Marketing Mix Strategy of Beximco Pharma

Introduction

I am permitted to make report on the “4p” strategy of The Beximco Pharmaceuticals Ltd, the largest company in pharmaceutical industry, that has covered the maximum market share. Marketing Mix is a crucial  and strategic part of any company. A company’s ultimate profit absolutely depends on how these elements of marketing mix are analyzed and applied.

Marketing decisions generally fall into four controllable categories: product, price, place and promotion. The ingredients in marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. These ingredients are groped into  four categories that today are known as the 4 P’s of marketing,

 

Problem Definition:

 The marketing mix framework was particularly useful in the early days of the marketing concept when physical products represented a larger portion of the economy. Today marketing is more integrated into organizations and with a wider variety of products and markets, therefore it is needed to extend its usefulness by proposing a fifth P, such as packaging, people, process, etc. Today however, the marketing mix framework most commonly remains based on the 4 P’s. But sometimes there arise crucial problems due to misjudgment and mis analysis of 4p’s. Further there may arise problems because of the limitations of its structure.

 Our study will analyze and measure  the ‘4p’ strategy from viewpoints.

 

Objectives Of The Study

 

Our objective is to provide better solution related to marketing mix strategies by identifying, analyzing and justifying the following problems:

  • To identify the marketing mix framework of Beximco Pharmaceuticals Ltd.
  • To analyze how this framework runs.
  • To analyze their product strategy and measure its operation.
  • To analyze their pricing strategy and measure its application.
  • To analyze their distribution activities and product availability.
  • To measure their promotional/ marketing strategy .
  • To analyze how this 4p’s are operated for customer satisfaction.
  • To identify Beximco Pharmaceuticals Ltd ‘4p’ limitation.

Methodology

 Primary data are collected from the key executive of the marketing department of BPL on the basis of a structured questionnaire. This study is exploratory in nature. Two types of samples have been selected to conduct the survey. Two sets of structured questionnaires (one for the BPL’s key executives and another for customers including general people and drug retailers) containing open-end type and multiple-choice type have been made. Information is received from 100 general people as well as drug stores located deferent areas of Dhaka city. Personal interviews are conducted to gain more in-depth knowledge. To attain the objectives the study has been confined to the evaluation of procurement of raw materials, channel of distribution, pricing, promotion activities and consumers’ opinion about the BPL.

 

Company Overview: Beximco Pharmaceuticals Ltd.

 

Beximco Pharmaceuticals Ltd. is one of the four companies strategically included in the Beximco Chemical Division. BPL attained turnover of Tk. 2.453 billion during 2000.

It all began in 1980 when BPL’s first product made under license of Bayer AG, Germany rolled out of a small manufacturing plant in Tongi, Dhaka. Products made under license of Upjohn Incorporated, USA followed. After its initial years of struggle it broke ground with the launching of its own products in 1983. Today, BPL holds almost 15% share in the domestic market.

The commissioning of BPL’s Basic Chemicals Unit in 1990, established a very significant milestone for it. It not only met 90% of the country’s demand for two vital raw materials, ampicillin and amoxycillin but also started selling these to overseas markets, including South Korea and Malaysia.

 

Departmentalization

BPL operates its business through extensive departmentalization as needed. This is for specified effectiveness of the tasks. The business activities of BPL, BIL and PCL are directed, controlled and monitored from the head office of Beximco Pharmaceuticals Ltd. located at 7A, Dhanmondi, Dhaka. Being a leading Pharmaceutical company in the country it employs good number of people in different departments to keep its business thriving. The following major departments coordinate the activities of BPL, BIL and PCL:

¨      Central product management (CPM) department

¨      Planning department

¨      Purchase Department

¨      Sales department

 

Company Overview

¨      Sales education and training department

¨      Medical services department

¨      Business Research & Development department

¨      International marketing & fine chemicals department

¨      MIS department

¨      Finance and Accounts department

 

CPM

CPM stands for Central Product Management that takes care the total marketing of a product. It includes

i)             selection of new product

ii)            design of new product

iii)           design of packaging

iv)           Introduction of the product to the market and others

 

Planning Department

The planning department ensures smoothness of total operation of BPL. It is concerned with the following:

i)             The production planning and

ii)            Raw material procurement.

iii)           Inventory Planning

Based on sales forecast from the CPM planning department breaks up the yearly sales forecast to monthly basis and develop the planning of production, purchase and stock maintenance. It also initiates the negotiation of purchase. It refers the suppliers’ quotations to the purchase departments.

Planning department try to ensure buffer stock of three months of all the raw materials to meet any untoward events or circumstances in market.

Purchase Department

The purchase department is concerned with all the purchases of BPL. Apart from purchasing it keeps the record for tracking the costs of the company. This department works in coordination with planning department for negotiation and price fixing.

 Sales Department

To follow the recent management of the business world the sales department has been completely separated from marketing department. It sets the forecast in coordination with marketing department and upon fixation of the sales it is the responsibility of the sales department to realize the yearly sales volume forecasted. The departmental works in following pattern:

Director

Sales manager

 

 

 Asst. sales manager (2)

 

 

Regional sales controller (10)

Field supervisor (5-8)

 

 

Medical Representative ( 4-5 under each)

 

 

 

 

Figure 01: Managerial Hierarchy of Sales Department

Medical representatives are farthest unit of the organization. They are to generate demand for products. They are trained before sent for field.

Training Department

Training department is to provide the training to the medical representatives of the company. This training is necessary to improve the quality of job-related function. The curriculum of training varies from group to group.  The department basically offers 4 types of training programs:

  • Induction Training Programs (for MRs )
  • Supervisory Management Programs (for FSs)
  • Advanced Supervisory Management
  • Refresher Training Programs (for everyone in sales in as and when basis).

The MRs are virtually the direct product of this training department. The selling skill of the MRs are dig out through the training session on that ultimately BPL depends for attaining its target sale.

MIS Department

The MIS department is the department that takes care of total automation of BPL. It supports the hardware and network of the company and the factory. It maintains the automation regularly and keeps the pace with the global IT. The MIS department also maintains the radio-link between the factory and the head-office.

Though separately dealt before, recently software department has been incorporated with MIS department. This software section is to work for developing software solutions as per organizational requirements. It also supports the other companies’ requirements of the chemical division. The facilities of MIS department are available round the clock for 24 hours.

MSD

MSD stands for Medical Services department. It is a unique department in this industry as BPL established this first ever in order to create easy relationship through using the professional linkage with the doctors, the ultimate customer of the pharmaceutical companies.

This is a supporting department that provides services (e.g., slide preparation, providing different journals, books etc.) to   the health professional on different issues and receives feedback from them. It arranges seminars on different issues such as diseases and their cures in different parts of the country. It publishes a special ‘Medical Newsletter’ quarterly and sends the current issues to the enlisted doctors at free of cost. The newsletter consists of important, recent medical articles. It also provides news gathered from Internet and allows free browsing facility for the doctors. Thus it helps the medical community and at the same time increases the company image outside.

Business Research & Development Department

The department began its operation for the purpose of working on market development – both domestic and international. It assists product development and marketing of new products. The product development process is as follows:

Market Research

Molecular

Structure

Development Sample

Analytical Method Dev.

Stability

Profile

 

Quality Assurance  (in each stage in factory) and Quality Control improvement is another concern of this department. It suggests the SOP (Standard Operating Guideline), which is the biggest part of GMP (Good Manufacturing Practices). It is mention that by practice BPL follows the highest standard of quality suppose as suggested by WHO. Purchase and material management coordination is also included within responsibilities of this department.

