4p Analysis
4P ANALYSIS OF SMILAX LABORATORIES LIMITED: * PRODUCT * PRICE * PLACE * PROMOTION
PRODUCT:
The Products offered by the company are:
PRICE:
Internal factors affecting pricing of drugs are:
Goal and Objectives
Company’s goals and objectives are to create the market share of its company and to survive in the market. So company shifts its prices to increase sales and to create its market position.
Organizational Consideration
The decisions regarding the price of drugs is undertaken by the mutual consent of Smilax (Director and Members), Drug Marketing Managers. The up and down in the price of the drugs is due to their Competitors price strategy.
External Factors affecting pricing of drugs are:
Market and Demand
Drugs has a stiff competition now a days due to many competitors competing, The season also plays an important role in the demand of the drugs.
Competitor’s Pricing Strategy Competitor’s price strategy also affects the price and promotional strategy of the Company. Prices Adjustments Techniques
Discount Techniques Smilax follows different discounts techniques for the distributors, retailers and consumers. The details are as follows.
Distributors
Smilax offers a decent discount to their distributors on the bulk drugs.
Some other examples of pricing decisions in pharma include: * Pricing strategy (skimming, penetration, etc.) * Volume discounts and wholesale pricing * Cash and early payment discounts * Seasonal pricing * Bundling * Price flexibility * Price discrimination
The price is the one of the important aspect in the success of any company, coming to the pricing in pharmaceutical companies it is not that easy because the research and development, patents, certifications are high and the demand for the drugs also depend on the diseases, the companies which are maintaining all the standards can demand a high price in the market when compared with the other companies which
PRODUCT:
The Products offered by the company are:
PRICE:
Internal factors affecting pricing of drugs are:
Goal and Objectives
Company’s goals and objectives are to create the market share of its company and to survive in the market. So company shifts its prices to increase sales and to create its market position.
Organizational Consideration
The decisions regarding the price of drugs is undertaken by the mutual consent of Smilax (Director and Members), Drug Marketing Managers. The up and down in the price of the drugs is due to their Competitors price strategy.
External Factors affecting pricing of drugs are:
Market and Demand
Drugs has a stiff competition now a days due to many competitors competing, The season also plays an important role in the demand of the drugs.
Competitor’s Pricing Strategy Competitor’s price strategy also affects the price and promotional strategy of the Company. Prices Adjustments Techniques
Discount Techniques Smilax follows different discounts techniques for the distributors, retailers and consumers. The details are as follows.
Distributors
Smilax offers a decent discount to their distributors on the bulk drugs.
Some other examples of pricing decisions in pharma include: * Pricing strategy (skimming, penetration, etc.) * Volume discounts and wholesale pricing * Cash and early payment discounts * Seasonal pricing * Bundling * Price flexibility * Price discrimination
The price is the one of the important aspect in the success of any company, coming to the pricing in pharmaceutical companies it is not that easy because the research and development, patents, certifications are high and the demand for the drugs also depend on the diseases, the companies which are maintaining all the standards can demand a high price in the market when compared with the other companies which