Integrated Marketing Communications Pfizer Marketing Essay

⢠Strong qualifications: Pfizer has launched some very successful products in the past that are in charge of a sizable amount of revenue growth. Samples for these blockbusters are the pain management drug Lyrica, which is utilized to take care of conditions like fibromyalgia and other conditions related to neuropathic pain. Also very successful is the prescription medicine Chantix, presented to the prescription smoking cessation market in 2008.

⢠Sales and marketing structure: Pfizer remains the marketing spouse of choice. Primarily in the principal care specific niche market, Pfizer has commercially outperformed its competition in the past 15 years. Particularly impressive and effective is the company's direct-consumer advertising, making Pfizer especially successful in the U. S. market.

⢠Diversified product lines: The company has three main product lines, and more sub- products under the key product lines. Therefore, losing in virtually any one of product lines can be recovered by the profits gained in other products.

⢠Global existence: The business is providing their products to around 130 countries in the world; thus making itself a global organization. Such global presence gives them the competitive advantage of being truly a global brand as well as hiring the best individuals resource from round the world.

⢠Strong fiscal backdrop: Through merging and acquisitions the business has made its financial backbone more powerful than every other competitors. With leading market share, satisfactory market development rate, and high levels of sales it has been in the apex of the industry.

⢠Investment in R&D: The business has been devoting a good ratio of its profits towards research and development programmes. This may pave just how for greater enhancements in new product development and finally will assist the business to capture the market for services as well as taking the good thing about patent cover.

WEAKNESSES

Too centered on blockbusters: Although Pfizer, as outlined above, has a few of the most successful products available on the market, it is high-risk to become complacent and rely too much about them. Without future mergers and acquisitions, it'll become ever more difficult to increase sales while centering their progress model around their blockbusters.

Loss of revenue: Connected to the narrow concentrate on blockbusters is the tendency of Pfizer seeming to lose revenue growth, specifically in the U. S. In 2008 the U. S. fiscal revenues decreased by 13%. This took place mostly due to the lack of exclusive privileges on drugs like Norvasc and Zyrtec/Zyrtec D as well as lower sales of Lipito and Chantix. To offset this weakness, Pfizer should consider introducing new products to ensure stable earnings in the U. S. and other developed market segments.

Organizational difficulty: Due to being a very big and varied organization, the company may find it difficult to retain the overall control over the complete hierarchy of the organization, which can impede the achievements of the ultimate organizational goals. The business could also face too much complexity of being too large.

OPPORTUNITIES

Acquisition of Wyeth: By making use of Wyeth, Pfizer might be able to increase its coverage of therapeutic conditions, as well as develop its market share. The acquisition can make Pfizer one of the most diverse biopharmaceutical companies; it'll greatly boost its portfolio and will most likely bring about a significant growth in emerging markets.

Product agreement: Before, several services have been approved that will greatly enhance Pfizer's stock portfolio. Among these drugs are some for the treatment of Osteoporosis, overactive bladder, and community purchased pneumonia. The company is also awaiting authorization for a drug to take care of HIV conditions as well as bipolar disorders. Many of these products enable Pfizer to enter in medical areas that contain not been completely satisfied.

Growing demand: The worldwide demand for pharmaceutical, healthcare, and confectionary products are increasing daily. Therefore, the company has a great chance to broaden its market to more varied market sections and can also increase sales towards the existing segments.

Globalization: Due to globalization, the company can take benefit of tax free, and quota-free international trade environment which can reduce the transaction and circulation costs. The increased use of common currency (like the Euro through the European countries) may bring them the good thing about reduced exchange rate expenses.

THREATS

Exposure to universal drugs: Numerous patents expiring, the population reaching for common drugs as cheap alternatives to prescription medication, and the proposed regulatory acceptance for generic variations of biological drugs, Pfizer will face doubt in this sector. As yet, generic biological drugs were said to be difficult to duplicate because organic materials is hard to replicate. The government is also and only general drugs as they'll help to lower healthcare costs. Pfizer must take on stores such as Goal, Walmart, or RiteAid, which curently have programs set up, offering lower-priced general drugs with their customers. In 2011, Pfizer will lose the patent because of its most greatly sold medication, Lipitor, that will have an enormous effect on their sales once universal products enter the market.

TASK II

The Warner-Lambert Co. manufactures and market segments pharmaceutical, consumer healthcare, and confectionery products, including such popular brands as Listerine antiseptic mouthwash, Chiclets gum, Halls lozenges, Certs mints, Rolaids antacids, and Schick razors.

The product of an extended background of mergers and acquisitions, the Warner-Lambert name reflects the combined property of two businesses: the William R. Warner Company, a pharmaceutical and cosmetic matter, and Lambert-Pharmacal, manufacturers of Listerine dental antiseptic, which merged in the 1950s. Thereafter, Warner-Lambert became a big multinational firm under the command of Elmer Holmes Bobst

BCG matrix of WARNER LAMBERT:

Star:

They are high-growth, high-share businesses or products demanding heavy investment to finance rapid growth. They will eventually turn into cash cows.

