Marketing management assignment writing help online: Report writing Pfizer’s Progress Gold Infant Milk product
Executive Summary
The report below is prepared for the company Pfizer’s Progress Gold Infant Milk product in the markets of UAE. The study explores the current position of Progress Gold, analyses the current market positioning, its competitors, its internal as well as external environment. The objective of the report is to specify the concerns if any within or outside the company’s environment in comparison to all its other competitors. It also aims to provide the strategies the company should undertake in order to expand through its target markets while improving its profits and market share.
In detail the Management decision Problem, express the Market Research Questionnaires(MRQs) of the company and its components have been provided. At the end a research proposal is prepared based on the results so obtained. Overall the report basically provides an insight to current position of the product Progress Gold and compares it against the other three competitors. The competitors are:
- Nido 1 plus by Nestle
- Gain IQ plus and Pedia Sure by Abbott
- Milupa, Apta junior and bebe junior Danoneby Danon
About Progress Gold Infant Milk
Progress Gold is one of the popular infant milk products available across UAE. The product is manufactured as apopular brand by Pfizerwhich is enriched with Lutein and DHA-AA. This provides ideal balance of vitamins, fatty acids as well as minerals for children between the ages of 1 to 9 years. Itis said to assist in mental and visual development of the infants while playing a vital role in overall growth and development of the child.
Pfizer is among the big names in the world today for providing health products for both children and the adults. The products includes full line of infant formulas, follow on formulas, growing up milks, prenatal as well as adult supplements. The company has been an appreciated for maintaining high priorities for keeping a standard quality. The products available in Dubai by the company are in accordance with the laid standards by the World Health Organization code for marketing of Breast Milk Substitutes. Moreover the company has been consistently meeting all the food quality and safety standards as per the food standards in UAE and complies with all the regulations specified.
The company has been operating in the country for more than a few decades nowwhich is today headed by 5 Arab women who are from 5 different countries from the globe.
Background
There are 3 different big companies which have been giving tough competition to the company for its product. There three companies and their 3 products are as follows:
- Nido 1 plus by Nestle
- Gain IQ plus and Pedia Sure by Abbott
- Milupa, Apta junior and bebe junior Danone by Danon
Nestle is the current leader in the UAE markets which it has been retaining for the past 3 years. It has a large 33% share whereas the Pfizer infant products rank at the second spot with 20% market share. Bebelac and Aptamil brands follow with a share of 12% each.
The baby food market across UAE is expected to increase drastically till the year 2014 with an increase in Cumulative Average Growth Rate (CAGR)of around 7%.This holds a huge potential for the company to expand and market its product. There seems to be an extensive penetration and popularity of the infant food market which enjoys convenience, longer shelf life and lower prices. These are the vital elements which need to be address by the company to fight competition.
Management Decision Problem (MDP)
Seeking the increased competition from the big brands the management decision problem here lies with answering the following questions:
- How to increase the brand popularity for their product Progress Gold Infant Milk?
- How to lower down the costs while increasing the product standard?
The first question lies to the external environment and the impacts of the external environment. On the other hand the second question relates to the differences which could be made within the internal structure to yield better results.
Market research Question/Objective Components
Connecting with the industry background and the possible MDP the following market research questions, objectives and its components can help in getting out a possible solution to the company’s future strategies.
- Where is Progress Gold ranked in the Infant Milk Market as compared to its competitors?
- How is the internal environment of the company and what can be done by the company reduce the costs of operation?
- What are the key supply side and demand trends of the market for the products in the infant milk category? What is the market size?
- What are the historic volumes, values, product market share, and company’s prospects in the future?
- What are the major brands across United Arab Emirates?
- What have been the recent steps taken by the local government to impact the industry in which the company operates?
Research Design
The research approach which could be followed here would include the following steps:
- Approaching an executive of the company for more information on their present planning and what is the approach the wish to adopt to counter the possible competition
- Conduct a survey among the people you know especially the young mothers which would actually help in revealing the preferred brands
- Interviewing some of the departmental stores or the retailers across the local area to know what is the popular product that is bought among the infant product
- Studying reports and getting data on the past track record of the company along with the current positioning and analyse the data set to predict the possible future forecasts for the company in accordance with the planned strategies.
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