...Profit Profit - the difference between the purchase price and the costs of bringing to market. - Is any amount of money that is left over from a company after all financial expenses have been paid. It is the money they are able to save once the business purchases have been made. - Is the money a business makes after accounting for all the expenses. - The positive gain from an investment or business operation after subtracting for all expenses. Opposite of loss. Different profit concepts 1. Normal profit is the minimum level of profit needed for a company to remain competitive in the market. - Occurs at the point at which the resources available to the firm are being efficiently used and could not be put to better use elsewhere. It is important to note that zero economic profit does not mean that the company is not earning any money (accounting profit). It is simply a measure of how well resources are being used relative to all possible options. 2. Sub-normal profit – is any profit less than normal profit (where price is less than average total cost). 3. Abnormal Profit – is any profit achieved in excess of normal profit – also known as supernormal profit. When firms are making abnormal profits, there is an incentive for other producers to enter the market to try to acquire some of this profit. Abnormal profit persists in the long run in imperfectly competitive markets such as oligopoly and monopoly where firms...
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...Contents About the Authors Preface to the Second Edition Preface to the First Edition Acknowledgements Brief Contents 1. Introduction to Sales and Distribution Management Introduction 1 Evolution of Sales Management 1 What is Sales Management? 2 Nature and Importance of Sales Management 2 Relationship Selling 3 Varying Sales Responsibilities/Sales Positions 4 Importance of Personal Selling and Sales Management 4 Role and Skills of Modern Sales Managers 4 Skills of a Sales Manager 6 Types of Sales Managers/Sales Management Positions 6 Top-level (Strategic) Sales Managers 6 Middle-level (Tactical) Sales Managers 7 First-line (Operational) Sales Managers 7 Staff Sales Management Positions 8 Sales as a Career 8 Rewards in Sales Career 8 Salesperson to Sales Manager 9 Changing Role of a Salesforce 9 Women in Sales 11 Sales Objectives, Strategies and Tactics 12 Sales Objectives 12 Sales Strategies and Tactics 12 ii vii ix xiii xv 1 xviii Contents Emerging Trends in Sales Management 13 Global Perspective 13 Revolution in Technology 14 Customer Relationship Management (CRM) 14 Salesforce Diversity 14 Team Selling Approach 14 Managing Multi-channels 15 Ethical and Social Issues 15 Sales Professionalism 15 E-Selling 16 Linking Sales and Distribution Management 16 Distribution Channels 18 Maximising Customer Service 18 Sales Operations Planning 19 Summary 20 Glossary of Key Terms 21 Conceptual Questions 22 Objective Type Questions 23 Application Questions 24 Reference Notes 24...
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...U.S. Pharmaceutical of Korea* U.S. Pharmaceutical of Korea (USPK) was formed in 1969. Its one manufacturing plant is located just outside Seoul, the capital. Although the company distributes its products throughout South Korea, 40 percent of its total sales of $5 million were made in the capital last year. There are no governmental restrictions on whom the company can sell to. The only requirement is that the wholesaler, retailer, or end user have a business license and a taxation number. Of the 400 wholesalers in the country, 130 are customers of Ball-McCulloch-Frantz- Geringer-Minor: The Swiss pharmaceutical global corporation Hoffman-La Roche has made a major breakthrough in the relief of a serious disabling disease that affects 3 percent of the world’s population. Its new product Tigason is the first product that effectively controls severe cases of psoriasis and dyskeratoses, skin disorders that cause severe flaking of the skin. Sufferers from this disease frequently retreat from society because of fear of rejection, thus losing their families and jobs. Tigason does not cure the disease, but it causes the symptoms to disappear. There is one potential problem. Because of the risk of damage to unborn babies, women should not take the drug for one year before conception or during pregnancy. Hoffman-La Roche is well aware of the potential for harm to the company if the product is misused. It has seen the problems of another Swiss firm, Nestlé. After much discussion, the...
