Professional Selling Report: Pfizer Inc and Shoppers Drug Mart

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This report provides a comprehensive analysis of Pfizer Inc's operational framework, focusing on its professional selling strategies within the biopharmaceutical industry. It begins with an executive summary highlighting Pfizer's mission, vision, and commitment to Canadian healthcare. The report then delves into a situation analysis, including a SWOT analysis of Pfizer and an examination of its client, Shoppers Drug Mart. It explores Pfizer's product and service solutions, including product specifications, benefits, and their alignment with client business goals. The report also covers support services, marketing strategies (promotional activities, co-branding, public relations), and implementation timelines. The analysis emphasizes the importance of ethical considerations, R&D, and market positioning. The report concludes with recommendations for enhancing Pfizer's operational framework and creating a better marketing environment, emphasizing the company's commitment to quality products and patient health.
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Running Head: PROFESSIONAL SELLING
PROFESSIONAL SELLING
Name of the Student:
Name of University:
Author Note:
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Executive Summary
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.
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Table of Contents
1. Introduction..................................................................................................................................3
2. Discussion....................................................................................................................................4
2.1Situation analysis....................................................................................................................4
2.2. Product and service solution.................................................................................................7
2.2.1 Product and service.........................................................................................................7
2.2.2 Benefits of the products..................................................................................................8
2.2.3 Specifications to substantiate offering............................................................................9
2.2.4 Solution for the client’s business goals..........................................................................9
2.3. Support service...................................................................................................................10
2.4. Pricing and financing..........................................................................................................12
2.5Marketing strategies..............................................................................................................13
2.5.1. Promotional activities..................................................................................................13
2.5.2. Potential co-branding opportunities.............................................................................14
2.5.3. Public relations............................................................................................................14
2.5.4. Co-op advertising.........................................................................................................14
2.5.5. Guerrilla marketing......................................................................................................15
2.6. Implementation and timetable............................................................................................16
3. Conclusion.................................................................................................................................17
4. Reference...................................................................................................................................18
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1. 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.
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2. Discussion
2.1Situation analysis
2.1.1 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).
2.1.2 SWOT analysis
Strengths
Excellent R&D (research and
development) processes leading to
innovation
Merger and acquisition with large
pharmaceutical brands improving the
Weaknesses
Tough competition in the market
Negative brand image due to drug
illegal and healthcare frauds
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reputation of the same
Expansion over 50 nations around the
globe
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
2.1.3 Positioning grid
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High quality
High price
Low quality
Low Price
6PROFESSIONAL SELLING
2.1.4 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
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Advil Caplet
Advil Gel Caplets
Advil tablets
0 0.02 0.04 0.06 0.08 0.1 0.12 0.14 0.16 0.18 0.2
Column1
toothache
headache
menstrual pains
physical and athletic exertions
2.1.5 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
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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.
2.2. Product and service solution
2.2.1 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.
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2.2.2 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).
2.2.3 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
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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.
2.2.4 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).
2.3. Support service
2.3.1Describe 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
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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.
2.3.2. 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).
2.3.3. 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).
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2.3.4. 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.
2.3.5. 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).
2.4. 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
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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
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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.
2.5Marketing strategies
2.5.1. 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.
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2.5.2. 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.
2.5.3. 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.
2.5.4. 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.
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2.5.5. 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.
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2.6. 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
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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.
3. 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.
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4. Reference
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 EMPHASISHF 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.
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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 http://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.
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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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