Pfizer Marketing Mix: Pfizer is associated with the Pharmaceutical industry and is involved in the healthcare segment. The company is traded on the stock exchanges and is a public business with American roots. Pfizer was established in 1849 and was founded by Charles F. Erhart and Charles Pfizer. It’s ranked in fourth place in the rankings of top pharmaceutical corporations worldwide.
Marketing Mix Of Pfizer
Marketing Mix Of Pfizer is brand-based. In Marketing Mix Of Pfizer, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Pfizer Marketing Mix. Below is the detailed Marketing Mix Of Pfizer.
Let’s talk about Pfizer Marketing Mix.
Pfizer Main Competitors
- Johnson & Johnson
- Bristol-Myers Squibb
- Abbot Laboratories
- Sun Pharma Industries
Pfizer official website: www.pfizer.com
Product in the Pfizer Marketing Mix:
Pfizer is one of the biggest pharmaceutical companies in the world. It is a research-based company that creates, markets, manufactures, and discovers new healthcare products. The company has split its business into nine divisions: Capsuget, Animal Health, Nutrition, Consumer Healthcare, Established Products, Emerging Markets, Oncology, Specialty Care, and Primary Care.
The company is involved in the marketing and production of generic drugs. The product line of Pfizer includes medicines and vaccines used in medical fields and provides immunology, oncology, cardiology, neurology, diabetes, and oncology. The main products it offers include
- Lyrica Neuropathic pain
- Zyvox is an antibiotic used to treat bacteria-related infections
- Selzentry – HIV entry-inhibitor
- Zoloft – Antidepressant
- The antibiotic Flagyl is a Nitroimidazole
- Zithromax is a Macrolide antibiotic
- Diflucan is a treatment for fungal-related severe infections
- Norvasc – Antihypertensive drug
- Prevnar – Invasive-pneumococcal infections
- Atorvastatin – Hypercholesterolemia
Consumer HealthCare Products
- Robitussin – coughs and colds
- The preparation of H Hemorrhoid cream
- Dimetapp – Cold
- Lip Balm Lip Balm Lip Balm
- Centrum Multivitamin
- Advil -Fever and discomfort
Place in the Pfizer Marketing Mix:
Pfizer is a multinational company with a presence in over eighty markets worldwide, including Hungary, Mexico, Spain, Nigeria, Switzerland, New Zealand, Australia, Colombia, Ecuador, Angola, and Ireland. Its headquarters are in New York City, and research-head in Groton in the United States. The offices are within the United Kingdom, Puerto Rico, Panama, Mexico, Cuba, Canada, Brazil, and Belgium. The laboratory for medical research was previously located in New York City, and in 1960, it moved to Groton.
Other research facilities are located in Cambridge and Sandwich in the United Kingdom, St. Louis in Missouri, Kalamazoo in Michigan, La Jolla, and South San Francisco in California. It is a well-established distribution network backed by solid sales and marketing infrastructures and an experienced and skilled workforce of over 110,000 employees.
Price in the Marketing Mix Of Pfizer:
At the end of the fiscal year 2015, Pfizer reported its earnings as 48.85 billion dollars and net earnings as 7.74 million dollars. It is a multinational corporation and has targeted large businesses and operators as its target clients. Pfizer offers a multi-step pricing system that goes through several stages to determine a particular option’s price. It’s a complicated analysis and also influenced by risk, benefits, competition medicines, and doctors’ feelings. Pfizer is committed to research and development excellence. It has had remarkable commercial success with its ventures. The company is focused on making a difference in the world and humanity through its initiatives. It thus employs a flexible pricing strategy based on market conditions and the competitive environment.
Promotions in the Pfizer Marketing Mix:
Pfizer has solidly recalled its brand and has embraced powerful and effective marketing campaigns. The company has aired ads in various medical journals to increase brand recognition and exposure. Pfizer is conscious of its responsibility to nature and society. It has reduced its greenhouse emission by a percentage of 20% and has determined to further reduce its emissions by an additional amount of 20 percent. It is part of the U.S. Global Leadership Coalition that offers the opportunity to contribute to American humanitarian, development, and diplomatic initiatives. Fluconazole, an anti-fungal medication, is available at no cost to non-governmental and government-owned organizations in countries with more than 1% of the population with HIV/AIDS.
It has joined forces with GAVI Alliance to offer an anti-pneumococcal vaccine that contains 740 million doses for 41 emerging countries at discounted rates. In 2012 Pfizer provided affordable access to the injectable contraceptive it shows in the developing world for more than 3 million females. Pfizer has received numerous honors and awards, such as the Most Respected MNC and Multinational Pharmaceutical Company of the Year.
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