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...This report is to be submitted as "2008 Korea Pharmaceutical Industry Directory" as part of the "Actual analysis of Korean pharmaceutical Industry", Korea Health Industry Development Institute(KHIDI)'s own project. December 2008 ￭ ￭ ￭ • ⅰ Chapter 1. Outline of The Project 1. Objectives and Background of Investigation ◦The existing directory book has indicated limitations in promoting Korean pharmaceutical industry internationally or domestically, failing to offer practical help. ◦For this reason, this investigation is to have a thorough grasp of ranges of business and current status of investments and technology by pharmaceutical and companies to utilize and in to strengthen their industrial by competitiveness promoting them overseas collecting and offering basic data needed for promoting transfer of technology with home and abroad institutions. ◦Also, necessity for systematic and detailed data of industrial current status that can be utilized by companies who are making commitment for the development of pharmaceutical industry. 2. Targets and Contents of Directory Book 1) Targets for directory book •Korean Pharmaceutical companies: 81 companies. 2) Contents of directory book •Investigation items 3. Method and Way for Utilization 1) Method □ Ways to select investigation targets and to promote them were developed through consultation from consultation committees and domestic pharmaceutical companies (including unlisted ones) ◦Investigated...
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...‘U.S. Pharmaceutical of Korea” Case Study 3 Abstract: This case is about US Pharmaceuticals of Korea (USPK). US Pharmaceuticals of Korea sells throughout Korea because there are no selling restrictions, only that the sellers they use have a business license and a tax ID. A wholesaler has created a drug that helps to control sever cases of a debilitating disease. They were reluctant to market it, but because the drug could help those afflicted with it, they decided to market it anyway. Due to this, the marketing department is looking for a distributing strategy. Tom Sloane is the marketing manager for USPK and he would like to improve the percentage of the company sales by majority being company direct sales to retailers with the remaining small percentage to high volume users. One of his dilemmas are to make this happen with the large volume of small retailers involved, also, the competition that USPK has also effects its receivables. Another problem is that many wholesalers are understaffed and have to rely on “drug peddlers” for sales; this affects their bottom line selling price. These issues lead to wholesaler/retailer price lists. Sloan believes that the industry can help in solving the price competition. 1. What should Tom Sloane and U.S. Pharmaceutical of Korea do to improve collections from wholesalers? I think the best thing that Tom and U.S. Pharmaceutical of Korea could do, would be to have sales agreement and policies that are laid out and agreed...
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...Concurrent Events : 2011 DHAKA, BANGLADESH 24-26 FEBRUARY-2011 The 8th International Exhibition on Asian Pharmaceutical Industries THE GATEWAY TO THE SOUTH ASIAN PHARMA MARKET Join with Expected Exhibiting Companies 450 Over Trade Professionals 9000 On sq. mt. Floor-space 8500 From Countries 28 VENUE : Bangabandhu International Conference Centre, Dhaka. Bangladesh ORGANISED BY SUPPORTED BY Bangladesh Association of Pharmaceutical Industries Bangladesh Aushad Shilpa Samity OFFICIAL ONLINE MEDIA If South Asia is your market, APE 2011 is your show www.asiapharma.org 2011 DHAKA, BANGLADESH 24-26 FEBRUARY-2011 Bangladesh Association of Pharmaceutical Industries Bangladesh Aushad Shilpa Samity ORGANIZING COMMITTEE CHAIRMAN Mr. Salman F Rahman PRESIDENT'S MES SAGE Vice-Chairman, Beximco Group CONVENOR Mr. Adbul Muktadir We, Bangladesh Association of Pharmaceutical Industries (Bangladesh Aushad Shilpa Samity) are delighted to inform you about the forthcoming international exhibition on South Asian Pharmaceutical industry – ASIA PHARMA EXPO- 2011 to be held in Dhaka from 24 to 26 February 2011. The South Asian Pharmaceutical market is currently experiencing unprecedented growth and as a result the ASIA PHARMA EXPO provides unlimited opportunity to all related business and trade professionals. In all our previous Asia Pharma Expo events, the participants from neighboring countries and other parts of the world...
