SUBMITTED BYDHARMIK BHATT

148320592002

ASUMMER PROJECT PRESENTATION

ON“SWOT ANALYSIS OF

NEW PHARMACEUTICAL COMPANY”

SUBMITTED TO (Oakbrook Business School)

GUJARAT TECHNOLOGICAL UNIVERSITY(MBA PROGRAMME)

2

Content 1. Overview of Pharmaceutical Industries2. Overview WellCare LifeScience3. Literature Review 4. Problem Statement5. Research Topic SWOT Analysis of New Pharmaceutical Company6. Research Objective7. Research Methodology8. Data Analysis And Interpretation (Doctors9. Data Analysis And Interpretation ( R&W)10. Finding11. Conclusion12. Suggestion and Recommendation13. Bibliography and Reference

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Overview of Pharmaceutical Industries

In ancient India the sources of drugs were of vegetable, animal and mineral origin. With standard process allopathic drug are extract out from that natural source. Allopathic medicines become a popular in India by close of 19th century. Initially two pharmaceutical companies were established in India . 1901 Bengal Chemical and Pharmaceutical, at Calcutta by Acharya Prafulla

Chandra Ray. 1903 Alembic Chemical, at Vadodara by Prof. T.K. Gujjar. Pharmaceutical industries work with a standard book which called as Pharmacopeia

And I.C.M.R Each Pharmaceutical country have there own pharmacopeia . Pharmaceutical industries work under the basic two acts Drug & Cosmetic Act

1945 And Pharmacy act 1948.

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Pharmaceutical Market Condition In INDIARevenue of Indian pharmaceutical industry

Revenue share of Indian Pharmaceutical Sub segments

Export data of Indian pharma industry

Indian pharmaceutical market segments by value

• Top 3 Pharmaceutical Company of the world

Johnson & JohnsonNovartisPfizer Inc

• Top 3 Pharmaceutical Company of the INDIA

• Cipla• Dr. Reddy• Ranbaxy

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Overview WellCare LifeScience

WellCare LifeScience is small scale partnership type of company. Company was founded by Mr. Hardik Thakkar. He having knowledge of pharmacy field as well as management

He started WellCare LifeSceince in May 2014 with five type of different pharmaceutical product. After few months Miss Geeta Ganatra also join as partner. At the same time ex MD of Krushi Bank of Gujarat Mr. Harish Ganatra also join as advisory director. In Feb 2015 with the help of Mr.shyam Ganatra they start exporting.

Company having turnover is Rs. 6000000 in 2014-15 with 12 products now they have 15 products.

Mr. Thakkar’s key point of business is- earn profit via reducing distributing channel. They supply there product to Retailers and doctors not to distributor. Most preferable is to sale direct to the doctors.

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Continue… Wellcare Lifescience company doing “Job Work Out”

kind of business where they receive the order from the market and sale it with own name after getting the product from manufacturer..

Wellcare Lifescience have 15 products with different type like- NSAID Antibiotic, Antacid, Anti ulcer, Anti Malaria. Serotonin 5-HT, Multi vitamin. Nutrients.

1 India Life Bio Science, Gandhinagar (Gujarat)2 Wallen Healthcare, SAS Nagar (Mohali)3 Fedley Healthcare, Delhi4 Athens Labs (Delhi)

5 Edwin Healthcare SAS Nagar (Mohali)6 Gujarat Pharmaceutical, Godhara (Gujarat)7 Taksh Alliance Industries, Parwanoo (Himachal Pradesh)

Manufacturers

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Literature Review

Name of Researcher (Year) Topic Conlcusion

D.K.Naurial (2015) The New IPR Regime and Indian Drug and Pharmaceutical Industry

R&D expenditure of the firm is less effective than the advertisement and marketing expenditure

Aditya Bhattacharjea and Fiyanshu Sindhwani. (2014)

Competition Issues in the Indian Pharmaceuticals Sector

Pricing is the biggest issue that they found they saw every company having different price with same content.

Kapil Kumar & DR. M. K. Kulshreshitha (2014)

SWOT analysis of Indian Pharmaceutical Industries.

Indian market is growing market

Sanjiwani Jayant Kumar (2013) Product and Brand Positioning Typologies with Respect to Pharmaceutical Companies

More competent company generates more trust in physicians mind. Trust in the company is reflected through financial performance of the company.

E. Osinga (2010) Influences of pharmaceutical marketing on the prescribing behavior of physicians

A difference is that in the United States the power of the pharmacists is more heavily regulated

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Problem Statement

Doctors generally not prefer a new pharmaceutical company products .they think that it may have quality problem, it may have service problem it may have price problem.