Lambert's Listerine product, which got accounted for over 50 percent of Lambert's total sales, assured Warner a huge talk about of the oral antiseptic market.

Cash cows

They are low-growth, high-share businesses or products that are established and successful Strategic Business Units requiring less investment to maintain market share.

After warner lambert combine red with pifzer than pharmaceuticals products became their cash cows, some medicines like Aricept, Camptosar, Viagra followed market share swiftly. It makes 30% of the total revenue.

Question marks

They are low-share sections in high-growth market segments requiring lots of money to hold their share.

All the pet health care products like Draxxin, Excede, Naxcel/Excenel, RespiSure/Stellamune, Dectomax, Rimadyl, Revolution/Stronghold, Clavamox/Synulox etc question grades of the business.

Dogs

They are low-growth; low-share businesses and products which may create enough cash to keep themselves but do not guarantee to be large resources of cash.

All the confectionary stuff like gums and mints are low in growth plus they have less market share than any other products in the brand.

For the three segments of Warner Lambert

Prescription pharmaceutical: Prescription pharmaceutical has dropped in star, superstar is in the first quadrant of BCG matrix graph where both market growth andrelative market share are high. In the problem fund made from cash cow would be spent iknto superstar as at is attaining highest profit and have a potential future.

Healthcare: Medical has dropped in cash cow, where relative market share high and market development rate low. Warner Lambert would not further invest in this device. As the growth rate are low, rather income generated from it would make investments either to star or question mark unit.

Confectionery: Confectionery lies in the second quadrant where relative market share is low and market development rate is high. If more finance is invested by management, if the whole business process is nurtured then it can changed into star.

TASK III

Porter's 5 causes receive below

The degree of rivalry

The threat of entry

The threat of substitutes

Buyer power

Supplier power

The amount of rivalry:

The existing rivals which can be producing the same product and creating their own value to the prospective market. From this a corporation can assess themselves about the client satisfaction of these products, customer need and would like can even be evaluated.

In the market for anti-Alzheimer products, the get-togethers would have attained very high market shares in many Member Claims, ranging from 60% to almost 100%. Pfizer's product ARICEPT is currently thought to be the gold standard in this category. Although the investigation confirmed that Alzheimer's disease demonstrates to be a nice-looking market for future research and development, the Payment considered it uncertain whether the pipeline products presently under development would be able to be viable opponents in the future. To be able to reestablish competition, the parties offered to divest all belongings associated with Warner-Lambert's rival product COGNEX. The suggested undertaking will remove the whole overlap between your parties in this market.

The threat of entry:

Both potential and existing competitors influence average industry success. The threat of new entrants is usually predicated on the market entry barriers. New competition can decrease their value in the existing market.

Warner Lambert Company had this kind of danger during its procedure however the company needed some marketing steps that some new opponents were unable to endure like lifesaver drugs co.

The risk of substitutes:

The danger that alternative products pose for an industry's profitability depends on the relative price-to-performance ratios of the different types of products or services to which customers can turn to fulfill the same basic need. If customers find an alternative product that can meet their products need relatively lower price than own company than customer will attempt to adopt the alternative product.

Buyer power

When buyer are large in figures for something, demand for a product is higher then way to obtain a product. Buyer don't have option to negotiate with price and the manufacturer may charge whatever the price they need and vice-versa.

Supplier power

When distributor are large in quantity, the manufacturer have bargaining electric power negotiating with price relating terms and condition. Dealer cannot fee whatever they want rather the way manufacturer want to get.

TASK IV

Marketing metric is a measuring system that quantifies a tendency, dynamic or characteristic. In practically all disciplines, experts use matrix to make clear phenomena, diagnose causes, share conclusions and jobs the results of future events. Through the entire worlds of knowledge, business and authorities, metrics encourage rigor and objectivity. They be able to make observations across locations and time periods. They help understanding and collaboration.

Today, numerical fluency is a crucial skill for every business leader. Professionals must quantify market opportunities and competitive hazards. They must justify the financial hazards and benefits of their decisions. They must evaluate plans, clarify variances, judge performance, and identify leverage details for improvement-all in numeric terms. These responsibilities require a strong command word of measurements and of the systems and formulas that make them. In short, they might need metrics.

Today, marketers must understand their addressable marketplaces quantitatively. They must evaluate new opportunities and the investment had a need to realize them. Marketers must quantify the value of products, customers, and circulation channels-all under various rates and promotional cases. Progressively, marketers are held in charge of the financial ramifications of their decisions.

Managers must choose, calculate, and explain key business metrics. They must know how each is created and how to use it in decision-making.

