Preview

Situation Analysis- Pharma Industry

Satisfactory Essays
Open Document
Open Document
568 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Situation Analysis- Pharma Industry
The retail pharmacy industry in Slovakia faced huge competition, owing to the presence of a large number of pharmacies [2005 pharmacies, as of 2011, or roughly one pharmacy for every 2683 inhabitants]. Stiff guidelines and directives issued by the Ministry of Health, wherein it was required that every pharmacy have a “responsible pharmacist”, and only one pharmacy be operated per license, led to the rampant mushrooming of the retail pharmacy outlets throughout Slovakia. Under such stiff competition, pharmacies differentiated themselves on the basis of cosmetic and hygiene product selection, and more importantly, the level of customer service that they provided.
The Sunpharma Group, a growing pharmacy chain, established in 1998, fell short on counts of customer service provided by their pharmacists and the soft skills possessed by them. Though the pharmacists had all the technical know-how related to the drugs and medications, they still needed some training when it came to serving the customers as the front-line people heading the pharmacies. Linda Dolinova, the Human Resources manager at the Sunpharma Group realized that the need of the hour was to train the employees to enhance customer service and support, so as to sustain themselves in the fiercely competitive pharmacy industry.
The pharmacists’ role no longer remained merely that of a technically equipped person when it came to medication; it was more than that. The role of the pharmacist was evolving, as the growing customer needs placed more emphasis on “serving” and “satisfying” customers, along with providing customers with advice and consultation as and when required.
Moreover, the retail drugstore format in Slovakia was shifting towards that of an open-space, self-service one, a deviation from the earlier closed-space format. Sunpharma had already gone ahead with and it generated favourable responses from the customers under its “Mystery Shopping” initiative. Sunpharma strived to live up to its

You May Also Find These Documents Helpful

  • Good Essays

    There was a growth of 2% in the sales of retail drug industry of the US. This is because; the retail segment has been growing at a steady pace for the last few years due to the positioning of healthcare products and services in the market (Redman, 2011). The positioning of drug stores in the market is well organized due to the presence of low average ticket, convenient locations, inflation, and flow of pharmacy traffic.…

    • 1293 Words
    • 6 Pages
    Good Essays
  • Satisfactory Essays

    Since this store’s biggest profit area is the pharmacy department they are always in competition with Walgreens. These two are across town from each other but are the only two pharmacies to supply the three towns that are in this area. The next closest pharmacy is Wal-Mart twenty miles away. CVS competes to have the lowest prices to get all the business instead of Walgreens. CVS advertises that they bet Walgreens prices by carrying generic medication to help lower prices.…

    • 432 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Cvs Swot Analysis

    • 586 Words
    • 3 Pages

    CVS is a store that seems to be on every corner in every town in South Jersey. CVS stands for “Consumer Value Store” and they have been serving men and women since 1963. In 1967 the company opened its first pharmacy department, and in 1996 according to its website “CVS Corporation becomes a standalone company trading on the New York Stock Exchange under the CVS ticker.” CVS has much competition, whether it is Walgreens or Rite Aid, however there is something about that red sign that assures customers that CVS is the place to shop. Some of the reasons why CVS has been so profitable over the years is because they have made it a priority to work with local communities in a strong act of Social Responsibility. Over the past few years CVS has also allowed customers to shop online, in efforts to strengthening their E-business CVS corporation has always been a pioneer in their field and has always found new ways to innovate and inspire.…

    • 586 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Pharmacies have an enormous responsibility toward the community they serve because even a minor mistake can cause a big damage (temporal or permanent) on a patient’s…

    • 1706 Words
    • 7 Pages
    Better Essays
  • Satisfactory Essays

    The Prescription drugs industry is one of my national economy important and special industry. It is closely related to people's health and life security, to protect and improve people's health has played a big role. Also, Industry's profit margin is very considerable. On the other hand, Prescription drug is a special kind of products, has a certain sensitivity, for the quality of the products and technology have very strict requirements. Because it is a direct effects on the human body, is closely related to people's health. The particularity of the industry is that ordinary consumers for the quality of the product and generally difficult to recognize and grasp the nature, generally trusted certification authority. Thus, From my perspective,…

