Macro environmental factors involved in pharma industry
MACRO ENIVIRONMENTAL FACTORS IN
Principles of Marketing
Subject Undertaken By – Prof. Kishore Babu Sir
Presentation By – Sk. Md. Irrfan
Ist Year , Synergy School Of Business
DEFINING AN INDUSTRY
• A group of companies offering products or services that are
close substitutes for each other and that satisfy the same
basic customer needs
• Industry boundaries may change as customer needs evolve
and technology changes
• A group of closely related industries (drug industry
(health- sector ))
• Market Segments
• Distinct groups of customers within an industry
• Can be differentiated from each other with distinct attributes
and specific demands (Bulk and generic drug companies)
MACRO ENVIRONAMENTAL FACTORS
FACTORS PLAY A MAJOR
The pharmaceutical industry in India is among the most
highly organized sectors.
Due to the presence of low cost manufacturing facilities,
educated and skilled manpower and cheap labor force among
others, the industry is set to scale new heights in the fields of
production, development, manufacturing and research
Considering a major factor in pharma industry, this factor plays a major role.
Based on age, gender, the drugs are differenciated.
** Socio-cultural does not plays any role in this industry, because of the reason
that each and every person has to buy the same drug.
Though political factor also plays a role in pharma sector.
In India, the ministry of health holds the decision
** Free medicines to poor
** Free medcines to pregnant women
** Economic factor does play a minor role among the factors.
LEGAL FACTORS AND TECNOLOGICAL
Registration of companies by government of india according to rules and regulations.
working of labour , health and safety concerns, drugs and cosmetic act.
IPR , Narcotic Act.
Where pharmaceutics have been shown to cause side-effects, civil action has
occurred, especially in countries where tort payouts are likely to be large. The top 20
pharmaceutical cases account for over $16 billion in recoveries. Due to high-profile
cases leading to large compensations, most pharmaceutical companies endorse tort
reform. Recent controversies have involved Vioxx andSSRI antidepressants.
Tecnological factor : micro encapsulation, pill cam etc.,
• Factors play a major role in understanding the environment and its working.
• A complete overview from time to time will help in incur of more profits and