Retailers never wish to store new pharmaceutical company products because customers and doctor having less trust on the new company

New Company having no previous experience so no one wants to take risk for the medicinal therapy

Everyone have wrong perceptions about new companies have problem with their reliability service quality etc

Because of giant competition and numbers of companies are available so customers have more choices.

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Research Topic SWOT Analysis of New Pharmaceutical Company

• SWOT is worth noting that you should set the final objective after completing the SWOT analysis. The reason for this is to ensure that the objectives are achievable and not unrealistic given the current internal and external environments

SWOT means what?S= Strengths(Internal factor / Positive influence)What are we best at?W= Weaknesses (Internal factor / Negative influence)What are we worst at doing?O= Opportunities (External factor / Positive influence)What changes in the external environment can we exploit?T= Threats (External factors / Negative influence)What might our competitors be able to do to hurt us?

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Research Objective

Main Objective • To find the Strength, weakness, Opportunities and threat of the company and all

new pharmaceutical companies.• To find out the perception and expectation of doctors and retailers towards the

new pharmaceutical company. Sub Objectives • To find out the big player of the market (Tough Competitor).• To find the way for new pharmaceutical company from tough competition. • To create strategy for company with the help of research detail.• To analyze Vadodara market for company.• To create good communication bridge between new company to doctors and

retailers, that full feel all require expectation of both.

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Research Methodology

Research Design “Our research is on pharmaceutical industries that how new company can expand

business in tough competition which are the harmful and helpful things” “SWOT analysis is one type of Applied Research where we have to find out the

Strength, Weakness, opportunities and Threat via knowing the doctors and retailer perceptions and reactions towards new pharmaceutical company”.

“From the SWOT analysis we can know what are the real problem that face new pharmaceutical company and get the bulk information about the market condition for new pharmaceutical company so my research is Descriptive Research “.

“Here in my research I have to know perceptions and expectation it means I have to know the attitude of doctors and retailers so my research with questionnaire is of structured Research”.

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Continue…Designing the sample 1 The Sample- Doctors and Retailers & wholesalers 2 Sample Size- Total 100 Sample

Doctors – 60Retailers & Wholesalers – 40

3 Sampling “I used probability and non probability sampling both”.

Non Random Sampling for Doctors Quota sample - MBBS, Specialist (Eye, Ear, Nose) Neurologist, Orthopedic, Pediatric, Dentists Random Sampling Simple random sampling - All different type of doctors are sample out randomly

“All retailers & Wholesalers are sample out according to the particular doctor connection and within doctors rang”.

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Continue….Method of Data collection

• Here for the research I used primary and secondary both data collection

Methods for Primary Data CollectionI use Survey method for my research . - For my research I prepare one questionnaire as per my research

objective so my survey is “structured survey”.- I used both type of research question in my questionnaire in structured survey. Like open ended and close ended

Secondary data are collected from books, from official websites, literatures etc

Contact method I used Personal Interview for my questionnaire

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Research Limitation

From the entire population research is only on 60 doctors and 40 Retailers with wholesalers which is less sample size.

Here in our research target audience is only of Vadodara’s doctors retailers and wholesalers, there may variation in result with other cities.

Research is basically don with some perception of the both the hand means of researcher and target audience both.

Respondent’s reluctance to answer questions asked by unknown interviewers about things they consider private. Busy people may not want to take the time.

May try to help by giving pleasant answers May answer in order to look smart or well informed.

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Research Signification

Marketing and operation Strategy creation become easy with the help of research data.

We can get the perception and expectation of the doctors and retailers from New pharmaceutical company.

We can get the helpful and harmful attribute for new pharmaceutical company in India.

To know Pharmaceutical market of Vadodara. We can get the previous experience of new pharmaceutical company from doctor

and Retailers. We can catch the biggest threat creator player of market.

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Data Analysis And Interpretation (Doctors)

Result % Percentage

Yes 33 55

No 27 4555

45

Percentage %

Yes

NO

1 Do you prefer to use (Prescribe or dispense) a new pharmaceutical company

products?

InterpretationFrom the graph we can say easily that the 55 percent doctors are ready to prescribe or dispense new pharmaceutical products in Vadodara. There is a chance to success in Vadodara if they sale their product in Vadodara. So there is good opportunity to do business for new pharmaceutical company.

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Continue…2 If you have any experience with new pharmaceutical products, then how was it?

Interpretation• In Vadodara doctors having average experience with new pharmaceutical company

product. We can say that doctors will prefer to use a new pharmaceutical company product. So new pharmaceutical company having a opportunity to set themselves.

Result % Percentage

Excellent 0 0

Very Good 3 5

Good 20 33

Average 27 45

Bad 7 12

Very Bad 3 5

Poor 0 0

60 100

Excell

ent

Very Good

Good

Averag

eBad

Very Bad

Poor0

5

10

15

20

25

30

35

40

45

50

Percentage %

Percentage

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3 What do you like most?

