A primary target market is described as a company’s main intended audience for the product they are selling. The product that Pfizer is selling is pharmacological medications that fit a certain segment of people with diseases that the company will be able to gain the most profit. In business, the producer and consumer should gain a profit from the sale of chemical to treat a disease and the consumer who finds relief from the disease. The primary target for Pfizer is both male & female, adults & children. The demographics of each of these segments incudes the financial status and social status of the customers. The primary customers in the US are middle class with incomes between $65,000 to $120,000 dollars. Most of Pfizer’s advertisements
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Pfizer makes a concerted effort to focus on people that have a close relationship to the primary target. This would include a spouse, children, mother, father, parents, grand parents, and medical health professionals like doctors & nurse practitioners. Pfizer has spent a lot of time and effort on media in order to change how they market to the end consumer. In the case of Viagra, they understood that there was a taboo about talking about personal dysfunction and the way that they marketed was to focus on education. They hired famous actors both male and female to talk about erectile dysfunction on camera. Pfizer wanted to change the perception of a dysfunction and ultimately impact the patient of both the primary person that they were marketing too and the secondary market, the partner. By focusing on education of what the “little blue pill” could do, Pfizer hit the mark and ultimately made a name for them as the first effective medicalization campaign for a pharmaceutical product (Dobrow, …show more content…
Pfizer should also reduce their cost in administrative and advertising and pump in more resources into the research and development department so that they will be able to come up with new and improved drugs. Due to the decline in blockbuster sales and new inventions within the pipeline, it would be wise to move into more personalized treatment such as cancer. Pfizer should not only rely on the "Cash Cow "products because the industry is a now facing a shift and the one size fits all approach is not valid anymore.
Pfizer should consider acquiring smaller drug companies to strengthen its portfolio since their labs are not churning out enough blockbuster products. Acquisition of new companies will also give Pfizer better distribution channels to reach out within the
Pfizer makes a concerted effort to focus on people that have a close relationship to the primary target. This would include a spouse, children, mother, father, parents, grand parents, and medical health professionals like doctors & nurse practitioners. Pfizer has spent a lot of time and effort on media in order to change how they market to the end consumer. In the case of Viagra, they understood that there was a taboo about talking about personal dysfunction and the way that they marketed was to focus on education. They hired famous actors both male and female to talk about erectile dysfunction on camera. Pfizer wanted to change the perception of a dysfunction and ultimately impact the patient of both the primary person that they were marketing too and the secondary market, the partner. By focusing on education of what the “little blue pill” could do, Pfizer hit the mark and ultimately made a name for them as the first effective medicalization campaign for a pharmaceutical product (Dobrow, …show more content…
Pfizer should also reduce their cost in administrative and advertising and pump in more resources into the research and development department so that they will be able to come up with new and improved drugs. Due to the decline in blockbuster sales and new inventions within the pipeline, it would be wise to move into more personalized treatment such as cancer. Pfizer should not only rely on the "Cash Cow "products because the industry is a now facing a shift and the one size fits all approach is not valid anymore.
Pfizer should consider acquiring smaller drug companies to strengthen its portfolio since their labs are not churning out enough blockbuster products. Acquisition of new companies will also give Pfizer better distribution channels to reach out within the