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MKTG 223 Professional Selling

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MKTG 223 Professional Selling

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Course Code: MKTG223
University: Centennial College

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Country: Canada

Question:

The Pfizer Company is a Canadian Company with its renowned maximisation in the biopharmaceutical industry across the globe. The Company mainly manufactures multisource medicines as well as dedicated to puts concern about the health and wellness of the Canadian people.
As a result of that the mission and vision statement of the company is strictly related to the wellbeing of the people. In this regard, the purpose of this report is to develop an understanding on the operational framework of the Pfizer Inc Company. In course of the discussion, the situation, product and services, marketing strategies and timelines are mentioned in order to foster a clear understanding of the current situation of the company and provide some recommendations for the betterment of its operational framework with Shoppers Drug Mart.
It can be concluded that the report truly emphasises on the different aspects of the Pfizer Inc Company and describes a development in the market orientation of the company. In course of this, the Pfizer Inc Company will be able to create a better marketing environment in near future.

Answer:

Introduction
The Pfizer Company is a Canadian Company with its renowned maximisation in the biopharmaceutical industry across the globe. The Company mainly manufactures multisource medicines as well as dedicated to puts concern about the health and wellness of the Canadian people. As a result of that the mission and vision statement of the company is strictly related to the wellbeing of the people (About Us, 2018). In this context, the company delivers quality products and sustainable solutions to the Canadian people. However, there are a number of ethical considerations related to the pharmaceutical companies across the world. In this regard, it becomes so important for the Pfizer Inc Company to maintain a good and sustainable code of ethics and compliance for creating an environment for integrity. For an instance, the Company does not reveal the components of its prescribed medicines in order to continue a code of ethics. As a result of fare and transparent business operations the company helps to boost up the Canadian economy at the same time.
In this regard, the purpose of this report is to develop an understanding on the operational framework of the Pfizer Inc Company. In course of the discussion, the situation, product and services, marketing strategies and timelines are mentioned in order to foster a clear understanding of the current situation of the company and provide some recommendations for the betterment of its operational framework. In addition to this, the report is going to discuss the relationship between the Pfizer Inc and its client company Shoppers drug mart and in what ways the Pfizer Inc successfully convince its client company.
Discussion
Situation analysis
Understanding the client’s organization
The client organization of Pfizer is the Shoppers Drug Mart Corporation, a retail pharmacy chain situated in Toronto, Canada. The organization has relatively 1,253 stores under the flagship of Shoppers Drug Mart in different territories. The changes that were undertaken by the organization in the initial stages of its establishment have helped the same in maintaining the paradigm of its continuous growth and expansion in the different international markets. The branches of the pharmacy are still operates in the different nations of the world like Israel, Poland and China under the flagship of the same. Collaboration with then different brands like Life Brand and Quo has helped in balancing the marketing strategies of the organization while operating in the different market structures. In the year 2013, the Loblaw Companies took over Shoppers Drug Mart Corporation for an amount of $12.4 billion in cash and stock (HomePage, 2018).
SWOT analysis

Strengths
· Excellent R&D (research and development) processes leading to innovation 
· Merger and acquisition with large pharmaceutical brands improving the reputation of the same
· Expansion over 50 nations around the globe

Weaknesses
· Tough competition in the market
· Negative brand image due to drug illegal and healthcare frauds

Opportunities
· Increasing awareness about healthcare needs of the people as per the diseases
· Global penetration through mergers and acquisitions
·  Promise of providing quality healthcare solutions

Threats
· Risk of economic fluctuations in the European markets
· Risk of unsuccessful innovations in the systems of the business

Positioning grid
MAM

Option

physical and athletic exertions

menstrual pains

headache

toothache

 

Score

Advil Caplet

0.2

0.03

0.07

0.12

 

0.42

Advil Gel Caplets

0.1

0.11

0.09

0.1

 

0.4

Advil tablets

0.05

0.15

0.1

0.05

 

