...A REVIEW OF MARKETING STRATEGIES WORK BY DIFFERENT PHARMACEUTICAL COMPANIES Saurabh Kumar Saxena Department of Management, Rakshpal Bahadur Management Institute Bareilly-243001, India Mail: saxena100rabh@rediffmail.com ABSTRACT The current shift in the marketing strategy is work by multinational pharmaceutical Companies .It is now high-end (rather than adaptive) development that is being carried out by leading companies. And, increasingly, other companies are finding themselves competing against, or working with, new innovation-based companies. My study focuses on the processes and outcomes of globally distributed pharmaceutical companies. This article will present the changing marketing strategies when a pharma company shifts from Acute base to Chronic therapy base. This research paper will also give an insight about shift in supply chain process and customer and end-customer perception which is the base of formulation of different marketing strategies. Key Words: Acute, Chronic, Core, Super Core, Closing stock, Inventory, Push, Pull, End-customer, Core customer, SKUs, SAP, ERP, Primary Sales, Secondary Sales. 1.INTRODUCTION: The pharmaceutical industry is the world’s largest industry due to worldwide revenues of approximately US$2.8 trillion. Pharma industry has seen major changes in the recent years that place new demands on payers, providers and manufacturers. Customers now demand the same choice and convenience from pharma industry that they find in other segment...
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...of the body, lifestyle and food. There is a risk of exposure to toxic and microorganisms that could cause disease more or less. The mortality rate of Thai people significant including heart disease and cancer, which are the health problem directly related to consumption is not balanced. Especially in big cities. 4 things to help our health is the balance and not disease including good food, good weather, good temper and good hygiene. But in real, we lives busy and eat fast food, deli food additive, life live in pollution, stress, the pressure from family and work and not enough rest. In modern society, we need to livelihood is under lifestyle and the environment by inevitable. The best choice is to consume for good health and quality. Pharma food product has a similar general deli product. Consumers by unlimited in time and place. There is also an important element of the Functional Ingredients. Research has confirmed the benefits on health, prevent disease and also to create new options in the deli product market to consumers...
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...evaluation. The report is prepared on “The Export Potential and Strategies of BEXIMCO Pharmaceuticals Ltd”. My organizational supervisor assigned me to prepare a report on the above mentioned subject and later my faculty advisor also approved it. I have put my best effort in preparing this report and to make it a worthy one. Each aspect of the problem is considered and studied as required. I shall try my best and shall be obliged to provide you with any kind of clarification concerning this report. Sincerely yours, ____________ Md. Shoeb-Bin-Mananan Roll No.: 38 Batch : 38th (Day) Major: Marketing MBA Program Acknowledgement I would like to thank a number of people without whose help and support this report could not have been written. First and foremost, I would like to thank my organizational supervisor Mr. Rizvi Ul Kabir, Sr. Marketing Manager. Without his patience, his invaluable guidance, and his boundless enthusiasm in teaching a novice all about...
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...1. Historical background Beximco Pharmaceuticals Limited (BPL) is a part of Beximco Group, the largest private sector industrial conglomerate in Bangladesh. BPL develops, manufactures and markets both finished dosage form branded generic pharmaceutical products and active pharmaceutical ingredients (APIs), with products including solid dose forms, Metered Dose Inhalers, Nasal Sprays, Large Volume Intravenous Fluids, Suppositories, and Creams/Ointments. BPL produces and markets 'branded generics' for most diseases ranging from AIDS to cancer, from infection to asthma, from hypertension to diabetes, for both national and international markets. The company also manufactures active pharmaceutical ingredients and intravenous fluids and contract manufacture for major international brands of leading multinational companies. BPL utilizes state of the art manufacturing facilities. BPL also has outstanding reverse engineering capabilities. Incorporated in 1976, BPL started off as a distributor of pharmaceutical products. It imported products from global MNCs such as Bayer AG of Germany and Upjohn Inc. of USA and sold them in the local market. It eventually graduated to a manufacturer and distributor of these products in local market under licensing agreements. During the early 80s, BPL launched its own products in the local market. Beximco started its exports operation in the early 90s with APIs. Today BPL is one of the largest exporters of medicines from Bangladesh. BPL employs more...
