Corporate world is operating in an environment that is turbulent and ever changing. In this environment information is crucial to compete successfully in the market, where the market research plays an important role as it provides various information about the market to the company and facilitates strategic decision-making so that the organization may achieve its objectives. Cipla Healthcare Limited A major force in the pharmaceuticals and healthcare segment, Cipla Healthcare Limited, incorporating Healthcare Solutions & Pharma Solutions, has an unequivocal vision – to become the most admired pharmaceutical company, with leadership in market share and profits. Healthcare Solutions This is a division with a dream to build a differentiated and a profitable pharmaceutical business with a dominant share of market in each segment in which it has a presence. With a dream to transform the industry first in India and then …show more content…
INTRODUCTION TO THE COMPANY: Cipla was registered as a public company with an authorized Capital of Rs.6 lakhs on August 1935. This was started as a small drug and medicines manufacturer under the name “The Chemical, Industrial and Pharmaceutical Laboratories”, which came too popularly called as Cipla. Cipla was officially opened on September 22, 1937 when the first products were ready for the market. Khawaja Abdul Hamied founded Cipla. In college, he found Chemistry fascinating. He set sail for Europe in 1924 and got admission in Berlin University as a research student of “The Technology of Barium Compounds". He earned his doctorate three years later. He gave the company all his patent and proprietary formulas for several drugs and medicines, without charging any royalty. Cipla Ltd. has displayed remarkable understanding to grow both vertically and horizontally. Since its formation, Cipla has repeatedly scored success in its industrial ventures by tapping opportunities in the market, even in a fierce competition in the international
WellStar Health Systems is currently the preeminent and largest health care provider in Metro Atlanta. WellStar Health Systems is a not-for-profit institution that is composed of 5 hospitals and an abundance of physician groups. Physician specialty groups included within WellStar are: ENT, Psychiatry, Endocrinology, Pulmonary Medicine, Infectious Disease, General Surgery, Rehabilitation, Pathology, and Rheumatology. WellStar’s organizational design is composed of internal and external factors that define the organization’s size, organizational structure, and processes. Internal and external factors are the basis for influencing managerial conclusions in decision-making. These factors vary from organization to organization and are the rationale for understanding WellStar’s strengths, weaknesses, opportunities, and threats. Understanding these variables is a necessity for the sake of WellStar’s survival
In a competitive environment where market is changing instantly, organizations are in a fix to design a strategy that could market their products enticing the consumers to buy their products and services. Market is the arena for business gladiators who fight out for maximum share and profitability and this is possible only through effective marketing strategy. Competing in present economy means finding ways to break out of commodity status to meet customers’ needs better than competing firms (Ferrell and Hartline, 2010). The intensity of competition has increased after the introduction of media and internet where the companies present their product in the best way through advertisements, product reviews, blog entries, etc. With the advancement in technological innovations, companies have found various ways of providing services to the consumers in a cheaper and effective way and this has resulted in communication revolution in late 1990’s as the cellular technology was unfold in most of the regions. Singtel Optus Pty Limited (Optus) is one such company that has evolved during this period as a leader in integrated communications and this paper is assumed to make an analysis of the company’s marketing strategy and its financial position in the market industry.
Gershon, H., & Pattakos, A., (2004). Creating market opportunities: Innovation is key. Journal of Healthcare Management, 49(1), 9-11.
HCA, after following a conservative financial policy since its establishment, has entered the new decade preparing to make some changes in order to realign their financial strategy and capital structure. Since establishment, HCA has often been used as a measure for the entire proprietary hospital industry. Is it now time for the market to realign their expectations for the industry as a whole? HCA has target goals which need to be met in order to accomplish milestones in the future. The problem arises as to which area holds priority to the company. HCA must decide how the key components of their financial strategy and policy should my approached in order to meet their future goals.
The point at which they decide to produce will rest on their own adversity of revenue, risk and effort. The company also needs to know the price elasticity of the curve: the greater the price elasticity, the more a company such as Pfizer will struggle to establish high prices and a high volume. Although monopolies appear damaging at times, there are arguments that they are an advantage to society. Monopolies in the pharmaceutical industry drive companies to pursue research and development (R&D) efforts to gain new patents. According to a 1992 study, among the 24 U.S. Industry groups, pharmaceuticals dedicated 16.6% of their amounts to basic research, while all other industries averaged at 5.3% (Sherer 1307).
