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Botox Marketing Strategy

Botox Marketing Strategy. By Gina Pearson, Kyla Ley, Abdulrahin Alsamman and Bryson MacDonald. Recommendation. To increase the target market by creating minor alterations to the product, changing the price and how the product will be promoted. Product. K eep the original Botox formulas

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Botox Marketing Strategy

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  1. Botox Marketing Strategy By Gina Pearson, Kyla Ley, AbdulrahinAlsamman and Bryson MacDonald

  2. Recommendation • To increase the target market by creating minor alterations to the product, changing the price and how the product will be promoted

  3. Product • Keep the original Botox formulas • Create a new strand of Botox that could potentially last for double the amount of time of the original Botox formula

  4. Promotion • Billboards • Television advertisements • Print advertisements (brochures and posters) • Target more people on social media by creating advertisements for Facebook, Twitter and other outlets

  5. Place/ Distribution • To maintain the safety of Canadians and obey regulations put in place by the federal government, Botox will only be available through a doctor and the doctor is only able to get it through registered suppliers.

  6. Price of Original Botox • Price will be lowered from $780 a vile to $600 • One vile gives 4 injections • Lasts 3-6 months

  7. Price of New Botox Strand • Price increases from $780 a vile to $1000 • One vile still gives 4 injections • Lasts 6-9 months

  8. Implementation • Change the price • Change the formula • Use social media outlets to promote the product more • Target men by creating advertisements that have both men and women in them

  9. Change the Price • We are able to change the price because the cost to produce Botox is low and there is already a large profit from it • By decreasing the price of the original product we are able to increase the price of the new strand so sales will still increase

  10. Change the Formula • The 13% increase in R&D will allow us to further look into the new strand of Botox • Changing the formula will allow for us to decrease the price of the original Botox and target a younger audience while still keeping the audience who make $95 000 and over • The new strand will last longer

  11. Change the Promotions • Create more advertisements for Facebook and create a Twitter account to promote Botox • The social media advertisements will promote Botox to ayounger audience

  12. Target Younger Audiences • If we increased the age range by 8 years (22-54 years old) the price of Botox could potentially increase by 33% if 100% of clients participated • So, if 40% of the new target market participated then sales would increase by 13% • This will be possible by lowering the price of Botox

  13. Target Men • Create promotions that can attract more men to receive Botox by having a “couples” advertisement

  14. Success to 2012 Fiscal Year

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