Possibly the nurse entered your blood force per unit area, temperature, and ground for sing the physician into a templet particularly designed for this type of information. The lone job was that HIPAA did non put criterions for sharing this wellness information in a digital format.
Political arena has huge influence up on the regulations of business and the spending power of consumers and other business. 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.
Another major problem affecting the industry in many countries are monophony which means only one powerful purchaser who are government.
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.
In the effect of economic recession had lead to fall in tax revenue, the government forever changing cost containment plans had become operations of the company unstable in European market which is highly fragmented, moreover the expansion of EU had provided many opportunities but it also raised new challenges from generics and low priced imports.
The government price control is a major challenge to the industry in the form of parallel trade. 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.
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.
Not only this, the growth of pharmaceutical market is aligned with GDP growth. 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.
In developed countries consumer are benefited by the insurance and can afford ethical drugs but the countries who cannot afford to ethical drugs are switching to generic to save coast which pressuring pharmacists to substitute generic drug as the first choice, patented drugs are only used if generic drug fails.
Some consumer does not want to use biopharmaceuticals because they genetically done. 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.
The competitive force analysis is made by the identification of five fundamental competitive forces.
More over it is very risky business because it takes years for new market to come into market and nobody is sure about the success of the products and patent time is also limited. It is very difficult for the suppliers to sustain in the market because if they increase their price the company may change supplier who supply raw materials comparatively low price compare to existing one and industry is not key customer group to the supplier.
Brand image, role of quality, service of supplier is not considered by the industry. POTENTIAL BUYERS Bargaining power of buyer is high because main buyers are generally government and the companies that is monophony and companies cannot go against them and they can only sell the product to government the other side of the buyer are consumers who's buying power is also high because of substitute available in markets and brand loyalty is low in consumers.
And import of drugs from china and India which are produce very cheaply compare to local producers. 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.
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.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. 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. 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. Different Strategic Direction For Pfizer And Merck Marketing Essay. Print Reference this. Disclaimer: there are different strategic direction for Pfizer and Merck in order to gain more profit in the market.
Pfizer Case Study Essay - Pfizer Case Study Pfizer Inc. is a large pharmaceutical company that engages in the discovery of new technologies, the manufacture of prescription and "over the counter" (OTC) medicines, as well as the marketing of such products. The knowledge and power of five forces help company to develop options to improve position of the company which results in new strategic direction like new differentiation for competitive products of strategic partnerships. 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.
The reason Pfizer becoming the market leader is because they used different marketing strategy compare to Merck. First strategy used. The top three worldwide pharmaceutical companies in sales are from GlaxoSmithKline, Pfizer and Merck respectively.
In , Pfizer increased its’ market share and became the sales leader. They have continued to lead the industry since. We will write a custom essay sample on Pfizer Marketing Strategies specifically for you for only $ 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.