Transcript Lecture 1
The essence of global pharmaceutical marketing Definitions of marketing ‘Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably’ The Chartered Institute of Marketing Definitions of marketing ‘The right product, in the right place, at the right time, and at the right price’ Adcock et al Definitions of marketing ‘Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others’ Kotler 1991 Essence of international marketing Global industry – is an industry in which the strategic positions of competitors in given geographic or national markets are affected by their overall globed positions. Global firm – is a firm that, by operating in more than one country, gains R & D, production, marketing and financial advantages in its costs and reputation that are not available to purely domestic competitors. Global marketing - marketing that is concerned to the integrating or standardizing marketing actions across different geographic markets. Global Marketing Into the TwentyFirst Century Global competition is intensifying Global firms face several major problems: – Variable exchange rates, – Unstable governments, – Protectionist tariffs and trade barriers, – Corruption. Decisions in International Marketing The exit of firms on the international market is initiated by variety of factors which have received the name of motives of the beginning of activity of the enterprise in foreign markets. These are motive forces thanks to which the pharmaceutical firm starts to export the production for the purpose of use or development of available resources so to reach long-term and/or firm short-term objectives. Decisions in International Marketing Proactive motives Profit and growth. Ambitions and a direction of experts in marketing. Unique medical product. Possibilities of the foreign pharmaceutical markets. Economy on scales of pharmaceutical manufacture. Taxes and other financial benefits. Decisions in International Marketing Jet motives Unforeseen foreign orders. Pressure of competitors. The insufficient sizes or activity decrease in the internal pharmaceutical market. Superfluous capacities. Affinity of foreign consumers. Obsolescence of own preparations. International marketing planning model Exit stages on the international market Looking at the Global Marketing Environment Deciding Whether to go International Deciding Which Markets to Enter Deciding How to Enter the Market Deciding on the Global Marketing Program Deciding on the Global Marketing Organization Today's of the pharmaceutical market Today's of the pharmaceutical market Today's of the pharmaceutical market Today's of the pharmaceutical market In spite of difficult market conditions and patent expiry of several blockbuster drugs, the global pharmaceutical markets expanded to $770 billion in 2008. Biotechnology and generic industry once again increased their share of the global pie to $120 billion and $ 80 billion respectively. In spite of increased generic and new arrival competition, Lipitor retained its top position as the best selling global drug. It was followed by Plavix and Enbrel. Today's of the pharmaceutical market Today's of the pharmaceutical market Lipitor® still remains the world best selling drug with projected sales of $13.3 billion as its 12% sales decline in the USA was offset by higher international revenues and weak dollar. It was followed by Plavix and Enbrel. It is the first time that a biologic product has taken the 3rd top selling medicinal brand. Four biologics made the top ten best selling list and seven biologics made the top twenty lists in 2008. Patent expiry resulted in loss of sales of last year best sellers like Risperdal®, Fosamax®, Prevacid®, Protonix® and Norvasc®. Regulatory action by FDA (black box warning, restricted use and labeling changes) resulted in loss of sales for Avandia® as well as Aranesp and other erythropoietin brands. Tamiflu® loss of sales was due to lack of demand to renew the stockpile for future avian flu pandemic. Seven brands had sales greater than $ 5 billion and fourteen drugs with sales more than $ 4 billion in the year 2008. Today's of the pharmaceutical market Today's of the pharmaceutical market Today's of the pharmaceutical market Today's of the pharmaceutical market Thank you for attention!