Rexall Drug Store and Sephora Company will be two target companies that Zantac will have sights on because of their purchasing power and their proximity to the headquarters (note that this will be meaningful in bringing down the cost of sales). Presently Zantac sells to on the spot customers that buy over the counter drugs in the company's stores and naturally these do not bring in enough sales. The company is in need of striking deals with the bigwigs in the pharmaceutical industry. Rexall Drug Store and Sephora Company among other well-established companies will provide Zantac with a market that is ready to purchase on a large scale and offer the company a ready market.
Zantac is a relatively new company that is looking to make a name for itself in the pharmaceutical industry through quality and convenience in pricing. The firm is looking to start both a generic line, particular brand line of products and a herbal line of products that will take the market by storm. Market research will be conducted by Zantac marketing department to find out what existing and prospective customers preferences on matters of drugs. Later on, product development will be conducted to make sure that there is an alignment to the wants and preferences of consumers (Smith, 2014).
Zantac Drugs looks to define itself using a product line and to use a service line. A product line will be defined by high-quality drugs, and a service line will be defined by proper sales and delivery service. As such, concerning the diverse needs and preference of customers, pharmacies, and hospitals at large, Zantac will offer the types of drugs, and these include hallucinogens, anabolic steroids, prescription drugs, uploads and morphine derivatives, depressants, cannabinoids, inhalants, and stimulants among others. Services, on the other hand, will revolve around delivering at the door step of customers for a little charge.
The financial approach that will be taken by Zantac will revolve around the division of proceeds to cater for capital reserves, technology, and research on generic drugs. In other words, the company will sacrifice much earlier on capital gains that it would have earned today just to earn more capital gains and to become an industrial and household name shortly. The approach taken by Zantac is not one embraced by many firms in the industry and is bound to be challenging from time to time, but the long range benefits will be priceless. It is the conviction of all the executives at Zantac that there will be no challenges in liquidity (David, Wolfender, & Dias, 2015).
Unique Selling Proposition
Zantac Drugs will offer its existing and prospective customers both generic and specific drugs. Generic drugs that will be on sale will be characterized by no brand name and will not be protected by registered trademarks. On the flip side, the company will be described by a brand that will be called by the company's name. Most importantly, the unique selling proposition that the firm will use in its operations is its ability to customize the orders that clients will be given to make. All batches of drugs manufactured and stored in company warehouses will either be meant for specific regular clients and will also be at the disposition of other prospective customers.
Smith, M. C. (2014). Principles of pharmaceutical marketing. Routledge.
David, B., Wolfender, J. L., & Dias, D. A. (2015). The pharmaceutical industry and natural products: historical status and new trends. Phytochemistry Reviews, 14(2), 299-315.
If you are the original author of this essay and no longer wish to have it published on the collegeessaywriter.net website, please click below to request its removal:
- Research Paper Sample: Financial Reporting and Analysis of Sherwin William Company
- Significant Roles of Human Resource - Essay Example
- Costco Wholesale: Balanced Scorecard Module. Essay Example
- Proposal of a New Division for the Coca-Cola Company. Essay Example.
- Financial Statement of Cash Flows Report of TOYS R US
- Case Study Example on Walmart's Success
- Business Essay: Hidden Corporate or Business Values vs Business Analysis