Pfizer Health Centers Negative Impact of a Branding Market Strategy The downside of using Brand advertising to promote your product is if a lot of news is created over the negative effects of your product it destroys creditability to your brand. The exchange rates and currency problem is also one of the major issue for example Canada has inflexible pricing and reimbursement criteria, where USA does not have price controls as a results the price drug in America is high compare to Canada which leads to damage of brand image in consumers mind for example price of Lipitor is 3.
Bob Dole became talked spokesman because he started doing promotions after he lost the election and was able to add comedy to advertisement. Over many years the pharmaceuticals industry has increased political attentions because of increase in recognitions of the economic important of healthcare as a component of social welfare.
So brand advertising can reach these new consumers for trusting the Pfizer brand. How to cite this page Choose cite format: The United States baby boomer generation is starting to need elderly care and medication in retirement, and this segment is seen as key market to any pharmaceutical company.
The actions were finalized in and the results were amazing. The utilization of technology is very expensive because it includes latest instruments which is possible only for developed countries to use technology because they are funded by insurance companies and product developed by this technology cannot afford in developing countries because of its huge investment.
Along with the developing Asian nations, there will be a very strong market demand in the short term future. Some countries cannot enjoy universal coverage system and latest treatments because they are not funded by the insurance companies like USA which can afford latest technology but cannot share the benefits because of increasing populations in different parts of the world.
The idea is to have Pfizer become an umbrella brand that all of its products fall under. For all the products mentioned in Figure 1, quite a few of them are considered industry leaders in their categories.
As market is getting saturating companies are going global which means world wide launches, global branding and heavy investment in promotion as shorter product life cycle and to gain competitive advantage.
With DTC consumers become aware of these leading medications. This can be viewed in Figure 2, showing how Pfizer has shifted its attack plan away from drug representatives as they no longer rely on their representatives to push their sales.
They also built brand equity with Celebrex and Bextra by having them similar. Ad Campaign Example8 A large part of future growth is taping into the developing countries.
Pfizer has numerous health centers available for separate therapeutic categories as seen in Figure 3. And import of drugs from china and India which are produce very cheaply compare to local producers. Political arena has huge influence up on the regulations of business and the spending power of consumers and other business.
Not only this, the growth of pharmaceutical market is aligned with GDP growth. Advertising also informs the consumer that health is not only skin deep and there are many things that only a doctor can diagnose.
Pfizer can then offer extensions of a classification of drug. The government price control is a major challenge to the industry in the form of parallel trade.
Brand image, role of quality, service of supplier is not considered by the industry.
An example of this is cholesterol levels, which in Figure 3 shows how looks can be deceiving. Current technological advances and improvement in media services have translated into a greater effort in spreading knowledge about the products and services drug makers provide.
Drug makers can be sued over the publication of clinical trails or marketing of drugs for so-called off-label uses. Parallel trade is nothing but free movement of the product across the Europe with out any trade barriers which will affect the local manufacture because the distributor will buy drugs in low price markets and export them to high price markets example buying the product from manufacture in Poland and exporting them to Ireland.
By building a well perceived line brand it helps Pfizer to retain control of a therapeutic area. Since government around the world attracting pharmaceuticals as a politically easy target in their effort to control l in increasing health care expenditure like price and reimbursement controls and also the industry loosed both public and political support to resist this change.
Pfizer has been shifting its marketing effort to raise brand awareness through DTC marketing and buzz marketing. In spite of taking care during launching the industry is still faces tough time from generic drugs and not only this merges and acquisitions as one of the major cause for competitive rivalry.
Medications are protected by patents that last for 12 years. Another famous example of this is the Apple iPod which has minimal advertising budget but is wildly popular. This allowed direct to consumer DTC marketing. Studies also show that advertising helps improve communications between patient and physician.yWinning will require a fundamentally different approach in every aspect of Merck’s business supported by an accountable and Merck’s Plan to Win is Driven by Five Strategic Actions.
8 Merck’s Plan to Win is Driven by Five Strategic Actions Focus on priority yAchieve best-in-class marketing and administrative efficiency. Pfizer is a global pharmaceutical and consumer products company, which discovers, develops, manufactures, and markets medicines for humans and animals.
The company consists of three SBU's (Strategic Business Units): The company produces the impotence treatment Viagra, cholesterol lowering Lipitor. Pfizer “Branding” Marketing Strategy - Assignment Example On In Assignment Sample Pfizer Inc. is a research-based, global pharmaceutical company that discovers, develops, manufactures and markets prescription medicines for humans and animals, as well as consumer healthcare products.
The case is broken in to different parts which is emphasized on how internal and external factors affecting the industry firstly, the main environmental forces currently affecting the industry through PEST analysis.
but the presence of global expertise firms like Pfizer, Merck will stand as global opportunities.
The industry more than ever. Published: Mon, 5 Dec However, there are different strategic direction for Pfizer and Merck in order to gain more profit in the market.
The reason Pfizer becoming the market leader is because they used different marketing strategy compare to Merck. Pfizer Inc. (NYSE:PFE) announced today that it has entered into an agreement with Merck KGaA, Darmstadt, Germany, to jointly develop and commercialize MSBC, an investigational anti-PD-L1 antibody currently in development by Merck KGaA as a potential treatment for multiple types of cancer.Download