A major influence in the use of food supplements is the fact that it is part of our daily life and harms our physical and physiological behavior and mentality through food and dietary nutrition. Facing the fact, that nutrition is part of our life style and influences our well-being, the systematic way to keep the high level of well-being is directly linked to nutrition and the way we follow it every day. Nutrition as part of our well-being is also influenced by our behavior, how we take care of our daily consumptions of foods and its ingredients. As everybody knows since childhood, food has major impact on ones physical development and mental healthiness. We have learnt that additional food ingredients can influence our well-being. Therefore the more we get aware of the influence, the more we care about our food and supplements to stay healthy and more or less emphasize the salutogenetic approach of medical treatment.
As ANTONOVSKY claims in his approach, people with ability for self-medication, they will have the ability to do everything to stay healthy and adequately live their life in such mode, that they will continue to stay healthy. This will be done with balancing their life in matters of daily work, stress factors, infections, social integration, self-confidence and many more. As BENGEL discusses in his symptomatic approach, the question of being healthy is more the question of preventive medicine in respect of activating ones resistance against health influencing factors. This fact is more or less the initial point of medication outside of the classical prescription medicine, in its pathogenic manner. Self-medication is a trendy thing and is part of a high quality standard of living, which gains more influence also in the social structure of people. To be healthy means high quality of living and following the trend will indicate the willingness to keep that quality on the high standard. Therefore, as a part of peoples lifestyle, they spend money for health, more as they would do without the influence of the know-how, that self-medication can offer. Healthiness in a salutogenic manner is definitely part of the high quality lifestyle of modern and high-civilized people.This work will draft a business model in a very complex framework of a newly adapted legal structure in the health care business of food supplements and bioactive substances of phytopharmaca.
Table of Contents
- 1 Business Plan
- 1.1 Background of food supplements, plant food supplements or phytopharmaca
- 1.2 Structure of the work
- 2 Marketing in Pharma Business
- 2.1 Pharma Marketing in general
- 2.2 Marketing Plan
- 2.3 Market Share
- 2.4 Market Segments
- 2.5 Market Analysis
- 2.6 Portfolio Analysis
- 2.7 Market Brand
- 2.7.1 Brand Models
- 2.8 Market Goals
- 2.9 Marketing Strategy
- 2.9.1 Pricing and Strategy
- 2.9.2 Distribution channels
- 2.9.3 Marketing Tracking and Controlling
- 2.9.4 Trends in the pharmaceutical industry
- 3 Impacts of Food Supplements on this trend
- 3.1 How bioactive foods affect obesity
- 3.2 New Regulations regarding Food Supplements
- 3.3.1 Pharmaceutical product
- 3.3.2 Food and Food Supplements
- 3.3.3 Dietary Products
- 3.3.4 Dietary Products for medical use
- 3.3.5 Cosmetics
- 3.3.6 Medical Products
- 3.3 Marketing Tools for Food Supplements
- 3.4 Marketing Mix
- 4 Product manager and Product management
- 4.1 Strategic Planning
- 4.2 Positioning
- 4.3 Orientation
- 4.4 Operational Planning
- 4.4.1 Competences and setup of the marketing team
- 4.4.2 Cooperation and one-stop-shop for the medical department
- 4.4.3 Cooperation with the practitioners and pharmacies
- 5 Advertising
- 5.1 The sales-team and pharmaceutical representative
- 5.2 Advertising within the pharmaceutical legal framework
- 5.3 Ethic Assets
- 6 Funding and Finance
- 6.1 Early Stage Phase
- 6.2 Expansion Phase
- 6.3 Late Stage Phase
- 6.4 Funds, Grants and Venture Capital
- 7 Business Model for Food Supplements
- 7.1 'State of the Art' Food Supplements in Europe
- 7.1.1 Food supplements
- 7.1.2 Plant Food Supplements (bioactive Compounds) and Phytopharmaca
- 7.1.3 Novel Food
- 7.1.4 Functional Food
- 7.2 Define Business opportunities, market opportunities
- 7.2.1 Definition within distribution channels, partner systems, POS, and other
- 7.2.2 Rank potential
- 7.3 Market Potential Food Supplements vs. traditional prescription medicine (RX)
- 7.4 Trends in the future - Next Generation Food Supplements
- 7.5 Challenges for new food supplements
- 7.6 USP
- 7.6.1 Characteristics for food supplements and phytopharmaca
- 7.6.2 East Europe and Russia and its market potential
- 7.7 Financial Model, Business Plan
- 7.7.1 Funding Structure
- 7.7.2 Cost table
- 7.7.3 Operational Planning and Scheduling
- 8 Intellectual Property and Development
Objectives and Key Themes
This master's thesis aims to develop a comprehensive business model for new food supplement products within the East European market. The focus is on navigating the complex legal and marketing landscape of the pharmaceutical industry while considering the growth potential of this sector. * Market analysis of food supplements in Eastern Europe. * Development of a marketing and distribution strategy. * Financial planning and funding strategies for the new product line. * Legal and regulatory considerations for food supplements in the region. * Identification of key market trends and opportunities.Chapter Summaries