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...Indian Pharma industry : Example Entities Involved CFA: most companies’ keep 1- 3 CFAs in each target Indian state and total CFAs are 25-35. Ranbaxy has 28 CFAs across India Stockist: 5-15 depending on city area Retail Pharmacy Basic Distribution structure Distribution chain of ABC company in Andhra Pradesh Typical Supply chain Distribution Structure Normally two types of supply chain models are followed: 1. Replenishment based model: This is most suited in a dynamic environment where demand, features, quality required, change very often. In such scenario there should not be any excess or shortage of inventory at stockist/sub stockist or retailers end. Manufacturer need to bear higher cost of transportation in this model at the cost of greater responsive at stockist and retailers end. Teva Pharma, a major generic pharma company based out of Israel follows replenishment based system. 2. Forecast based model: suited in an environment where upcoming demand will be similar to the forecasted one i.e. demand, features required are not changing very often. Manufacturer’s transportation cost goes down. This model fails when product specifications or demand change rapidly resulting in excess/shortage of inventory Typical sales force structure in Pharma industry A large pharmaceutical company in India is usually divided into strategic business units (SBUs) based on therapeutic areas like cardiology, urology etc. Sales force is structured under each therapeutic...
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...The Pharma Innovation Journal 2014; 3(7): 08-12 ISSN: 2277- 7695 TPI 2014; 3(7): 08-12 © 2013 TPI www.thepharmajournal.com Received: 14-08-2014 Accepted: 28-08-2014 Rizwan Raheem Ahmed Professor, Department of Business Administration & Commerce Indus University, Pakistan Pharmaceutical marketing mix strategy and physician’s prescription behavior Rizwan Raheem Ahmed ABSTRACT Purpose: This research paper gives an insight about the processes used by local and MNCs pharmaceutical companies in Pakistan.The purpose of our research is to examine that what factors affect physician prescription behavior based on ethical grounds. Methodology: This research focuses on the strategies and marketing tools used by pharmaceutical companies in Pakistan, and how Physicians behave against all these marketing strategies in terms of Prescription patterns. The questionnaire survey method is used for data collection and SPSS is used for Correlation and Regression techniques for the understanding of Physician’s prescription behaviour. Findings: The data analysis figuring out the correlation of these variables with the subject of the study i.e. factors influencing the prescribing behavior of the physician. The data shows the significance level of individual independent variable as Promotional tools. According to the results of Multiple Regressions Analysis (MRA) the researchers can conclude that independent variables have significant relationship with dependent variable. Therefore other all hypotheses...
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...Paper Report On Competitive Marketing Policies & Strategies Of Pharmaceutical Products in Bangladesh Submitted to Mr. Abdus Samad Chowdhury Senior Management Councilor Bangladesh Institute of Management Submitted By MD. MAHAFUZUR RAHMAN ID: 14MM028 Post Graduate Diploma In Marketing Management Date of Submission 21-12- 2014. Bangladesh Institute of Management Department of Marketing Management Letter of Transmittal December 21, 2014 Mr. Abdus Samad Chowdhury Bangladesh Institute of Management Subject: Request to accept my term paper report on competitive marketing policies & strategies of Pharmaceutical Products in Bangladesh. Dear Sir, I have given a topic on “Competitive Marketing Policies & Strategies of Pharmaceutical Products in Bangladesh” for writing a term paper for presentation, collection of primary data and secondary data. To do so, we sought the relevant information from books, newspaper and websites. We also went to many respondents who are closely related this entire process. I tried to collect all possible information and make this paper acceptable to all but there can be still existing mistake. So we like to request you to consider if any fault is found in this paper. Finally I would like to request you to accept our paper and permit us to present it before the panel of experts. Yours Sincerely Md. Mahafuzur Rahman Roll No : 14MM028 Post Graduate Diploma in Marketing Management. Bangladesh Institute...
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...Existing scenario with customers(Gluco-one) | | | | | Organized confectionery(NCC) | Unorganized Confectionery (ABC) | MNC Pharma 1 | MNC pharma 2 | Unorganized but branded producer:-Anand sweets | Unorganized unbranded producer Eg:-Ok Confectioneries | Regular supply (Every 6days delivery) | Delivery crucial | Delivery crucial | Delivery crucial | Delivery crucial | Delivery crucial | Not sensitive to price | Price sensitive | Price sensitive but negotiable | Price sensitive but negotiable | Not price sensitive | Price sensitive | Rigid quality testing | Not so rigid quality testing | Highly rigid quality specifications | Rigid quality specifications | | | Competition from 4 players | Competition from other players | * | * | 2-3 suppliers | 2-3 suppliers | Preference to A-one | Can opt for any supplier | No confidence in A-one | Preference to A-one given it proves its quality | | | 450 supply by A-one | | | | | | Whole demand is 3000 | | whole demand is 500 tonnes per year | | Whole demand is 6500 tonnes/year | | Quality conscious | Quality conscious | Quality conscious | Quality conscious | Quality conscious | Not quality conscious | Constant composition of glucose in products | No constant composition | Constant Composition | Constant composition | Constant composition | No Constant composition | | Complaints of above company:- | Complaints of above company:- | Complaints of above company:- | | | General concerns of...
