Preview

Pfizer Marketing Strategies

Good Essays
Open Document
Open Document
1001 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Pfizer Marketing Strategies
Pfizer Inc., discovers, develops, manufacturers, and markets leading prescription medicine for humans and animals and many of the world's best-known consumer brands. Their innovative, value-added products improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. The company has three business segments: health care, animal health and consumer health care. The top three worldwide pharmaceutical companies in sales are from GlaxoSmithKline, Pfizer and Merck respectively. In 2001, Pfizer increased its' market share and became the sales leader. They have continued to lead the industry since. The main reason for their tremendous growth is that their pharmaceutical products are able to improve the quality of life of their customers. Those products are Aricept, Celebux, Diflucan, Lipitor, Neurontin, Norvasc, Viagra, Zithromax, Zoloft and Zyrtec.

Research and development is vital to the success of any pharmaceutical company. Pfizer spent 7.1 billion on research and development in 2003; this is the only pharmaceutical company that is capable of investing this much. Their future, as one company, with a single purpose and mission, is sharply defined. Pfizer Inc. wants to be the company that does more good, for more people, than any other on the planet. Innovation is critical to improving health and sustaining Pfizer's growth and profitability. They are deeply committed to meeting the needs of their customers, and we constantly focus on customer satisfaction.

Pfizer is now implementing a strategy to drive performance within the global business, building on the business model and management ethic that they applied in the United States. The most important priority is to improve sales performance through the launch of new pharmaceutical products, encourage doctors to continue to prescribe existing products, and attempt to increase consumption and enlarge the over-the-counter market. Pfizer is a strong and reliable

You May Also Find These Documents Helpful

  • Good Essays

    The team viewed the video “Cost of Capital” as part of our weekly team discussion. In the video, Amil Singh discussed the cost of capital for Pfizer Inc. Pfizer Inc. is the world 's largest research-based pharmaceutical company that develops its own products in America. Pfizer revenue is about $65 billion with market gap close to $140 billion (John Wiley and Sons, 2012). The cost of capital is the "rate of return that capital could expect to earn in an alternative investment of equivalent risk" (Investopedia LLC, 2015). When the company researches and develops a new product it can take nearly eight to ten years before it hits the market and see a profit. In this paper, we will look at how Pfizer addresses its cost of capital and issues with research and development.…

    • 865 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Marketing Plan for Pharmasim

    • 3869 Words
    • 16 Pages

    The management team at the over-the-counter cold medicine (OCM) group of Allstar Brands is looking to utilize revenue generated by Allround to help fund new opportunities in emerging markets. Therefore, it is critical that Allround maintain its market-leading position in terms of market share, profitability, and sales in order to fund these new initiatives.…

    • 3869 Words
    • 16 Pages
    Powerful Essays
  • Satisfactory Essays

    Cost of Capital

    • 282 Words
    • 1 Page

    Pfizer is the worlds’ largest research based pharmaceutical company. This company faces many challenges are many challenges just as other major companies do. This company has an estimated $65 billion in world -wide revenue with market cap of $140 billion. The assumption is that the company has a solid financial portfolio, trading 8 billion shares daily, and retaining $7 billion in capital. The company does not fund project by project, it prioritizes the present products to determine which to fund first using a productivity index metric to measure the cost to manufacture the anticipated return on investment. As stated by Emmitt, each product bears unique risks. The patent process protects the company and allows the company to sell the product exclusively on the market. Team B will reflect on some of the corporate finance challenges faced by Pfizer.…

    • 282 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    - Competitive benchmarking of leading companies. Key companies studied in this report are GlaxoSmithKline, Sanofi, Pfizer, Merck and Novartis.…

    • 347 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Pharmanet-i3, a subsidiary of inVentive Health, is a world leading clinical research organization committed to the advancement of health around the world. The mission of Pharmanet-i3 is to be a strategic partner to companies that develop therapeutic drugs, and aim to bring drugs to the public that treat disease and improve the quality of life. The company will operate within the industry’s highest quality standards with uncompromising integrity, ethics, and respect for employees, study participants, the environment, and the communities in which the employees live and work. Shareholders can expect superior returns through the implementation of a successful growth strategy (Pharmanet-I3, n.d.).…

    • 1342 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    Genentech Essay

    • 2177 Words
    • 9 Pages

    High spending on research and development that enables Genentech to develop its current drugs and produce new ones.…

    • 2177 Words
    • 9 Pages
    Powerful Essays
  • Powerful Essays

    Merck vs Pfizer

    • 7395 Words
    • 30 Pages

    References: Allasraki, M. (2011, February 27). The 10 biggest-selling drugs that are about to lose their patent. Retrieved from http: http://www.dailyfinance.com/2011/02/27/top-selling-drugs-are-about-to-lose-patent-protection-ready/…

