Bristol-Myers Analysis
Datril Case
My Solution
I am proposing that Bristol-Myers (BM) position itself as a low price alternative to Tylenol. As an an amendment to the given second solution, I would propose that Bristol-Myers make its name prominent and visible on all touch points, while also adopting a two-pronged communication plan to go along with its two-part goal of gaining share in the acetaminophen market and solidifying BM’s position in the analgesic market. One prong should focus on communicating that Datril has identical functional benefits as Tylenol while costing less, and the other focusing on the lack of side effects from taking acetaminophen as opposed to aspirin.
Support for Solution (*not considering BM’s other two drugs on the market; not enough info given)
I’ll explain why this is the best solution with relation to the explicitly stated two-part goal for Datril:
Gain share in the acetaminophen market
With Tylenol being the only other non-prescription acetaminophen on the market, it is important that Datril speak specifically to why it is a better alternative to Tylenol in order to take share away from Tylenol and grown their own share within this market. A price differential in favor of Datril in addition to messaging explaining the parity in benefit would give consumers whom were cost-sensitive and/or lacking brand loyalty to Tylenol reason to switch to Datril.
Solidifying Bristol-Myers’ position in the analgesic market
Aspirin currently makes up 90% of the analgesic market, leaving only 10%at most for acetaminophen. Even if Datril captured 100% of the acetaminophen market (which is unlikely), there is still another 90% of the analgesic market that is left unaddressed by Datril. To solidify Bristol-Myers’ position in