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Marketing Management (Solved)

   

Added on  2020-10-22

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Marketing and Management1

Table of ContentsIntroduction......................................................................................................................................1PART-1 Pharmaceutical Market Audit............................................................................................1Part 2: Market Analysis...................................................................................................................2Marketing Macro-Environment.......................................................................................................3Micro Environment..........................................................................................................................4Task 3: Audit....................................................................................................................................5Q1 How is this Pharmacy described from the options given below?.........................................5Q2 what is the method of working of this Pharmacy?................................................................5Q3 How is the pharmacy location described from the following given options? It is in...........5Q4 what is the working hour of this pharmacy?.........................................................................6Q5 On which time does this Pharmacy open?............................................................................6Q6 What is the total floor space size of this pharmacy?.............................................................6Q7 How is the pharmacy floor space distributed what is the proportion which is given tothem?...........................................................................................................................................6Q8 How many customers interaction has been done within the pharmacy when customersvisits them to purchase medicines from them?...........................................................................6Q9 Estimate of proportion of customers served for the purpose of in a month?........................6Q10 what is the annual turnover of the pharmacy in the year 2018-19 from the following?.....6Q11 what is the sales figure of private prescriptions from this pharmacy in 2018-19 financialyear. Please give your feedback on the private prescriptions sales and their value?..................6Q12which of the following government PSB support pharmacy service does yourpharmacy received in the financial year 2018-19?.....................................................................6Task 4: Recommendation................................................................................................................9CONCLUSION..............................................................................................................................10References......................................................................................................................................122

IntroductionPharmaceuticals are the knowledge supported, technology intensive and a industry thathelps in promoting the societies health care. These industries helps in building medical researchand commercialise the resources that are available in the environment. In Australia the pharmaindustry comprises of bio medical and bio technological firms which helps in building andexpanding the pharma market in the country. The company taken for the purpose of the study ofthe report is Australian Pharmaceutical Industries which was founded in the year 1910 and has abusiness in wholesale distribution, manufacturing and retailing of the pharma products. It has itsheadquarters in New South Wales, Australia. This report will help in understanding the market ofthe pharma companies and the what the environmental factors that are affecting them. Also theanalysis of marketing mix would be done so as to improve the current market level.PART-1 Pharmaceutical Market Audit Pharmaceutical industry one of the fastest growing industry in Australia with exports ofaround $3.9 billion in the year 2012-13. This sector is one of the leading contributors which hashelped in increasing the manufactured exports figure of Australia at a good rate. It has been seenin the Australian market that the growth of the industry is dependent upon the pharma drugs,increasing cognizance of the need for early detection of chronic disease. It has been analysed thatdespite being small population country the consumption of medicines is relatively high. Thesales of pharma products in the Australian market helped the country to be ranked as 12th largestconsumer market. The government has also developed a scheme known as pharmaceuticalbenefits scheme for all the eligible patients which helps the companies in increasing their marketrevenue (Desbordes, 2012). As the industry is not distilled, so there involves a number ofopportunities that will help the pharma companies to expand their business in the country. Theretail pharmacist plays a primary role of distribution of the medicines. Traditionally thepharmacies have changed over time significantly so that the distribution can be made in easierway. The supply in the pharma market in Australia are dominated by global companies. As thereis entry of the multinational companies it has resulted in increase in market competitions for thelocal suppliers. They are facing a huge amount as they lack funds, which is the strength of thosemultinational companies. Despite high turnover and huge amount of opportunities available to3

the companies they are still very fragmented as the customers are not satisfied with the pricingtechniques and the profitability that the companies offer to their customers. The companiesshould focus on customer relationship management process so as to promote their brand in themarket. They should primarily focus on marketing, sales and services which they can provide totheir customers. Companies should focus on developing the medicines that does not have sideeffect on the body of the person who are taking it. They should develop the products using bestquality of raw materials. Australian industry of pharma is the largest supplier of Pharmaceutical benefits schemeby market share which gives the companies to capture the opportunity of gaining maximummarket share. For companies it is beneficial as the dispensing fees is set by the government andis adjusted on first date of July every year (Gayle and Goodrich, 2014). This helps in increasingthe sales figure for the general pharmacist which in turn make grows turnover of the pharmacompanies. As cost of medicine is below the general patients payment cost. So it become easierfor the patients to purchase the medicines. As government prescribes the price of the medicinesin PBS, but the total cost remains uncapped because of which overall cost of the medicinesincreases as every day new drugs are added. Different strategies has been made by thegovernment so that PBS remains affordable for the citizens of the country while providing wayto affordable necessary medicines and helping pharmaceutical industry to grow. Due to thisvarious stakeholders are affected which includes:Consumers Dispensers WholesalersPharma industryPart 2: Market AnalysisPharmaceutical industry produces, create and market pharmaceutical drugs for their useas medicines to be delivered for the patients so that it can help in curing them from the symptom.These industries deal in generic or brand medical services and medications. Patenting,experimentation, safety and selling of drugs are the subject that is governed by law andregulations as concerned. Analysing the market for pharmaceutical companies comes across tothe area of demand and it defines it with the help of three important roles of physicians who4

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