Case Study: The Viagra Business

Case Study: The Viagra Business

Twenty-five years ago, if a patient had erectile dysfunction, they had to live with it.

There were no effective medical treatments on the market to help and patients had to rely on lifestyle changes to turn the problem around. In fact, impotence and erectile dysfunction were long seen as psychological problems rather than physiological ones. This all changed during the 90s, studies were being conducted around the world proving erectile dysfunction to be treatable, creating the perfect storm for Viagra.

Seen as a saviour for men suffering from erectile dysfunction, Viagra is now a part of popular culture and is a household name around the world.

Viagra: A History

In 1989, two Pfizer scientists, Peter Dunn and Albert Wood, created a drug to treat high blood pressure and angina. As Pfizer completed medical trials to test the new drug, doubts were cast over its ability to treat heart disease. Patients were reporting increased erections days after taking the drugs. Incidentally, around the same time, studies were being done into the science behind erections and sexual stimulation, which allowed the Pfizer scientists to understand the side-effects of the drug.

In 1996, Pfizer created the patent for Viagra in the United States, which lead to the FDA approving it for use as a treatment for erectile dysfunction in 1998. It got worldwide media coverage and was hailed as a wonder-drug. Over the next few years Viagra found its place in pop culture, being a hot-topic on talk-shows, the inspiration for an episode of Sex And The City, and even being endorsed by presidential candidate Bob Dole.

Viagra Monopoly Coming To An End

In 2010, Teva Pharmaceuticals was sued by Pfizer over their plans to launch a copycat version of the Viagra drug. Pfizer still held the patent to Viagra until 2020, so they were protecting their sales by stopping any other companies creating a similar drug. However, in 2013, the two companies finally settled in court to allow Teva to sell a generic version of the drug from 2017, whilst paying Pfizer an undisclosed royalty. This has opened the floodgates for more copycat versions with different branding.

Pfizer enjoyed the market share on erectile dysfunction drugs for 20 years, but that came to an end in 2013. Since then Pfizer’s share has dropped dramatically.

Erectile Dysfunction Industry By Numbers

In 2014, the global erectile dysfunction medication market was valued at over £3.2 billion. That number has continually grown for a few reasons: a growing elderly population, increased awareness of erectile dysfunction drugs and economic development.

Competitors

Viagra is still seen as the most effective treatment for erectile dysfunction. Although, like a lot of medications, results vary from user to user. Patients need to speak to their doctor in order to find the most suitable treatment for their condition. Here are a few of the main competitors.

Levitra – Bayer Pharmaceuticals’ answer to Viagra, this drug gets to work faster than Viagra and requires a smaller dose. It has also been noted to have less powerful side-effects, which is a big plus for users. Viagra, and its competitors, have long been known to cause headaches, stuffy nose, upset stomach, altered vision and flushing. Launched in 2003, it is one of Viagra’s main competitors.

Cialis – Cialis is a erectile dysfunction medication from Eli Lilly & Co. It works in a similar way to Viagra and can cause the same side-effects, but Cialis has one big advantage – it can last from 24-36 hours. Unlike Viagra, which typically lasts for around 4-5 hours, Cialis is known as the ‘weekend pill’. All of these drugs work in similar ways, but react with patients differently. It is a matter of testing to see which works best for the patient in question. You can buy cialis tablets from most pharmacies and chemists.

Eroxon – Created by small British company, Futura Medical, this erectile dysfunction treatment comes in the form of a gel. The company has been developing the treatment for over 15 years and finally released it in 2016, after impressive double blind test results. In similar circumstances to Viagra’s invention, Eroxon comes from a drug used to treat Angina, which dilates blood vessels.

Staxyn – Unlike other erectile dysfunction treatments, Staxyn is taken by dissolving a tablet on your tongue instead of swallowing with water. Its results and side-effects are pretty much the same as Viagra and Cialis.

You shouldn’t crush or split the tablet. It can be taken with or without meals, but not with liquids. The tablets contain 10 mg of medication that shouldn’t be taken more than once a day.

 

How to Promote your Business

How to Promote your Business

Most companies have shoestring budgets for marketing and promotion. The entire set up cost, capital expenditure, and operational expenses take out a massive chunk of your promotions fund. Most business owners must do a little business development, marketing, and promotion to advertise their businesses, products, and services. Advertising budgets can run into a lot of money and without financial backing, getting PR media content and advertisements could be out of the question.

At such times, it is necessary to find ways to promote your business and get your name in front of potential customers and clients. Promotions of companies are significant for growth and sustenance over the long term. Ideally, owners and employees should spend an hour a day on business promotional activities to get the word out.

Let us look at some ways that you can promote your business.