Four of the marketing Metrics by which operations as the monitoring and analysis of marketing functions, are rapidly becoming critical to marketers are mentioned below

Warner-Lambert could assess its marketing performance by offering four effective Marketing Metrics

Integrated MARKETING AND SALES COMMUNICATIONS (IMC) Monitoring :

The Copernican IMC Keep an eye on paths and diagnoses the performance of most marketing communications vehicles, including advertising, presentation, public relations, advertising, direct marketing, and event marketing.

a. Advertising: By inceasing ad on different stations [electronic, media, paper, magazine]to start to see the impact of sales Warner Lambert product weather they increased or not.

b. Packaging:If the product get up, look, shape and size are better then automically consumer will draw in in to the product.

c. Public relation: If we offer free medical camp, free check-up and free treatments then consumer will satisfied to the business.

d. Direct marketing: If we go and give door door service then we are certain to get better fedback, so the impact of the sales will be increased.

2. CLIENT SATISFACTION Tracking

Based on breaking trends in neuro-scientific customer satisfaction and dimension, The Copernican Customer Satisfaction Monitor provides ongoing feedback on customer service programs and identifies potential vulnerabilities to competitive attack.

If the customer get a better service and if they satisfied, they'll keep purchasing and devoted and don't transition to the other product. If the client dissatisfied, they will not purchase and they'll switch to competition product then your Warner Lambert lose his market show.

3. Brand Collateral Analysis

Copernicus is rolling out a proprietary seven-factor model of brand equity to provide an overall assessment and an early warning system to make advancements in market show.

Customer shold have a high perceieved quality on Warner Lambert product, high brand awarness, strong brand asociation and strong brand loyalty on Warner Lambert products.

4. The Copernican Strategic Decision Simulator

The Copernican Strategic Decision Simulator is a cutting-edge marketing performance metric. Unifying customer product management, brand management, and marriage management, the Copernican Strategic Decision Simulator enables companies to track the ROI of any marketing investment. With the Strategic Decision Simulator marketing performance metric, marketers will know where you can commit and reallocate marketing dollars in order to attain the greatest revenue.

Using a strong value chain Warner Lambert should provide a product cheaper then its rivals, so that folks will catch the attention of to buy their product on a regular basis.

Invest in a business which is economically sound to ensure their ROI. Therefore Warner Lambert should make its company much competitive so that shareholders do not feel shy to invest onto it.

TASK IV

To

The Marketing director

Warner Lambert Pharmaceutical Company Ltd

Philadelphia, Pennsylvania, The United States of America

Subject: Advice for future marketing stregedy for Warner Lambert

Introduction

Company profile:Warner lambert was form in 1955, this company is set up by William R Warner. In 1886, Warner gave up his retail shop and

focused exclusively on drug creation under the name William R. Warner & Co. Now after several merger with companies like Lambert, Pfizer, Halls and Schick, the company now manages in over 130 countries with expertise in prescription pharmaceuticals. The business has trend to investment selectively in areas that offer the best medical and commercial probable.

In the last trading calendar year, this amounted to $425 million (£291 million) into the R & D for the prescription pharmaceuticals and consumer healthcare products segments or about 8% of total sales. For example, in recent season these have been; diabetes, cardiovascular disease, bacterial infection, and

cancer.

The company manages in three segments

1. prescription pharmaceuticals 2. Healthcare 3. Confectionery

Prescription pharmaceutical: This segment is the primary segment of the company, gaining around 40% of the total revenue. The marketplace show of the segment is high compared to the progress rate of its market. The patents in this section provide long-term monopoly status and royalties to the business. However most product in this segment have definite life pattern and required continuous enovation and research to endure on the market.

Healthcare: This portion provides 10 to 15 percent of the full total revenue. The market share of the section is high and market progress rate is low. However this section will provide good income for the business.

Confectionery:This section provides 5 to 8 percent of the full total revenue. The relative market talk about of the portion is low and market progress rate is high.

Recommendation

The company should think about better management of newer products and relaunching early on products which are now at a matured stage at its product routine. Relaunching, through various promotion and advertisements, will enable the business to revive its nearly dead product.

The company should now a adopt different market stragedies for each section as the market segments where they performs have different requirements for prescription pharmaceuticals the company should always make an effort to enovate and differentiate product to whole its market show. For the next two the business should make an effort to type in unseen opportunities in its market such as a new country or going into a new region

The company should concentrate more upon its measure segments the prescription pharmaceuticals and make an effort to allocate more resourcesof the business. Since it is the best income earner. This concentration should be on better market penetration, innovation R&D. Despite the fact that the company has a huge investment in R&D more focus continues to be needed.

The company should employed more of its concealed internal 'added-value' to increase competitive stance.

One thing good about the business is the fact it focuses investment selectively in areas that offer the best medical and commercial potential. It is highly advised that the business remains the stregedy keeping in mind of the other factors entail.

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