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..., COMPANY PROFILE Company profile-Novus pharmaceuticals ltd is a new strategies business unit (SBU) of Abdul Monem group. The group has a long reputation as the best road construction company of the country. More over the group has two block buster brands Coca-Cola, igloo ice-cream. Bangladesh pharmacy markets have known to be one of the best value addition sectors among all industries. With better urbanization and economic upliftment people will have more access to modern medicines. Novus will capitalize this opportunity by offering highest quality medicines at an affordable cost to serve people locally and globally. Combining the group image and applying appropriate marketing strategies Novus will established itself as a leading player Bangladesh pharmacy market. Company Index Score Current Index Score Historical Index Score * Novus Pharmaceuticals Ltd. currently scores 50% in the index. * Novus Pharmaceuticals Ltd. is currently ranked equal 10 out of 4206. This is in the top 0.24% of Parma companies ranked in the index. * Novus Pharmaceuticals Ltd. is currently ranked equal 19 out of a total of 35419 included in the Info Grok Company Index. This is the top 0.05% of all companies. * User perception of the company stands at 50%. This differs 0% over the score attributed to the company by other scoring factors. Mission & Vision Mission To become the most valued partner of customer care by researching...
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...Business Model MODEL (A) Current global market research indicates a significant growth of pharmaceutical products, in spite of the sluggish economy in 2010. The forecast indicated market growth of about 4% to 6% in 2010 exceeding US$ 825 Billion. The global pharma market will experience 5% to 7% growth in 2011 resulting in an overall market value of US$ 880 Billion. Asia Pacific Pharmaceutical Market is expected to grow around 12.6% during 2010 – 2012. Middle East – African Pharma Market is projected to grow at around 11% during 2010-12. The development of infrastructure and rapidly changing regulations in this region are being seen as reasons for its growth. Furthermore, there is a high prevalence of diseases and huge population base that increases the overall need for pharma sales in this part of the world. Presently South Africa, Saudi Arabia and Israel dominate the region’s pharma industry due to their better infrastructure and regulatory environment. The market potential of the African pharmaceutical sector is enormous and business opportunities abound. However, the Middle East depends on imported pharmaceutical products and therapeutics. In the Third World and under-developed countries, medicines are required for preventable or curable diseases like malaria, tuberculosis, acute-respiratory infection, influenza, meningitis, etc. The current trend is more focused on cures for problems such as impotence, baldness and ageing because it’s more profitable; and less...
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...Marketing Mix Analysis and Competitors Evaluation: A study on 2011 ABDUL MONEM LTD. BANGLADESH Prepared for RODRICK, STANLEY SUMON ID: 1001-1017-2 Faculty of Marketing AMERICAN INTERNATIONAL UNIVERSITY-BABGLADESH Prepared by ABIR, MD. ZABER TAUHID ID: 10-15556-1 i “Marketing Mix (4 P’s) Analysis and Competitors Evaluation: A study on Abdul Monem Ltd. Bangladesh” ii LETTER OF TRANSMITTAL April 26, 2011 Mr. Stanley S. Rodrick Lecturer, Faculty of Business Administration Department of Marketing American International University- Bangladesh Subject: Submission of report on “Marketing Mix (4 P’s) Analysis and Competitors Evaluation: A study on Abdul Monem Ltd. Bangladesh” Dear Sir, We are pleased to attach here with a copy of the report on “Marketing Mix (4 P’s) Analysis and Competitors Evaluation: A study on Abdul Monem Ltd. Bangladesh” This report is a summary of our findings from the tasks we have been given to complete. We completed the report on schedule and tried to meet our entire proposed objective within the allotted schedule. Finally, we are truly grateful to you for giving us this nice opportunity to work on this report, which we have considered as a great chance for us to develop our Marketing skills. Thank you. Yours Sincerely, ABIR, MD. ZABER TAUHID 10 – 15556 – 1 iii Acknowledgement I’m heartily thankful and like to acknowledge my teacher, Mr. Stanley S. Rodrick (Lecturer, Faculty of Business Administration, Department...