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...Indian Pharmaceutical Industry The Indian pharmaceutical industry has seen tremendous growth in the last decades and is one of the fastest growing pharmaceutical markets in the world. It is the fourth largest pharmaceutical market in the Asia Pacific region behind Japan, China and South Korea. However, the per capita spending of US$12 is among the lowest in the world, similar to levels in Pakistan and Vietnam. .India accounts for almost 10% of the global market by volume and is rapidly emerging as the leading outsourcing partner of global pharmaceutical companies, strengthened by improving Research and Development (R&D) focus and strategic position in the pharmaceutical value chain. The Industry structure of Indian Pharmaceutical sector is highly fragmented with more than 20,000 registered units with severe price competition and government price control. There are about 3,000 pharmaceutical manufacturers, the vast majority of which focus on generic drugs. The major players in the industry are Ranbaxy, Cipla, Dr. Reddy's Laboratories, Lupin, Nicolas Piramal,Aurobindo Pharma, Cadila Pharmaceuticals, Sun Pharma, W Wockhardt Ltd. and Aventis Pharma. The industry encourages international interest because of the growing population and economic improvements . Furthermore, initiatives of the Government such as allowing 100% FDI under the automatic route in drugs and pharmaceuticals including those involving use of recombinant technology act as a catalyst for growth. The...
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...particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Reasdfsefdsfdgrththl GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012vdsvsdv, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub. | | | GDP (purchasing power parity): | | $331.9 billion (2012 est.)country comparison to the world: 41$327.6 billion (2011 edsvdsvst.)$311.5 billion (2010 est.)note: data are in 2012 US dollars | | | GDP (official exchange rate): | | $276.5 billion (2012 est.) | | | GDP - real growth rate: | | 1.3% (2012 est.)country comparison to the world: 1565.2% (2011 est.)vsvsd14.8% (2010 est.) | | | GDP - per capita (PPP): | | $61,400 (2012 est.)country comparison tvdsvsdso the world: 7$61,700 (2011 est.)$60,100 (2010 est.)note: data are in 2012 US dollars | | | Gross national saving: | | 45.6% of GDP (2012 est...
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...American and European markets to spread their wings and become the global players. The Indian IT and ITES companies already have a strong presence in foreign markets, however, other sectors are also now growing rapidly. The increasing engagement of the Indian companies in the world markets, and particularly in the US, is not only an indication of the maturity reached by Indian Industry but also the extent of their participation in the overall globalization process. Here are the top 10 acquisitions made by Indian companies worldwide: |Acquirer |Target Company |Country targeted |Deal value ($ |Industry | | | | |ml) | | |Tata Steel |Corus Group plc |UK |12,000 |Steel | |Hindalco |Novelis |Canada |5,982 |Steel | |Videocon |Daewoo Electronics Corp. |Korea |729 |Electronics | |Dr. Reddy’s Labs |Betapharm |Germany |597 |Pharmaceutical | |Suzlon Energy |Hansen Group |Belgium |565 |Energy | |HPCL...
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...Prospects Of Market Volumes And Shares Economics Essay Nanotechnology qualifies for having a major impact on the world economy, because nanotechnological applications will be used in virtually all sectors. Scientists, researchers, managers, investors and policy makers worldwide acknowledge this huge potential and have started the nano-race. Prospects of Market Volumes and Shares The NSF [1] estimated a world market for nanotechnological products of $1 trillion for 2015. Depending on the definition of nanotechnology and its contribution to added value of the final products as well as the degree of optimism, many other forecasts vary between moderate $150 bn in 2010 [2] and $2.6 trillion in 2014 [3] . The latter, most optimistic scenario would imply that the market for nanotechnology-based products would be larger than the prospected information and communication technology market and would exceed the future biotech market by ten times. The forecasts differ significantly from each other, but have common thread in that they predict a substantial increase of the market for nanotechnological products with a take off some when in the early 2010s. The figures presented above show the possible direction, but are not adequate for deeper analyses of the development of the nanotechnology market. Lux Research and the NSF have both spent some efforts in breaking the figures down in nanotechnology subfields, the first in an analysis of 5 years in the past (1999-2003), the NSF shows the expected...
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...market, look for efficiency, and also to look for political security. In short, Foreign Direct Investment is known as an investment made by a company or entity based in one country, into a company or entity which is based in another country. * According to BKPM (Indonesia Investment Coordinating Board), the realization of Foreign Direct Investment, usually mentioned as FDI, could be differentiated based on several aspects, namely sector, location, and also country of origin. * Speaking about statistics, for the time period between January to June 2013, based on sector, FDI has taken part at mining industries (US$ 2.6 bn, 18.4%), transport equipment and other transport industries (US$ 1.9 bn, 13.2%), chemical and pharmaceutical industries (USS$ 1.8 bn, 12.5%), metal, machinery, and electrical industries (US$ 1.7 bn, 12.1%), food industries (US$...
