The following marketing plan will focus on how Pfizer, the leading company in the pharmaceutical industry will perform in tough competition conditions. A brief introduction of the field of pharmaceutical will be highlighted along with a short introduction about the company and its history.
A market analysis will be performed to study the different factors affecting the pharmaceutical industry as a whole and our company specifically. The market analysis will give us a clear idea about where we stand and the competition present in our market and the market share of each competitor compared to ours. SWOT analysis of the company will give us an indication of the strengths that we should maintain, the opportunities that we need to capture, and the weaknesses or departments that we need to get rid off. A BCG matrix tool will be used to define and allocate our marketing resources that will help us with our marketing plan.
Also Micro and Macro environmental analysis will be performed to help us define our objective.
Management information systems will be highlighted to follow the progress of our internal and external environment in order to direct us into choosing the right objective.
An objective will be set based on the analysis that has been done through studying the market. Easily implemented and cost effective scenarios will be suggested to help us reach our objective.
An action plan will be executed using different modules suggested in the different scenarios chosen to achieve the objective at hand.
A final result of the action plan will be presented, either with a success or failure of the objective, followed by recommendations to better choose the data at hand or suggesting different ways to achieve the objective.
1.1 General Introduction
Pharmaceutical companies are all around the globe. This explains the importance of such an industry. Organic chemistry is the foundation of the pharmaceutical industry. The industry started in the European region as a dye industry in the nineteenth century, which then evolved to start the first full drug companies. The pharmaceutical industry moved to New Jersey and the surrounding areas around the twentieth century, making it the headquarters for many of the premier pharmaceutical companies in the world. Now, hundreds of companies are present in all regions of the world. The biotech industry found its way into the pharmaceutical industry, helping into finding new cures. Research is the most important asset that a pharmaceutical company could have in order to have a competitive edge with its new research results for new drugs. Much of the reason for the recent mergers is the need to have critical mass and money for research.
1.2 My position
Identifying a problem in the company is the first step into its growth. I work as a medical representative at Pfizer. The main purpose of this job is to develop a good perception at different doctors' minds and convince them into prescribing our products to their patients to increase our revenues, and ultimately our market share.
1.3 History of the Company
Pfizer started as a fine chemicals business, Charles Pfizer and Company, in 1849 in New York. One of the major events that helped Pfizer with its success is the production of citric acid through fungal fermentation of sugar, which was originally produced using calcium citrate, which was originally imported from Italy. Citric acid was used in the production of an antibiotic, and this new way of producing it was very useful to treat injured allied soldiers during World War II. The discovery of other products through research in the 1950s moved the company on the path of change from a manufacturer of fine chemicals to a research pharmaceutical company. Pfizer also began a program to discover drugs through chemical synthesis, along with its research in fermentation technology. Pfizer also established an animal health...
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