International Marketing

It is note that BPL has started marketing its product internationally. This department is concerned with the international promotion and marketing of BPL finished products and basic chemicals. It analyzes country analysis in terms of health status, economy, market and its growth, legal bounds of entering the market with its product etc to find the feasibility to market its products. So far it has 18 export outlets.

Multimedia Department

BPL is the only pharmaceutical company that has a multimedia department. This department is helping in the promotional activities of BPL. It designs medical videos for the doctors. The color, size, shape, lettering etc. of the text are carefully selected to attract the target audience easily.It has designed some Kiosks that have been placed in some medical colleges for the students to learn and be trained.

The department also provides audio-visual aids to other departments of the company and also assists to decorate the publications.

Finance and Accounts Department

There are three sections in this department.

q  Treasury section

q  Accounts section

q  Cost and budget section

Treasury section deals with banks and bills. It also looks after the cash planning and management.

Accounts section is there to maintain all records and transactions. it is automated with aid of the software named MAPICS (Manufacturing Accounting Planning Information Control System).

Cost and budget section identifies the cost centers and prepares the budget. Cost section calculates the product cost and cost of goods sold. The annual budget preparation starts at October. Budget review is done quarterly (internally) and half-yearly (by the top management). It compares the budgeted and actual sales and expenses and prepares reports on them.

SWOT analysis

SWOT analysis of beximco pharmaceuticals ltd

Upon study of the organization BPL some of the finding are as follows:

Strength

BPL is one of the leading companies in the pharmaceutical industry of the country and could attain almost 15% of the local market. The strength of attaining such position in the industry are:

Brand Leadership

As survey showed that 27 of BPL’s products are found to be brand leaders out of 47 products surveyed while 10 stand at second place.

Market Recognition

Beximco has secured market recognition in the market through innovative marketing strategies and aggressive product promotion. The company’s strong support to the medical community has gained its brand loyalty from the doctors.

Market growth

The market is expected to grow by 15 to 20% per annum for the next 5 years. The compounded annual growth for the previous 6 years was 15%. The next stage of growth is expected to come from backward integration to manufacture high volume raw materials, introduction of Hi-Tech manufacturing process that are difficult to imitate products, and exports.

Aggressive diversification

BPL is keen to diversify its capacity of produce and market. Strong export demand and international product registration have led BPL to embark on a massive capacity expansion as evident in expansion of plant and establishment of new plant in compliance with FDA (Federal Drug Association) quality mark .

Recently BPL signed a new contract for loan of about 1100 million BDT for its FDA (Federal drug Administration) compliant plant that costs over BDT 3,000 million BDT.

 

SWOT Analysis

Basic Chemicals and Multipurpose Chemical Plant

 

Currently bulk antibiotics amoxycillin, ampicillin, and cloxacillin are being produced with an installed capacity of 35 tons per month. It is going to introduced Cephalexin and Cephradine very soon; like-wise in its multi purpose unit, production of Amlodipine, Fluconazole, Clotrimazole, Cetirizine Hcl, Tramadol, and Riboflavin 5-phosphate sodium.

Opportunities

There are some of the sectors where BPL has not entered but that possess ample opportunities. One of such sector is SVP or small volume Parenteral that is known as injections in the market. Due to having the quality attainment capability as evident in producing IV products, expertise and resource BPL should immediately think of this product and decide upon having the feasibility study.

International market is also another very lucrative sector for BPL. In the world market the low cost of product is an important upper hand for BPL to market its product. The new FDA compliant plant will assist BPL to confirm the world market about the quality of its products.

Weaknesses

The company does not produce any kind of injectibles. The company can increase its market share by producing injectibles.

BPL has a narrower product line and number of products than its principal competitors in the market. Unless the product line and number of product are expanded the market share of BPL will be endangered in near future.

Threats

Competition from the local pharmaceutical companies and the very specifically in context of price is a major threat for BPL. The poor economic status of

Bangladesh requires a low price of drugs to ensure public health. For the reasons like high cost of maintaining quality of products and high distribution cost etc the products of BPL cost higher than that of other companies. As a result BPL is in fear of loosing market in the rural areas of Bangladesh.

The year 2007 will be crucial for BPL as well as for all other local pharmaceutical companies. Currently Bangladesh market is protective for facilitating the local companies in pharmaceutical sectors in such way that any product able to meet the local demand cannot be imported. Also till to date companies can buy basic ingredients of pharmaceutical products at very low cost materials from India and China as these country do not follow the international patent law. However after implementation 2007GAT (General Agreement of Trade) being a signatory Bangladesh will be in pressure to not buy the raw materials from the country those will not follow global patent law. GAT will pursue product patent registration system and royalty on patent will be enforced. As a result the raw material cost would go higher than now. This will eventually endanger BPL further as it is already in crisis due to having high product price.

 

Industry Analysis: Range of Products

Range of products here represents different types of items of products. The pharmaceutical companies divide their medicines into three categories- infusions, formulations and pharmaceuticals. The total number of products Beximco has is 180, whereas Square has about 300 types of products within their medicine range. Therefore, Square is occupying the leading position in producing the widest range of products. Incepta, is currently marketing about 137 products. Aventis holds the fourth position. ACI formulates and markets a comprehensive range of more than 120 products covering all major therapeutic areas, which come in tablet, capsule, powder, liquid, cream, ointment, gel and injection forms. Acme and Opsonin have the lowest range of products compared to the above-mentioned companies.

The survey results, as depicted in the above figure, more or less reflect the reality. However, it fails to show the huge gap in the product range between Beximco and Square. According to the doctors, the difference between the product range of the two companies is narrower. The other bar in the figure above mostly represent Incepta which has the third largest product range. The smallest bars in the figure perfectly depicts the lowest range of products of Opsonin and ACME.

 

Industry Analysis

 

Product Quality

 

The quality of any product includes everything associated with it, ranging from the raw materials to the effectiveness when consumed. Doctors usually emphasizes on less side effects, less frequency of administration and quick and effective therapeutic response when referring to product quality. However, it has been found that doctors give much more emphasis on quick therapeutic response rather than effective therapeutic response. This is because sometimes effective therapeutic dosage may cause delay in recovery and patients switch to other doctors. Therefore, doctors have to prescribe drugs which would lead to quick recovery. According to the opinion of the physicians, Square has the leading position (Figure 04).

Figure 03: Product Quality

Beximco holds the second position. Aventis and ACI also have good positions in terms of quality perception. This due to the fact that some their products are imported from abroad. Moreover the imported medicines have very few alternatives in the local market. Acme and Opinion medicines are not rated high in terms of quality.

 

It may be said that 22% respondents believe that Beximco’s products provide quick recovery.

Product Presentation

 

The product presentation of any product includes everything associated with it, ranging from the color to the design. It has been found that the companies can even charge a high price if their product presentation is good even if it is of the same quality as the others.

 

According to the physician’s opinion (Figure 05), Square has the leading position in terms of product presentation. Aventis and ACI also have good positions in terms of product presentation. This is  due to the fact that some their products are imported from abroad. Moreover the imported medicines have very few alternatives in the local market. Beximco’s competitive position is not quite good in terms of product presentation. Acme  and Opinion medicines are not rated high.