Interpretation• From the above graph maximum doctor prefer to prescribe. So new

pharmaceutical company have target customers are Retailers and Wholesalers.• So for the new pharmaceutical company has to make strategy towards retailers

more, so with the recommendation of doctor and support of retailer new pharmaceutical company is working.

• Condition is like doctors recommendation and retailers attraction base business will succeed for new pharmaceutical company.

Result % Percentage

Prescribing 54 90

Dispensing 6 10

90

10

Percentage %

PrescribingDispensing

Continue…

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4 What would make you prescribe a new Company over the well settle company for

pharmaceutical products?

Interpretation • From the above graph result, it shows that to prescribe a new company product

over the well settle company the product must be economic to the patient and with good quality is require. So there is an opportunity for new company, if new pharmaceutical company product is economic to patient and good in quality then they can set their business more quickly.

Result % Percentage

Economic to Doctor 7 12

Economic to Patient 51 85

Higher Quality 36 60

Better Service 21 35

Other 2 3

12

85

60

35

3Percentage %

Economic to DoctorEconomic to Patient Higher Quality Better Service Other

Continue…

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5 What is your perception towards new pharmaceutical company?.

Interpretation • From the above graph can say that , new pharmaceutical company having several

issues from that all availability and reliability issue are the most, some of doctor also suffer with all the issues also.

• So new pharmaceutical company having biggest weaknesses are availability and reliability issues are generated.

• If new company work on it , so they can take it as opportunities also.

Result % Percentage

Quality Issue 42 70

Service Issue 30 50

Reliability Issue 42 70

Availability Issue 31 51.67

Price Issue 14 23.33

All 8 13.33Quality Issue

Service Issue

Reliability Issue

Availability Issue

Price Issue

All

0 10 20 30 40 50 60 70 80

Percentage %

Percentage

Continue…

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6 Which is the first thing you see in a product with a new Pharmaceutical company?

Interpretation• From the above analysis, it shows 51.67 percentage of doctors looking for quality

and commitment when new pharmaceutical company product came in market.• So it indicates that with good quality and with comfortable price doctor will defiantly

go with new pharmaceutical company product.

% Percentage Result

Quality & Commitment 52 31

Service & Regularity 12 7

Price 32 19

Packaging 5 3

100 60

52

12

32 5

Percentage

Quality & Commitment

Service & Regularity

Price

Packaging

Continue…

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7 As per your point of view rank the new company features. (1-6)

Rank Result1 2 3 4 5 6

Availability & Service 16 6 13 13 4 8 60Good Quality 21 20 10 4 2 3 60Product Mix 4 4 5 14 23 10 60Packaging Type 0 2 2 6 25 25 60Patient Satisfaction 16 18 16 8 2 0 60Comfortable Price 3 10 14 15 4 14 60

60 60 60 60 60 60

1 2 3 4 5 60

5

10

15

20

25

30

Availability & ServiceGood Quality Product Mix Packaging TypePatient Satisfaction Comfortable Price

Continue…

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Overall Average rank order calculation

Interpretation • From the above analysis the priority of doctors shows the

first priority is good quality for pharmaceutical product and last priority is to Packaging type

• Average rank order of priority characteristic of pharmaceutical company to doctor is

Rank

1 Good Quality

2 Patient Satisfaction

3 Availability & Service

4 Comfortable Price

5 Product Mix

6 Packaging Type

Rank

Assume priority value

1 0.4

2 0.3

3 0.15

4 0.1

5 0.05

6 0

Rank Value % Value

1 Good Quality 16.4 27

2 Patient Satisfaction 15.1 25

3 Availability & Service 11.65 20

4 Comfortable Price 8 13

5 Product Mix 6.1 10

6 Packaging Type 2.75 5

60 100

Good Quality

Patien

t Sati

sfacti

on

Availab

ility &

Servi

ce

Comfortable P

rice

Product M

ix

Packagi

ng Typ

e0

5

10

15

20

25

30

% Value

% Value

Continue…

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8 Give your special suggestion for new pharmaceutical company?

• Some of the acceptable suggestion are given bellow that help to the new pharmaceutical company to set themselves in most successive way…

Quality work is under the GMP and ISO but regularity and service is depends on company itself. Focus on Service.

R&D work push company growth more quickly. Existing are there but do something innovative.

Do complete market analysis and implement your strategy according to the most ethical way.

Do qualitative work and get the all certification of that and maintain it for a long time. Do the ethical work and get profit out of it. Do not produce same molecule products, make some combinatory molecule that

help to patient and doctor both. Packaging is most important thing, show creativity in packaging.

