Propoliz อดีตรั้งท้าย สู่ยาพ่นอันดับ 1 | The Secret Sauce EP.632
Short Summary:
This episode of "The Secret Sauce" features an interview with the CEO of T Man Pharmaceutical, discussing the company's journey from a small, family-run business to a leading producer of over-the-counter medications in Thailand. Key points include their successful development of two flagship products: Ayarah (cough syrup) and Propoliz (throat spray). The company's success is attributed to a three-pronged framework focusing on customer needs, company core values, and competitive advantages (finding their "Winning Zone"). The interview details their innovative product development process, emphasizing market research, consumer insights, and a rigorous R&D process that prioritizes efficacy, safety, and palatability. The company's future strategy involves expanding their "Natureutical" line, focusing on natural ingredients with scientifically proven efficacy, safety, and quality.
Detailed Summary:
The interview begins with an introduction to T Man Pharmaceutical and its two successful products, Ayarah cough syrup and Propoliz throat spray. The company's history is highlighted, starting with the founder (the CEO's father), who began working in a Chinese medicine shop and eventually established his own pharmaceutical factory. The second generation, the current CEO, leveraged his family's experience and his mother's pharmaceutical background to build upon the company's foundation.
Section 2: Overcoming Industry Challenges and Identifying a New Market:
The CEO discusses the challenges of the traditional pharmaceutical industry, including slow growth, long time-to-market for new drugs, and intense price competition in hospital tenders. They recognized a growing trend towards natural health products in international markets and decided to leverage their existing distribution network to enter this segment. This shift marked a move from treating illnesses (pharmaceutical) to preventing them (health care). The key difference highlighted is that the health care market offered significantly higher growth potential than the traditional pharmaceutical market.
Section 3: Developing Ayarah and the Product Development Process:
The development of Ayarah cough syrup is presented as a case study. The company invested heavily in R&D, experimenting with various herbal extracts before settling on a formula that combined efficacy with a palatable taste. This involved extensive testing and a focus on addressing consumer pain points (ineffective existing products and unpleasant taste). The R&D process is described as iterative, involving market research, product prototyping, and consumer testing. The company's approach is compared to that of a startup, emphasizing innovation and a data-driven approach. The success of Ayarah is attributed to its superior efficacy and pleasant taste, leading to its position as a top-selling herbal cough syrup. The company also employed segment marketing, creating variations of Ayarah tailored to different age groups (e.g., sugar-free version for seniors).
Section 4: Propoliz and the Importance of Market Positioning:
The development of Propoliz throat spray is discussed next. The company identified a gap in the market: while existing throat sprays addressed pain relief, they lacked effective antimicrobial properties and often had unpleasant tastes. Propoliz, using propolis extract, addressed both issues. The company's strategy was not to directly challenge the market leader but to establish itself as a strong number two, focusing on educating the market about the benefits of propolis and building a strong customer base. The unexpected surge in demand during the COVID-19 pandemic propelled Propoliz to the number one position in its market segment. The CEO attributes this success to a combination of preparedness (increased production capacity) and favorable market conditions.
Section 5: The "Winning Zone" Framework and Future Plans:
The CEO outlines the company's three-dimensional framework for product development: customer needs, company core values, and competitive advantages ("Winning Zone"). He emphasizes the importance of customer insights, gathered through direct interaction with customers and retailers. A failed product launch (herbal tea for coughs) is used to illustrate the importance of thorough market research and realistic expectations. The company's internal "PCOM" (Product Committee) process is described as a mechanism to mitigate risk and improve decision-making in product development. The company's future strategy centers on expanding its "Natureutical" line, combining natural ingredients with advanced pharmaceutical manufacturing techniques to create high-quality, effective, and safe products. This involves collaborations with universities and other research institutions. The CEO expresses confidence in the future of the health care market, acknowledging potential disruptions from biotechnology but emphasizing T Man's adaptability and preparedness. The interview concludes with a discussion of leadership and fostering collaboration within the company. The CEO highlights the importance of an innovative mindset and inclusive collaboration to drive innovation and achieve company goals.