Bangladesh Institute of Management (BIM)

Term Paper Proposal

Marketing Program for recovering 10% decline
sales of Painkiller Tablet

Submitted To,
Dr. Uttam Kumar Datta
Senior Management Consultant
Bangladesh Institute of Management-BIM

Submitted By,
Rahul Mahata
Student ID: 23MM017
Season: 2023
Phone: 01741-622059
E-mail: rahul.vu0112@gmail.com
Chemist Laboratories Ltd.
1.0 Introduction
In the dynamic pharmaceutical industry, market fluctuations and changing consumer
preferences are inevitable challenges. Recognizing the recent 10% decline in sales of our
Painkiller Tablet, it is imperative for us to proactively address this issue and implement a
robust marketing program to revitalize and reclaim our market share.

The research problem in developing a marketing program to recover a 10% decline in

sales of Painkiller Tablets involves identifying the root causes of the sales decline and
understanding the factors influencing consumer behavior in the painkiller market. The
key components of the research problem can be outlined as follows. Market Analysis,
Consumer Insights, Product Positioning , Brand Perception, Marketing Effectiveness,
Consumer Behavior Analysis, Competitive Landscape, Distribution Channels, Consumer
Feedback and Complaints.

Organizations should care about the problem of recovering a 10% decline in sales of
Painkiller Tablets for several compelling reasons. Sales are a crucial revenue source for
any organization. A 10% decline in sales can have a significant financial impact,
affecting the overall profitability and sustainability of the company. Losing sales can
result in a reduction of market share. Maintaining a strong market position is essential for
competitiveness, and a decline in sales may indicate a loss of ground to competitors. A
decline in sales may be indicative of broader issues that can affect the brand's reputation.
Consumer perception of a product's effectiveness, safety, or value for money can impact
the overall reputation of the brand. A consistent decline in sales can erode investor
confidence. Shareholders and stakeholders may become concerned about the company's
performance, potentially impacting stock prices and overall investor trust. A decline in
sales can disrupt the supply chain, leading to excess inventory, increased carrying costs,
and potential wastage. Addressing the decline is crucial for optimizing the supply chain
and maintaining operational efficiency. Persistent sales declines may lead to cost-cutting
measures, potentially impacting jobs and employee morale. Addressing the issue
proactively helps maintain a positive work environment and job security for employees.
Failing to address a decline in sales may lead to a loss of customer trust. Engaging in a
recovery program demonstrates a commitment to meeting customer needs and reinforces
positive relationships with the consumer base. The ability to adapt to market changes and
address declining sales is crucial for the long-term viability of the organization.
Proactively managing such challenges ensures resilience and sustainability in a
competitive business landscape.
Recovering from a 10% decline in sales of painkiller tablets requires a strategic approach
that involves understanding the reasons behind the decline and implementing targeted
solutions. Here are some suggestions. Conduct a thorough analysis of the market to
identify any shifts in consumer preferences, competitive pressures, or changes in the
regulatory environment. Understand the demographics and psychographics of your target
audience to tailor your marketing strategies accordingly. Gather feedback from customers
who have stopped purchasing the painkiller tablets. Use surveys, interviews, or online
reviews to understand their reasons for the shift. Pay attention to any emerging trends or
preferences that may have impacted sales. Assess how your painkiller tablets are
positioned in the market compared to competitors. Identify unique selling points or areas
for improvement. Consider product innovations or enhancements to differentiate your
product and attract a broader audience. Revise your marketing strategy to highlight the
benefits and features of your painkiller tablets. Utilize digital marketing channels, social
media, and influencer partnerships to increase product visibility. Offer promotions or
discounts to incentivize both new and existing customers. Launch educational campaigns
to inform consumers about the safety, efficacy, and benefits of your painkiller tablets.
Provide information about the conditions the tablets treat and why they are a reliable
choice. Evaluate your distribution channels and ensure that your product is readily
available where your target audience shops. Explore new partnerships or distribution
agreements to expand your reach. Assess your pricing strategy and consider whether
adjustments are needed to make your painkiller tablets more competitive without
compromising quality. Bundle offers or loyalty programs can also be effective in
retaining customers. Collaborate with healthcare professionals to build trust in your
product. This can include partnerships with doctors, pharmacists, or health clinics.
Provide educational materials for healthcare professionals to recommend your product.

