A pharmaceutical company functioning in France for the last 10 years has moderate sales in a crowded market with competitors offering drugs with similar efficacy and safety precautions,but with better sales.The greatest challenge is to increase the prescription of their drugs.What would be the MOST effective strategy to improve sales performance in the existing market?
A) Modifying marketing communication to increase brand familiarity within key physician segments
B) Relocating all the existing drug manufacturing facilities to developing countries to reduce operational costs
C) Employing hiring plans that aim at acquiring drug designers from rival companies
D) Exiting the market and entering a new unexplored geographical location
E) Engaging in new contract talks with suppliers about price breaks

Question

Quizplus · Accepted Answer

Modifying marketing communication to increase brand familiarity within key physician segments would likely be the most effective strategy to improve sales performance in this situation. The fact that competitors are offering similar drugs with better sales suggests that the problem may lie with brand awareness and positioning, rather than the drugs themselves. By targeting specific physician segments with tailored marketing messages, the company could increase awareness and boost prescription rates. Relocating manufacturing facilities, hiring drug designers from rival companies, exiting the market, or engaging in new contracts with suppliers may have some benefits, but they are unlikely to address the core issue of low prescription rates.

A Pharmaceutical Company Functioning in France for the Last 10