Mkt421 Marketing Plan Paper

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Grade: A Marketing Plan: Phase II MKT421-Marketing May 2013 Marketing Plan: Phase II The second phase of Pfizer’s marketing plan consists of an overview of segmentation in the pharmaceuticals. Identifying segmentation criteria affecting the target market selection plays a considerable role in strategy planning. The next section includes a description of organizational buyers and consumers of this medication, and factors influencing marketing decisions and strategies. The final section analyzes two current competitors in the pharmaceutical industry and the competitive landscape for our medication. Segmentation Deciding on a target market for Glustasis requires specific segmentation criteria enabling the targeting market to establish; in this case the target markets consist of end-users and organizational buyers. Segmentation is the first step to consider when thinking about the target market strategy and defining it. Determination of marketing segmentation requires two steps: naming a broad-product market of interest and establishing the ideal market segments. Naming the broad-product market is the first step to disaggregating (Perrault, McCarthy, & Cannon, 2011, p. 93). With pharmaceuticals much of the need to…show more content…
Interestingly enough, the company has also worked in partnership with Pfizer and other companies to develop drugs. Partnering with Pfizer they developed Eliquis, used to minimize the risk of stroke for patients suffering from non-valvular atrial fibrillation (Dey, 2013, para. 2). Collaboration with AstraZeneca has brought forth a portfolio of type II diabetes products, including Forxiga, Onglyza, Komboglyze, and Komboglyze XR (AstraZeneca, 2012, para. 12). The company also acquired Amylin Pharmaceuticals in 2012 and with boasts three new classes of diabetes medications including, Byetta, Bydureon, and Symlin (AstraZeneca, 2012, para.

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