AN Interim Report ON: Innovation In The Marketing Strategies Adopted By The Pharma Organization

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AJANTA PHARMA LTD

Ajan Ajanta ta Phar Pharma ma Ltd. Ltd. (APL (APL), ), one one of the the leadi leading ng pharmaceutic pharmaceutical al companies companies from India. India. Formed in 1973, with the philosophy of "Enterprism",wh ,where they believ ieve in creating opportunity and optimizing them. Engaged in the production of pharmaceutical products we are a strong team of 1000 1000 empl employ oyee eess bu buil ildi ding ng this this Indi Indian an Mu Mult ltii Nati Nation onal al Company with a vast global presence. Ajanta has consolidated its position in the field of global medicinal system by investing in a fully integrated State-Of-The-Art Resear Research ch and Develop Developmen mentt Centre. Centre. The succ su cces esss of this this R & D centre can be gauged by the achi achiev eveme ement nt of a global natura rall global patent patent for CAROFIT a natu product, Beta carotenes. Its manifold success can also be seen in the form of another launch called Livoplus, which is









ACKNOWLEDGEMENT

I here by take this opportunity to thank all those people those people including my friends and colleagues who have helped me for the successful completion of this project. I express my gratitude to my entire Faculty for the continuous support and guidance they have rendered for the successful completion of this project. I express my gratitude towards my parents for their encouraging support, incandescent sprit and endurance towards the making of this project. In the end, special thanks to all members who are directly or indirectly associated with the project.











DECLARATION I here hereby by decl declar aree that that the the proj projec ectt enti entitl tled ed “Innova Innovatio tion n in Marketing

strategies

adopted

by

The

Pharma

organizations” submitted to the ICFAI University in partial

fulfillment

for

the

award

of

Master

of

Business

Administration Degree, is a record of the original work done by me me under under the supe supervi rvisio sion n and and guida guidance nce of of

, faculty faculty of

M.E., and that has not previously formed the basis for the awar award d of any any degr degree ee,, dipl diplom oma, a, fell fellow owsh ship ip or any any othe otherr similar title. Place : Date : Signature of the Candidate











INDEX

1.

ACKNOWLEDGEMENT

2.

DECLARATION

3.

SUMMARY

4.

INTRODUCTION • • • •

MANKIND PHARMACEUTICALS IPCA LABS LTD SUN PHARMACEUTICALS PHARMACEUTICALS AJANTA PHARMA LTD

5. PHARMA MARKETING PROCESS & ITS CHALLENGES 6. PHARMA COMPANY BUSINESS STRATGEIES 7. MARKETING APPROACHES OF SUPER CORE MODEL 8. MARK MARKET ETIN ING G APP APPRO ROAC ACHE HES S OF OF COR CORE E MOD MODEL EL 9. QUESTIONAIRE











SUMMARY The aim of marketers is to identify and satisfy customer needs and wants profitably. Marketing envi enviro ronm nmen entt toda today y is dyna dynami micc maki making ng it esse essent ntia ials ls for for mark markete eters rs to adap adaptt quick quickly ly.. Comp Compan anie iess need need to deve develo lop p strategies that will help them proactively respond to market opportunities faster than the competitors. The current market scena enario requires ires a competi etitor tor foc focused approach so innova innovatio tion n in market marketing ing strateg strategies ies is nece necess ssar ary y to have have competitive edge on the competitors. A company that can develop innovative, effective and efficient competitive marketing strategies will always succeed in handling the competition to its advantage. The sector which I have chosen for research is Pharma Sector which is one of the largest sectors in this world and plays very essential role in GDP of any country. With the increase comp competi etitio tion n Phar Pharma maceu ceutic tical al mark markete eters rs tryi trying ng to compet competee with their innovative ideas apart from traditional approach. The global pharmaceutical environment is becoming increasingly competitive with narrower margins and the increasing cost of drug discovery impacting heavily on growth rates. In such an environment it is essential to opti op tim mize ize the the sale saless of each each drug drug,, thus thus phar pharma mace ceut utic ical al marketing is playing an increasingly important role in the indu indust stry ry Howe Howev ver phar pharma mace ceut utic ical al mark market etin ing g is als also

AN Interim Report ON: Innovation In The Marketing Strategies Adopted By The Pharma Organization

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