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...for X X is among top generic pharmaceutical companies in the Europe. X’s basic line of business is the production and sale of prescription pharmaceuticals, non-prescription products and animal health products. Products are sold in five different regions: Slovenia, Central Europe, South-East Europe, East Europe, West Europe and Overseas Markets. I have done analysis of lately published report and company long term strategy from annual report. I suggest for company has to invest into countries ensuring demand in the future and developing. As well it is important to evaluate possibility to expand further in terms of country development in size and going to other regions. X is mostly acting in Europe and I think that company has to search for investment opportunities inside Europe. Turkey is as important as the BRIC countries in terms of its vast potentials and I have selected Turkey as country to invest. X can use Turkey in three selected directions: 1. Market with huge potential at the moment and bigger in the future; 2. Production capacities; 3. A bridge for further development to other East countries. Bellow I will list reason to go for and few risks company has to take into account. Macroeconomics reasons: GDP growth. Turkey will have one of biggest GDP growth in short term and long term compared to Emerging Europe and CEE. Economy size. Currently Turkey is biggest in CEE in population, which leads to No. 16 by GDP (PPP) in US Dollars. Turkey intends to become...
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...7/1/2011 Contents Introduction 2 What is clinical research? 2 The state of health in India 2 Clinical Research Market in India 3 Factors that Continue to Make India Attractive for Future Clinical Trial Outsourcing: 4 Challenges for the Indian Clinical Research Industry 6 Cinical research profession 7 Conclusion 8 Introduction Successful persons in business are noted to be blessed with innovation, perseverance and a broad vision. Its critical to have the “big picture” in mind while we want to position and well-establish the smallest things, after all the intensity of effect that something can cause cannot be under-estimated. A tiny sim-card that provides enormous data and communication coverage, an atom bomb which caused ruthless destruction in Japan, a small silicon chip that provides powerful processing speed in our computers, a tablet of aspirin that at times saves life; none can be ignored. It is important, thus, to identify the patterns, the trends, the relationships between smaller items in the “big picture” to channelize our efforts towards a unique direction. Behind every innovation lies a unique idea, and behind every successful idea lies the large audience it will cater to. Clinical research is one such area that can help a large population with some of their grave needs through small yet life-changing discoveries. What is clinical research? As per wikipedia.com, “Clinical research is a branch of medical science that determines the...
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...South Korea. Background information: After World War 2 japan recovered very rapidly and had economic boom. Japans economic growth was very high. Here is a table showing Japan’s economic growth. Behind this scenario were couple essential factors: JETRO- japans external trade organization, MITI- ministry of international trade and Industry, after renamed to METI- Ministry of Economy Trade and Industry, Sogo-Shosho independent trading houses, Japan bank for international corporation, Institute of developing economies under METI and Ministry of Finance. MITI: Combining to two different sectors under single ministry already emphasizes how long oriented and strategic meaning it carries. The main engine of Japanese economy was industry that includes- machinery, high-tech, etc… And coming to trade it is also main accumulator of Japans GPD. Japans economy relies on export mostly. Japan in early 80-90 had huge gap of budget surplus. It exported much more than it imported and that imbalance between export and imports directly influenced US economy. Japan had and still has very exclusive channel distribution. Foreign companies cannot directly sell to japan. There are many informal barriers for foreign companies. More than that Japanese companies used predatory pricing strategy wherever they go. They set aggressive pricing strategy against competitors that couldn’t survive in market. In addition to these, Japanese yen until Plaza Accord were playing significant role against US dollar...
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...SQUARE SQUARE today symbolizes a name – a state of mind. But its journey to the growth and prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship company, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and is now on its way to becoming a high performance global player. SQUARE Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the 1st position among all national and multinational companies since 1985. It was established in 1958 and converted into a public limited company in 1991. The sales turnover of SPL was more than Taka 7.5 Billion (US$ 107.91 million) with about 16.92% market share (April 2006– March 2007) having a growth rate of about 23.17%. History of SQUARE Group |1958 : | |Debut of Square Pharma as a Partnership Firm. | | | |1964 : | |Converted into a Private Limited Company. | | ...
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