Essay: Marketing Strategy for Astrazeneca
This essay discusses some of the marketing strategies for Astrazeneca. Experts calculate the 10%of the population will have an ulcer in their lifetime.
Describe the market for gastro esophageal reflux disorder
Ulcers affected approximately 5 million Americans every year with in1 million requiring hospitalization. Experts calculate the 10%of the population will have an ulcer in their lifetime. They are estimated to cost the health care system more than $2 billion per year in direct costs and more than $500 million in indirect costs. So looking at the research it’s concluded that, there is quite a room for the pharmaceutical industry to invest in this line.
Prilosec position in market
Zantac market share dropped from 41% in 1994 to less than 5% in 1998. Concurrent with Prilosec, Tap Pharmaceuticals Prevacid won an 18 percent market share partly as a result of a BTC campaign. Today Prilosec has about 35% of the total antiulcer prescription market, ahead of Prevacid’s 20%. Yet adapting a proper strategy can enable Prilosec to regain its market position.
Potential franchise extension strategies that are open to Astrazeneca
AstraZeneca Plc is fighting a two-front battle to prolong its lucrative heartburn and ulcer franchise, using the legal system to protect top-selling Prilosec from generic competition in the United States while aggressively marketing its new drug, Nexium.
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