PhamaSim is one of the most established Pharmaceutical companies in America. With the increasing development of the pharmaceutical industry in the country, this company has to adopt modern and workable marketing plans that will give the company a competitive edge over the rest. To achieve this objective we have developed a few smart goals that will help us gain a competitive edge over the rest of the companies.
One of the biggest priorities for this company is to promote various brands of products in the market. Our brands should be the obvious choice of most buyers. Approximately seventy percent of the buyers choose a product that is appealing to their eyes on the first look. Packaging should be a major priority in promoting various brands of products in the company. If the goods are packaged in the right manner, sales of the products are likely to improve by thirty to fifty percent. To achieve this goal, we need to invest in the packaging of our products. We need to get the correct designs for our packages that will help the buyer relate to the product. We should hire competent designers to give our products good designs that the society can associate to. Secondly we should promote the quality of our packages and increase their usability. Improving the quality of the material of the packages especially the expectorants will make our products the obvious choice of many conservative clients who prefer to reuse the packages.
Another marketing strategy that will help improve PhamaSims market base is by giving promotional discounts to pharmacies and chemists selling these products. These discounts will help improve the usability of the drugs. Marketing prescription drugs is a hard task since one cannot advertise them openly. The forums for advertising these drugs are limited due to the professional ethical issues involved (Santoro& Gorrie, 2005). Discounts will win over the pharmacists and influence their decision on the brands of drugs to give to their patients. These discounts will not only help market the goods but also will develop good relations with different drug stores and help build a reputation for the company.
Goal Tactic 1 Tactic 2 Tactic 3
Create attractive brands This will be done by hiring creative art designers that will create designs and packages that most people can associate with. This can also be achieved by carrying out researches on images that would be appropriate for the company and let our design team make them. This process night be long and inaccurate The other tactic will be to buy the rights to some of the images online. This will be a costly move and might rob the brand of its originality.
Change the packaging This can be achieved by creating reusable packaging. This can be a costly affair but will give the company instant benefits. Alternatively, the company can use the same packages but change the covering. This will rejuvenate the income as people will perceive them as new items. Alternatively the company can buy better designed packages and use them to promote the brand.
Change the contents to promote usability This can be achieved by a long integrative process that will promote the usability of a product by changing composition of the products. The brand can be changed by adding a few components that will make the product work better. One can alter the concentrations of the components to make the brand superior to its competitors and increase the market base.
Santoro, M. A., & Gorrie, T. M. (2005). Ethics and the pharmaceutical industry. Cambridge: Cambridge University Press.
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