0.35

Statistics from credible sources
Pfizer Inc. is considered to be the most popular and largest pharmaceutical companies while considering prescription sales revenue. The company yielded some $52.5 billion of total revenue by the end of the fiscal year 2017 (About Us, 2018). The net income of the organization is considered to be one of the topmost active multinational giant. The market value of the organization was calculated to be 209 billion U.S. dollars by the end of the fiscal year 2017. The different factor that has helped in the continuous improvement of the scenario of Pfizer is dependent on innovations in the field of pharmaceuticals.  The different factors that have helped in maintaining the different modifications in the systems of the business are through proper (R&D) Research and Development team. It has helped in identifying the health related needs of the consumers while developing the products. The company’s R&D expenditure was estimated to be around $7.7 billion, which is approximately 15% of the total revenue (Our Products, 2018). The organization also employed over 90 thousand employees in 2016, which has helped in maintaining the different developments in the practices and products. The long term assets of the organization and the revenues of the same have helped in the smooth functioning of the processes. The organization has maintained a continuous quality of the products that are developed by the same while operating in the different market structures. It has helped in the expansion of the businesses while operating in the international scenario. The R&D team of the organization has helped in enumerating the continuous innovations that has helped in the spontaneous improvements in the products as per the needs of the customers while operating in the different market structures.
Product and service solution
Product and service
There are varieties of medical products that the Pfizer Company has manufactured for the clients. In this regard, some important items of the company are Advil, Caltrate, Centrum, Nexium and Emergen-C. These products are identified as the consumer health care products. Moreover, there are other kinds of medical products that the Pfizer Company is manufactured (Our Products, 2018). Besides this, there are other medical products that the company is also produced. This kind of products is refereed as Prescription products and vaccines. For the benefits of the customers and the clients the company develops a database where all the products irrespective of their category are incorporated alphabetically with their specifications. Therefore, it delivers a client friendly environment that influence the clients to purchase products of the Pfizer Company.
Benefits of the products
It can be argued that the Pfizer Inc. is one of the biggest biopharmaceutical companies in the world. Therefore, the brand value of the company is quite high in respect to other short and medium enterprises. Due to its intense market capitalisation and control it will be beneficial for the Pfizer Company to provide more benefits to the clients by manufacturing new products.

In this context, the first benefit of these products is close to the health and wellness of the people. Pfizer offers some health and wellness programs through their marketing of their products that help to maintain health and wellness. It includes programs like medical screening, health and disability insurance, discounts on Pfizer products and reduced vaccination costs (Silvestrin et al., 2016).
Moreover, the quality of the products is very significant. In its mission and vision statement, the company argue that they offer the best quality medicine for their customers. As a matter of fact, the brand image of the company reflects the assurance of maintaining quality that drives the retailers to purchase products from a reliable pharmaceutical like Pfizer (Hauben, Hung & Hsieh, 2017).
Moreover, the Pfizer Company is popular for its innovations and creativeness. The operational team of Pfizer is very efficient in this regard. As per the annual report of the company, it can be seen that the company management also lingers with the nourishment of the creativity and innovation (Simon et al., 2015).