Introduction of New Products

New generation drugs always attracts doctors. Sometimes even if a drug with the same therapeutic value is there in the market, a new drug launched takes a huge percentage of the market share of the older one. As for example, NeoceptineR was a market leader once. When Neotack entered the market, the market share of NeoceptineR fell dramatically due to doctors liking new generation drugs.

 

In fact, because of this,  the pharmaceutical companies frequently arrange seminars and symposia covering a wide range of medical topics attended by members of health care community. The faculty of these programs usually consist of both reputed medical experts and experts from marketing team of the company.

 

According to the physician’s opinion (Table 01  ), Square has the leading position in the frequency of introducing new drugs.

 

Company% of Response
Beximco22
Square23
ACI16
Opsonin5
ACME6
Aventis17
Others11

Table  01: Introduction of new products

 

Beximco holds the second position. Aventis and ACI also have good positions. Incepta is increasingly moving towards introducing new products. According to the doctor’s opinion,  ACME and Opinion are least proactive in introducing new drugs.

Pricing

In the pharmaceuticals market of Bangladesh, there is not much price differentiation, in general, among the different companies due to the highly competitive nature of the industry. Whatever price differentiation is there, it is between the multinationals and the national companies. It is due to the fact that the multinationals charge a premium price for their product.

 

Moreover, price is not a very important factor due to the nature of the product. Quality is more important. However, the purchasing capacity of the patients is also an important consideration. Therefore, it is important for the companies to charge a reasonable price for their product.

 

According the survey, most of the doctors perceive Beximco as offering reasonable pricing for their product (Figure 06). It may be due to the fact that Beximco has recently come up with a very competitive price for some of its key products. Square hold the second position. Whereas, the others are not perceived to be providing reasonable prices given the quality of their products.

Distribution

In the pharmaceuticals market, distribution is very important. Having made all decisions of marketing properly, a company will not be successful if it cannot distribute its products well.

 

According to the physicians, Square has the strongest distribution among all the companies (Figure 07). With its eleven distribution centers, it maintains a proper distribution of drugs in the chemist shops all through the country. Beximco holds the second position. Aventis maintains a moderate network. While companies like Opsonin, ACME and ACI are not perceived to have a good distribution. It may be due to the fact that these companies targets different pockets of the whole market.

Medical Representatives

Company representatives have a major role to play in the sale of drugs. This is because a good representative can create a favorable impression of the company on the doctors. When the doctors prescribe a drug, they, in turn, are influenced by this impression. However, to create an impression, the medical representatives must be both knowledgeable and able to provide prompt service.

 

According to the doctor’s opinion (Figure 08), Beximco’s Medical Representatives offers the most prompt service. Square’s Medical Representatives also maintains a good reputation in serving doctors. Incepta’s medical representatives seems to have created a good impression of themselves as being efficient in providing service.

 

According to the doctor’s opinion, the Medical Representatives of Aventis are considered to be the most knowledgeable. The Medical representatives of

Industry Analysis

Square and Beximco are also good in detailing to doctors. ACI is in the fourth position under the same categorization.

Promotion

Due to high competition in the industry among the different players in the market, aggressive marketing have been adopted by the different companies. In this regard, promotion has become a useful tool to fight competition. Moreover, promotional materials of companies have an impact on doctor’s prescribing medicine. Therefore, different companies have set out different promotional tools to increase market share.

Medical Newsletters

The Medical Newsletter is a compilation of latest information gathered from articles published in different national and international journals covering all disciplines of medical science. These selected publications are on topics that can assist the doctors in their professional practices. These newsletters create a good impression of the company and has an impact on the prescription of the drugs.

 

According to the physicians, Square has the leading position in the frequency of publishing Medical Newsletters. Beximco holds the second position. Aventis and Incepta also have good positions in terms of publishing Medical Newsletters.

Printed Promotional Materials

Different types of printed promotional materials are used by the pharmaceuticals companies. They include booklets on disease and brands, stickers for display ,etc. According to the doctors (Figure 11), the printed promotional materials provided by Aventis Pharma are most attractive both in terms of design and information, in comparison to the other pharmaceutical companies. Being a foreign-based company, it has to maintain a global standard and therefore is more acceptable to doctors.

 

Square and Beximco also maintains a good standard in their promotional materials. Incepta is increasingly moving towards improving their printed materials and they also have a good distribution network. Acme comes fifth. Doctors hardly receive any printed promotional materials from ACI but when they do it is of average standard. Incase of Opsonin, though they do receive materials from them, it is not of high standard.

Gifts

The different types of gifts, in use, by the pharmaceutical companies include writing pads, pens, calendars, bags, etc. According to the doctors, the most attractive gifts are provided by Incepta Pharmaceuticals.

Square and Aventis also maintains a good standard in their gift materials. Beximco is in the fourth position under the same categorization. Sequentially, Acme comes fifth. Doctors receive gifts from ACI and Opinion, once in a while and they give the least attractive gifts.

Physician Samples

All the pharmaceutical companies provide samples of new medicine or medicines that they want to increase sales to doctors from time to time.

 

According to the doctor’s opinion, the company that provides the most adequate physician sample is Square, in comparison to the other pharmaceutical companies. Beximco is in the second position with 22 % and ACME is in the third position with 19% under the same categorization.

Image Analysis

Even when competing offers look the same, buyers may perceive a difference based on company or brand image. Image includes a set of associations ranging from the brand name, product performance, reliability, features, benefits, doctor’s preferences and the corporate image. Within the pharmaceutical industry, it can be observed that all the companies offer more or less the same types of medicines. Even at times, the names of the products are quite similar to each other. So if Beximco Pharmaceuticals wants its consumer to perceive the difference between them and others it must strengthen its image. The brand image should convey the product’ distinctive benefits and positioning.

 

Survey reveals that the overall image of Beximco is average. When doctors were asked to rank the companies on the basis of their overall image, the responses varied. To make sense out the raw data collected while interviewing the doctors, the response has been shown graphically down here:

 

Square Pharmaceuticals holds the leading position in terms of overall image (Figure 14 ). This may be due to the fact that Square has created goodwill in the industry. Even in this survey, it’s image is superior in product quality, presentation, availability and provision of information- factors (Figure 15 ) which the doctors thought were most critical in evaluating the performance of pharmaceutical companies. Beximco holds the second position.

Beximco Pharmaceuticals Limited has sustained a good image from the time it started its operation, but to reach the top position in terms of overall image, it has to emphasis more on the quality, availability and presentation aspects of their product.

 

Aventis grew as a company after acquiring Fisons and Hoechst and as a result, their image is quite positive. It has been helped by the fact that it is a multinational which by itself creates a goodwill. The information they supply is not adequate. Acme is performing moderate in terms of image. Opinion’s image has not been a good one as they had targeted the rural areas at the beginning. ACI’s image has declined in the recent years.

 

Strategic Focus

Marketing mix in details

(The 4 P’s of Marketing)

Marketing decisions generally fall into the following four controllable categories:

  • Product
  • Price
  • Place (distribution)
  • Promotion

These four P’s are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four P’s on the customers in the target market in order to create perceived value and generate a positive response.

