Analysis of an international marketing environment
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Introduction
This case analysis is designed to encourage you to conduct an analysis of an international marketing environment.
Case Assignment
Adopt the role of a marketing manager for multi-national pharmaceutical manufacturer Glaxo-Welcom. Your firm faces pressures to provide drugs for free. Assess the economic risks for the sales of your pharmaceutical goods in Colombia over the next five years and discuss how this pressure and these risks might affect the pricing of your products there.
The following will be assessed in particular:
Your demonstrated understanding of the concepts, frameworks, and issues indicated in the teaching materials.
Your ability to analyze pertinent international marketing environment issues
The criteria used for assessment will be those explained on the MOD01 Home page, namely:
Focus
Breadth
Depth
Critical thinking
Effective communication skills
Sources relevant to the case:
Johnson A, (2009, July 7). Drug Firms See Poorer Nations as Sales Cure. Wall Street Journal (Eastern Edition), p. A.1. Retrieved May 22, 2011, from ProQuest Central. (Document ID: 1778080401).
Farzad R, (2007). Extreme Investing: Inside Colombia. Businessweek.com May 28. Viewed on May 22 , 2011 at http://www.businessweek.com/magazine/content/07_22/b4036001.htm
Use the resources provided in MOD01-03 to obtain a more recent view.
Anon, (2007) Hail Colombia. Businessweek.com Jun 27. Viewed on May 22, 2011 at http://www.businessweek.com/magazine/content/07_24/b4038076.htm
Taylor B, (2004). Giveaway Drugs: Good Intentions, Bad Design. Health Affrais, 23, no. 1 (2004): 213-217. Viewed on May 22, 2011 at http://content.healthaffairs.org/cgi/content/full/23/1/213
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Solution Summary
The following posting helps analyze the international marketing environment. Concepts discussed include environment issues and teaching materials.
Solution Preview
Columbian Economy
The Columbian economy has taken a 360-degree turn from being a corrupt and unstable nation to making global headlines. This situation would impact the sales for Glaxo-Welcom's products in the Columbian market, both in the short term as well as in long-term. Glaxo-Welcom's presence in Colombia combines both more growth and less risk. The market is not volatile and the growth rate is not excessively high, but it is certain that the company would not lose money. The strategy to fuel in this low-risk environment diversifies company's traditional business model and adapt to local market opportunities.
Over the next five years, the drug sales in Colombia is expected to grow at a moderate CAGR. However, the outlook is positive for pharmaceutical market growth as the economic and political environment is quite stable. Colombia is also set to increase the drug access for the whole population under the universal insurance program (SGSSS) which would provide a further boost to the pharmaceutical industry. At the same time, the company faces risk of increased competition as the number of pharmaceutical companies opening in the market has also increased. Some of the major companies entered the Colombian market by acquiring a local company and took advantage of the knowledge and skills of the local partner to run operations in Colombia. ...
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