Planning And Strategy Case Study
If we discuss the problem number one that explain Merck has found 2 kind of statins and they are successfull in market, we can talk solution about marketing and the concept of planning and strategy. At the time particularly Mevacor and Zocor hit the market, Lipitor just syinthesized by Warner-Lambert and it was still done animal testing or in the other words Lipitor is still developed become great statin in the world. To give alternative solution for the problem number one, Lipitor should understand about concept of planning and strategy and arrange suitable planning and strategy with the condition nowadays. Because the Lipitor still beginner.
Starting a new business is not an easy matter, challenges and market competition, also affect the …show more content…
This strategy is especially suitable for the fast-growing industry that requires huge resources and the prospect of large profits. Companies can also diversified to several other businesses such as Rockwell International (on opening case) who developed the electronics and automotive components …show more content…
When to compete; that is, it requires timing of market entry (for example, being first in the market or waiting until primary demand is established).
The following picture is the key elements of marketing strategy formulation.
Based on the consept of marketing and strategy above, Thus, i can conclude the alternative solutions to solve the problem number 1 of Lipitor. Here, i create two alternative solutions, they are :
1. TheWarner Lambert should merge or work together with Pfizer.
2. Test still secret product against statins already on the market
The Warner Lambert understand that the Merk (main competitor in statin product) has big strength and they know it is on to something big. But to play catch up in the market, it also knew it would need extra marketing muscle. Pfizer then the no.5 drugmaker is known for its sales and marketing prowess and have no statin of its own. The advantages of alternative solution number 1 arethe Lipitor has biger strength, the market reach is larger and the strategies are complete, while the disadvantages are difficult to unit strategies and it is needed to make sure the market once again that there is new merger and adequate to compete the
Starting a new business is not an easy matter, challenges and market competition, also affect the …show more content…
This strategy is especially suitable for the fast-growing industry that requires huge resources and the prospect of large profits. Companies can also diversified to several other businesses such as Rockwell International (on opening case) who developed the electronics and automotive components …show more content…
When to compete; that is, it requires timing of market entry (for example, being first in the market or waiting until primary demand is established).
The following picture is the key elements of marketing strategy formulation.
Based on the consept of marketing and strategy above, Thus, i can conclude the alternative solutions to solve the problem number 1 of Lipitor. Here, i create two alternative solutions, they are :
1. TheWarner Lambert should merge or work together with Pfizer.
2. Test still secret product against statins already on the market
The Warner Lambert understand that the Merk (main competitor in statin product) has big strength and they know it is on to something big. But to play catch up in the market, it also knew it would need extra marketing muscle. Pfizer then the no.5 drugmaker is known for its sales and marketing prowess and have no statin of its own. The advantages of alternative solution number 1 arethe Lipitor has biger strength, the market reach is larger and the strategies are complete, while the disadvantages are difficult to unit strategies and it is needed to make sure the market once again that there is new merger and adequate to compete the