Product Decisions

The term “product” refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made:

  • Brand name
  • Functionality
  • Styling
  • Quality
  • Safety
  • Packaging
  • Repairs and Support
  • Warranty
  • Accessories and services

Price Decisions

Some examples of pricing decisions to be made include:

  • Pricing strategy (skim, penetration, etc.)
  • Suggested retail price
  • Volume discounts and wholesale pricing
  • Cash and early payment discounts
  • Seasonal pricing
  • Bundling
  • Price flexibility
  • Price discrimination

 

Distribution (Place) Decisions

Distribution is about getting the products to the customer. Some examples of distribution decisions include:

  • Distribution channels
  • Market coverage (inclusive, selective, or exclusive distribution)
  • Specific channel members
  • Inventory management
  • Warehousing
  • Distribution centers
  • Order processing
  • Transportation
  • Reverse logistics

Promotion Decisions

In the context of the marketing mix, promotion represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response. Marketing communication decisions include:

  • Promotional strategy (push, pull, etc.)
  • Advertising
  • Personal selling & sales force
  • Sales promotions
  • Public relations & publicity
  • Marketing communications budget

Product Strategies

Beximco Pharmaceuticals Limited does not simply believe in introducing new molecules, it also believes in creating the difference in the market place by offering impeccable quality. BPL stands on the heritage of bringing innovative medicine to people. BPL’s products are all intended to help people to live healthy lives. BPL’s portfolio features a range of high quality, effective products, some are the first of their kind and many are ranked number one in their therapeutic area.

A team of highly qualified people sets BPL’s product feature and attribute. Arts and science are blended together inside BPL’s products. BPL’s products are designed and engineered in such manner that their overall presentation, size, shape, color, flavor, viscosity, coating, etc are completely different from those of the competitors. Whatever may be the dosage form or packaging-blister, strip, bottle, cartons, labels, etc, BPL’s presentations are widely recognized for their best aesthetic look among all competitive brands.

Beximco offers a comprehensive range of about 80 formulations in various dosage forms such as tablets, inhalers, capsules, creams, suspensions, syrups, suppositories, etc. From anti-ulcerates to vitamins, antibiotics to bronchodilators. Beximco has a widely diversified product portfolio. Every year the company introduces new products. In 2003 BPL launched 12 new products.

In Bangladesh, Beximco enjoys very high brand loyalty. Many BPL products are brand leaders in their respective categories. Neoceptin-R Beximco’s ranitidine formulation has 15.5% market share and has been the brand leader for a number of years. It is Beximco’s highest selling product. Napa, Beximco’s paracetamol reign the analgesic markets with a 27.5% market share and has been the brand leader for the 10 th consecutive year.

BPL’s asthma inhalers have enjoyed excellent sales growth over the years and have received huge response from the patient and doctors. Other therapeutic classes of drugs where BPL brand still lead include ACE inhibitor, systemic anti fungal, respiratory anti inflammatory, prostatic drug, topical anti hemorrhoid, digestive enzyme, etc.

Product Strategies

Blockbuster Products in 2004

Success of a pharmaceutical company depends on how effectively it establishes its brands in the market. The excellent blending of world class manufacturing technology and innovative marketing strategies made BPL successful in achieving brand equity for its products. As a result the number one product by value and the number one by unit in Bangladesh pharmaceutical Industry and also the highest selling drug in the cardiovascular class belongs to BPL.

Napa – number one product by value

Napa is the highest selling product by unit. Napa has become a household brand in the mind of physicians as well as consumers of Bangladesh.

Neoceptin R –  Number one product by value

One of the major revenue earning products of BPL is Neoceptin R. It is also the highest selling product by value and is the undisputed leader in Bangladesh Pharmaceutical Market.

Amdocal – Highest selling drug in the cardiovascular market

Amdocal is one of the most prestigious and revenue earning products of BPL. It is the highest selling product in the cardiovascular market.

 

Product Strategies

 

Product List

 

Brand name                           Dosage Form          Generic name & strength

 

Analgesic/ Antipyretic

Lucidol                                     Capsule                        Tramadol. HCI 50mg

Napa                                        Tablet                           Paracetarnol 500 mg

Syrup                           Paracetamol 120mg/5ml

Drops                           Paracetamol 80 mg/ml

Suppository                  Paracetarnol. 125mg/20mg/500mg

 

Antacid & Antiflatulent

Flatarneal‑DS                            Tablet                           Al Hydroxide 400mg.Mg Hydroxide

Simethicone, 30mg

Suspension                   Al Oxide 200mg. Mg Hydroxide

Simethicone 30mg

 

Lactarneal                                 Tablet                           A] Hydroxide 250mg.Mg Hydroxide

Suspension                   Al Oxide 175mg. Mg Hydroxide

 

Anthehnintic                              Tablet                           Albendazole 400mg

Melphin                                     Tablet                           Pyrantel Pamoate 125 mg

Suspension                   Pyrantel Pamoate 50 mg

 

Anti-Acne

Cosmotrin                                 Crearn                           Tretinion 0.025%

 

Antiamoebic

Filmet                                       Tablet                           Metronidazole 200 mg

Metronidazole 400 mg

Metronidazole 80 Orng

Suspension                   Metronidazole 200 mg/5m]

 

Anti-Anginal

Monate                                     Tablet                           Isosorbide, Mononitrate 20mg

Neocard                                    Tablet                           Dilitiazern 30mg

Difitiazern 60mg

 

Anti-Arrhythmic

Pacet                                        Tablet                           Arniodarone HCL 100 mg

Arniodarone HCL 200 mg

 

Antibacterial

Arixon Ig IM                              Injection                        Ceftriaxone, Ig

Arixon I g IV                              Injection                        Ceftriaxone, Ig

Arixon 250mg IM                       Injection                        Cefcriaxone 250 mg

Arixon 250mg IV                        Injection                        Ceftriaxone 250 mg

Arixon 500mg IM                       Injection                        Cefiriaxone 500 mg

Arixon 500mg IV                        Injection                        Ceftriaxone 500 mg

Arlin                                          Tablet                           Linezolid 400mg

Linezolid 600mg

Suspension                   Linezolid 100mg/5ml

 

 

Brand name                          Dosage Form           Generic name & strength

 

Cephalen                                 Capsule                        Cephalexin 250mg

Cephalexin 500mg

 

Antibacterial

Clobex                                     Capsule                        Cloxacillin 500 mg

Syrup                           Cloxacillin 125mg/ 5ml

Decacycline                             Capsule                        Tretracycline, 250mg

Etrocin                                     Tablet                           Erythromycin 250mg

Erythromycin 500mg

Suspension                  Erythromycin 125mg/5ml

Evo                                          Tablet                           Levofloxacin 250mg

Levofloxacin 500mg

Flubex                                     Capsule                        Flucloxacin 250mg

Flucloxacin 500mg

Suspension                  Flucloxacin 125mg/5nd

Intracef                                    Capsule                        Cephradine 250mg

Cephradine, 500mg

Suspension                  Cephradine 125mg/5m]

Drops                           Cephradine 125mg/1.25.1

Injection                       Cephradine 250mg

Injection                       Cephradine 500mg

Isofloxin                                   Tablet                           Pefloxacin 400mg

Megadox                                  Capsule                        Doxycycline 100mg

Megatrim DS                            Tablet                           Trimethoprim 160mg

Suspension                  Trimethoprim. 40mg

Nebactil                                    Suspension

Neofloxin                                 Tablet                           Ciprofloxacin 250 mg

Ciprofloxacin 500 mg

Ciprofloxacin 750 mg

Neofloxin XR                           Sustained                     Ciprofloxacin 500 mg

Release Tablet

Odycin                                     Tablet                           Moxifloxacin 400ing

Rolacin                                     Tablet                           Clarithromycin 250mg

