StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Essay example - The Global Pharmaceutical Industry

Only on StudentShare
Ph.D.
Essay
Marketing
Pages 4 (1004 words)
Case Study: The Global Pharmaceutical Industry: Swallowing a Bitter Pill The global pharmaceutical industry was appropriately described in terms of being characterized as dynamic, evolving and characterized by “the highly risky and lengthy R&D process, intense competition for intellectual property, stringent government regulation and powerful purchaser pressures” (Holland, 2010, p…

Extract of sample

Macro-environmental factors were identified by Vrontis and Pavlou (2008) as consisting of forces such as socio- cultural, political, legal, environmental, economic and technological (p. 290). Using PEST-L analysis to prepare for strategic plans in taking advantage of opportnities in the external environment and addressing eminent threats (Byars, 1991; Cooper, 2000; Morden, 2007), one understands that the consumers of the pharmaceutical industry are patients who need the drugs and medications to address various health concerns. As the prices of medicines were highly dependent on the amount, level and extent of research and development, consumers have no control nor say on the strategies involving prices. As shown in the chart on one of the branded prescription drugs marketed in the U.S., when compared to other areas around the world, the chart would reveal that the price of Lipitor was highest in the U.S. (refer to Appendix A). Buyer power, a tool in Porter’s five forces, is therefore considered restricted and limited as it is highly dependent of the prices dictated by drug manufacturers. In addition, the demographic profile of consumers affect and influence strategies designed by drug manufacturers as these profiles affect the demand and purchase of the products. ...
Download paper
Not exactly what you need?

Related papers

Lupin Marketing plan
The project highlights the top competitors of Lupin in US and also stated the strategy that Lupin should implement in order to succeed in the US market. The Porters Five forces have been used to analysis the attractiveness of the industry, SWOT to determine the internal and external factors of Lupin Pharmaceuticals. Perceptual map has also been prepared to analysis the competitor’s position in…
15 pages (3765 words)
Marketing Plan: The Cambridge Science Pharmaceutical (CSP)
This essay focuses on presenting the marketing plan for a Metabical drug that is produced by the Cambridge Science Pharmaceutical (CSP) company and will only be comprehensive if it follows or considers a comprehensive and strong marketing communication strategy that focuses on the Metabical benefits and the brand awareness that is directly targeting the target group. Moreover, effective and a…
11 pages (2761 words)
Marketing strategy
The pharmaceutical industry is highly concentrated and only a few companies are doing well in the industry. The main aim of this study is to analyze the marketing strategies adopted by GlaxoSmithKline Plc; a London based pharmaceutical company (Chaffey et al., 2008). The study would also analyze the factors affecting the marketing strategies implemented by GlaxoSmithKline Plc. Since, the company…
12 pages (3012 words)
Analysing Companies: Business Models, Narrative and Numbers about a pharmaceutical company
While studying the business model, prominent issues like intellectual property right disputes and financial data of Pfizer would also be taken into account so that every dimension of the business model can be presented. Before presenting the business model, the theoretical concepts of business model is explained, so that the readers have an idea regarding the strategies that are incorporated to…
9 pages (2259 words)
Marketing plan
The pharmacy has also gained economies of scale through selling larger quantities of drugs with less labor as the larger consumers order through mail order. The pharmacy expects a large number of customers since most Americans are on continuous medicine prescription. The Best Cure Pharmacy plans to increase its market share through targeted advertising in order to increase the number of customers…
8 pages (2008 words)
Prepare a marketing plan for a company of your choice for the next one and three years
GSK has a unique mission statement which explains their aim and (objective of) providing consumers with new products and with more improved projects. The following essay elaborates the marketing plan of the company by describing the current scenario of the industry and also GSK. SWOT analysis identifies the strength and weakness and also the opportunities and threats of GSK that are changing from…
11 pages (2761 words)
Global Marketing - Automotive Industry
. 2.3 Current target market. 2.4 Current strategy. 3.0 PESTLE analysis. 3.1 SWOT analysis. 3.2 Porter’s Five Forces analysis. 4.0 Entry strategies. 5.0 Marketing strategy. 5.1 Brand. 5.2 The 4Ps. 5.3 Pros and cons of going global. 5.4 Related demographics.
16 pages (4016 words)