Marketing Strategies Adopted by Generic and Original Drugs Manufacturing Companies in An Effort to Attain Strategic Competitiveness: A Study of Mombasa
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Date
2013-06
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Publisher
Daystar University, School of Business and Economics
Abstract
The purpose of the study was to identify the marketing strategies adopted by original and generic drug manufacturing companies in effort to attain competitive advantage among pharmaceutical companies based in Mombasa. The objectives of the study were to identify the marketing strategies adopted by original and generic drug manufacturing companies, assess the effect marketing strategies had on the competitive advantage of both generic and original drug manufacturing companies, establish the similarities or differences in marketing strategies adopted by the two pharmaceutical industries and establish strategies effectiveness in influencing the doctors decisions in selecting or recommending drugs to customers. This was a descriptive as well as a causal study that targeted on medical representatives as well as the managers in original and generic pharmaceutical companies. The study used a census approach to select 72 respondents for the study. Questionnaires were used in data collection, which were analyzed using the Statistical Package for Social Sciences (SPSS) version 20. Findings revealed that 94% of the pharmaceutical companies had clear marketing strategies and they were clearer with original companies than generic companies. In addition both companies used the same marketing strategies but the extent to which they were applied differed significantly. It was also notable that innovation and brand loyalty strategy in the pharmaceutical companies were critical in the long-term growth of the firm.
The study concluded that both the original and generic drug manufacturing companies’ used a variety of marketing strategies to enhance their competitive advantage. Most of the marketing strategies were similar but their applications across the two pharmaceutical industries differed significantly. The study recommended that pharmaceutical companies must formulate the right strategies to gain competitive edge, they should also be innovative to remain market leaders in the industry.
Description
MASTERS IN BUSINESS ADMINISTRATION in Strategic Management
Keywords
marketing strategies, generic drug manufacturing companies, competitive advantage
Citation
Mueni, M. I. (2013). Marketing Strategies Adopted by Generic and Original Drugs Manufacturing Companies in An Effort to Attain Strategic Competitiveness: A Study of Mombasa. Daystar University, School of Business and Economics