 

Suspension                  Clarithromycin 500mg

Sparlin                                     Tablet                           Sparfloxacin 200mg

Triocim.                                    Tablet                           Cefixime 200mg

Suspension                  Cefixime 100mg/5ml

Tycil                                         Capsule                        Amoxycillin 250mg

Suspension                  Amoxycillin 125mg/5ml

Drops                           Amoxycillin 125mg/1.25m]

Tycil DS                                   Suspension                  Amoxycillin 250mg/5m]

Xegal                                        Tablet                           Gatifloxacin 400 mg

 

 

Anti -BPH

Prosfm                                     Tablet                          Finasteride 5mg

Uroflo                                       Tablet                          Tamsulosin 0.4mg

 

Anti-Cancer

Tarnona                                   Tablet                          Tarnoxifen 10mg

 

Brand name                           Dosage Form          Generic name & strength

 

Anticholinergic

Impramid                                                                      Inhaler            1pratropiurn Bromide

20ug/actuation

 

Anticolic

Neodrop                                  Suspension                  Simethicon 67mg/mI

 

Antidepressant

Apresin                                    Tablet                           Fluphenazine, 0.5mg

Atralin                                      Tablet                           Sertralin 50mg

Frenxit                                     Tablet                           Flupentixol 0.5mg

Melev 20                                  Tablet                           Paroxentine 20mg

Modipran                                 Capsule                        Fluxotine 20mg

 

Antidiabetic

Diactin                                      Tablet                           Glipizide 5mg

Diaglit                                       Tablet                           Pioglitazone 15mg

Diapro                                      Tablet                           Gliclazide 80mg

Diaryl                                       Tablet                           Gliclazide Img

Informet                                   Tablet                           Mefformin HCL 500mg

Informet LA                              Sustained                     Metformin HCL 500mg

Release Tablet

Premil                                      Tablet                           Repaglinide 0.5mg

 

Antiemetic

Inarzin                                      Tablet                           Cinnarizine 15mg

Onsat 8                                    Tablet                           Ondansterone 8mg

 

Anti-fungal

Fungistin                                  Oral Susp.                    Nystatin 100,00units/ml

Ornastin                                   Capsule                        Fluconazole 50mg

Neosten                                   Crearn                          Clotrimazole 0. 1%

Neosten VT                             Vaginal Tablet              Clotrimazole 0.2gm

Terbex                                     Tablet                           Terbinafine 250mg

Crearn                          Terbinafine 1%

 

Anti-Epileptic

Epilep                                      Tablet                           Carbarnazepine 200mg

Epilep CR                                Controlled                    Carbamazepine 200mg

Release Tablet

 

Anti-Histamine

Atrizin                                      Tablet                           Cetirizine HCL 10mg

Syrup                           Cetirizine HCL 5mg/5ml

Axodin                                     Tablet                           Fexofenadine 120mg

 

Bexidal                                     Tablet                           Mebhydrolin 50mg

Curin                                        Tablet                           Levocefirizine 5mg

Momento                                 Tablet                           Desloratadine 5mg

Syrup                           Desloratadine 2.5mg/5ml

Brand name                           Dosage Form          Generic name & strength

 

Pedeamin                                 Syrup                           Diphenhydramine 10mg/5ml

Pretin                                       Tablet                           Loratadine 10mg

 

Anti-Hypertensive

Amdocal                                   Tablet                           Amlodipine 5mg

Amdocal Plus                                                               Tablet          Amlodipine 5mg

Arbit                                         Tablet                           Irbesartan 75mg

Cardopril                                  Tablet                           Captopril 25mg

Dilapress                                  Tablet                           Carvedilol 6.25mg

Enaril                                       Tablet                           Enalapril 5mg

Neopril                                     Tablet                           Lisinopril 5mg

Primace                                    Capsule                        Ramipril 1.25mg

Prosan                                     Tablet                           Losartan Potassium 25mg

Valcap                                      Capsule                        Valsartan 80mg

 

Anti-HIV/AIDS

Avifanz                                     Tablet                           Efavirenz 600mg

Avifix                                        Tablet                           Nelfinavir 250mg

Avilarn                                      Tablet                           Larnivudine 150mg

Diavix                                       Tablet                           Lamivudine 150mg

Triovix                                      Tablet                           Nevirapine 200mg

Anti-Migraine

Avidro                                      Tablet                           Pizotifen 0.5mg

 

Anti-Obesity

Sibulin                                      Capsule                        Sibutramine 5mg

Alendon                                   Tablet                           Alendronate Sodium 10mg

 

Anti-platelet

Ordel                                       Tablet                           Clopidogrel 75mg

 

Anti-Psychotic

Sensipin                                   Tablet                           Clozapine 25mg

 

Anti-Spasmodic

 

Rostil                                       Tablet                           Mebeverine HCL 135mg

Spanil                                       Tablet                           Hyoscine Butylbromide 10mg

Taverin                                    Tablet                           Drotaverine 40mg

 

Anti-Ulcerant

Gastalfet                                  Tablet                           Sucralfate 500mg

Neoceptin R                             Tablet                           Ranifidine 150mg

 

Syrup                           Ranifidine 75mg/5ml

Neo Kit                                     Tablet                           Clarithromycin 500mg

Capsule                        Omeprazole 20mg

Tablet                           Metronidazole 400mg

Opton                                      Tablet                           Esorneprazole 20mg

Brand name                          Dosage Form           Generic name & strength

 

Proceptin                                 Capsule                        Omeprazole 20mg

Protolan                                   Capsule                        Lansoprazole 15mg

Yamadin                                   Tablet                           Famotodine 20mg

 

Asthma Prophylactic

Aeronid                                    Inhaler                          Budesonide 200ug/actuation

Bexitrol‑F                                 Inhaler                          Salmeterol 25uglactuation

Decomit                                   Inhaler                          Beclomethasone Dipropionate

Tofen                                       Tablet                           Ketotifen Img

Syrup                           Ketotifen lmg/5ml

Zukast                                      Tablet                           Zafirlukast 20mg

Monocast                                 Tablet                           Montelukast 10mg

 

Bronchodilator

Azmasol                                   Inhaler                          Salbutarnol 100 ug/actuation

Bexitrol                                    Inhaler                          Salbutarnol 25 ug/actuation

Bronkolax                                 Tablet                           Salbutamol 2mg

Syrup                           Salbutarnol 4mg

Larnox LA                               Sustained                    Aminophylline 350 mg

Release Tablet

 

Calcium Supplement

Aristocal                                   Tablet                           Calcium 500mg

Tripec                                      syrup                            Guaifenesin 100mg

Pseudoephedrine HCL 30mg

 

Cough Supressant

Dextromethorphan                   Syrup                           Dextromethorphan 10mg/5ml

 

COX-2 Inhibitor

Cox B                                       Capsule                        Celecoxib 100mg

Recox                                      Tablet                           Rofecoxib, 12.5 mg

V‑Cox                                      Tablet                           Valdecoxib 10mg

 

Digestive Enzyme

Zymet                                      Tablet                          Pancreatin 325mg

 

Diuretic

Resitone                                  Tablet                          Spironolactone 50mg

 

Gastroprokinetic

Deflux                                      Tablet                          Domperidone 10mg

 

Iron Supplement

Aristoferon                               syrup                           Ferrous Sulpahte 200mg/5ml

Aristrofil‑Fe Tablet                                                       Ferrous Fumarate 308mg