Recovering from a 10% decline in sales of painkiller tablets involves a strategic and
comprehensive approach. Here's a detailed plan outlining the benefits for the
organization. In-depth understanding of market dynamics, consumer preferences, and
competitive landscape. Improved customer satisfaction and loyalty. Increased market
share and competitiveness. Enhanced brand visibility and increased sales. Increased
accessibility and convenience for customers. Improved competitiveness and customer
retention. Maintained trust and regulatory compliance. Increased agility and
responsiveness to market changes.
2.0 Literature Review

A literature review is a survey of scholarly sources on a specific topic. It provides an

overview of current knowledge, allowing you to identify relevant theories, methods, and
gaps in the existing research that you can later apply to your paper, thesis, or dissertation
topic.

There are five key steps to writing a literature review. Search for relevant literature,
Evaluate sources, Identify themes, debates and gaps, Outline the structure, Write your
literature review

A good literature review doesn’t just summarize sources—it analyzes, synthesizes, and
critically evaluates to give a clear picture of the state of knowledge on the subject.
New painkiller products entering the market or existing competitors introducing more
effective alternatives could lead to a decline in market share for Painkiller Tablets.
Negative perceptions about the efficacy, safety, or side effects of Painkiller Tablets may
deter consumers from choosing this particular product, leading to a decline in sales.
Shifts in consumer preferences towards alternative pain relief methods, such as natural
remedies or non-pharmaceutical solutions, can contribute to a decline in sales of
traditional painkiller tablets. If Painkiller Tablets are perceived as overpriced compared to
similar products in the market, price sensitivity among consumers could lead to a decline
in sales. Changes in regulations related to painkiller medications, including labeling
requirements or restrictions, could impact the marketability and sales of Painkiller
Tablets. Issues related to distribution or supply chain disruptions may result in reduced
availability of Painkiller Tablets in pharmacies or retail outlets, affecting sales negatively.
Ineffective or outdated marketing strategies may fail to communicate the product's
benefits effectively, leading to reduced consumer awareness and demand. Competitors
introducing innovative features, formulations, or marketing campaigns may attract
consumers away from Painkiller Tablets, contributing to the decline in sales. Shifts in
health and wellness trends, such as a growing emphasis on holistic approaches or
increased awareness of potential side effects, can influence consumer choices and
contribute to a decline in sales. External events such as a health crisis, economic
downturn, or other global factors can impact consumer behavior and purchasing patterns,
affecting the sales of pharmaceutical products, including Painkiller Tablets.
3.0 Research of Objective
Research objectives are concise statements that describe what the research is aiming to
achieve. They define the scope and direction of the research and maintain focus. The
objectives should be SMART—specific, measurable, achievable, realistic, and time-
bound.

The main objectives to identify the 10% decline in sales of Painkiller Tablets would
typically involve a thorough analysis of sales data and market dynamics. Here are the
objectives:-
a)To examine the behavior of sales person
b) To examine the product price
c) To examine the product quality
d) To examine the distribution channel
e) To examine the promotion quality
f) To examine the position quality
g) To examine the sales person salary analysis
h) To examine the sales person education quality analysis
i) To examine the sales person performance quality analysis
j) To examine the salesperson product promotion performance quality analysis
k) To examine the customer need
l) To examine production quality
m) To examine raw material quality
n) To examine packaging material quality
o) To examine product design quality
p) To examine Customer Feedback
q) To examine the party benefits
r) To examine the company policy
4.0 Methodology of the Study
a)Research problem: I am having a lot of trouble trying to get Painkillers. Among them,
I am not getting the right data. It took a long time. The data is not properly accurate. The
equipment is not working properly.

