Question

# Explain the marketing mix of the a pharmaceutical organisation, with description of the segmentation & positioning of the strategies used

# how to write a report on the specific microenvironment and macro environment factors influencing the pharmaceutical organisation’s marketing activities

# Suggest five key recommendations related to marketing strategies on how to increase its customer base / improve profitability

Answer 1

Explain the marketing mix of the a pharmaceutical organisation, with description of the segmentation & positioning of the strategies used

In today’s world, every company faces competition globally and pharmaceuticals is one of the most organised sectors. It plays a vital role in healthcare of any country or geography. Moreover. The industry plays an important role in promotional & sustainable research & development in medicine.

Marketing for this also falls under 4P’s where the focus is to have

• Decision making on products to be marketed
• Who would be your target customers
• How to reach the target market
• What competitive pricing to have
• And ultimately, the delivery of products to end user

The key strategies for best results from marketing of this industry would be

• Improved measurement & promotion tracking, using new database etc
• Better analytics to account & analyse multiple channels
• Better execution, as the plan most of the time look good on paper, but the execution strategy is key to its success
• Spending allocation- this is critical in order to understand what all product/services have to be at the top band and the investment that each product would require.

Meaning, the share of marketing spend on all products have to be carefully carved for best results with focus on what products/services are targeted to what kind of patients/clients

• The plan should keep key stakeholders in mind who are Physicians, Consumers, hospitals and health organisation.

Pharmaceutical is a very complex & costly sector and need clear & crisp communication.

# how to write a report on the specific microenvironment and macro environment factors influencing the pharmaceutical organisation’s marketing activities

Macro environmental factors have considerable influence on any marketing activities. The factors can be Demography, Economic conditions; Social and Cultural forces; Political and Legal forces and Technology. On a macro level change in any of them would affect the plan. However, in pharmaceutical or any other industry these are external factors and are uncontrollable by any one.

• Demographic force: Relates to growth of population; birth & death ratio, Age group literacy, ethnicity etc
• Economic forces: These are factors that makes people spend more or less, it depends how is the business cycle, whether its prospering, or recession time or depression & recovery time is going on
• Competition: An obvious major component, as constant monitoring is require on competitors activities related t products, pricing, distribution, promotion & programs etc.
• Social & Cultural: The constantly changing social & cultural values in today’ world is highly dynamic in nature and to keep up with that is a big task
• Political & Legal: Every firm or individual is influenced by any change in this area. As this demand a change in ways the company may be operating

Like changes in legislation, regulations, Technology process etc. can drive a major change

In microenvironment factors, there are basically three entities,

• Firms Market
• Its suppliers
• Marketing intermediaries

While these are generally controllable in comparison to macro environmental factors as advertisement can influence a firms own market and marketers can push their suppliers.

A firms internal forces also act as a major marketing system that defines influencers through its workforce.

# Suggest five key recommendations related to marketing strategies on how to increase its customer base / improve profitability

A few of the recommendation would be:

• Glocalisation: there has to be a global+local approach in the marketing , means local conditions must be taken into account as well while the company targets broader set of clients
• A thorough historical analysis should be done to understand what all factors worked for a particular brand or products and how well it can be executed that its recommended by doctors, physicians & also accepted by new customers
• Focus on lower spending and higher revenue, key is to have a better ROI
• carefully define the geography based on product differentiation of the firm and accordingly work on the reach of the product