Efol ER                                    Capsule                       Iron 47mg+Folic Acid 500ug

Hefolin SR                               Sustained                     Iron 47mg+Folic Acid 500ug

Released Tablet

Carofol Z                                 Capsule                       Carbonyl Iron 50mg, folic acid

Brand name                          Dosage Form          Generic name & strength

 

Laxative

Serelose                                  Syrup                           Lactulose 3.35gm/5ml

Frelax                                      Powder for

Solution                       Polyethylene glycol 3350 UNSF

Lipid lowering Agent

Atova                                       Tablet                          Atorvastatin 10mg

Avastin                                     Tablet                          Siravastatin 10mg

Fibril                                        Capsule                       Gemfibrozil 300mg

 

Mucolytic

Spulyt                                      Tablet                          Bromohexine 8mg

Syrup                           Bromohexine l0mg/5ml

 

Muscle Relaxant

Relentus,                                 Tablet                          Tizanidine 2mg

 

Nasal Anti-Inflammatory

Decomit Nasal Spray                Spray                           Beclomethasone Dipropionate 50ug

 

Nasal Decongestant

Nazolin Nasal Spray                 Spray                           Oxymetazoline 25ug/actuation

 

 

 

Non-Steroidal Anti Inflammatory Drug

Fenamic                                   Capsule                       Mefenamic; acid 250mg

Nuprafen                                 Tablet                          Naproxen 250mg

Reumafen                                Tablet                          lbuprofen 200mg

Suspension                  Ibuprofen 100mg/5ml

Ultrafen                                    Tablet                          Diclofenac Sodimn 25mg

Suppository                 Diclofenac Sodium 12.5mg

Ultrafen SR                              Sustained                     Diclofenac Sodium 25mg

Ultrafen Gel                                                                 Released Tablet Gel Diclofenac Sodium 1%

Ultrafen Plus                             Tablet                           Diclofenac Sodium 25mg

Xidolac                                     Tablet                           Ketoprolac 10 mg

Xynofen 100 SR                      Sustained                     Ketoprolac 100 mg

Released Tablet

 

Ovulatory Stimulant

Fertil                                        Tablet                           Clomiphene Citrate 50mg

 

Scabidical

Noscab                                     Cream                          Permethrin 5%

Topical Antibiotic

Bumsil                                      Cream                          Silver Sulphadiazine 25g

Furasep                                   Cream                          Nitrofurazone 0.2%

Fusidic Plus                             Ointment                      Sodium Fusidate 2%

Gentosep                                 Cream                          Gentamicin 3mg/gm

Brand name                          Dosage Form           Generic name & strength

 

Tranquilizer

Keolax                                      Tablet                          Clobazarn 10mg

Nightus                                    Tablet                          Bromazepam 3mg

Zolax                                        Tablet                          Alprozolam 0.5mg

 

Urinary Incontinence

Uricon                                      Tablet                          Oxybutycin HCL 5mg

 

Vasodilator

Cerivin                                     Tablet                          Vinpocitine 5mg

Zocil                                         Tablet                          Cilostazol 100mg

 

Vitamins & Minerals

Aristoplex                                 Syrup                           Vitamin B I 5mg, vitamin B2mg

Aristovit‑B                                Tablet                          Vitamin B 15mg, vitamin B2mg

Aristovit‑M                                Tablet                          I I Vitamins, 5 minerals & Iron

Aristovit‑X                                Tablet                          8 Antioxidant Vitamin & minerals

Ascobex                                   Tablet                          Ascorbic Acid 250mg

Avitron ‑V                                 Tablet                          Thiamine HCL 100mg

Bextrum.                                  Tablet                          12 Vitamins, 18 minerals & Iron

Bextrurn Gold                          Tablet                          14 Vitamins, 18 minerals & Iron

Formula‑E                                Tablet                          Vitamin E 50mg

Momvit                                     Tablet                          Vitamin A26667 I.U, Vitamin A4001

Ascorbic acid 50 mg

Vivis                                         Capsule                       Vitamin E 30 mg, Vitamin C 60 mg

 

Zinc Supplement

Zedex DS                                 Syrup                           Zinc Sulphate 10mg/5ml
Pricing Strategies

Pricing

 

 Beximco pharmaceuticals Limited  maintains competition based pricing strategies. In the pharmaceuticals market there, is not much price differentiation, in general, among the different companies due to the highly competitive nature of the industry.

price is not a very important factor due to the nature of the product. Quality is more important. However, the purchasing capacity of the patients is also an important consideration. Therefore, it is important for the companies to charge a reasonable price for their product .

According the survey, most of the doctors perceive Beximco as offering reasonable pricing for their product .It may be due to the fact that Beximco has recently come up with a very competitive price for some of its key products.

People

People make a company. BPL’s success is based on attracting, developing and retaining talented and motivated employees. They share both a company’s desire to excel and its commitment to improving the lives of the people. The employees of BPL believe in collaborative spirit. They appreciate that working as a team multiplies the strength of the individuals involved as well as the impact of the results.

Skill acquisition and development for all staff is key to a company’s growth through innovation. In this regard, BPL is always on the look out to identify training needs of their employees in order to enable them to carry out the entrusted responsibilities. Training programs undertaken, not only address skills relating to the specialty of the individuals concerned, but also improving leadership, management and project coordination abilities.

Their purpose is not simply to explore the potential of today’s new technologies but to unleash the creativity in every person engaged with the company. Because BPL believes the real measure of their success is not the power of technology but the power it unleashes in people.

BPL has highly educated white-collar employees comprising of approximately 76% of total BPL’s workforce. Among them are:

Ph.D.                                                                                                                          06

Engineers                                                                                                                 23

Pharmacists                                                                                                            73

CMA                                                                                                                           05

CA                                                                                                                              01

MBA                                                                                                                           12

Chemists                                                                                                                  80

Biochemists                                                                                                            10

Microbiologists                                                                                                       02

Physicians                                                                                                               11

Others (Graduate)                                                                                                  651

It is BPL’s people who make them different from their competitors. the secret of BPL’s success story lies in their people.

 

Distribution Strategies

Medical Representatives

Personal Selling is the interpersonal arm of the promotion mix. Personal selling involves two way, personal communication between Medical Representatives and doctors. Since Medical Representatives represent the company to doctors they are vital in creating the image of the company in the customer’s mind. Therefore, BPL gives extra concern in managing and sprucing up its Medical Sales team.

Basic Requirements for recruiting a Medical Representative:

q  Masters degree with science background

q  Minimum second classes all through academic life

q  Good interpersonal skills

q  Well Groomed

Medical Representative’s Major Responsibilities:

q  Conducting recall researches to chose the right and potential doctors

q  Visiting the doctors

q  Detailing product features to Doctors

q  Generating Demand from Doctor’s end

q  Visiting the Chemists to collect indent from them

q  Placing the indents to the distribution department through sales department

Routine Work of Medical Representatives:

q  In a working day, a MR has to visit 16 doctors and 10 chemists

q  In a single visit, on an average, he has to detail 8 to 10 products, out of which 2 are usually new products and the rest are follow up products

q  On an average, a MR has to spent 15 minutes for a doctor

q  He has to submit a monthly tour program report

In-house Training programs provided to the Medical Representatives:

42 day long Induction Training Program to develop:

q  Grooming

q  Attitude

q  Morality

q  Motivation

q  Communication Skill

q  Selling Skill

Fundamental Training Program on:

q  Basic Medical science

q  Biology

q  Chemistry

q  Biochemistry

q  Molecular Science

Regular Training Programs on topics related to specific products (Product interaction, constituents, product kinetics, dosage, competitive advantages, side effects, etc).

