Pfizer Marketing Strategies Essay

1014 words - 4 pages

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 brand, with a solid competitive position and diversified product line that appeals to a wide customer base. However, Pfizer needs to communicate with their clients more effectively in order to capitalize on their opportunities. Their current objective focuses heavily on increasing profitability and sales volume of the new products, such as Lipitor, Norvasc, Celebrex and Neurontin. They are seeking to increase efficiency by reorganizing of the structure of the company.Pfizers' focus on research and development is matched by an equally strong emphasis on marketing. The company promotes its human pharmaceutical products to health care providers including doctors, nurse practitioners, physician assistants, pharmacists, pharmacy benefits managers, and managed care organizations. Pfizer also promotes its products directly to consumers in the U.S. via direct-to-consumer (DTC) print and television advertising. Pfizer has responded to the Food and Drug Administration's 1997 decision to loosen...

Find Another Essay On Pfizer Marketing Strategies

Future of "Big Pharma" Essay

2421 words - 10 pages lose patent protection by 2008. In order for Pfizer to remain as one of the leading pharmaceutical companies and its dominant market share, now is the time to take lifecycle management very seriously. With so many blockbuster branded on the verge of succumbing to patent expiration, Pfizer require to cautiously devised line extension strategies to remain its market shares and profitability in the future.ASSUMPTIONS- As well know blockbuster were

Global Communications Benchmarking Essay

6940 words - 28 pages figures within the union learned of the strategy via the grapevine. Because grapevine communication has a high potential for distortion, companies must ensure that key decisions and strategies are communicated formally and precisely before the information can be passed through the grapevine. Global Communications needs to be very discrete in the way it allows for this information to be presented. Any misperception of organizational changes could be

Gene One Benchmarking

6405 words - 26 pages several problems the company could possibly face:•The California energy crises,•SEC and FERC investigations,•bankruptcy and fall of Enron,•declining economy,•lack of confidence in corporate management,•disillusionment of trading and marketing,•accounting allegations for Duke Power,•reduced volatility in energy prices, andThe executive staff and employees experienced severe value and ethical issues within Duke

Monsanto Corporation

1155 words - 5 pages -altered consumer foods. This is an important marketing tool in many geographic markets.After years of acquisitions of diversified businesses, Monsanto seemed to be moving to the right direction by its plan to separate its chemicals businesses from other businesses related to life sciences. They understood the importance of pursuing narrow business objectives and refocusing their business strategies. Life Sciences segment would identify unmet needs

The Pharmaceutical Industry

2339 words - 10 pages everyone. It is better for the industry’s bottom line to keep patients in need of prescriptions instead of curing them. With this evidence, there is a direct link in its marketing strategies regarding its profit motive. Somewhere within the industry there has been a shift from finding cures to a focus on relieving a patient’s symptoms. In a focused effort for finding medications to take care of these symptoms, they disregard the consumer’s

merck company

4630 words - 19 pages decongestant sprays, and laxative tablets among others. Among Merck's major brands are Singulair, Fosamax, Zocor, Gardasil and Varivax.In its drug manufacturer industry, Merck's major competitors are Johnson & Johnson, Pfizer, Novartis, GlaxoSmithKline as well as other smaller companies. In terms of market capitalization, Johnson & Johnson leads the industry at $162.9 billion, while Merck ranks 4th at $106.7 billionBased on analysis of Merck's

merck

4630 words - 19 pages decongestant sprays, and laxative tablets among others. Among Merck's major brands are Singulair, Fosamax, Zocor, Gardasil and Varivax.In its drug manufacturer industry, Merck's major competitors are Johnson & Johnson, Pfizer, Novartis, GlaxoSmithKline as well as other smaller companies. In terms of market capitalization, Johnson & Johnson leads the industry at $162.9 billion, while Merck ranks 4th at $106.7 billionBased on analysis of Merck's

How Information Systems Support Business Processes in an Organization

4420 words - 18 pages J. Xu and M. Quaddus, Managing Information Systems, DOI: 10.2991/978-94-91216-89-3_2, Ó Atlantis Press 2013 27 Chapter 2 Information Systems for Competitive Advantages This chapter will review competitive forces and competitive information systems strategies for gaining competitive advantages, explain concepts of value chain, value web and business eco- systems & co-opetition, and discuss innovation strategy. 2.1 Competitive

mis 002

4420 words - 18 pages J. Xu and M. Quaddus, Managing Information Systems, DOI: 10.2991/978-94-91216-89-3_2, Ó Atlantis Press 2013 27 Chapter 2 Information Systems for Competitive Advantages This chapter will review competitive forces and competitive information systems strategies for gaining competitive advantages, explain concepts of value chain, value web and business eco- systems & co-opetition, and discuss innovation strategy. 2.1 Competitive

Why was the battle for Kokoda Track so significant for Australia?

4597 words - 18 pages Benchmarking-The purpose of generic benchmarking is to identify potential solutions to the problem statements defined in Task A. You will do this by looking at how companies in other industries have dealt with similar issues.Topic A: Data ReliabilityResponse to Topic A:With over 10 billion dollars earned annually on established products alone, Pfizer has led the pharmaceutical industry for years. This has been because of its ability to anticipate when a

Management Problem Solutions

4593 words - 18 pages Benchmarking-The purpose of generic benchmarking is to identify potential solutions to the problem statements defined in Task A. You will do this by looking at how companies in other industries have dealt with similar issues.Topic A: Data ReliabilityResponse to Topic A:With over 10 billion dollars earned annually on established products alone, Pfizer has led the pharmaceutical industry for years. This has been because of its ability to anticipate when a

Similar Essays

Pfizer Corporation Essay

3800 words - 15 pages . Marketing and medical personnel work closely throughout the entire life cycle of a product to provide appropriate information to the customers. This partnership ensures that all medical information from Pfizer is credible, relevant and useful to the healthcare professionals who use its products to care for their patients.4) Merger and acquisition strategies( 1 ) Merger of Warner Lambert company on 2000Pfizer Inc. (Pfizer) consummates its $90

A Marketing Audit Paper Of The Cialis Product

3012 words - 12 pages audit will start with key information on the Cialis product. Such information will include:- What is Cialis and what is the purpose of this product?- What would be the primary competition to this product and how does it compare to Cialis?- What are the marketing strategies applied to each product and what are their goals?- What are the pros and cons of the marketing techniques used?- Have the marketing techniques been successful?- Suggestions and

Drug Company Marketing Campaigns Essay

651 words - 3 pages Drug companies spend enormous amounts of money on advertising their products. From TV commercials to print ads to bulk mail advertisements, they cover the entire spectrum of marketing techniques. However, change is afoot and most drug companies are reevaluating their advertising strategies and how they spend their money. According to a recent Business Week article (“Drugmakers are Changing Channels”, http:www.businessweek.com/print/magazine

Marketing In The Pharmaceutical Industry Essay

2035 words - 8 pages different global legislation can affect marketing strategies, and ultimately sales. I also thought this would be a fascinating area to study in terms of ethics. Pharmaceutical companies are seen to be generating huge revenue streams, while good health is not equally distributed. As I previously lived in Canada, I was able to receive insights from a sample of both Canadian and Irish residents to determine how pharmaceutical companies are viewed