North east china is famous for its Ginseng, Glossy Ganoderma and longevity herbs. Ginseng has been praised as the main component among hundreds of traditional Chinese medicines. Glossy ganoderma has been highly praised as the solution to bring the dying back to life, while the longevity herb has been commended for treatment of impotence and sterility since ancient times. These ancient herbs have been widely used by the pharmaceutical industry in china. Ganoderma extract is the concentrated essence from the red mushroom, also known as ganoderma lucidum. It is loaded with incredible healing properties acknowledged in ancient Chinese herbal classics. The ganoderma extract in many cases is infused in tea and coffee drinks which have therapeutic benefits and increase energy in the body. The ganoderma extract can be taken alongside other prescription medications as they contain no side effects. The benefits accompanied by the above product are extensive and may be used to cure and treat diseases ranging from prevention of cancer to the reduction of high blood pressure. By incorporating this ingredient into the drugs creates a competitive edge among other companies in the same platform. It is estimated that the pharmaceutical industry sales in 2008 was $82 billion with medical device sales in 2005 at $22 billion, rating at the 10 percent circle of the world’s healthcare market. In the next financial year pharmaceutical sales are projected to reach $84-$88 billion while medical device sales to $24 billion. National Health Insurance (NHI) price revisions and alterations in the healthcare system notwithstanding, Japan’s medical market are expected to continue growing alongside Japan’s increasingly graying society. In addition to the generic drug market, growth can also be foreseen in the development of new vaccines, while progress in endoscopic technology, catheter treatments, and other technologies hold promise for the device industry. The rise in demand for access and the supply of better drugs and devices to both patients and medical practitioners has prompted great response to the pharmaceutical industry. The government well responded to this needs by implementing policies which has created a more attractive market. This has helped develop innovative drugs and medical devices while providing better distribution matrix. In April 2007, the Japanese government introduced an integrated package called the “5-Year Strategy for the Creation of Innovative Pharmaceuticals and Medical Devices.” The plan called for concentrated financing of R&D, development of venture businesses, improving the environment for clinical trials, increasing tie-ups with other Asian countries, speedup and improvement of quality of review, and also an appropriate recognition of innovative products. The product will be developed in the industry with packaging inclusive with high standards accorded by the medical boards of Japan. The packaging will be well integrated by the pharmaceutical and medical devices board. This will help consumers know the authenticity and originality of the products manufactured. A well distributed market in this case is crucial for products to ultimately reach its target market. In Japan there is an increase in the graying community which creates a niche market for the available markets.
The sale strategy in itself responds to the distribution, place, people and product promotion. All this aspects are considerably important in creating a well established sales target to precede the projected amounts. In the distribution stage it is well required that the product be placed in medical facilities and pharmacies accepting prescriptions. Thus it is important for those handling the product to have enough product knowledge to prescribe and sell to patients and medical practitioners.
Distribution only reaches the few people with the product knowledge thus the need for advertising. In Japan some of the ways of advertising include use of subway advertising, magazine, TV and radio, newspapers and also allocating CD for consumer understanding of the product. The use of the above advertising methods will require resources but when used will reach a much wider audience beyond the target market.
Training capable sales team to enhance product knowledge to the consumer. This strategy will improve distribution and enhance product knowledge of the product by positioning them in the various community health clinics. By having this developed sales team there will be increased sales target on part of the pharmaceutical industry. They can also branch by selling internationally to other countries to improve on the unique distribution of the product. In creating a successful sale plan it is important for any company to understand the product in order to understand the target market. This will not only help in the exceeding of target sales but will guide any company to deliver according to consumer tastes and preferences.
References
Deloitte. (2009). The next phase: opportunities in China's Pharmaceuticals market. Deloitte.
Invest japan department, japana external trade organisation. (2009). Japan's growing major market for pharmaceuticals and medical devices- moving towards the cutting edge. Japan external trade organisation.