Basis for designing a territory for the Medical Representative:

q  Number of doctors and chemists in the territory

q  Geographical Location

q  Communication/ traveling time between two visiting points

q  Number of possible calls per day

Marketing/Promotional Strategies

Before patients can benefit from the steady stream of modem medicines flowing from the pharmaceutical industry, an important part of the fast-moving process of innovation is to keep doctors, pharmacists and other health professionals up to date with the work going on in clinical research and to inform them about the availability of new medicines. Studying different market characteristics is the main function of marketing department. There are different types of market for pharmaceutical products. According to the market characteristics a product can be classified in three major parts

 

• Prescription-only medicines – available only through a doctor’s prescription

• Pharmacy sale medicines -Only registered pharmacy can sell these medicines with or without the prescription of a doctor.

• OTC (Over the Counter) medicines – Any one can buy and sell these medicines.

 

Marketing of Pharmaceutical product is different in Bangladesh. In Bangladesh the drug buying and selling is completely regulated by rules. Pharmaceutical Products cannot enjoy advertising like any other consumer products. So personal selling is the way the products can be advertised and sold. As, Over the Counter products do not require any rule to buy or sell it has a chance to go through print advertising and television advertising. But marketing of prescription only medicines and pharmacy sale medicines can be done only through personal selling.

 

Different buying behavior has a great impact on marketing a product. Understanding the consumer’s buying attitude is the first job of any marketer. To analyze behavior, the marketer has to visit the place, gain knowledge about their financial condition, culture, tradition and the competitor position.

 

After analyzing the buyer’s attitude, the second important factor is to make the sales force effective and efficient. This is done through extensive training and in-house medical education programs. Once the sales team (medical promotion executives) has acquired adequate knowledge and interpersonal skills, they are set off into the market. A typical medical representative a science graduate and will have access to considerable detail about the company’s products. Medical representatives are a convenient and helpful way for doctors to get rapid and accurate information about medicines. They must maintain a high standard of ethical conduct and must not employ any inducement or subterfuge to gain an interview. Relevant inexpensive promotional items are provided. Hospitality can be provided only in association with scientific and promotional meetings, scientific congresses and other such meetings. It can only be provided to appropriate delegates or participants. The level of hospitality must be secondary to the main purpose of the meeting.

Advertising Appeals

“Perception defined: “Perception is defined as the process by which an individual selects, organizes and interprets stimuli into a meaningful and coherent picture of the world.” It can be described as “how we see the world around us.”

For pharmaceutical products, patients are the ultimate consumers of the products. However in most cases they purchase those drugs that are prescribed by the doctors. So doctors are considered to be the target customers for pharmaceuticals products. Considering this, we would consider doctors as the customers and proceed accordingly.

 

“Physicians tend to be more rational in their decision making than ultimate consumers. They prescribe to fit the needs normally are of a practical nature. But it should not be forgotten that these physicians are individuals having personal needs which become enmeshed with their roles as decision makers of their patients. Thus, even choice of a prescription drug may be made on bases which are non-rational or emotional.

 

The advertisers (marketers) have recognized the various factors which influence prescribing decisions and have structured their advertising appeals toward these factors. The following is a list of types of appeals used to influence prescription drug decision :

Rational Appeals :

  1. Product Related Appeals

q  Economy

q  Degree of Innovation

q  Differentiation/ Position

q  Packaging

q  Dosage Form/ Taste

 

  1. Physician Related Appeals

q  Peer/ Specialist Approval

q  Pharmaceutical/ Therapeutic Committee Approval

q  Therapeutic Aid in Practice

 

3.   Clinical Use Appeals

q  Dependability

q  Safety

q  Clinical Illustration

q  Effectiveness

q  Reminder

 

  1. Patient Related Appeals

q  Compliance

q  Quality of life

q  Patient Acceptance/ Preference

 

5.  Manufacturer Related Appeals

q  Experience

q  Service

q  Special Expertise

Non-Rational Appeals:

q  Empathy

q  Humor

q  Sex

q  Curiosity

q  Fear

q  Unusual non-clinical illustration

q  Ego gratifying

q  Anger/ Defensiveness

q  Patriotism

 

Any advertiser attempts to relate the specific benefits of his product to the specific needs of the consumer of the advertising message. Varying advertising appeals are merely reflections of varying needs of the advertising target as determined by the advertiser. This is true for any advertising. Prescription drug advertising is a special case, however. Some of the distinctive characteristics of this market are listed below:

 

1.   The consumer of the advertising is often not the consumer of the product

 

2.   Institutional advertising {designed to enhance the firm’s image rather than promote a specific product) is of greater importance here than in many other markets.

3. Because of the nature of the products, advertising and scientific communications tend to be confused. On one hand, advertisements may disseminate research results. On the other, favorable scientific reports in reputable journals may stimulate the sale of products. Some claim that pharmaceutical advertising at times becomes educational in character since the information it contains may constitute a valuable aid to therapy.

4.   In theory, the physician is a rational decision-maker, somewhat similar to the industrial goods purchaser so that the emotional appeals of consumer advertising might (again in theory) be inappropriate to the audience. In actual practice, however, it is not at all unusual to see an emotional appeal in prescription drug advertising. Our working hypothesis is that the rational appeal is more useful for primary-demand stimulation; and the emotional appeal for selective demand stimulation.

 

5.   Product and institutional advertising (or combinations) are important to the pharmaceutical manufacturer trying to establish its brand names. Although straight – forward advertisements by unknown manufacturer may be effective under special conditions, they may be viewed with some suspicion by some readers.

 

6.   Ethical pharmaceutical products seem to be adopted in response to the combined stimulus of an unusual number of different forms of promotion (detailing, journal advertising, direct mail, and communication with other physicians and/or pharmacists). The relative influence of each advertising medium in stimulating the continued use of a drug product may be entirely different from its relative influence in introducing the same product.

 

7.   Drug advertising is unique in presenting both the good and the bad about the product. Although federal regulation plays a large role in this, few, if any, other industries routinely point out the shortcomings of their products in their advertising. .” (Micky C. Smith, 1991)

 

“The totality of the communication process influences the way in which different audiences perceive an organization. In the pharmaceutical industry there arc two types of communication: i) interpersonal and ii) impersonal. Selective attention of doctors, noise created by competitors and the environment, selective perception of brands, and so on are few barriers to any pharma communication process. The source and credibility of communication is very important for every pharma brand.

 

Interpersonal communication sources are either formal or informal. Among formal sources, other fellow physician’s influences, guides, coworkers, pharmacists and professors provide additional credibility. In the case of informal sources, the family, neighbors, and non-professional friends influence the choice.

 

In impersonal communications; reference of college and university for physicians, corporate image of brand, brand image of a product, and the government influence the communication impact.

 

The risk dimensions represents the level of prescribing risk, degree of uncertainty about innovation, and the prescribed clinical interest in the product. The rationality dimensions represent the level of rational arguments available to convince the physicians of the product’s effectiveness.

