It is the recommendation of Team B Consulting that Pfizer pursue the Vitamin and Supplement market to capture market share in this area. Using a “Back to Basics” approach, Pfizer was the first mass producer of Vitamin C, and has a solid reputation for producing high quality products. The Supplement market is not regulated by the FDA and consumers may question the ingredients in many of the supplements that are mass produced by numerous manufacturers and marketers of these products, many of them overseas with little oversight and quality control standards. None of these companies have the name or brand recognition that comes with Pfizer. We believe that with the Pfizer name attached to a line of Vitamins and Supplements, consumers would have more trust and confidence that the supplements manufactured and marketed by Pfizer than those of competing brands.
In order to implement this strategic alternative, Pfizer would have two options. The first option is to purchase an existing manufacturer of supplements and re-brand them under the Pfizer name. This alternative would allow the products to come to market sooner as the company can work with existing formulations and manufacturing processes. The other alternative is to create new formulations and develop a manufacturing plan to produce them. The marketing strategy for either alternative would be to introduce these supplements to the OTC (over the counter) retail market. We believe that the Pfizer name would make an impact on consumers and retailers would welcome this Manufacturer in their current product offerings.