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ANINTERIM REPORTON

INNOVATION IN THE MARKETING STRATEGIESADOPTED BY THE PHARMA ORGANIZATION Submitted By:Rakesh Chaube [Enroll. No.7NBMM029] ICFAI NATIONAL COLLEGE Mira Road(Batch 2007-09) 1

ACKNOWLEDGEMENT I here by take this opportunity to thank all those people includingmy friends and colleagues who have helped me for the successfulcompletion of this project.I express my gratitude to my entire Faculty for the continuoussupport and guidance they have rendered for the successfulcompletion of this project.I express my gratitude towards my parents for their encouragingsupport, incandescent sprit and endurance towards the making of this project.In the end, special thanks to all members who are directly or indirectly associated with the project. 2

DECLARATION I hereby declare that the project entitled Innovation inM a r k e t i n g strategies adopted by T h e P h a r m a organizations submitted to the ICFAI University in partialf u l f i l l m e n t f o r the award of Master of B u s i n e s s Administration Degree, is a record of the original work doneby me under the supervision and guidance of , faculty ofM.E., and that has not previously formed the basis for thea w a r d o f a n y degree, diploma, fellowship or a n y o t h e r similar title.Place :Date :Signature of the Candidate 3

.DECLARATION. S U M M A R Y .INTRODUCT I O N ALSMARKETING PROCESS & ITSCOMPANY BUSINESS STRATGEIESAPPROACHES OF SUPER CORERKETING APPROACHES OF CORE MODEL. Q U E S T I O N A I R E I LIOGRAPHY/WEBLIOGRAPHY ustomer needs and wants profitably. M a r k e t i n g vironment today is dynamic making it essentials f o r rketers to adapt quickly. Companies need to developc e n a r i o r e q u i r e s a competitor focused a p p r o a c h s o ovation in marketing strategiesc e s s a r y t o h a v e mpetition Pharmaceutical marketers trying to

competet i m i z e t h e s a l e s o f each drug, thus pharmaceuticaldustry. However, pharmaceutical mar k et i n g i s als o ployed to ensure the best marketing mix f o r e a c h novative approach in marketing strategies adopted bye s e c o m p a n i e s . T h i s a r t i c l e will present the changingdustry due to worldwide revenues of approximatelyh e r e c e n t years that place new d e m a n d s o n p a y e r s , me choice and convenience from Pharma industry that n s i s t e n t growth over the next few y e a r s , d r i v e n b y a bindo Pharma, Sun Pharma, CIPLAd u s t r y i s a k n o w l e d g e

driven industry and is heavilyd growth. However, basic research (discovering newus, dominated by large global multinationals. I n d i a n ngal Chemical & Pharmaceutical Company started itsn d u s t r y m o v i n g t h r o u g h several phases, largely i n cordance with government policies. Commencing with an 2,400 registered pharmaceutical producers in India. 6 5 b u l k drugs used in India, approximately 425 a r e nufactured here. India has more drug -manufacturing e n e r i c s companies supply 84% of the AIDS drugs thatr r es ear ch aren Pharmaceutical, Ipca Lab s Lt d , Is and Formulations

produced at worldclassnufacturing facilities are approved by leading d r u g gulatory authorities including the US -Food and Drugd m i n i s t r a t i o n ( F D A ) , UK-Medicines and Healthcareroducts Regulatory Agency (MHRA), S o u t h A f r i c a - nes Control Council (MCC), Brazil-Brazilian Nationale a l t h V i g i l a n c e Agency (ANVISA) and A u s t r a l i a - 03 among its top 200 successful, rising companieso m p a n i e s w e r e considered by Forbes, and o f t h e 1 8 of them. Subsequently,day Mankind is a leading pharmaceutical company ofd i a . T h e i r G o a l i s t o h e l p

patients lead healthier l i v e s mmercializing medicines, and delivering affordable &inesses, geographies and products provide us the gic benefits of integration that allow us to perform bestt i f u n g a l , Gastrointestinals, NSAIDs, Anthelmintics,ro n i c ther ap y areas like cardiology, p s y chi at r y , veral milestones to emerge as an important specialtyarma company with technically complex products i n mbination of internal growth and acquisitions to drive a s e d Caraco Pharma Labs, ICN H u n g a r y ( n o w c a l l e d y systems to a company, SPARC, which is listedanta Pharma Ltd. (APL), one of the leading aceutical

companies from India. Formed in 1973, withh e p h i l o s o p h y o f " , w h e r e t h e y b e l i e v e i n 00 employees building this Indian M u l t i N a t i o n a l earch and Development Centre. Thec c e s s of thise n t r e a n b e g a u g e d b y t h e hievement of a bal patentturale n t r e i s a c t i v e l y involved in developing d r u g s i n rbal division. This division has the latest and highlya n u f a c t u r i n g a n d marketing of p h a r m a c e u t i c a l ormulation s in the African region w i t h f o c u s o n t h e ufacturing bases inntries, which are O G M P approved. Ajanta is the b i g g e s t i n v e s t o r i n Marketing Process and its Challengesle many