 

One of the most crucial aspects of the marketing strategies of a pharmaceutical company is effective communication with the target market. Usually a variety of communication means comes into play — the sales force, journal advertising direct mail, conferences, samples, gifts, newspaper advertising, freestanding supplements, cable TV, teleconference, video cassettes, video magazines, and telemarketing. Given the nature of the pharmaceutical products, personal communication with prescribes is a key factor for success. The sales force muscle of drug companies is, and will be , together with the quality of their products the most important factor in obtaining successful product penetration.

 Promotional Tools

q  Scientific Seminar: The Medical Department arranges seminars and workshops covering a wide range of medical topics. These events are led by Beximco’s team of Medical service experts and are attended by members of the medical profession. It also organizes a good number of National Symposia on specialized medical topics, which are attended by country’s renowned physicians and scientists.

q  Newsletter: The Medical Newsletter is a compilation of latest information gathered from articles published in different national and international journals covering all disciplines of medical science. The Newsletter is circulated among 17500 doctors in the country and is also distributed in Myanmar, Pakistan and Kenya. Doctors who do not have access to international journals can obtain information relevant to their practice from the newsletter.

q  Special Publications: The pharmaceutical industry is also deeply involved in doctors’ continuing education, and helps in training prescribes in the uses and techniques of new medicines. GPs and other health professionals would find it difficult to keep up to date with scientific and medical advances in health care without these initiatives. Scientific and technical meetings make available specialist expertise and speakers in therapeutic areas, which the doctors themselves have often selected as being relevant and useful. Around half of all educational meetings are sponsored by the pharmaceutical industry and may be in therapeutic and clinical areas in which the company may have no direct product involvement.

q  Responding to Doctor’s Queries: Beximco takes great care in answering queries from doctors. The Medical Department’s team of highly dedicated professionals is well trained to attend these queries. The company encourages doctors to send their queries in postage paid envelopes attached to every copy of the newsletter or on a specific query form distributed in each clinical meeting. Currently most of the doctor’s queries are met through its own Internet facilities.

q  Medical Illustration and Audiovisual Aids: To assist physicians in sharing the results of their academic research and experiences with the larger medical community, Beximco extends its services to a great extend, in preparation of presentation packages including slides, transparencies and texts. The medical department has built up an extensive video library of internationally reputed video journals on different medical topics. Theses videocassettes are about actual surgical procedures, the latest information about treatment modalities and various ailments.

Findings

  • Beximco Pharmaceuticals Ltd (BPL) has an adequate product range. It also has a good position in terms of quality perception,
  •  Most of the doctors believe that Beximco’s products ensure rapid recovery. However, BPL’s product presentation is below par. The doctors are also of the opinion that Beximco come up with new products in reasonably short periods of time. BPL has formed a positive image among the doctors that it offers its products in reasonable price.
  • Doctors are of the opinion that Beximco has a moderate distribution network.
  • Although BPL’s medical representatives provide prompt service , they are not quite knowledgeable. The Printed promotional materials provided by Beximco Pharmaceuticals Limited is not quite attractive as other pharmaceuticals companies
  • Frequency of distribution of medical newsletters is moderate.  The physicians are not satisfied with the gifts provided by BPL. They also feel that, not adequate sample is provided to them by the Medical representatives of Beximco Pharmaceuticals Limited. Moreover, the expensive medicines are not provided as samples at all.

 

Limitation

 

From our point of view:

For study like this, the scope of time is very limited for collecting and analyzing information. Besides there are physical limitation for gathering all necessary information. Further the collection process is hampered by financial limitation.

 

From company’s point of view:

Environment For the BPL’s Image all marketing mix information is not available online. Company’s strategic information is restricted general people. Therefore our study has a limitation at this side.

Conclusion

 

In today’s competitive environment, pharmaceutical companies are demanding much greater coordination from promotional activities to physician customers. By conducting image analysis, it can help pharmaceutical companies better target and segment customers, select the proper combination of marketing channels, and precisely measure the impact of promotional programs.

 

There are about 300 companies operating in the Bangladesh Pharmaceuticals industry. The market is highly competitive and it really hard to get response from the market.

 

Pharmaceutical Industry has grown in Bangladesh in the last two decades at a considerable rate. Its healthy growth supports development of auxiliary industries for producing glass bottles, plastic containers, aluminum collapsible tubes, aluminum PP caps, infusion sets, disposable syringes, and corrugated cartons. Some of these products are also being exported. Printing and packaging industries and even the advertising agencies consider pharmaceutical industry as their major clients and a key driving force for their growth.

 

The annual per capita drug consumption in Bangladesh is one of the lowest in the world. However, the industry has been a key contributor to the Bangladesh economy since independence. With the development of healthcare infrastructure and increase of health awareness and the purchasing capacity of people, this industry is expected to grow at a higher rate in future. Healthy growth is likely to encourage the pharmaceutical companies to introduce newer drugs and newer research products, while at the same time maintaining a healthy competitiveness in respect of the most essential drugs.

 

Further Recommendation

 

Beximco Pharmaceuticals Limited should increase its product variety. Product variety represents different types of items of medicines. At present, Beximco offers around 180 different types of medicine. Some other companies are offering more than this. BPL can diversify itself from others by operating in highly specialized segments such as anti cancer segments.

 

Introduction of new products to doctors is vital because it can enhance the image of the company. It is always a good idea to find a gap to introduce a new item. Beximco can locate the products areas where there are less number of alternatives and also higher amounts of requirements.

 

BPL’s promotion is quite weak. They should provide more product samples gifts to the doctors to increase their image among them.

 

Doctors should be informed previously that new medicines are coming up and will be offered within two or three months. Thus the doctors can perceive an insight about the new Beximco’s medicines as an alternative of competitor’s existing items and Beximco pharma can gain good rapport with the doctors.

 

BPL’s distribution is quite weak. Steps must be taken to strengthen the distribution network. This will require more effort on the part of the medical representatives.

 

Pharmaceutical direct-to-physician marketing efforts have typically been isolated from other customer-centric activities, including those conducted by field sales forces. A dis-jointed relationship exists between pharmaceutical sales teams and direct-to-physician marketing. While the pharmaceutical industry has made significant investments in direct-to-physician promotions, the sales force is generally uninformed about their timing or end results. BPL should enhance their ability to link home office conducted marketing campaigns with field force activities through information, software, and service solutions to make these efforts more coordinated and therefore more effective.

 

Direct to consumer (DTC) essentially means any campaign or communication program intended for and targeted to consumers – the primary end users of a product. In relation to pharmaceutical products, the consumers may be patients, friends or family members, caregivers or the general public.

 

The strict regulations that have governed the communication of information about prescription medicines in Bangladesh meant that the primary marketing focus has been on the people who actually make prescribing decisions; the doctors.

 

These include the impact of communication to consumers via the internet, patient education, word of mouth or use of editorial space or air time in print and broadcast media.

 

More than ever before patients are getting involved in making their own healthcare decisions. The growth in over-the-counter drugs and the dissemination of information on the world wide web and in consumer magazines have all contributed to a thirst for information. Beximco Pharmaceutical Limited can make an advantage of this and bring about some changes to fulfill these needs and as result it will enhance the image of the company.

 

Direct to consumer (DTC) advertising is thought to enhance competition between brands, which can lead to improved quality and lower prices for consumers but, most importantly, it can improve public health.

 

References

Annual Report of Beximco Pharmaceuticals Ltd.

Company Internal Data

Medical Representative

Company Web Site

 

 

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on whatsapp
Share on telegram
Share on pocket

এরকম আরও নিউজ

আলোচনায় অংশগ্রহণ করুন