summer internship project report

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Marketing Research For New Product Launch: Cisatracurium

A Summer Training Project Report Submitted in Partial Fulfillment of the Requirements for the Award of degree of MBA (Finance & Marketing)

2011 2013

Submitted by Manish Ranjan Singh

Guided by Ms. Ranpreet Kaur

Certificate from the Company/Organization

This is to certify that Manish Ranjan Singh, son of Dr. Satyendra Narayan Singh Pursuing MBA from Institute of Management and Entrepreneurship Development, Pune has successfully completed the Project Report in our organization on the topic titled, Marketing Research for New Product Launch: Cisatracurium from 1st June to 10th August 2012. During his project tenure in the organization/company, we found him hard working, sincere and diligent person and his behavior and conduct was good. We wish him all the best for his future endeavors.

Signature Sandeep Pawar (Group Product Manager) Name and Designation of the Guide2|Page

Certificate of OriginalityThis is to certify that the project report entitled Marketing Research for New Product Launch: Cisatracurium Submitted to Bharati Vidyapeeth Deemed University, Pune in partial fulfillment of the requirement for the award of the degree of MBA (Finance & Marketing) is an original work carried out by Mr. Manish Ranjan Singh, under the guidance of Ms. Ranpreet Kaur. The matter embodied in this project is a genuine work done by Manish Ranjan Singh to the best of my knowledge and belief and has not been submitted before, neither to this University nor to any other University for the fulfillment of the requirement of any course of study.

Signature of the Student

Signature of the Guide Designation

3|Page

CertificateThis is to certify that the project titled Marketing Research for New Product Launch: Cisatracurium is an academic work done by Manish Ranjan Singh submitted in the partial fulfillment of the requirement for the award of the Degree of MBA (Finance & Marketing) from Bharati Vidyapeeth Deemed University, Pune. It has been completed under the guidance of Ms. Ranpreet Kaur (Faculty Guide) and Mr. Sandeep Pawar (Corporate Mentor). We are thankful to Abbott India Ltd. for having allowed our student to undergo project work training. The authenticity of the project work will be examined by the viva examiner which includes data verification, checking duplicity of information etc. and it may be rejected due to non fulfillment of quality standards set by the Institute.

Dr. Sachin S. Vernekar (Director IMED)

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ACKNOWLEDGEMENTThe satiation and euphoria that accompany the successful completion of the project would be incomplete without the mention of the people who made it possible. I would like to take the opportunity to thank and express my deep sense of gratitude to my corporate mentor Mr. Sandeep Pawar and my faculty mentor Ms. Ranpreet Kaur. I am greatly indebted to both of them for providing their valuable guidance at all stages of the study, their advice, constructive suggestions, positive and supportive attitude and continuous encouragement, without which it would have not been possible to complete the project. I would also like to thank Mr. Rajesh Pandey (Country Manager) who in spite of busy schedule has co-operated with me continuously and indeed, his valuable contribution and guidance have been certainly indispensable for my project work. I am thankful to Mr. Sandeep Pawar for giving me the opportunity to work with Abbott India Ltd. and learn. I owe my wholehearted thanks and appreciation to the entire staff of the company for their cooperation and assistance during the course of my project. I hope that I can build upon the experience and knowledge that I have gained and make a valuable contribution towards this industry in coming future.

Manish Ranjan Singh,BVDU, IMED PUNE

Name of the Student

Signature5|Page

PrefaceThe objective of the project was to understand the Neuro Muscular Blocker (NMB) market & develop the medical positioning for Cisatracurium for Abbott India Ltd., for that we have to understand the customer needs (doctors), pricing constraints, response, emotions and beliefs regarding the product, so that they can contribute their valuable inputs for introducing the Cisatracurium in India for the company. The objective of this study was to analyze the clinical practice of the available neuromuscular blocker in Mumbai and Pune city with respect to the survey in the best hospitals of the city. The project was started on 1st of June after knowing all the relevant information regarding the project, under the guidance of Mr. Sandeep Pawar (Group Product Manager). The first part of my project involves the study of the Anesthetists armamentarium of drugs, Understand the NMB category & their mechanism of action and Clinical use of NMBs & their place in therapy. For this I used Internet as a primary source of information for study, also attended a day with Dr. Amit Arora discussing the topics. Along with the detailed study of NMB category the study was more focused on Cisatracurium. Since, the next part of my project was to develop the questionnaire respected to medical positioning for Cisatracurium and clinical preferences of current NMBs available. Hence, the detailed study provided me a rough idea in developing questionnaire and my corporate mentor guided me in finalizing the questionnaire. For this the questionnaire was prepared which gave the vague idea about the customers, who were really interested in practicing the new molecule and wanted to know about the availability of the molecule in the country. Go through questionnaire in different hospitals and people in the Pune and Mumbai city. The marketing research was undertaken for Pune and Mumbai region during one month. The sample size of the marketing research was taken to be 40. The questionnaire contains various aspects like their Name, Contact Number, E-mail Id, Hospital Name, NMB preference and Cisatracurium advantage etc. The final part of the project consists of 15 days of scanning the questionnaire. Most important part is analyzing the information.