Specifications to substantiate offering
In this context, it is important to mention the specifications of the products delivered by Pfizer Inc. However; the company strictly maintains its ethical considerations while dealing with the clients. In this regard, Pfizer Inc. does not want to reveal the details of its products that are categorised with the prescribed format (Liu & Mould, 2014). The reason behind such strict regulation can be identified as there are some possibilities to tamper with the product specifications of the company. Only the doctors with their professional Ids are able to get the information.
Besides this, in case of the non-prescribed products, the company reveals information very little. According to the Company website, the Advil types are divided into three types Tablets, caplets and gel caplets. The dosage of the capsules is accounted from 200mg to 600 mg and is used mainly for aches, pains in muscle and arthritis (ADVIL, 2018). The Caltrate products are mainly used for calcium supplements. However, there are adequate amounts of vitamin D that can be used for lack of vitamin as well.
Solution for the client’s business goals
According to the Mission and purpose statement of the Pfizer Inc it can be stated that the purpose of this company is to ensure the safety and improvement of the patients’ health condition (Chin et al., 2016). Therefore, the products in terms of medicines provided by the Pfizer Inc. are responsible to bring relief to the patients. As a matter of fact, the business goals of the clients are also resembled with the purpose of the Pfizer Inc. and effective serve the purpose of the company as well (About Us, 2018).
Support service
Describe warranties and guarantees
The Food, Drug and Cosmetic Act (hereinafter “FDCA”), the Prescription Drug Marketing Act of 1987 (“PDMA”) has helped in enumerating the safety and the security of the patients (Fischhoff, 2017). On the other hand, the products that are offered by the organization are not obtained through any kind of fraud, misrepresentation or concealment. It helps in identifying the different security and safety based concerns of the patients utilizing the medicine. The organization also guarantees against internal controls as is outlined in their policies and procedures for ensuring that all the products are stored and shipped in appropriate temperatures. The products offered by the organization   is aimed at not violating the PDMA of 1987, the PDMA Amendments of 1992, the FDCA or any other Federal, State or local law, ordinance or regulation (Leontiadis & Hutchings, 2015). It has helped the organization in maintaining a legal backdrop for the processes that are undertaken by the same.
Help Desk
The organization has a customer support team, which is available 24*7 hours. The help desk is being created to assist the customers of the organization with the issues that are faced by the same (Hiles & Hon, 2016). The customer support systems of the organization has helped in communicating with the chief stakeholders of the business and thereby to gather feedbacks from the same on the different issues that are faced by the people through the utilization of the products. It not only assists the customers but also records the feedbacks from the same, which helps the R&D team of the business to bring in relative innovations based on the issues (Serbest et al., 2015).
Return Policy
The return policy of the organization is based on the identification of the issues that are faced by the customers of the business. It aims at providing the customers with an effective after- sale service, which will be helping the business to bring in efficiency in the performance of the same while operating in the international markets (Rahman, 2016).
Training and costs
The training that is being delivered by the organization is based on the enhanceme4ndy of the communication skills of the employees, which will be helping the business to record the feedbacks of the customers more effectively (Helmreich & Merritt, 2017). Training based on the technological aspects to the R&D department of the business will be helping the business to bring in continuous innovations, which will be helping the organization to sustain in the international markets (Leelasarada, Babu & Kumar, 2017). The enumeration of the cists will be based on the kind of training and the machinery that will be installed by the organization while forging the modifications in the systems and operations.
Costs that might be incurred by the organization
The costs that might be undertaken by the organization while bringing forth changes in the systems, methods of the business are based on the transportation, installation cost and other expenses of the different systems. It helps in maintaining the various levels of change in the systems of the business. The proper functioning of the systems of the business is relied on identifying the needs of the organization to sustain in the international markets (Helgesen & Fosse, 2017).
Pricing and financing
Pricing is considered to be a determinant factor in respect to the market maximization of a company. In this regard, if the companies will set high price strategy then it might be less effective to attract more clients. In fact, it will go against the ethical standpoint of the company. As the Pfizer Inc. follows a mission statement to help as more people as they can therefore the high price strategy will lead against their aims and objectives. Moreover, most of the people cannot afford high price medicine which can hurt the benevolent image of the Pfizer Company. Therefore, it is pivotal for the Pfizer Company to set a strategic pricing strategy that is beneficial for the company.