1 Business Plan: This chapter lays the groundwork for the thesis by introducing the food supplement market's significant growth and the company's existing position within the Austrian market. It highlights the company's long-standing presence and its intention to develop "next-generation" food supplements, impacting customer profiles and distribution. The chapter also establishes the importance of food supplements in maintaining well-being, referencing salutogenic and symptomatic approaches to health, emphasizing the role of self-medication and its connection to lifestyle and high-quality living. The chapter concludes with an overview of the structure of the thesis, outlining a business plan framework. 2 Marketing in Pharma Business: This chapter delves into the specifics of marketing within the pharmaceutical sector, covering various aspects such as market analysis, portfolio analysis, brand development, marketing strategies, pricing, and distribution channels. It addresses the intricacies of market segmentation, examining the characteristics of different market groups and tailoring strategies accordingly. The chapter also considers the impact of industry trends on the marketing and sales of food supplements, emphasizing a strategic approach to market positioning and penetration. 3 Impacts of Food Supplements on this trend: This chapter examines how bioactive foods influence obesity and the impact of new regulations on food supplements, detailing the classification of food supplements under various legal frameworks (pharmaceutical products, food, dietary products, etc.). It explores the marketing tools applicable to food supplements and the specific Marketing Mix for optimal strategies. 4 Product manager and Product management: This chapter outlines the roles and responsibilities of product managers and overall product management within the context of the planned food supplement business. It covers strategic and operational planning, highlighting the importance of team competencies, cooperation within the company, and collaboration with external stakeholders like practitioners and pharmacies. 5 Advertising: This chapter discusses advertising strategies, including the role of sales teams and pharmaceutical representatives, operating within the legal and ethical framework of the pharmaceutical industry. It emphasizes the importance of ethical considerations in marketing food supplements. 6 Funding and Finance: This chapter addresses financial aspects, dividing the funding process into early, expansion, and late stages, outlining strategies for securing funds, grants, and venture capital. The different phases highlight different funding needs and approaches. 7 Business Model for Food Supplements: This chapter presents a detailed business model, focusing on the current state of food supplements in Europe, categorizing them (plant-based, novel food, functional food) and assessing the market potential and business opportunities. It includes a competitive analysis, examining the advantages and challenges for new entrants in the market and identifies specific market trends and the importance of creating a unique selling point. A financial model for implementation is also covered.Frequently Asked Questions: Comprehensive Business Model for Food Supplements in Eastern Europe
What is the overall focus of this document?
This document presents a comprehensive business plan for launching new food supplement products in the East European market. It covers various aspects, from market analysis and marketing strategies to financial planning, legal compliance, and product management.
What are the key themes explored in the business plan?
Key themes include market analysis of food supplements in Eastern Europe, the development of a robust marketing and distribution strategy, financial planning and funding strategies, legal and regulatory considerations specific to the region, and the identification of significant market trends and opportunities.
What aspects of marketing are covered in the business plan?
The marketing section delves into general pharma marketing principles, creating a specific marketing plan, analyzing market share and segments, conducting portfolio analysis, establishing a market brand and brand models, defining marketing goals and strategies (including pricing, distribution channels, and marketing tracking), and considering current trends in the pharmaceutical industry.
How does the business plan address the legal and regulatory landscape?
The plan thoroughly addresses the legal and regulatory environment surrounding food supplements, detailing the classification of food supplements under various legal frameworks (pharmaceutical products, food, dietary products, etc.), and highlighting the implications of new regulations.
What is the role of product management in this business plan?
The plan outlines the critical role of product managers and product management in strategic and operational planning. It emphasizes the importance of team competencies, internal cooperation, and collaboration with external stakeholders such as practitioners and pharmacies.
What advertising strategies are discussed?
The advertising section considers the roles of sales teams and pharmaceutical representatives, operating within the legal and ethical frameworks of the pharmaceutical industry. Ethical considerations in marketing food supplements are stressed.
How does the business plan approach funding and finance?
The financial aspect is addressed through a phased approach (early, expansion, and late stages), outlining strategies for securing funds, grants, and venture capital. Different funding needs and approaches for each phase are highlighted.
What is the scope of the business model for food supplements?
The business model section presents a detailed analysis of the current state of food supplements in Europe, categorizing them (plant-based, novel food, functional food), assessing market potential and opportunities, conducting competitive analysis, identifying advantages and challenges, and outlining key market trends. It also incorporates a unique selling point (USP) and a comprehensive financial model.
What specific types of food supplements are considered?
The plan considers various food supplement types, including traditional food supplements, plant-based food supplements (bioactive compounds) and phytopharmaca, novel food, and functional food.
What is the geographic focus of this business plan?
The primary geographic focus of this business plan is the East European market, specifically considering its unique challenges and opportunities.
What are the key chapters covered in the business plan?
The business plan includes chapters on the business plan itself, marketing in the pharma business, the impact of food supplements on current trends, product management, advertising, funding and finance, the business model for food supplements, and intellectual property and development.
- Quote paper
- Oliver Dinstl (Author), 2012, Marketing and Distribution of New Food Supplement Products in the East European Market. A Business Plan, Munich, GRIN Verlag, https://www.grin.com/document/285665
