Pfizer Marketing Strategies

Essay by cavepilotUniversity, Master'sA+, June 2005

download word file, 4 pages 5.0

Pfizer Inc., discovers, develops, manufacturers, and markets leading prescription medicine for humans and animals and many of the world's best-known consumer brands. Their innovative, value-added products improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. The company has three business segments: health care, animal health and consumer health care. The top three worldwide pharmaceutical companies in sales are from GlaxoSmithKline, Pfizer and Merck respectively. In 2001, Pfizer increased its' market share and became the sales leader. They have continued to lead the industry since. The main reason for their tremendous growth is that their pharmaceutical products are able to improve the quality of life of their customers. Those products are Aricept, Celebux, Diflucan, Lipitor, Neurontin, Norvasc, Viagra, Zithromax, Zoloft and Zyrtec.

Research and development is vital to the success of any pharmaceutical company. Pfizer spent 7.1 billion on research and development in 2003; this is the only pharmaceutical company that is capable of investing this much.

Their future, as one company, with a single purpose and mission, is sharply defined. Pfizer Inc. wants to be the company that does more good, for more people, than any other on the planet. Innovation is critical to improving health and sustaining Pfizer's growth and profitability. They are deeply committed to meeting the needs of their customers, and we constantly focus on customer satisfaction.

Pfizer is now implementing a strategy to drive performance within the global business, building on the business model and management ethic that they applied in the United States. The most important priority is to improve sales performance through the launch of new pharmaceutical products, encourage doctors to continue to prescribe existing products, and attempt to increase consumption and enlarge the over-the-counter market. Pfizer is a strong and...