CQ Max Crafting A Product Launch Case Solution

ii. Weaknesses

Moving onto the weaknesses that the company may have, the curcumin-based formulation was not available in the market due to the low absorption and poor solubility aspects of the formulation. Moreover, cancer-related treatment is a saturated market, and there are many options available in the market. In addition to this, curcumin would easily exit the body, and this renders the treatment ineffective, and also requires the substance in large quantities. Moreover, the company had a low marketing and promotional budget; hence; it was difficult for Baboota to make a mark in the already saturated market. Also, it is difficult to convince health care providers that cancer can be treated through a plant-based substance. 

iii. Opportunities

Chemotherapy and radiation had multiple side effects and did not help in reducing the percentage of deaths; hence there was an increasing trend of shifting from chemical treatments in oncology to alternative treatments. Furthermore, there was a rise in cancer cases in the country, which had increased the demand for safe and cancer supportive products. Furthermore, there was a recognized market for natural therapy and treatment products, and hence, there was a potential for plant or natural based products for the treatment of cancer. There were no established players in this particular segment.

iv. Threats

Looking over to the threats, one of the major threats faced by the company include large players like multinational companies that exist in the market. These multinational companies have high promotional budgets which help to market their products. Moreover, companies were investing heavily in research and development to come up with better drugs and formulation, which would serve as a threat to Baboota’s herbal approach and would give him competition. Moreover, no similar products existed; hence, potential sales and success of the product were unpredictable and risky for Baboota. 

2. Launch Plan for CQ Max

If Baboota was to launch by approaching oncologists, Baboota could benefit from his first-mover advantage and launch in large hospitals that had proper cancer treatment departments. This would allow the brand to establish credibility, as oncologist, that would make patients trust it more, would prescribe it. Hence, this could help gain a portion of the cancer treatment market. Moreover, Baboota could indulge in direct or personal selling, which is done by approaching the patients directly, but this could require a large investment as trained sales personnel would be required for this purpose, who would need to know the advantages and disadvantages of the product usage and know how to deal with the questions that may arise from the patients (Fill & Turnbull, 2016).

Furthermore, as the market is relatively new for these products, it is important to create the category. Once the category is created, product development would be the next step. The product will follow the product life cycle, which includes, introduction, growth, maturity and decline (Longdregan,1990).