Based on this understanding, it can be argued that the Pfizer Company is going to take a deep concern on its product prises and manufacturing expenses. Moreover, the company also follows a strategy of 30% off for the retailers and for the premium clients the rebate of 40 to 50 % which facilitates a willingness of the client to buy the Pfizer products in a larger amount. As a matter of fact, like all the other companies Pfizer also set its product price high in compare to the costs of the production. Therefore, offering a 50% off on the products does not pose any threat to the business and profit of the company. Besides this, it seems realistic to the clients to get quality products in such a affordable price. In this regard, it can be stated that the Pfizer Company does not set the low price strategy for the products. It always maintains a stable and moderate price for the medicines. The reason behind this is that the clients may be getting sceptical about the quality of the products as the quality mismatches the price. Hence, it is better to continue a moderate pricing strategy rather than looking for high or low price strategy.
Moreover in the competitive market it can provide a better establishment for the Pfizer Company. In fact, the company is able to establish a strong brand image in the intense competitive market of pharmaceutical products in Canada. Most of the pharmaceutical retailers are willing to purchase quality products that are manufactured by the company and as a result of that the Company successfully maximises its marketing. However, there are other companies that are also endorsed quality products. In this regard, price is identified as one of the important determinant factors to expand the business of Pfizer Inc. The price of Advil tablets costs $40 for 200 ct caplets. Moreover, the Advil Gels accounts $8.66 per count with a total amount of $26. As a result of that it can be argued that the price of the Advil products are easy to afford and the retailers are able to generate profits because of getting sales up to 30-50% for each product.
As a matter of fact, the financial revenue of the Pfizer Inc. is quite promising from 2016 to 2017. It can be seen that the revenue increases from $52 billion in the 2016 to $54 billion in 2017. It proves the Company successfully maximising its profit and attracts more clients to purchase their products. In this context, Advil is identified as a leading product of the company along with Prevnar 123, Viagra and several other OTC consumer products.
Marketing strategies
Promotional activities
Promotion in business can be defined as a significant part that facilitates a communication with the external environment of the company. In other words, it can be opined that the business promotion or the advertisement is considered to be a medium that is related to the behaviour of the customers and the clients (Mackley, 2017). In this regard, the external environment is associated with the customers and the clients. The purpose of promotion is to attract more customers to buy specific products of a company. Therefore, most of the companies implement some measures or strategies in order to influence more and more customers. Strategies are based on two types of categories. One is related to the direct approach where the company influences the customers verbally. On the contrary, the indirect promotional approach is associated with the strategy of convincing the clients through different tools like television, social media.
Potential co-branding opportunities
In this context, the Pfizer Inc is putting emphasis for the co-branding opportunities. As far as the co-branding strategy is concerned, it can be articulated that there are some benefits of this strategies that the Pfizer Inc. can implement in its promotion. Co-branding is an effective step to generate more creativity and efficiency in the manufacturing process of the company (Mackley, 2017). Moreover, the cost of the production is divided into the co-brands and as a result of that the production expenses are getting reduced.
Public relations
Public relation marketing encompasses a number of benefits in response to the promotion of the products. In this regard, a well planned public relation leads to the effective methods to communicate with the clients and in return get an understanding about the ideas and perception of the clients in regards to the company (Mackley, 2017). Moreover, enhancing the image and brand value of the company is also an important aspect for the public relation department. Therefore, it will be a strategic advancement to incorporate the public relations in the marketing strategy of Pfizer Inc.
Co-op advertising
In course of the discussion, the cooperative advertising is defined as a partnership developed between two manufacturers or retailer in order to share the costs of the advertising (Rücker, 2017). Based on this understanding, it can be stated that the Pfizer Inc Company and the Shopper Drug Mart Corporation must have implement a cooperative advertising strategy. As a result of that it will be beneficial to reduce the advertising costs of the Pfizer Inc Company. Moreover, it can be stated that the companies can get more exposure without increasing their personal advertisement spend and as result of that it will be beneficial for both the companies.
Guerrilla marketing
Guerrilla marketing is associated with the understanding of the low cost unconventional marketing tactics with the purpose to generate maximum results. In addition to this, the guerrilla marketing relies on high energy and imagination (Dempsey, 2016). Surprising consumers and make an incredible impression are considered to be the main traits of this marketing strategy. Therefore, it will be an effective measure for the Pfizer Inc Company to develop a guerrilla marketing in order to effectively maximize its market.
Implementation and timetable

