Botox Case Study Example | Topics and Well Written Essays - 1000 words

Botox - Case Study Example Botox is derived from the botulin poison and used to paralyze the nerves and thus movement in certain parts of the face, particularly around the eyes, forehead, mouth, and nose, creating an appearance that is free of the age associated wrinkles. This treatment is considered a luxury purchase in Canada and worldwide, though is reasonably priced at around $2000 for a 3-6 month treatment on average. Because of this, the proposed marketing plan will address the ways to increase sales primarily in the luxury market, while also recognizing that Botox may become useful in the treatment of other diseases, such as migraines, chronic pain disorders, or nerve issues. Allergan states that Botox has â€Å"has virtually changed the face of medical aesthetics† and the widest application of this pharmaceutical is in cosmetic related procedures that are non-surgical and relatively quick for the patient to receive. (Allergen, 2011) Nevertheless, there may be competitors or legislative decisions that adversely affect the Botox market, such as taxation in the United States that would target Botox treatments and other types of cosmetic surgery with a type of luxury tax. As this is not expected to pass in Canada in the foreseeable future, the wider issue would be the assumption of medical coverage for Botox treatments popularly. There is increasing use of Botox in Canadian hospitals covered under national healthcare plans that include the use of Botox as a treatment for migraines, but there is little coverage under these plans for cosmetic procedures. Because of this, Allergan should pursue a sales and marketing plan for Botox in Canada that targets the medical uses of the drug to the hospital and private practitioner community while providing additional literature on the cosmetic use of Botox to all practicing cosmetic surgeons in the country. The next section will examine the existing corporate strategy of Allergan to see how it can be supplemented or improved for Canada. A llergan It is clear that Allergan CEO David Pyott’s plan for Botox has been widely successful, and the company is already pursuing a dual marketing plan of providing the background information on the medical uses of Botox to doctors in hospitals and private practice in Canada, while building log term relationships with cosmetic surgeons and dermatologists who specialize in the procedure. The advertising of Botox in the professional class is largely established through word of mouth and the becoming of â€Å"Botox† a publicly recognized term, like â€Å"aspirin†. This success in building the brand identity can be considered the highest accomplishment of Allergan’s existing marketing campaign, and this brand identity will fuel future organic growth in Canada. Strengths The strengths of the Botox product is its cosmetic use, though increasingly the medical significance of Botox in migraine and nerve pain instances points to a large and growing market share. Because there are few existent competitors for this product, and because it gives professionals an advantage in an appearance oriented career such as acting, modeling, publicity, etc., the procedure itself can often be justified as a business related cost or investment. This aspect is also related to the inevitable fact of old age and the need of society to worship the