers aware of the benefits that will be brought forth when the product will be readily manufactured and made available on the market. The said opportunities arises from but no boundaries to:
More than 90% population of Fiji do visit hospital to seek treatment
More than 56% get admitted at the hospital who are one way or other put of drip fluid Flush Normal Saline (Sodium Chloride 0.9%) products
Studies conducted showed that around tremendous amount of Normal Saline consumed every year worth millions of dollars
All Normal Saline used in the health facilities are imported from other countries
There is need for the new Normal Saline products facility establishment is imminent
The Restrictive Barriers of Entry
The foreign investors to come and advance in the country has to go through whole process and procedures available and it involves a lot of cost. The high cost are tag on compulsory permits or licenses. Therefore, there has to be a partnership business with Fijian citizen to have access to big market at the lower cost of startup and production costs.
The Product Targeted Audience
The Flush Normal Saline products will start its anticipated production operation in Valelevu, Suva, Fiji. The population will be using this very important and life serving medical product when they visit the hospital whether private or public. The targeted customers are National Government through the Ministry of Health Fiji and Private Pharmaceutical companies for their health facilities to be used to treat patients and customers respectively. These two sectors are going to be the major procuring agents of Flush Normal Saline Fijian Product made available in Fiji using its abundance resources available everywhere in the country. After the satisfying Fijians with their demand, then may open up the market to other Pacific countries as the Fijian Product.
The imported Normal Saline already available in the market will be only competitor but the Flush Normal Saline products will come up with its price reduced at the affordable rate, quality of the product, easy to access at any time when there is disasters and the product is Fijian Made. The advantage is the Government will be procuring at the reduced price in large quantities to meet the demand exerted by the patients.
Product Market Strategy
The Flush Normal Saline marketing plan will definitely give a sense of ownership and value of money to the Government and Private sectors as a customers to motivate by installing encouragement and product promotion through promoting healthy population to build the nation.
Figure 3: The Customer Values
Target market selection to really identify the customers who are going to become consumers were characterized during the strategic planning phase and that gave significant enough evidence to divide the market into different categories according to their descriptors and they are known as below:
Distribution: The grouping customers based on where they go to purchase your product, such as online, store or through a catalog.
Psychographic: The classification of customers into their respective social statutes, life style, cultural clusters and personality types
Demographic: The grouping customers by age, income level, gender, family size, religion, race, nationality, language, etc.
Behavioral: the grouping customers by product usage. For example; light, medium or heavy users. This stage also factors in brand loyalty and the type of user.
Decision Makers: Putting the customers in a group to know exactly who has decided to purchase the product in the markets within the company structure.
Geographic: Classifying customers into groups in the areas like regions, state, urban rural and etc.
The Flush Normal Saline is the brand name used for marketing the unique product and acquired the patent rights with trade mark and its own logo. It will be published on all social and other electronic and printing medias to make people aware of the product brand name and display the image of the business in new market. In that way the customer confidences on the product will bring the feeling of ownership and satisfaction when using their Fijian made pharmaceutical product at the first time in history of the country. The brand awareness for all our different product under same broad name will be made available to all Public health facilities, Private health Facilities and Pharmaceutical companies at the reduced price and deliver them free to their location of operation. That will statically place the product on better spot to compete with imported products.
The intention of Flush Normal Saline is to target the customers as they will be very much interested to trying out new products introduced to the market. The more informed decision will be made when ones who are capable of making an impact feel the great satisfaction of the product usage and prompted to purchase through the choices. That will further motivate others who come to understand the wonderful and amazing Fijian made convincing product. The team made up of Flush Normal Saline tactic team will engage public at large through available media awareness broadcasting on radio programs, televisions, adverstiment on daily newspapers and advertising on Instagram and Facebook and providing samples to all the Ministry of Health and Private companies and Pharmaceutical companies.
To come up with correct price setting become one of the trickiest from all other market decision making because many factors such as product cost (manufacturing, product development, logistics, promotion, adverting and etc) determine final product price after profit margin is expected from. The three major price strategies will be used and they are market penetration pricing, neutral pricing and market skimming pricing. Since Flush Normal is going to be manufactured in this country, its price, quality and different size of packages will suit the clients at the lowest price apart from competitors in the market in Fiji.
The Flush Normal Saline brand addresses the human needs, by doing so hold them in the hearts and minds in terms of uniqueness of identity of our product and that leads with reputable popularity and preferred by the customer at the lowest price.
The manufacture of Flush Normal Saline will be linking up with middleman or to the contractor such as National Health Department to distribute them to their public health facilities or to private pharmaceutical companies and other organisations to resale them and to distribute to their clients respectively.
The special pricing strategy will be mostly executed in the promotion of the Flush Normal Saline. The strategy will definitely within a short period of time interval change a price.
Promotion decision can be implemented by executing in this order, setting objectives, determining promotion budget, target the market, the appeal and promotion mix.
All different products Nasal Spray, Nasal Wash, Nebulizer Solution Wash, Intravenous Solution and Irrigation Solutions produced out from Flush Normal Saline will undergo the above market decisions.
The skillful and experienced people employed to target both marketers and people who directly become potential customers to business. The underlining market surveys established prior to starting business showed that there are enough population on the target market that are really demand for the product.
The product will directly sold to National Health Department to feed the Public Health Facilities, Private Hospitals and Clinics, the Private Pharmaceutical Companies by the employees of the company. The organisation will hire and train more people to deliver our superior goods to the customers.
The genuine people in the executive level in the health sector whether government or private. Believing the product Flush Normal Saline will have internal competitive advantage as it is the locally manufactured product and that pave the way for the business to automatically create increase in demand at the markets. Its most highly recommended that employees of the business carry on work with their skills and abilities.
Additionally, more open honest feedback about the business will be used to improve business with great thoughts and passion that may scale and promote growth.
IV solutions: Flush Normal Saline every time used as intravenous solution
Wound care: The patients with wounds on their skin are cleaned with flush normal saline
Nasal irrigation the patients suffering from cold an flue are treated by using flush normal saline to treat it dry
Nebulizing Asthma us the flush normal saline to nebulize the asthmatic patients