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...However the high price of the drugs maintained during their exclusivity period afforded opportunities to generic manufacturers to develop substitute products. To mitigate against this, patent holders used a multitude of approaches including patent extensions, the courts, and formula modifications to try prolong the market exclusivity period. In spite of this, generic manufacturers have managed to systematically erode the exclusivity period of blockbuster drugs with alternative products available within months of a blockbuster release. To mitigate against the threat of generics Novartis strengthened its generic business in 2002 by acquiring Lek, one of the leading Pharma and generic companies in Eastern...
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...STRATEGIC HEALTHCARE MARKETING Indian School of Business Term 7 January 6th – February 16th 2014 Thani Jambulingam Ph.D Associate Professor Pfizer Fellow, Arrupe Center Research Fellow Department of Pharmaceutical & Healthcare Marketing Saint Joseph’s University Philadelphia, PA 19131 THANI JAMBULINGAM PH.D. Associate Professor in the Department of Pharmaceutical and Healthcare Marketing at St. Joseph's University, Erivan K. Haub School of Business, Philadelphia, PA. Currently he teaches in Executive Pharmaceutical and Healthcare MBA program (both traditional and online formats, MBA program and undergraduate program in Pharmaceutical and Healthcare Marketing. Thani was instrumental in starting the undergraduate and online programs at SJU. He served as the chair of the pharmaceutical and healthcare marketing department from 2003-2010. Ranbaxy in sales and at Glaxo Inc. in sales and marketing for several years before he returned to school and completed his Ph.D. at University of Wisconsin, Madison. His research interests are in health care marketing, strategy, supply chain and pricing. His work has been published in several journals, such as the, International Journal of Pharmaceutical and Healthcare Marketing, Journal of Medical Marketing, Journal of Pharmaceutical Marketing and Management, Journal of Commercial Biotechnology, Journal of Research in Pharmaceutical Economics Journal of International Marketing, Journal of Operations Management...
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...Personal Care 11 OTC Medicines 11 Cosmetic 12 Fitness Centre 12 3.4 Shipping and Handling Fees 12 4.0 Strategic and Market Analysis 13 4.1 Economic Outlook 13 4.3 Customer Profile 13 4.4 Competition 14 5.0 Marketing Plan 17 5.1 Marketing Objectives 17 5.2 Marketing Strategies 17 5.3 Pricing 18 The Company believes in healthy Competition, so we will offer our Products at competitive Price. The Company will offer discounts on the large order or at wholesale Quantity. 18 6.0 Organizational Plan and Personnel Summary 18 6.1 Corporate Organization 18 6.2 Organizational Budget 19 6.3 Management NOTE: 20 7.0 Financial Plan 23 7.1 Underlying Assumptions 23 7.2 Sensitivity Analysis 23 7.3 Source of Funds 24 7.4 General Assumptions 24 Monthly Sales Revenue (PROJECTED) 25 Yearly Sales Forecast 26 7.5 Profit and Loss Statements 27 Executive Summary The Summit, RX Inc. (hereafter, “The Company”) business plan provides the structure and focus against which we can measure future financial positions for success in the near and far term. It serves as a road map to establishing our operations in the U.S., our first endeavor into foreign markets. Summit Rx Inc is a wholly owned and closely held subsidiary of Brahmshit Pharma, LTD. Pty, of Gujart India. Summit is incorporated in the State of Deleware, and maintains its corporate offices in New Jersey. Incorporation date was...
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...CLBS-004 Cavinkare’s Innovative Marketing Strategies CavinKare’s Fairever fairness cream, with the USP of ‘a fairness cream with saffron’ op y acquired a 15% share, and F&L’s share fell from 93% (in 1998) to 76%. Within a year of its launch, Godrej’s FairGlow cream became the third largest fairness cream brand, with a 4% share in the Rs. 6 billion fairness cream market in India. The other players, including J.L. Morrison’s Nivea Visage fairness cream and Emami Group’s Emami Naturally Fair cream, had the remaining 5% share. During 2000-01, with tC major players entering the market, the existing products were promoted with renewed vigor through price reductions, extra volumes, etc. Many products were marketed aggressively. While Fair & Lovely (F&L) advertisements projected fairness No comparable to the moon’s silvery glow, FairGlow offered the added benefit of a blemish-free complexion. Fairever, which sold at a higher price, did not initiate any promotional activities. B. Nandakumar, President (Marketing) CavinKare, explained, “We will not tailor our product to the competition. We’ll do so for the consumer. Freebies are not the only Do way to garner sales.” However, analysts believed that CavinKare did not undertake any promotional activities due to lack of financial muscle. CavinKare’s Fairever was available only in tubes of 25gm and 50gm, and was also priced higher than its competitor’s products. A 25gm Fairever tube was priced at Rs...
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