Professional Documents
Culture Documents
Table of Contents
Executive Summary...................................................................................................................2
1. Introduction............................................................................................................................3
1.1 Overall Aim......................................................................................................................3
1.2 Products / Services...........................................................................................................3
1.3 Key success factors..........................................................................................................3
2. Situational Analysis................................................................................................................3
2.1 Market Needs...................................................................................................................4
2.2 Market Trends..................................................................................................................4
2.3 Market Growth.................................................................................................................5
2.4 SWOT Analysis................................................................................................................5
2.5 Competitor Analysis.........................................................................................................6
3. Marketing Strategy.................................................................................................................6
3.1 Aims and Objectives........................................................................................................6
3.2 Marketing Research.........................................................................................................7
3.3 Marketing Mix.................................................................................................................7
3.4 Target Markets..................................................................................................................8
3.5 Positioning Strategy.........................................................................................................8
4. Monitoring and Controlling...................................................................................................9
References..................................................................................................................................9
Executive Summary
The Makkah Discount Pharmacy (MDP) offers low price medicines to local customers at
store and remote customers through mail order. The pharmacy aims to increase its sales
through sound marketing strategies in order to increase repeated customers. MDP also aims
to improve awareness in customers through marketing campaigns. The store intends to
decrease its cost of operations by eliminating unnecessary services for customers by
introducing self-pay service at store. As the trend of mail orders is increasing so the pharmacy
wants to utilise this opportunity to obtain economies of scale by selling large amount of drugs
to remote customers with less labour required per order. It is believed that the pharmacy will
get enormous support from pharmaceutical and insurance companies that will save massive
amount of money which will result in an increase in profitability. The market share of MDP
will be increased by employing a number of marketing strategies which include: market
research, marketing mix, targeting, and positioning strategies.
2. Situational Analysis
A situational analysis indicates the collection and evaluation of data that links with internal
and external forces that may influence the performance of the organisation (Ferrell, 2012).
3
The MDP has just started and gives more importance to proper marketing strategy to achieve
short-term goals and long-term targets. The pharmacy has a variety of medical products and
medicines that customers can pickup from the store or can be delivered to them through mail
order. The pharmacy believes that it can attract many customers quickly due to the lower
prices and fast delivery services.
Weaknesses
pharmacies
o
order setup
oriented staff
o
Threats
3. Marketing Strategy
A marketing strategy is that allows an organisation to concentrate on its optimal resource and
future prospects to increase profitability and achieve sustainable competitive advantage
(Farrell, 2012).
pharmacist, the MDP is not required to hold the patients hands when they buy prescribed
medicines. The pharmacy customers are in majority who are well-informed and take regular
medicines and also have some awareness of the side-effects of medicines in case of over
usage. Despite the consequences, MDP will give each customer a print out with necessary
information on it about how to consume the product in case of general medicines with no
prescriptions.
References
Belk, R.W. (2007). Handbook of Qualitative Research Methods in Marketing. Edward Elgar
Publishing
Bhattacharya, C. (2009). Services marketing. Excel Books India
Boone, L.E. (2012). Contemporary Marketing. 16th edition, Cengage Learning
Chisholm-Burns, M.A., Vaillancourt, A.M. and Shepherd, M. (2013). Pharmacy
Management, Leadership, Marketing, and Finance. Jones & Bartlett Publishers
Ernst and Young (2013). The shifting pharmaceutical industry landscape. January 2013.
Ferrell, O.C. (2012). Marketing Strategy Text and Cases. 6th edition, Cengage Learning
Parvis, E.N. (2002). The Pharmaceutical Industry: Access and Outlook. Nova Publishers
Navarro, R.P. (2009). Managed care pharmacy practice. 2nd edition, Jones & Bartlett
Publishers
Pride, W.M. and Ferrell, O.C. (2011). Marketing. Cengage Learning
Saudi Gazette (2013). KSA leads GCC pharmaceutical sector growth. April 01, 2013
Ventola, C.L. (2008). Challenges in evaluating and standardizing medical devices in
healthcare facilities. A Peer-Reviewed Journal for Care and Hospital Formulary
Management. 33(6), pp. 348359