Marketing Korwin Pharmaceuticals

Marketing
Korwin Pharmaceuticals

Introduction
• Exchange relationship study and management
• Creating relation and satisfying customers (Kotler, Bowen, Makens & Baloglu,
2017)
• Marketing can be Business to Business (B2B) or Business to Consumer (B2C)
• Marketing mix is essential factor to specifies the product (Kerin & Hartley,
2015)
• 4P’s of marketing (Product, Price, Place and Promotion)

Company Profile
• Korwin Pharmaceuticals is a U.S. pharmaceutical products firm
• Growing at a faster rate in domestic as well as in international market
• Korwin Pharmaceuticals developed several new products to service
customers
• Life-saving anti-allergen medications
• Concern for affordability for the middle class in the U.S. and other
consumers and client companies abroad

Code of Conduct in Promotion & Pricing
• Domestic:
• ABPI Code of Practice for the Pharmaceutical Industry (Zetterqvist, Merlo & Mulinari, 2015)
• Journal, direct mail and digital advertising
• Promotional meetings (Hillier‐Brown et al., 2017)
• International:
• Code of Ethics for Pharmaceutical Marketing (Alon, Jaffe, Prange & Vianelli, 2016)
• Innovative Pharmaceutical Industry Association
• Pharmaceutical Manufacturers’ Association (Beigbeder, 2017)

Different Types of Advertising
• Corporate Advertising Techniques (Passarini, Cavicchi,
Santini & Mazzantini, 2017)
• Advocacy Advertising
• Product Advertising (Percy, 2016)

Public Relation Strategy
• Advertorials
• Social Media (Theaker, 2016)
• Business Events
• Employee Relations (Crane, Matten & Spence, 2019)
• Speaking Engagements

Promotional Tool for Consumer Sales
Promotion
• Use Simple And Focused Logos
• Humanize The Brand (Mukherji, Janakiraman, Dutta & Rajiv, 2017)
• Build A Deep Relationship With Consumers
• Create Impactful Marketing Material (Biswas & Ferdousy, 2016)
• Promotional Materials With Physicians

Promotional Tool for Personal Selling
• Recognition of Customers
• Co-creation Marketing (Panigrahi, Aware & Patil, 2018)
• Increased Sales Performance
• Great Attention to the Training (Ebrahimi & Halvaei, 2017)

Promotional Tool for Social Media
• Regulating Content
• Overall Integration (Ding, Eliashberg & Stremersch, 2016)
• Influencer Marketing
• Crafting Customer Experience (Southwell & Rupert, 2016)
• Investing in Employees

AIDA Model
• Attention
• Interest (Phalan et al., 2018)
• Desire
• Action (Alvarenga & Tanev, 2017)

Pricing Strategy
• Geographical Pricing (Yao, 2016)
• Price Discounts and Allowances
• Product-Mix Pricing (Hinterhuber & Liozu, 2017)

Pricing Objective
• Profit-Oriented Pricing
• Competitor-Based Pricing (Lidstone & MacLennan, 2017)
• Market Penetration Pricing
• Skimming Pricing Strategy (Schoonveld, 2016)

Conclusion
• Able to attract the customers from the market
• Pricing strategy is quite effective in nature
• Effective promotional tool used
• Efficient public relation strategy
• Follows the code of conduct

References
• Kotler, P., Bowen, J. T., Makens, J., & Baloglu, S. (2017). Marketing for hospitality and tourism.
• Kerin, R., & Hartley, S. (2015). Marketing: the core. McGraw-Hill.
• Zetterqvist, A. V., Merlo, J., & Mulinari, S. (2015). Complaints, complainants, and rulings regarding drug promotion in
the United Kingdom and Sweden 2004–2012: A quantitative and qualitative study of pharmaceutical Industry self-
regulation. PLoS medicine, 12(2), e1001785.
• Hillier‐Brown, F. C., Summerbell, C. D., Moore, H. J., Routen, A., Lake, A. A., Adams, J., ... & Brown, T. J. (2017). The
impact of interventions to promote healthier ready‐to‐eat meals (to eat in, to take away or to be delivered) sold by
specific food outlets open to the general public: a systematic review. Obesity reviews, 18(2), 227-246.
• Alon, I., Jaffe, E., Prange, C., & Vianelli, D. (2016). Global marketing: contemporary theory, practice, and cases.
Routledge.
• Beigbeder, Y. (2017). International Public Health: Patients' Rights Vs. the Protection of Patents. Routledge.

References
• Passarini, P., Cavicchi, A., Santini, C., & Mazzantini, G. (2017). Deceptive advertising and unfair commercial practices in
the agrifood sector: The role of the Italian competition authority. British Food Journal, 119(8), 1781-1800.
• Percy, L. (2016). Strategic advertising management. Oxford University Press.
• Theaker, A. (2016). The public relations handbook. Routledge.
• Crane, A., Matten, D., & Spence, L. (Eds.). (2019). Corporate social responsibility: Readings and cases in a global
context. Routledge.
• Mukherji, P., Janakiraman, R., Dutta, S., & Rajiv, S. (2017). How Direct-to-Consumer Advertising for Prescription Drugs
Affects Consumers' Welfare: A Natural Experiment Tests The Impact of FDA Legislation. Journal of Advertising
Research, 57(1), 94-108.
• Biswas, K., & Ferdousy, U. K. (2016). Influence of Pharmaceutical Marketing on Prescription Behavior of Physicians: A
Cross-sectional Study in Bangladesh. J Account Mark, 5(160), 2.

References
• Panigrahi, A., Aware, K., & Patil, A. (2018). Application of integrated marketing communication in pharmaceutical industry.
• Ebrahimi, M., & Halvaei, A. A. (2017). Identification of the Promotion Strategy Components of the Pharmaceutical Products in
Iran. Journal of Pharmacoeconomics and Pharmaceutical Management, 3(3/4), 25-34.
• Ding, M., Eliashberg, J., & Stremersch, S. (2016). Innovation and marketing in the pharmaceutical industry. SPRINGER-VERLAG
NEW YORK.
• Southwell, B. G., & Rupert, D. J. (2016). Future challenges and opportunities in online prescription drug promotion research:
comment on" Trouble spots in online direct-to-consumer prescription drug promotion: a content analysis of FDA warning
letters". International journal of health policy and management, 5(3), 211.
• Phalan, B., Hayes, G., Brooks, S., Marsh, D., Howard, P., Costelloe, B., ... & Whitaker, S. (2018). Avoiding impacts on
biodiversity through strengthening the first stage of the mitigation hierarchy. Oryx, 52(2), 316-324.
• Alvarenga, A., & Tanev, G. (2017). A Cybersecurity Risk Assessment Framework that Integrates Value-Sensitive
Design. Technology Innovation Management Review, 7(4).

References
• Yao, Y. (2016). Three-way decisions and cognitive computing. Cognitive
Computation, 8(4), 543-554.
• Hinterhuber, A., & Liozu, S. M. (2017). Is innovation in pricing your next source of
competitive advantage? 1. In Innovation in Pricing (pp. 11-27). Routledge.
• Lidstone, J., & MacLennan, J. (2017). Marketing planning for the pharmaceutical
industry. Routledge.
• Schoonveld, E. (2016). The price of global health: drug pricing strategies to balance
patient access and the funding of innovation. Routledge.

Thank You