Pfizer Pest Analysis

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INDEX INTRODUCTION 2 POLITICAL AND LEGAL 3 ECONOMICAL 5 SOCIAL-CULTURAL 7 TECHNOLOGICAL 9 CONCLUSION 10 REFERENCE LIST 11 INTRODUCTION This paper examines how the external environment affects to Pfizer’s marketing strategy. The paper reports, through a PEST analysis, on the marketing environment of Pfizer reviewing political-legal, economic, social-cultural and technological factors affecting the company market. As Pfizer is a huge multinational it is important to keep ahead of trends in technology and innovation in order to maintain its position in the pharmaceutical industry. Pfizer’s History It was founded in 1849 in Brooklyn neighbourhood –New York- by two cousins Charles Pfizer and Charles Erthardt. The company started producing an antiparasitic called Santonim. (Pfizer 2004, Annual Review). By 1910 Pfizer became established as an expert in fermentation technology. These skills were applied to the mass production of penicillin during World War II. The antibiotic was urgently needed to treat injured allied soldiers, and it soon became known as “the miracle drug”. As a consequence Pfizer was the world’s largest producer of penicillin by 1945 and started its global expansion within the next six years. Through all his history the company has underwent a sustained growth by discovering and marketing multiple successful drugs internationally well-known. Therefore the expansion and scope were progressively increased. Pfizer’s heavy investment in research and development has produced some of the major medicines of today and given birth to ideas that will become the major medicines of tomorrow. All the progress performed during several years has made Pfizer as one of the leading companies in the Pharmaceutical Market. As it is stated in its
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