Manish Ranjan Singh

Signature6|Page

Index1. CHAPTER 1: Introduction..9-30 1.1. Overview of the Industry..101.1.1. Pharmaceutical Industry in India

1.2. Company Profile...121.2.1. 1.2.2. 1.2.3. 1.2.4. 1.2.5. 1.2.6. 1.2.7. About the Company Corporate Overview Fact sheet Vision Dedication Strategy The Work Culture The Abbott Brand Promise

1.3. Company History.181.3.1. Early Decades 1.3.2. Late 1960s and Early 1970s: Diversification and Crises 1.3.3. Late 1970s through 1980s: Emphasizing R&D, Nutritionals, Diagnostic Equipment 1.3.4. 1990s and beyond: New Drug Introductions and Acquisitions 1.3.5. Recognition 1.3.6. Key dates 1.3.7. Abbott India Ltd. History

1.4. Competition Overview.30 2. CHAPTER 3: Research Methodology...31-36 2.1. Objective and Scope of Study..322.1.1. 2.1.2. 2.1.3. 2.1.4. Objective of the Study Scope of the Study Managerial Usefulness of the Study Types of Research and Research design

2.2. Research Methodology.33 2.3. Research Design...34 2.4. Sample Design..342.4.1. Sample Size 2.4.2. Sampling Method 2.4.3. Sample Type

2.5. Data Collection Method...35 2.6. Limitation Of the Study....36

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3. CHAPTER 2: Conceptual Discussion...37-43 3.1. About Product: Cisatracurium.38 3.2. Current Issues/News39 4. CHAPTER 4: Data Analysis..44-69 4.1. Methods and Techniques of Data Analysis.454.1.1. Data Analysis Concept 4.1.2. Data Analysis Process

4.2. Detail Analysis.....47 5. CHAPTER 5: Findings, Conclusion & Suggestions.....70-74 5.1. Interpretation....71 5.2. Findings....72 5.3. Conclusion....73 5.4. Suggestions...74 6. CHAPTER 6: Appendix & Bibliography.75-80 6.1. Sample Questionnaire..76 6.2. Abbreviation & Notations....79 6.3. Bibliography.....80

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CHAPTER 1Introduction

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Overview of the IndustryThe Indian pharmaceutical industry is a success story providing employment for millions and ensuring that essential drugs at affordable prices are available to the vast population of this sub-continent. Richard Gerster

Pharmaceutical Industry in IndiaThe Pharmaceutical industry in India is the world's third-largest in terms of volume and stands 14th in terms of value. The government started to encourage the growth of drug manufacturing by Indian companies in the early 1960s, and with the Patents Act in 1970. However, economic liberalization in 90s by the former Prime Minister P.V. Narasimha Rao and the then Finance Minister, Dr. Manmohan Singh enabled the industry to become what it is today. This patent act removed composition patents from food and drugs, and though it kept process patents, these were shortened to a period of five to seven years. The lack of patent protection made the Indian market undesirable to the multinational companies that had dominated the market, and while they streamed out. Indian companies carved a niche in both the Indian and world markets with their expertise in reverseengineering new processes for manufacturing drugs at low costs. Although some of the larger companies have taken baby steps towards drug innovation, the industry as a whole has been following this business model until the present. The Indian pharmaceutical sector has come a long way, being almost non-existent before 1970 to a prominent provider of healthcare products, meeting almost 95 per cent of the country's pharmaceuticals needs. The Industry today is in the front rank of Indias sciencebased industries with wide ranging capabilities in the complex field of drug manufacture and technology. It ranks very high in the third world, in terms of technology, quality and range of medicines manufactured. From simple headache pills