Formulating new product launch strategy of vitamin mineral supplement at Indonesia: case study of PT. XYZ, a pharmaceutical company
The changing of women lifestyle which put important to beauty skin maintaining and growing middle class population in Indonesia is giving space to the health care market to grow. PT. XYZ as a pharmaceutical company which intends to have growth strategy need to have new products as new portfolio of their business pillars. By using SWOT analysis, QSPM (Quantitative Strategic Planning Method) as a tool to formulate a new product launch strategy of the new vitamin mineral supplement product in the future, was found that PT. XYZ have 3 alternative strategies to support the product launch strategy after inout and matching stage with Competitive Profile Matrix, SPACE, BCG, IE, Grand Strategy Matrix support PT. XYZ to do Product and Market Development as the objective of New Product Launch Strategy. In QSPM suggest PT. XYZ to decide first to launch with new technology, import new product, delayed entrant by observing competitors, as in order, the total attractive scores are 6.24>5.71>4.91. Hence, the most valuable New Product Launch Strategy of women?s vitamin mineral supplement for PT. XYZ is first to launch with new technology as the output of this research by obtaining the highest total score in QSPM compared to two other alternative new product launch strategies.
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