THE IMPACT OF PROMOTION ON CONSUMER PATRONAGE OF PHARMACEUTICAL COMPANIES
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THE IMPACT OF PROMOTION ON CONSUMER PATRONAGE OF PHARMACEUTICAL COMPANIES
Chapter one
INTRODUCTION
Consumers have various motivations, tastes, and preferences. They are always seeking answers to the various states of deprivation (needs) through commercial offerings and a barrage of promotional messaging.
The consumer’s perspective of his requirements and desired answers, as influenced by his socioeconomic and cultural background, will decide how he reacts to one or more of the promotional variables.
The problem of marketing/promotion is to forecast present and future consumer requirements and prefer appropriate solutions to them. Accurate forecast of consumer factors ensures consumer preference/patronage for one’s brand over competitors.
This study thus seeks to establish the impact of promotion on consumer patronage by employing Gabbey Pharmacy Limited, a pharmaceutical marketing company, as a case study.
1.1 A Brief History of the Company.
Gabbey Pharmacy Limited is a pharmaceutical marketing company headquartered at 8 Awkunanaw Street, Achara Layout, Enugu. The firm was founded in 1972.
The company was fortunate to have supportive customers and dedicated employees, which enabled it to efficiently manage both internal and external issues. It wasn’t long before the industry realised a formidable challenger had emerged.
It was unsurprising that five years later, on January 3, 2000, the co-marketing agreement broke down, leaving Gabbey Pharma Ltd with the option of quickly introducing and entrenching other brands.
It was thus a nerve-racking moment when, on January 4, 2001, the corporation took the bull by the horns and unveiled a portfolio of new items.
Critics believed that the corporation had taken a suicide pill and anxiously awaited the expected outcome. It never did. The personnel, management, and corporate customers banded together and made a simple promise. The company must succeed.
The dynamic and lean sales and marketing staff was tasked with developing the essential marketing strategy to secure the new goods’ rapid adoption. Following a series of meetings with its ever-supportive consumers, the department pioneered Nigeria’s motorbike sales reps plan.
The key is to properly cover the grassroots, reach areas not covered by competitors, and produce the required demand-pull. Communication between the company and the client was improved,
and the company responded quickly to changing market conditions. This ensured the grassroots execution of consumer-oriented marketing campaigns.
By the middle of the year, it was clear that the corporation had survived the “suicide pill,” earning a high level of respect from other significant players in the industry.
Today, the organisation is a top pharmaceutical marketing firm in Nigeria.
Some of the products it sells include:-
1) Septirn; 12) Brinderin.
2) Actified; 13) Tramal.
3) Banocide. 14) Imodium.
4) Daraprim 15) Normoritc.
5) Linctified P. 16) Halfar 100mg.
6) Linctifed P (17) Cenocide
7) Repler, 18) Smifed
8) Fevokine, 19) Primpex.
9) Calpol, 20) Novalor
10) Antepar; 21) Tussirex P
11) Zinate, 22) Metaprim
Other products include tacorage (flavoured vitamin C), chotrimax lotion, deep head, and woodward gripe water.
Sales and Marketing Structure
Gibbey Pharmacy Limited
GM (Sales & Marketing)
1) National Sales Manager (Technology Promotion Manager).
2) Area sales manager (Medical Representatives).
Sales Representatives (6)
The lean and flexible structure enables the department to respond quickly to changes in the marketing environment.
1.2 Statement of the Problem
Consumers have various reasons, tastes, and preferences. They are continually looking for solutions to the various stages of deprivation (needs).
And as they do so, they are guided or influenced by many decisions, both internal and external. Internally, consumers are impacted by their beliefs. External influences include their socioeconomic and cultural background, as well as commercial messaging.
while a result, this work is systematically aimed at determining the impact of promotional efforts for product offerings on a consumer while he makes purchasing decisions.
That is, the effect of promotion on customer demand.
1.3 Objectives of the Study
This research attempts to
– Emphasise the significance of consumer patronage and the need to track it.
– And respond appropriately to changes in client motivation, taste, and preference.
– Relate customer patronage to brand preferences.
– To emphasise the importance of articulating promotional tactics based on consumers’ uncovered and anticipated demands.
– Emphasise the importance of taking consumers’ socioeconomic and cultural backgrounds into account when developing promotional methods to influence their purchasing decisions.
– Determine the relative importance of promotional mix elements in various pharmaceutical purchasing processes and product life cycle stages.
– Emphasise the necessity of encouraging consumer suggestions/criticisms as a technique of identifying consumer desires and thoughts and customising promotional strategies accordingly.
1.4 Hypothesis Research.
The following hypotheses were proposed to help guide the investigation.
Ho: Gabbey Pharmacy’s promotional tactics do not result in consumer purchases of their products.
Hi: Gabbey Pharmacy’s promotional initiatives increase consumer demand for their goods.
Ho: Gabbey does not promote their products.
Hello: Gabbey raises awareness of their products.
Ho: Gabbey Pharmacy’s promotional activities have a negative impact on the company’s profits.
Hello: Gabbey Pharmacy’s promotional activities have a favourable impact on the company’s profits.
1.5 Significance of the Study
In every organisation, there is a need to plan sales promotions and the influence that these promotions have on sales and profits. This can be accomplished through unique and inventive marketing strategies.
This research will be critical for Gabbey Pharmacy Limited Enugu as a cooperative body, salespeople, customers, marketing practitioners, and the economy as a whole.
1) Corporate body: The organization’s continuous existence is dependent on its ability to offer consumers with the necessary goods and services while also remaining profitable.
Corporate bodies include Gabbey Pharmacy Limited in Enugu. Cannot afford to stay in business if sales promotion methods are not carefully designed. The researcher believes that this project will serve as a reference for developing and implementing sales promotion techniques.
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