In this regard, the company should implement the marketing strategies in an effective manner. At first it is important for the company to set some framework on the training of the employees as per the requirement of the marketing planning. Therefore, it can be stated that the training will be focused on making the brand image of Pfizer Inc. on a more profound basis so that it can dominate the pharmaceutical market more firmly. in this context, making a better relation with the Shoppers Drug Mart can be an effective measure and the company is going to train its employees on the way to make better communication. After that, it is important to plan the possible marketing strategies. In this regard, the co-branding opportunities, public relation, co-op marketing and Guerrilla marketing are the major marketing strategies that the Pfizer Inc. is going to implement. After that, promotional strategy will deliver a better communication with the public relations department. The role of the public relation department is to develop a better communication with the clients so that the clients become more interested in purchase Pfizer products.
Conclusion
There are a number of references regarding the business operations of Pfizer Inc. Company. In this regard, the report includes situational analysis and the product service solutions in such an order that it reflects the existing business operations of the company. In addition to this, the supporting services also reflect the situation of the company and its relation with the Shopper Drug Mart. As a result of that the report is going to analyse the pricing and financing statements of the Company and based on this understanding it recommends some marketing and promotional strategies. In the end it delivers a proper understanding of the implementation mechanism and the timeline to introduce a progress in the course of the planning. Therefore it can be concluded that the report truly emphasises on the different aspects of the Pfizer Inc Company and describes a development in the market orientation of the company. In course of this, the Pfizer Inc Company will be able to create a better marketing environment in near future.
References
About Us. (2018). Retrieved from https://www.pfizer.ca/about-us
ADVIL. (2018). Retrieved from https://www.pfizer.ca/non-prescription-products/advil
Chin, K. L., Collier, T. J., Pitt, B., McMurray, J. J., Swedberg, K., van Veldhuisen, D. J., … & Krum, H. (2016). Aspirin does not reduce the clinical benefits of the mineralocorticoid receptor antagonist eplerenone in patients with systolic heart failure and mild symptoms: an analysis of the EMPHASIS?HF study. European journal of heart failure, 18(9), 1175-1181.
Dempsey, E. (2016). Betting on Guerrilla Marketing: An Investigation of the Impact of Outdoor Guerrilla Advertising by Paddy Power on the Brand Engagement of Irish Male Millennials.
Fischhoff, B. (2017). Breaking ground for psychological science: The US Food and Drug Administration. American Psychologist, 72(2), 118.
Hauben, M., Hung, E., & Hsieh, W. Y. (2017). An exploratory factor analysis of the spontaneous reporting of severe cutaneous adverse reactions. Therapeutic advances in drug safety, 8(1), 4-16.
Helgesen, M. K., & Fosse, E. (2017). Advocating for Health Promotion Policy in Norway: The Role of County Municipalities.
Helmreich, R. L., & Merritt, A. C. (2017, November). 11 Safety and error management: The role of crew resource management. In Aviation Resource Management: Proceedings of the Fourth Australian Aviation Psychology Symposium: v. 1: Proceedings of the Fourth Australian Aviation Psychology Symposium. Routledge.
Hiles, A., & Hon, F. B. C. I. (2016). Creating a Customer-focused Help Desk: How to Win and Keep Your Customers. Rothstein Publishing.
HomePage. (2018). Retrieved from https://corporate.shoppersdrugmart.ca/en-ca/Home.aspx
Leelasarada, V., Babu, B. S., & Kumar, B. S. (2017). The impact of training on organisation performance in manufacturing industry. IJAR, 3(8), 752-758.
Leontiadis, N., & Hutchings, A. (2015). Scripting the crime commission process in the illicit online prescription drug trade. Journal of Cybersecurity, 1(1), 81-92.
Liu, P., & Mould, D. R. (2014). Population pharmacokinetic-pharmacodynamic analysis of voriconazole and anidulafungin in adult patients with invasive aspergillosis. Antimicrobial agents and chemotherapy, AAC-02809.
Mackley, A. (2017). An investigation to identify the most effective use of promotion tools that could be implemented at trade shows to benefit the organisation as an exhibitor(Doctoral dissertation, Cardiff Metropolitan University).
Our Products. (2018). Retrieved from https://www.pfizer.ca/our-products
Rahman, M. I. (2016). New perspectives on design and delivery: The context of service desk (Doctoral dissertation, Queensland University of Technology).
Rücker, M. S. (2017). A critical evaluation of the influence of creative thinking on marketing creativity.
Serbest, S., Goksen, Y., Dogan, O., & Tokdemir, A. (2015). Design and Implementation of Help Desk System on the Effective Focus of Information System. Procedia Economics and Finance, 33, 461-467.
Silvestrin, T. M., Steenrod, A. W., Coyne, K. S., Gross, D. E., Esinduy, C. B., Kodsi, A. B., … & Luo, X. (2016). An approach to improve the care of mid-life women through the implementation of a Women’s Health Assessment Tool/Clinical Decision Support toolkit. Women’s Health, 12(5), 456-464.
Simon, R., Blumenthal, G. M., Rothenberg, M. L., Sommer, J., Roberts, S. A., Armstrong, D. K., … & Pazdur, R. (2015). The role of nonrandomized trials in the evaluation of oncology drugs. Clinical Pharmacology & Therapeutics, 97(5), 502-507.

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