    • 126 Words
    • 1 Page
    Satisfactory Essays
  • Better Essays

    The third step in this concept analysis is to examine current uses of the concept of medication communication. Manias describes four ways in which the concept is used. One way involves the processes used to help ensure the patient is prescribed the correct medicine and then takes the medicine as prescribed. Another use centers around the pharmacist: the pharmacist coordinates with the healthcare provider in assessing the patient, determining a plan of care, and evaluating the effectiveness of any medication treatment. A third use focuses on healthcare providers and pharmacists working together to meet the needs of the patient. The patient plays an active role in any medication decisions, and also helps to evaluate its effectiveness. The fourth and final way involves all the healthcare professionals associated with his or her medication treatment.…

    • 993 Words
    • 4 Pages
    Better Essays
  • Good Essays

    Over the summer, I worked in a Community Pharmacy which allowed me an insight into the intriguing change in the shift in the role of the community pharmacist, from solely dispensing prescriptions to now offering advice and counseling in regards to medication, services and products.…

    • 457 Words
    • 2 Pages
    Good Essays
  • Good Essays

    An ambulatory care pharmacist works closely with a medical team in order to provide the best course of therapy for a patient managing a chronic disease state. Ambulatory care caters to patients that are able to arrive at a clinic by their own means, in order to see a physician. Upon arrival at the clinic they are seen by a team of health professionals, including a pharmacist. Pharmacists assist physicians with medication information, checking for drug interactions, and recommending an alternative course of therapy when the current therapy is too expensive or is hard for the patient to maintain (Urbine, Link, Schneider, Schmitz, and Kistler, 2012). Ambulatory care pharmacist work closely with patients suffering from chronic disease states,…

    • 282 Words
    • 2 Pages
    Good Essays
  • Good Essays

    An issue with the distribution of drugs is that it is more profitable for drug companies to sell the drugs in MEDC’s than LEDC’s. An example of this would be GlaxoSmithKline, as they mainly sell their products in MEDC’s, but in many cases, the countries with…

    • 381 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Being A Pharmacist Essay

    • 1001 Words
    • 5 Pages

    Many individuals are completely unaware of the variety of job opportunities that a pharmacist has. Unfortunately, pharmacists are sometimes seen as “peel and stick” workers, and do not get enough credit for the tasks that they complete behind the scenes. Whether a health-system pharmacist, community pharmacist, federal pharmacist, or pharmacy director they all play an imperative role in the health of a patient. There are a many opportunities for a 21st century pharmacist in the health care system. And, in my opinion, these opportunities are only going to grow more and more in the next few years.…

    • 1001 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Pharmacists are vital to the health care industry because it provides medicine. Over time the responsibilities and duties of pharmacists have shifted drastically. The Food and Drug Administration is an agency that monitors and ensures safety of medicines Americans will use. Pharmaceuticals are the most regulated products in the country. The laws pertaining to the shifting roles and increased responsibilities in pharmaceuticals have emerged. The two legislative acts the fuel the power of the FDA is followed significant tragedies. Pharmacists provide care in case of emergencies and now are held responsible for…

    • 736 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Biopharma Case Study

    • 1265 Words
    • 6 Pages

    Optimization was performed using Excel to determine what production/distribution allocation would minimize the overall cost while accounting for fixed and variable cost of production, as well as transportation and import costs. My particular optimization determined that Japan should be idled on production of both chemicals while Germany (Europe) should be idled on production of Relax. The following shows the amount of each chemical that each region should make as well as plant capacity in millions of kg.…

