Pfizer: Alternative Strategies

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  • Topic: Marketing, Erectile dysfunction, Eli Lilly and Company
  • Pages : 2 (514 words )
  • Download(s) : 82
  • Published : March 15, 2011
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3.0ALTERNATIVE STRATEGIES
3.1Acquire potential competitors Strategy (Attack & Conquer) There are more than a hundred pharmaceutical companies in the United States alone, and over 42 large international pharmaceutical companies. Pfizer is one of the largest pharmaceutical companies in the world and has extended its reach to more than a hundred countries around the globe. Therefore, Pfizer has more advantages in term of the size. One of the alternative strategies Pfizer can implement is to acquire potential competitors who have strong R&D and international ties in marketing the erection dysfunctional product. The possible acquisition is Bayer/GSK and also Lily ICOS because of their extensive network throughout the globe. It was a good move for Pfizer to establish international ties with many countries since it may strengthen their stronghold, not only in that country but globally as well, increasing its edge against other ED giants and then, conquer the market share for erection dysfunctional market. Also, establishing stronghold in other countries could potentially mean new breed of clients. Also, this could help Pfizer move to create better and higher quality product with fewer side effects. Furthermore, this can help establish and strengthen economic and international ties. By becoming a bridge between two countries, one can help bring understanding between the two and eventually establish ties that may be beneficial to both countries.

3.2Pricing Strategy (Drop price)
Apart from that, Pfizer also can reduce the price of Viagra in the market to compete with existing product from competitor which currently sells at for Generic Cialis 20mg, 40 tabs USD185, Generic Viagra 100mg, 40 tabs USD 140, Levitra/Bayer 20 mg, 24 tabs USD159.99. Currently Viagra sells a lower price compared to its main competitors. This can helps to boost its sales instantly. Pfizer has the capacity to drop the price because they are the one who dominate the market. For...
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