b) Nature of Research: Exploratory research helps in generating hypotheses and

identifying variables of interest, while descriptive research provides a systematic
description and analysis of those variables. This combined approach allows researchers to
have a more comprehensive understanding of the subject under investigation.

c) Population and Sample Size: I am working with my pharmaceutical employees. I

conduct this study on about 200 people.

d) Sampling method
e) Data collection method: i) Primary Data ii) Secondary Data
f) Data analysis method
g) Limitation of the Study

5.0 Limitation of the Study

Identifying and acknowledging the limitations of a study is essential for maintaining
transparency and ensuring that the findings are interpreted appropriately. In the context of
studying the 10% decline in sales of painkiller tablets, here are some potential limitations
to consider:

 Limited Sample Size

 Sampling Bias
 Data Collection Methodology
 Time Constraints
 Availability of Historical Data
 External Factors
 Subjective Nature of Responses
 Competitor Confidentiality
 Limited Causation Inference
 Changing Consumer Preferences
 Ethical Considerations
 Budget Constraints
 Lack of Control over External Variables
6.0 Research plan
Creating a research plan is a systematic process that helps outline the key steps and
activities involved in studying and recovering from a 10% decline in sales of painkiller
tablets. My research plan process are given below:-

S/L Research Topic January February

Task-1 Sampling method 01-01-24 to 04-01-24
Task-2 Population and Sample Size 05-01-24 to 015-01-24
collection
Task-3 Data collection : i) Primary 16-01-24 to 24-01-24
Data ii) Secondary Data
Task-4 Data analysis 25-01-24 to 31-01-24
Task-5 Competitive analysis 01-02-24 to 05-02-24
Task-6 Market Research 06-02-24 to 012-02-24
Task-7 Monitoring and Evolution 13-02-24 to 18-02-24
Task-8 Repotting an Documentation 22-02-24

7.0 Budget of the study

Creating a budget for recovering from a 10% decline in sales of painkiller tablets
involves estimating costs associated with various activities and strategies. Below is a
generalized budget outline, but keep in mind that specific details will vary based on my
company's size, industry, and the strategies you choose to implement. It's crucial to work
closely with relevant departments to gather accurate cost estimates.

S/L Research Topic Budget Value

Task-1 Sampling method 5000/-
Task-2 Population and Sample Size 8000/-
collection
Task-3 Data collection : i) Primary Data 8000/-
ii) Secondary Data
Task-4 Data analysis 10000/-
Task-5 Competitive analysis 10000/-
Task-6 Market Research 15000/-
Task-7 Monitoring and Evolution 2000/-
Task-8 Repotting an Documentation 2000/-
Total Budget 60000/-
8.0 References
i) Academic Journals:
 Search databases like PubMed, JSTOR, or Science Direct for academic articles on
pharmaceutical sales recovery strategies.
ii) Industry Reports:
 Check industry reports from pharmaceutical market research firms or
organizations like IQVIA, Statista, or Evaluate Pharma for insights into market
trends and recovery strategies.
iii) Business Magazines and News Outlets:
 Explore business magazines such as Forbes, Harvard Business Review, or
industry-specific publications for articles on sales recovery strategies.
iv) Pharmaceutical Conferences and Events:
 Look for proceedings or presentations from pharmaceutical conferences and
events where industry experts might share insights into overcoming sales
challenges.
v) Government Health Agencies:
 Check reports and publications from health agencies like the FDA or WHO for
information on pharmaceutical market dynamics and regulations.
vi) Online Forums and Communities:
 Participate in online forums or communities related to pharmaceutical sales and
marketing to gather insights from professionals and industry insiders.
vii) Company Reports:
 Explore annual reports, investor presentations, or press releases from
pharmaceutical companies that have successfully recovered from sales declines.
viii) Consult with Experts:
 Connect with industry experts, consultants, or professionals who specialize in
pharmaceutical sales and marketing for personalized insights.