Pfizer's Marketing Mix: A Detailed Analysis of Key Elements

This report provides an analysis of Pfizer's marketing mix, focusing on key elements such as place and promotion. It defines the marketing mix as a crucial process for promoting a brand or product, highlighting its role in achieving business objectives. The report examines Pfizer's distribution strategies, including hospitals, medical centers, and online platforms. It also explores Pfizer's target market segmentation based on factors like income and age, along with their promotional activities through medical representatives, samples, and media advertising. The analysis delves into the 'When,' 'How,' and 'Why' aspects of Pfizer's place and promotion strategies, emphasizing the importance of these elements in market recognition and competitive positioning. The report references academic sources to support its findings, offering insights into Pfizer's marketing practices within the pharmaceutical industry.

Marketing Management

Table of Contents
MAIN BODY.......................................................................................................................................3
Marketing Mix ................................................................................................................................3
REFERENCES.....................................................................................................................................5
Books & Journal:.............................................................................................................................5

MAIN BODY
Marketing Mix
It is defined as process or set of approach which is used by enterprise to promote their
brand or a product at market place. It is critical process on basis of which goals and objectives are
achieved. Elements of marketing mix are used as tactics to achieve desired position in market which
is the beneficial for company growth and development. This is because by applying these elements
within a business sector help in increasing productivity of company at large scale. In context of
Pfizer which is largest Pharmaceutical company in U.S also uses this concept of marketing mix. It
is further explained below-
Place –
A place is defined as pace from where distribution is done. A place is essential which is
needed to be focused so that it helps customers to actually purchase product. This element of
marketing mix is important which is necessary to be focused so that it is easy for chosen entity to
easily access to products of a brand (Adwani, 2018). There are various ways through which
distribution of products such as Enbrel is done via following ways like hospitals, medical centres,
medical shops etc. On basis of these product of company is being distributed at places.
Target market & Segmentation-
The target market of selected company is large business owners and operators. There are
various factors on the basis of which segmentation of market is done such as income and age.
Self-analysis
When- This product is distributed during 24/7 hours of all working day by enterprises.
Moreover, it is seen that chosen organisation make assures that medicine is available at every places
and nearby places.
How- The product of selected entity is being distributed through a large distribution channel
networks. Moreover, it is too examined that these products are sell through online social media
platforms and company's websites (Alfred, 2017).
Why- Main reason for focusing on this place component of marketing mix is that by
properly focusing on this help company to engage with customers more specifically through
distributing on both sides online as well as offline platform.
Promotion-

It is another element of marketing mix in which it mainly focuses on advertising &
promotion of brand or product. In relevance of PFIZER, they also promote as well as advertise their
product at wider context. The selected organisation promotes their products through medical
representatives & selling of free samples in medical colleges, community etc. Also, they post
advertisement over newspapers, magazine etc.
Self-analysis
When- Promotion of company's product is done at time when there new medicine is about
to launched in market. Also, it is done at peak period when there is peak period & work load is high.
How- Products of PFIZER is being promoted through newspapers, articles, etc. Moreover
there is another way of communicating which is important through use of media who promote their
medicines.
Why- PFIZER does promote of their products because it assist them in getting recognised in
the market (Padela, 2019). Main reason for doing promotion is to achieve competitive positioning
by providing value added services to customers. For example in context of Pfizer, they also
entrenched consumer and vaccine franchises create an added layer of competitive benefit that is
from brand power in customer health care.

REFERENCES
Books & Journal:
Adwani, 2018. A comparative study of R&D investments by Indian and Multi National
pharmaceutical Companies (with Special Reference to Dr. Reddy'S Laboratory Ltd. & Pfizer
Inc.). ACADEMICIA: An International Multidisciplinary Research Journal,8(2), pp.71-83.
Alfred, 2017. Marketing Communications Process on the Pharmaceutical Market in Ghana.
International Journal of Academic Research in Business and Social Sciences,7(2), pp.256-
273.
Padela, 2019. Applying marketing conventions on pharmaceutical generics: an analysis of Starpram
brand from Maple Pharmaceuticals.Emerald Emerging Markets Case Studies.
Sabrine, 2020. Analysis of the degree of consumer's loyalty in relation to medicines of the
pharmaceutical company" Pfizer".