pharmaceutical companies havenges and opportunities for increasinge transaction (prescription) for which direct customeri e r a r c h y o f d e c i s i o n makers has been a timetestedadition. Typically, sales force expense comprises antimated 15 percent to 20 percent of annual productmmercially viable. But, only the d e v e l o p e d n a t i o n s sts of the consumers, ite c e s s a r y t h a t t h e product be approved by the drugproval is initiated alongside the patent registration&D expenditure. It is only the large p h a r m a c e u t i c a l ies who can allocate significant resources for

R&D toh as psychiatry, cardiovascular, gastroenterology andc u s e d o n a n t i b i o t i c s a n d a n t i i n v e c t i v e s ( , S u n rma focused on therapeutic areas such as depression,u p e r C o r e Modelvolving the search for andccess of this model depends on achieving largeo r t h e h i g h c o s t of the drug discovery a n d . This model incorporates highlym p e t i t i o n i s s e e m s m o r e at entry level but sinceh e advantage of opportunity c o s t i s o n e o f t h e portant strategies. Other strategy includes dailyminders to cross the perceptual filter and get t h e Core Modelift from Acute towards Chronic Therapy area.

Chronicn d D a b u r P h a r m a Ltd. Who have focused on t h e s e gments the doctor's prescription has become just thet a r t i n g p o i n t i n determining what drug the r e t a i l e r penses. During last five years Pharma companies havea r t e d i d e n t i f y i n g t h e hidden potential of oncologicaln representatives for just one company, or d i f f e r e n t presentatives has also been increasing, since the largers i t s t o e n c o u r a g e d o c t o r s to prescribe drugs and t h u s hort meeting to support their product. Pharmaceutical a r k e t i n g i s a specialized field where medicalharmaceutical

companies also appoint m e d i c a l pany norms. Medical representatives try to influencet h usually three channel members i.e. d e p o t / C & F , ckiest and chemist. Pharmaceutical companies appointa t i e n t s v i s i t chemists for buying medicines eithera n ag e m en t fr o m prescribed company. A n d f o r ompanies also give main emphasis in building a n d taining these customers. All efforts are being put f o r ondary sales i.e.om stockiest to retailer.s u r i n g o f a u t o demand with limited availability anda x i m u m liquidation of the

products is the m a i n cteristic of this approach. For retaining and developings t o m e r s , the companies normally p r o v i d e g i f t s l i k e onsorship for various conferences like RSSDI, FOGSI,ICON, UPCON etc. For example Dabur having PASS e market so generally r e p r e s e n t a t i v e s c a l c u l a t e tely noCore Modelm a g e i n t h e i r customers (doctors) c h a m b e r . M a n y ies such as Glaxo, Pfizer, Dabur, FDC, Aventies, andt h r e t a i l e r s . F i e l d force also required to ensure goodu s t o m e r a n d r e q u e s t i n g for same type of products.heir own discretion. For retaining a n d d e v e l o p i n g d retailer

level are reported also payment recovery of m p a n i e s b y understanding the customers' d e l i v e r y ies are fighting (for customers) like nevere f o r e a n d if anything is certain t h e n i t i s f u r t h e r sification of this war, and because of this companies arec r e a s i n g l y looking at Logistics, as a weapon to g a i n www.google.co.inwww.mankind. comwww.ipcalabs.comwww.sunpharm a.com

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Submit Characters: 400 pragnesh22 Hi.. pls can u mail me your report @ pragnesh22@gmail.com reply01 / 20 / 2012 deleted_fbuser_1326028765 i need ur this report for my study. please send me a copy of your porject if possible my email id is amolchate7@gmail.com reply06 / 15 / 2011 Keyur Savalia

please send me a copy of your porject if possible my email id is keyursavalia@gmail.com reply04 / 15 / 2011 830591 piz send a copy to me sladjanabulic@yahoo.com thanks reply01 / 29 / 2011 Uttam Kr Patra plz send a copy to me soutam85@gmail.com thanks reply10 / 25 / 2010 skchatki hi i am dhananjay, i reqvst to u plz send me project as soon as possible....urgent.......sir reply09 / 24 / 2010 holymanbinny

hai ...if u have a copy of this send to my mail id.. i need for my project ,help...........holymanbinny@gmail.com reply07 / 13 / 2010 nehamm plz send a copy to me too...nehammore@gmail.com reply05 / 19 / 2010 Show More
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