2. TOPICS COVERED
• Introduction about the Pfizer Company
• 7p’s of the Pfizer Company
• Micro & Macro factors affecting the Pfizer Company
3. INTRODUCTION ABOUT THE PFIZER
COMPANY
At Pfizer, we apply science and our global resources to bring
therapies to people that extend and significantly improve their
lives. We strive to set the standard for quality, safety, and value
in the discovery, development, and manufacture of health care
products. Our global portfolio includes medicines and vaccines
as well as many of the world's best-known consumer health
care products. Every day, Pfizer colleagues work across
developed and emerging markets to advance wellness,
prevention, treatments, and cures that challenge the most
feared diseases of our time. Consistent with our responsibility
as one of the world's premier innovative biopharmaceutical
companies, we collaborate with health care providers,
governments, and local communities to support and expand
access to reliable, affordable health care around the world. For
4. 7P’S OF THE PFIZER COMPANY
Place
Product
Price
People
Physical
Evidence
Promotion
Process
5. 7P’S IN DETAIL
The 7Ps of marketing, also known as the marketing mix, provide a
comprehensive framework for analyzing and strategizing marketing
activities. Let's apply the 7Ps to Pfizer Inc.:
1. Product:
- Pfizer offers a diverse range of pharmaceutical products, including
prescription drugs, vaccines, and over-the-counter medications.
- The product line spans various therapeutic areas, catering to the
healthcare needs of a global and diverse population.
2. Price:
- Pricing strategies for Pfizer's products are influenced by factors such
as R&D costs, market competition, and healthcare policies.
- The company may employ tiered pricing models and negotiate pricing
with healthcare providers and governments.
6. 3. Place:
- Pfizer has a global presence, distributing its products in over 180
countries.
- Distribution channels include pharmacies, hospitals, clinics, and
partnerships with healthcare providers and distributors.
4. Promotion:
- Pfizer engages in robust promotional activities to reach
healthcare professionals, patients, and consumers.
- Marketing efforts involve advertising, educational campaigns,
participation in medical conferences, and digital marketing.
5. People:
- Pfizer's workforce plays a crucial role in delivering quality
healthcare solutions. This includes scientists, researchers, sales
representatives, and customer support personnel.
- The company places a strong emphasis on talent development
and maintaining a skilled and diverse workforce.
7. 6. Process:
- The pharmaceutical development process involves extensive
research, clinical trials, regulatory approvals, and manufacturing.
- Pfizer adheres to rigorous processes to ensure the safety,
efficacy, and quality of its pharmaceutical products.
7. Physical Evidence:
- The physical evidence in Pfizer's context includes packaging,
labeling, and the overall presentation of its pharmaceutical products.
- The company ensures that its products are packaged securely,
with clear instructions and information for healthcare professionals
and patients.
8. MICRO FACTORS AFFECTING THE
COMPANY
Market
Demand
Competitive
Landscape
Regulatory
Environment
Research &
Development
Supply Chain
Consumer
Behaviour
9. 1. Market Demand:
- Consumer demand for pharmaceuticals and healthcare products
influences Pfizer's sales and revenue.
- Changing demographics and healthcare needs impact the demand
for specific medications.
2. Competitive Landscape:
- Intense competition within the pharmaceutical industry affects
Pfizer's market share and pricing strategies.
- Responses to competitor actions and innovations are critical for
maintaining a competitive edge.
3. Regulatory Environment:
- Stringent regulations governing drug development, approval, and
marketing impact Pfizer's operations.
- Compliance with evolving regulatory standards is crucial for
market access.
10. 4. Supply Chain:
- The efficiency and reliability of Pfizer's supply chain impact
product availability and cost management.
- Disruptions in the supply chain, such as raw material shortages,
can affect production.
5. Research and Development:
- Pfizer's ability to innovate and bring new drugs to market is
influenced by its investment in research and development.
- Success in clinical trials and the development pipeline affect
future revenue streams.
6. Consumer Behavior:
- Changes in consumer preferences and attitudes toward healthcare
impact Pfizer's marketing and product development strategies.
- Awareness and acceptance of generic alternatives may affect
brand loyalty.
11. MACRO FACTORS AFFECTING THE
COMPANY
Economic
Conditions
Global Health
Trends
Technological
Advances
Political &
Regulatory
Policies
Social &
Cultural
Factors
Environmental
Sustainability
12. 1. Economic Conditions:
- Economic factors, such as GDP growth and healthcare spending,
impact Pfizer's financial performance.
- Economic downturns may affect affordability and access to
healthcare products.
2. Global Health Trends:
- Global health trends, including the prevalence of diseases and
public health priorities, shape Pfizer's product portfolio.
- Pandemics and health crises can influence demand for certain
medications.
3. Technological Advances:
- Rapid technological advancements in healthcare, such as
personalized medicine and digital health solutions, impact Pfizer's
strategies.
- Embracing new technologies is crucial for staying competitive.
13. 4. Political and Regulatory Policies:
- Changes in healthcare policies, intellectual property laws, and
trade regulations impact Pfizer's market access and pricing strategies.
- Government healthcare initiatives and funding influence market
dynamics
5. Social and Cultural Factors:
- Cultural attitudes toward healthcare, lifestyle changes, and health
awareness impact Pfizer's marketing and product positioning.
- Social perceptions of pharmaceuticals and healthcare influence
public trust
6. Environmental Sustainability:
- Increasing emphasis on environmental sustainability influences
Pfizer's manufacturing practices and supply chain decisions.
- Aligning with eco-friendly initiatives may enhance the company's
corporate image.