Subject category:
Marketing
Published by:
Darden Business Publishing
Length: 10 pages
Topics:
New product introduction; Positioning
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Abstract
In 1988, Syntex formed a joint venture with Procter & Gamble to market naproxen sodium, a prescription pain reliever sold by Syntex under the names Anaprox and Naprosyn, in the over-the-counter (OTC) internal analgesics market. The product received DFA approval for sale over-the-counter in January 1994, and was to be launched in June 1994 under the brand name Aleve. This was not Procter & Gamble''s first foray into marketing OTC pain relievers. In the 1980s, P&G attempted to launch Encaprin, a coated aspirin product. Encaprin was unable to compete with the ibuprofen products entering the market, and the product was eventually pulled. Syntex and P&G know that they were entering into a highly competitive, if not voracious, market. How could they build on the success of the prescription product? How could they introduce a new pain reliever in an overcrowded OTC market? How much would they have to spend to gain significant market share?
About
Abstract
In 1988, Syntex formed a joint venture with Procter & Gamble to market naproxen sodium, a prescription pain reliever sold by Syntex under the names Anaprox and Naprosyn, in the over-the-counter (OTC) internal analgesics market. The product received DFA approval for sale over-the-counter in January 1994, and was to be launched in June 1994 under the brand name Aleve. This was not Procter & Gamble''s first foray into marketing OTC pain relievers. In the 1980s, P&G attempted to launch Encaprin, a coated aspirin product. Encaprin was unable to compete with the ibuprofen products entering the market, and the product was eventually pulled. Syntex and P&G know that they were entering into a highly competitive, if not voracious, market. How could they build on the success of the prescription product? How could they introduce a new pain reliever in an overcrowded OTC market? How much would they have to spend to gain significant market share?