Salman Sheikh

Degree

Master of Business Administration Executive

Faculty / School

Faculty of Business Administration (FBA)

Year of Award

2015

Project Type

MBA Executive Research Project

Access Type

Restricted Access

Executive Summary

In Palcistan Pharmaceutical industry, there is a significant shift in last few years between tlie market shares of national and multinational pharmaceutical companies operating in Pakistan, previously there were only very few local pharma companies, keeping very low market share of , Pakistan pharmaceutical industry and large number of multinational pharmaceuticals, keeping the majority of the share of Pakistan pharmaceutical industry. But in last few years, the picture of , Pakistan pharmaceutical industry has greatly swapped. Now the major share of tlie pharmaceutical industry in Pakistan is in hands of national pharmaceutical companies and the number of multinational pharmaceutical companies has greatly reduced by the merger and acquisition worldwide like merger of Glaxo, Welcome and beecham as GSK (Glaxo Smithldine Beecham), acquisition of Bristol Meyer Squib (BMS) and Stiefel by GSK, acquisition of knoll by Abbott, etc. some companies like MSD (Merck Sharp & Dhome) winded up their business and sold to local pharmaceutical companies. MSD sold to OBS (Organon Bio Sciences)

For better execution of promotional tools, pharmaceutical marketing Mix is developed. The pharmaceutical marketing Mix is a set of promotional tactics used for marketing and selling pharmaceutical products. Marketing Mix in Pharmaceutical industry is different from other industries, there is greater marketing Mix spending on the sales force.

In-CIinic, promotional Mix includes detailing aid, leave behind material, samples, promotional giveaways/Gifts, and direct mailers etc. etc.

Out-Of-Clinic promotional Mix includes clinical trials/ studies/ seminars/ symposia/ round table discussion, academic conference sponsorships, film shows, advertisements, public relations, free medical camps, corporate marketing, hospital/ward improvement programs. E-marketing etc. etc. But the success of all above activities depend upon how motivated and effective are the sales force, because they are the one who are actually going to implement the strategies made by the strategists in closed room. If the sales team are highly motivated and result oriented then the chances of success are high and on the other hand if sales team ai-e not motivated and effective then there is surely a failure of the strategy.

The research paper also gives an insight about the different motivational tools used by the different pharmaceutical companies in Pakistan to make the most of their sales team.

Pages

49

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