ASSESSMENT OF MARKETING STRATEGY PRACTICE: IN THE CASE OF ETHIOPIAN PHARMACEUTICALS MANUFACTURING SHARE COMPANY

Abstract

In order to keep up with the competition and changing consumer needs and wants in the competitive business environment, pharmaceutical manufacturing company need to use effective marketing strategies in managing business. Changing consumer needs and business environment has necessitated pharmaceutical manufacturing company to adopt marketing strategies to gain competitive edge hence attracting and retaining customers. This study focused on assessing the marketing strategy practices of the Ethiopian pharmaceuticals manufacturing Share Company with respect to marketing mixes (Product, Pricing, Promotion, and Place (distribution)) strategy that constitute for marketing strategy practices. The study used descriptive method of research design and both primary and secondary data collection instruments were used. To collect the data, the target population of the study was the marketing department manager and marketing department senior staff of Ethiopian pharmaceuticals manufacturing Share Company and customers of the company. Thirty questionnaires were distributed to the EPHARM customers which are wholesales and pharmacies. In addition to this interview questions were made with the marketing manager and senior employee those who are in the marketing department. The study found that the company has exploited 4P’s marketing mix elements such as product, price, place and promotion. EPHARM products are not available frequently and didn’t address the demand in the market. The study also revealed that Company provides quality of products and the quality of products are the main reason for customer’s preference to EPHARM products. The response from the Customers showed that EPHARM products are expensive and customers are not satisfying the overall company pricing strategies. The study was found out EPHARM products have ineffective on product packaging attributes. The Major challenges with respect to marketing mix are: intensive competition, Company week promotional activities, and less volume of production compared to the market demand., The Study recommends, constantly strength the sub elements of each marketing mix successfully to compete with its competitors and to offer the greatest value to its customers.