The first social problem surrounding the health care system in the United States is the growing problem with pharmaceutical companies. The industry averages a 17% profit margin and it has been booming for decades, but the industry is being heavily led by a core group of companies (Dr. Pratt). “In 1992 the top 10 companies accounted for roughly one-third of global pharmaceutical revenue, after a period of consolidation, by 2001 the top 10 accounted for nearly half.”( Leon-Guerrero, Zentgraf, 172). These companies hold a large majority of the market share and make most of their money off patented drugs. This growing core of companies that are dominating the market are causing more problems rather than solving them. These companies are all about making as much money as they can and it shows through the salaries of the executives of these companies (Dr. Pratt). The pharmaceutical industry should have their number one priority be to the users of their products rather than profit gains.
In the modern world of the health-care industry, it is vital that an organization’s financial statement analyses be kept up to date and reported accurately within the company. A financial analysis is an evaluative method of determining the past, current and projected performance of a company (Investopedia.com, 2016). Collectively, patients seek superior quality of health care services and integrity from professionals who work in the hospitals and serve the communities worldwide. Although the health care industry is rapidly changing as time progresses, providers still have an obligation to satisfy the patients and deliver excellent care to those in need.
Roxie Photography is a photography business located in Fort Wayne, Indiana. Roxie Photography specializes in Newborn Photography and Boudoir Photography. The company is new to the Fort Wayne Area, having moved to the area from Guam. Roxie Photography owns a physical location, on East State Boulevard. The company currently offers two services, Boudoir sessions and Newborn sessions. Roxie Photography’s main focus is on the Boudoir service.
William Boeing studied at Yale engineering college before leaving to make his fortune on the West Coast. After trading forestlands, Boeing moved to Seattle, Washington. In 1910, he attended the first American air meet in Los Angeles. He returned to Seattle eager to explore the new field of aviation. The next five years afforded Boeing the opportunity to discuss all the possibilities with George Westervelt, a Navy engineer that had studied at the Massachusetts Institute of Technology and taken several aeronautics courses. They quickly determined that they could build the best airplane on the market.
Due to longer life expectancy and the rapid increase of the world’s population, the pharmaceutical industry is becoming increasingly important. The problem of aging population and high healthcare cost is particularly serious in Japan. This essay will focus on a Japanese drug maker – Takeda Pharmaceutical Company Limited (Takeda, the company). First, in order to provide background information, the current business model and relevant information of Takeda will be outlined and analysed based on financial data and the company’s annual reports. Second, the essay will examine the most significant challenges that the company has faced over the past five years, including the cause and effect behind this challenges. Finally, the discussion will be looking at the pharmaceutical industry as a whole, exploring the merger and acquisition activities of large pharmaceutical firms in the world, i.e. Big Pharma.
When promoting primary health care services, there are many factors that must be considered when developing an effective marketing plan. Primary care providers are the gatekeepers of health care in the United States; many patients have to visit them before being referred to specialist providers (Bodenheimer, 2003). They are also being tasked with ensuring patients are receiving preventative services and managing more complex chronic diseases (Akinci & Healey, 2004). Recruitment of primary care physicians is challenging because they are expected to do more and are not being reimbursed proportionally for the added workload (Bodenheimer, 2003). In this paper, a group of primary care physicians in Washington D.C. is looking to research their consumer population base in order to provide them better services and recruit new primary care physicians to their practice (Colorado State University-Global Campus, 2013). A successful primary care marketing plan will recruit quality health care providers while improving consumer accessibility to their services, customer satisfaction rates, and patients’ continuity of care with their health care provider.
In this unit, we will be discussing real-life healthcare organizations, the 5 P’s of healthcare marketing, and evaluation strategies that may be used to determine marketing potential.
Briefly it is a systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company, allows management to make the changes necessary for better results through adopting a proactive approach. Therefore, if a company wants to know what type of products or services would be profitable it should make a market research. Furthermore, a comprehensive research will enable the company to know about the product imperfections (if there are) and to know if it has been able to satisfy customers’ needs. It attempts to provide accurate information that reflects a true state of affairs. Due to market research the company can formulate a viable marketing plan and estimate the success of its existing plan. There are two main sources of marketing research information:
According to recent studies conducted, the patients have aspirations that are changing. Customers are becoming aware of their health needs, demand less waiting time for their service, quick response, and better quality of service and availability of healthcare units nearby. These factors results in immense opportunity for the healthcare industries to set their foot prints in India. Reports from Mckinsy and IDFC state that Indian Healthcare Industry will be worth of US$ 125 billion by 2019.
On the other hand, weaknesses existed. The primary research was the most difficult and frustrating sector, for it was difficult to keep in touch with the potential competitors; hence, a chance to learn more and analyse deeper from the potential competitors was missed. To conclude, the result and analysis of primary and market research which was based on the questionnaire was not convincing enough, and it was the main sector which needed to improve in the future.