    • 7395 Words
    • 30 Pages
    Powerful Essays
  • Powerful Essays

    In addition, GSK spends over $6 billion per year in research developing new products for just the pharmaceutical business. In fact, GSK is the world’s largest research and development spender. According to GlaxoSmithKline’s…

    • 1448 Words
    • 6 Pages
    Powerful Essays
  • Better Essays

    The Pfizer organization expresses a strong culture and interest in the well-being of people, both inside the company and in the larger human community. The company’s understanding of its responsibilities of citizenship required it to remain loyal to its hometown community. In its embrace of a structured, organized, and planned environment, Pfizer reveals the often subtle impact of the judging work style preference. The company has evolved a remarkably decentralized divisional structure, with distinct but wholly owned subsidiaries producing some of its best-known products: McNeill Laboratories makes Tylenol, Ethicon makes surgical products, and Ortho handles contraceptives.This decentralized system allows each division to work at its own pace and establish its own procedures for marketing its products. The influence of the structured, planned environment of the Pfizer umbrella organization, however, ensures a high degree of consistency.…

    • 1282 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    Products The company's product portfolio includes many world leaders and a number of high potential growth products: Arimidex (cancer), Crestor (cardiovascular), Nexium (gastrointestinal disease), Seroquel (schizophrenia) and Symbicort (asthma and chronic obstructive pulmonary disease). Profile – Active in over 100 countries with a growing presence in important emerging markets including China; corporate office in London, UK; and major R&D sites in Sweden, the UK and the US. It employs over 65,000 people (51% in Europe, 32% in the Americas and 17% in Asia, Africa and Australasia).…

    • 2438 Words
    • 10 Pages
    Powerful Essays
  • Satisfactory Essays

    Business

    • 330 Words
    • 2 Pages

    4. Does Pfizer need to change the structure of its organization? If so, what changes are…

    • 330 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Merck & Co

    • 1066 Words
    • 5 Pages

    Merck had a 14% increase in sales between 1997 and 1998 and 22% increase in sales from 1998 – 1999, and a 13% annual increase in earnings over the same period. Merck’s business strategy consists of two parts: (1) developing and marketing new drugs through internal research, and (2) developing partnerships with smaller biotechnology companies. Since 1995, Merck had launched 15 new products that earned $5.9 billion on sales of $32.7 billion. Furthermore, Merck may agree to license new drugs from other firms and with its larger capital and greater assets, can assume the risk of submitting the drug through various regulatory approval phases. If the drug becomes profitable, Merck can earn significant cash flows while paying a royalty to the licensor. However, most important is the option that Merck has in deciding when to abandon or continue on this project (deferability or optionality). If Merck reaches a point when its expected NPV is negative, it can simply abandon the project.…

    • 1066 Words
    • 5 Pages
    Better Essays
  • Good Essays

    * Pfizer: Pharmaceutical companies have low pressures for local responsiveness as their products serve universalistic needs. Cost pressures on the other hand are intense therefore the most appropriate strategy is a Global one.…

    • 670 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Sanofi-Aventis Acquisition

    • 5913 Words
    • 19 Pages

    With regards to the market share ranking of the pharmaceutical sector by revenues, the leader in 2003 was Pfizer, GlaxoSmithKline, Merck, Johnson & Johnson and Aventis. However, due to patent expirations and new successful drug launches, the ranking of top pharmaceutical companies constantly faces numerous variations. The most sold drug in 2003 was Lipitor manufactured by Pfizer, with a global market share of 2.2%, or equivalently sales worth $10.3 billion. During this time, there were 64 blockbusters (products generating over $ 1 billion in sales).…

    • 5913 Words
    • 19 Pages
    Powerful Essays
  • Good Essays

    Merck Case

    • 587 Words
    • 4 Pages

    Merck had a 14% increase in sales between 1997 and 1998 and 22% increase in sales from 1998 – 1999, and a 13% annual increase in earnings over the same period. Merck’s business strategy consists of two parts: (1) developing and marketing new drugs through internal research, and (2) developing partnerships with smaller biotechnology companies. Since 1995, Merck had launched 15 new products that earned $5.9 billion on sales of $32.7 billion. Furthermore, Merck may agree to license new drugs from other firms and with its larger capital and greater assets, can assume the risk of submitting the drug through various regulatory approval phases. If the drug becomes profitable, Merck can earn significant cash flows while paying a royalty to the licensor. However, most important is the option that Merck has in deciding when to abandon or continue on this project (deferability or optionality). If Merck reaches a point when its expected NPV is negative, it can simply abandon the project. As a licensee, Merck can allow smaller biotechnology firms to focus on research and development. These smaller firms often have smaller budgets and are not financially or personnel equipped to handle the costly and long FDA approval process, and the subsequent marketing, distribution, and sales of new drugs. This task is better suited for a larger company, such as Merck, which has more resources and money.…

    • 587 Words
    • 4 Pages
    Good Essays