First-hand experience of developing a market entry and a product Assignment

First-hand experience of developing a market entry and a product launch strategy for an international market - Assignment Example Launching a new effective pharmaceutical drug will take much time due to a long process of clinical trials. Moreover, for any Mexican company it will be difficult to enter the competition with other Latin American and North American pharmaceutical companies on equal positions. So it is possible to concentrate on cosmeceuticals and nutraceuticals, the sectors of pharmaceuticals, which have not been universally recognized yet but are extremely promising. Cosmeceuticals incorporates cosmetics and pharmaceuticals and produces cosmetic products (lotions, creams) with biologically active ingredients, such as anti-oxidants, peptides, enzymes, that can be medically beneficial to humans. There also exist pharmaceutical technology companies, which have special subdivisions specializing in cosmeceuticals. Nutraceuticals is a blend of nutrition and pharmaceutical implying products which give certain therapeutic effect and can potentially aid in diseases treatment or prevention (Kalra 1). Such pr oducts as dietary supplements and functional food are usually referred to nutraceuticals. In Latin America the market of â€Å"healthy ingredients† is developed on the retailer levels. Plants, leaves, roots, seeds are popular among locals as they are perceived as ethnic and natural. Local home-made oils, powders, and extracts from these valuable plants are also demanded due to their easy access and low price (Lajolo 2). The products that would be optimal to launch can be dietary supplements received from local Latin American plants, such as asai, guava, camu-camu and others, which are not recognized in the world but are well-known to the regional consumers (Lajolo 3). All these plants are not examined thoroughly but even preliminary research suggests that they have huge potential. Certain subdivision of pharmaceutical company can arrange scientific research and manufacture of these products. Among the variety of dietary supplements I would advise to dwell on