Studying And Developing Pharmaceutical Marketing
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1. Introduction to the topic
What marketing is all about?
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.
Marketing deals with identifying and meeting human and social needs. One of the shortest definitions of marketing is meeting needs profitably.
Marketing facilitates the exchange process and the development of relationships by carefully examining the needs and wants of consumer, developing a product and services that satisfies these needs, offering it at a certain price, making it available through a particular place, and developing a program of promotion to create awareness and interest.
All marketers need to be aware of the effect of globalization, technology, and deregulation. Rather than try to satisfy everyone, marketers start with market segmentation and develop a market offering that is positioned in the minds of the target market.
Marketing Mix
Marketing mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market.
Marketing-mix decisions must be made to influence the trade channels as well as the final consumers. Typically, the firm can change its price, sales-force size, and advertising expenditures in the short run. However, it can develop new products and modify its distribution channels only in the end. Thus, the firm typically makes fewer period-to-period marketing-mix changes in the short run than the number of marketing-mix decision variables might suggest.
The topics that are discussed above give us a very brief idea about what marketing is. It also gives us an outlook about how necessary and important marketing is, in a company.
2. Introduction about the Project
Marketing is a very important part of any company as it helps the manufacturer to take his products to the people and sell them. It is a very effective tool used by the company to sell their product and make them popular among the people. However, it is not as easy as it is said. The market keeps changing everyday and according to it, the marketers have to implement their new ideas.
In the early days, marketing was restricted to daily products like food, clothing etc. but now marketing plays a very important role in the Pharmaceuticals industries also. During the last three decades many pharmaceutical and research firms have emerged in the market with new products. Many of them were having same product with a different name. This made things difficult for these Pharma industries and they were in need of marketing their products. Hence, marketing come into the picture and it played a very important part in promoting and selling their products. For example, aspirin and disprin have same formulation but they are sold with different brand names.
This project gives an idea about how marketing is done in a Pharma company, how they sell their products and how they try to capture the market with there marketing strategies. This report also gives us an idea of how the marketing strategies are applied in a company and how they work for marketing the product which is little different from what we study in textbooks.
3. Company’s Profile
Darwin Research and Ayur Pharma was founded by Dr Laxman Reddy, a entrepreneur-scientist, in 1987. Dr Reddy laid down the main structure of the company and the main aim of foundation was research on ayurvedic and allopathic medicines. It was India’s first company, which has both the researches done simultaneously, and the products launched were having a combination of ayurvedic as well as allopathic medicines In fact, it is the spirit of entrepreneurship that has shaped the company to become what it is today.
The company has several distinctions to its credit. It is the first pharmaceutical research unit of India to do combine research on ayurvedic and allopathic medicines. It was established in Vijayawada near Hyderabad but it has now it branches spread out in different cities of the country. Apart from research and development the company also manufacture medicines both ayurvedic and allopathic which are very much popular in the market.
Dr. Laxman Reddy is well known for his passion for research and drug discovery. His research work on ayurvedic and allopathic medicines have been a great achievement in Indian pharmaceutical society.
Today, the company manufactures and markets Finished Dosages and Biologics in different cities of India, in addition to having a very promising Drug Discovery and Research Centre.
Today, Darwin Research and Pharma continue its journey. Taking on new challenges and growing stronger and more capable. Each failure and each success renewing the sense of purpose and helping the company evolve.
With over 300 scientists working in the company, around the clock, the company continues its march to discover and deliver a breakthrough in medicine to fulfill the medical needs of the people.
4. Products of Darwin Pharmaceuticals
Few products of Darwin Research and Ayur Pharma are described briefly follows:
Tablet Inflabid
This tablet reduces inflammation associated with pain due to gingivitis, root canal, tooth extraction, surgeries etc. This tablet contains diclofenac and serratiopeptidase drug as its main contains.
Tablet Calvit-DS
This is a calcium tablet, which bridges the calcium deficiency gap in the body. It helps the bones to be strong and helps in faster recovery from fractures. They can be taken by pregnant ladies, patients with orthopedic disorders and to maintain general calcium level in the body. The main drug in this tablet is Elemenal calcium 500mg and Vitamin D3.
Tablet Panzole-D
This tablet helps from everyday stomach disorders due to heavy and spicy food. It helps to overcome hyperacidity, heartburn, nausea and vomiting etc. The main drugs used in this medicine are Pantoprazole