Start your Website

If you don’t already have a site, get one made. Most web designers are willing to make customised websites according to your business requirements. These customisations must be according to your font, colour, logo, brand, and content specification. Keep the complete control over the content, images, information, tone, and vibe of the web pages and only allow the designers to make and upload the content. If you are unsure about the content, hire a content writer to write, edit, and work with you to create excellent and high-quality content for your website.

Many startups find it difficult to hire web designers and prefer writing the content on their own. If this is the case, then there are many online resources available like GoDaddy, Wix, and Squarespace that host and provide templates for you to populate. These templates can be customised according to your business requirement and fitted with content, images, videos, and links. It may be worth out sourcing a digital marketing agency to manage this task, say Orb Online, as they specialise in such areas.

Social Media

Next on the agenda is to set up a social media presence. Most people rely on social media and online resources to find information about companies, business, products, and services. Set up Twitter, Facebook, LinkedIn, Pinterest, and Google Plus pages for your business and start populating them with content, images, and relevant and useful public information. If any conversations or groups are catering to your product or service, join them and start a discussion about your products or services.

Business Cards

Business cards might seem a little traditional, but they still work the best. Business card help spread information and contact details about your business and the work you do. If you are part of a startup and wish to promote your business, call your friends, business circle, and family members and meet with them to explain your business. At such times, hand them a business card and a few to pass on to their connections as well. Using thin sheets of plastic, like 1mm acrylic, or a high GSM paper are ideal materials for business cards.

Brand recall and contact recall is highest when there is a business card attached to the business, brand, or logo. This recall is especially useful when asking for recommendations. The business card can quickly be passed on to generate newer inquiries for your business.

Set up a Blog

Starting a blog under the name of your business will help spread the word about your services and products. Blogs should be useful, well researched and not stuffed with keywords. Most blogs are informative pieces of short articles that help readers with relevant information. Blogs are quick ways to increase brand name through organic search results. Blogs also assist in positioning your webpage and business as an authority site or figure. Authority sites get a lot of returning visitors and inquiries for products and services.

These blogs, mostly, help in brand positioning, backlinking to your website, and setting up your business in a global market. Go ahead and boost all these blogs, images, and other posts through your social media pages, and on your website to gather maximum traffic.

Advertisements and Videos

Medium-sized companies can afford to make ads for TV and online media, but smaller sized companies might find it difficult to do so. In such cases, it is best to create short animated explainer videos regarding your products, services, and any other activities your business takes part in. If your product or service relies on demonstration to the public, you make short demo videos and post them for free on YouTube with links and embedded videos on your website and social media pages.  Any charitable work, volunteer work from the company, conferences that the company is a part of should be publicized through ads and video campaigns across social media and local business sites.

 

Types Of Digital Marketing

Types Of Digital Marketing

There are different types of digital marketing, and here we would try to explain what is their use, how can I benefit from them, and how can we help you to implement them in your business plan.

Content Marketing

First of all, you probably are thinking why you need content marketing. Content can help your customers to satisfy their need for answers. Here, we are experts in helping your business and teach you how to make them from prospect to buyers. This type of marketing can help you to connect to you customers on a level that other digital marketing can’t. A good content marketing strategy is essential to the success of your business. We would be happy to work with you and come up with the best approach.

Social Media Marketing

Social-Media-MarketingSocial Media is proven to be an important part of your business plan. The leading champions of social media are brand that listens to their audience and deliver right informations. We will help you to understand your customers. We will craft high-quality content which will attract customers to you. Many companies offer services like us, but only we have experience and result in us.  We cover all the major social networks like Facebook, Instagram, Twitter, Pinterest, You Tube and more. We customize social media approach for every client.

 

Influencer Marketing

This type of marketing is about brand engaging. Influencers can be even your customers, employees, celebrities, and people on media, book authors, and many others. By working with this kind of people you can take you brand to another level, and expand your audience, you can even create new content in collaboration with them and expand your contention by networking. This type of marketing can help your digital strategy and be an effective way to build credibility. We can work with you and help you to find the best approach to influencer marketing for your business.

Digital advertising

Digital-advertisingTo gain visibility and results you need this type of marketing. Online advertising can help you to reach beyond your current network and step into the new audience by search, display, and social advertising. This kind of advertising will help you to find an audience you didn’t know you have. This will expand your reach and engage customers you always wanted. This will deliver specific messages to a specific audience for more personal approach, which will bring you more sales. An agency such as auto pilot SEO can help you to create a strategy, and find the best approach for digital marketing for your business.

Paper marketing

We are also qualified for more traditional marketing strategies like this one. Today, we live in the digital world, but this does not mean that paper marketing lost all of his power. There are several advantages to his side, like touch, which causes stronger psychological response than digital can. This kind of marketing also engages memory, and your customers are more likely to remember your brand if they saw it on the paper than in the digital form. Paper also has higher review time.