    • 1265 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Competition, typically the most powerful external force, is increased by the advent of globalization. The number of companies and the number of countries where these companies operate and the way governments are dealing with the impacts of globalization is accelerating. The interaction of changes in government policy and business innovation has actually made globalization even faster. If a company does not become a global, it would simply be shut out of new markets. The reasons for the turmoil are numerous: a sputtering economy, increased global competition, the implementation of new technologies that displace jobs, the deregulation of certain industries, and the general consolidation of other industries, such as banking and health care. Observers will see a continuing progression in the ruinous steps which have forced the industry into a socio-politico-economic corner. The industry is likewise linked closely to the policies of governments, the earnings of banks. The industry’s approach to dealing with political institutions has not always been brilliant. It tends to be good on technical issues, although it has not always fully presented the longer-term options, in order to make the choices and their implications clear.…

    • 4520 Words
    • 19 Pages
    Powerful Essays
  • Good Essays

    Refan Company Success

    • 649 Words
    • 3 Pages

    Refan Company was founded in Bulgaria in the early 90’s as a family business. At first it operates in the area of imported perfumes and cosmetics. Later on the company develops a production of perfumes, bath products, cosmetics and natural soaps through its own development links they manage to build. In the next years the company places very well on the Bulgarian market making itself the largest producer of perfumes and natural cosmetics. Company expands internationally with his own trademark “Refan”.Today the company chose to expand again their international market in Slovakia. You can’t just step in to a new market . There are of course some researches that needs to be done. Now there are already certain brands about cosmetics and perfumes operating in Slovakia but they are not quite actually following “Refan” model. The cheap price about their franchise they are offering which is a limited investment to 14 000 euros gives “Refan” the advantage to expand very fast. That is a very good idea for if you want to be self- employed or planning to run your own small chain of stores. Having in mind “Refan” offers a very wide range of products from cosmetics through natural soaps and perfumes this somehow again gives the company a very good advantage stepping into that new market. So from one side we have a franchise opportunity the company will offer and from the other side we have a very wide range of quality products which company can market alone itself on the best prices for this market. There are about 20 registered companies operating in the field of supplying or producing cosmetics or perfumes as well as beauty goods. In 2011 fragrances itself in Slovakia made a boost up to 11 % and reached 78 million euros in sales. Mass women and man fragrances are more demanded by Slovak consumers and companies already focus to meet their requirements. One good reason for “Refan” to expand just now on the Slovakian market as it offers a range of 150 fragrances.…

    • 649 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Bibliography: Aveda Corporation. (2010). Retrieved November, December 2010, from Aveda Corporation: http://www.aveda.com Econtrends. (2010). Sector Analysis; Russian Pharmaceuticals. ISI Emerging Markets. Espicom. (2010). Russia World Pharmaceutical Market Q3 2010. Espicom. Euromonitor. (2010). Country Sector Briefing; July 2010. Euromonitor. Euromonitor International. (2010). Sector Capsule: skincare market in Russia. Euromonitor International. Eurostat. (2010). Retrieved November, December 2010, from Eurostat: http://www.eurostat.com François, P. (2010). Toledo K.U. Leuven - Course Documents International Marketing. Retrieved November, December 2010, from Toledo: http://toledo.kuleuven.be Kurtz, D. L., H., F. M., & Kim, S. (2009). Contemporay Marketing. Cengage Learning. Onesource. (2010). Onesource. Retrieved November, December 2010, from http://www.onesource.com Porter, M. E. (1980). Competitive Strategy. New York: Free Press. Rosstat. (n.d.). Retrieved November, December 2010, from Information & Publishing Center: http://www.infostat.ru The Estée Lauder Companies. (2010). Retrieved November, December 2010, from The Estée Lauder Companies: www.esteelauder.com Unit, E. I. (2010). Country Monitor. Retrieved November, December 2010, from An Economist Website: http://www.eiu.com Unit, E. I. (2010). Country Risk Servic; Russia. The Economist. Unit, E. I. (2010). Industry Report. Retrieved November, December 2010, from Economist website: http://www.eiu.com Wikipedia. (2010). Retrieved November, December 2010, from http://www.wikipedia.org…

    • 13699 Words
    • 55 Pages
    Good Essays

Related Topics