Continue…

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Data Analysis And Interpretation ( R&W)

1 Would you like to try working with a new pharmaceutical Company

Interpretation • From the graph we can easily say that retailers and wholesalers like to work with

new pharmaceutical company.• So as per the survey it indicate that new pharmaceutical company having good

opportunity to set themselves in this positive looking market, where consumers are ready to join.

Answer % Percentage

Yes 29 72.5

No 11 27.5

40 100

72.5

27.5

Percentage

Yes No

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2 Which is the first thing you see in a product with a new pharmaceutical company?

Interpretation• From the graph its shows that everything is more or less equal so everything is the

first look of product by the retailers but the most viewer look for the API content that product have is the first thing when the new pharmaceutical company product in retailers hand.

• So from the result we can say new company has to work on all then and only then new company make there image well in market.

Result % Percentage

API Content 12 30

Price 10 25

Availability 8 20

Therapeutic Use 7 17.5

Packaging 3 7.5

40 100

30

25

20

17.5

7.5

Percentage

API Content

Price

Availability

Therapeutical Use

Packaging

Continue…

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3 What would make you prefer a new Company over the well settle company for

pharmaceutical products?

Interpretation • From graph result it clearly shows that to compete the well settle pharmaceutical

company new pharmaceutical company have to focus on competitive rate and availability & Service.

• This shows the clear way to satisfy the retailer and wholesalers requirement.

% Percentage Result

Competitive Rates 52.25 19

Packaging Type 22 8

Higher Quality 35.75 13

Availability & Service 57.75 21

Percentage

Competitive RatesPackaging TypeHigher QualityAvailability & Service

Continue…

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4 What dissatisfy you with current Pharmaceutical company products?

Interpretation• Its shows the current market is cover with the high price . Most of the retailers are

dissatisfy with the price from current pharmaceutical company products.• So we can say that with comfortable price of products retailer will defiantly attract

with new pharmaceutical company.

% Percentage Result

Price 52.5 21

Packaging type 10 4

Availability & Service 40 16

Quality 20 8

52.5

1040

20

Percentag

PricePackaging typeAvailability & ServiceQuality

Continue…

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5 Which companies Pharmaceutical Products you store in bigger quantity?

Interpretation • The biggest market is of Unison pharmaceutical company.• So it indicate that new company has to make strategy with center of unison

company as target.• So from the graph the biggest threat maker is unison pharmaceutical for new

company in Vadodara.

Company Name Result% Percentage

Exmed Pharma 3 7.5Elysium 4 10unicure 17 42.5Briyosis 2 5Sarabhai 17 42.5Manish Pharma 8 20Unison 28 70Other 6 15

7.5 10

42.5

542.5

20

70

15

Percentage

Exmed Pharma

Elysium

unicure

Briyosis

Sarabhai

Manish Pharma

Unicure

Other

Continue…

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6 As per the point of view rank the new company features. (1-6) Rank Result

1 2 3 4 5 6

Availability & Service 10 4 9 8 4 5 40Good Quality 10 17 5 3 2 3 40Product Mix 4 6 2 10 8 10 40Packaging Type 0 3 4 1 17 15 40

Patient Satisfaction 11 8 11 5 4 1 40

Comfortable Price 5 2 9 13 5 6 4040 40 40 40 40 40

Continue…

1 2 3 4 5 60

2

4

6

8

10

12

14

16

18

Availability & ServiceGood Quality Product Mix Packaging TypePatient Satisfaction Comfortable Price

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Overall average rank order Calculation

Interpretation • From the data it shows that in the medical system the

first thing is to satisfy patient with good quality and the last thing but important thing is packaging type as per the retailers & wholesalers point of view.

• So we can say that with quality product new company will get the good response.

Rank

1 Good Quality

2 Patient Satisfaction

3 Availability & Service

3 Comfortable Price

5 Product Mix

6 Packaging Type

Rank

Assume priority value

1 0.4

2 0.3

3 0.15

4 0.1

5 0.05

6 0

Rank value % Value

1 Good Quality 10.25 26

2Patient

Satisfaction 9.15 23

3Availability &

Service 7.55 19

4Comfortable

Price 5.5 14

5 Product Mix 5.1 12

6 Packaging Type 2.45 6

Good Qualit

y

Patien

t Sati

sfaction

Availab

ility &

Servi

ce

Comfortable P

rice

Product M

ix

Packagi

ng Typ

e0

5

10

15

20

25

30

% Value

% Value

Continue…

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7 Give your special suggestion for new pharmaceutical company?

• Some of the acceptable suggestions are given bellow that help to the new pharmaceutical company to set themselves in most successive way…

Pricing is the biggest issue for the all company so do pricing with respect to Patient as well as Retailer also.

Patient satisfaction is the most important thing so never compromise with the quality.

Make some product with specific characteristics that only your product has which lead you automatically in to the market.

Always be specific with your distribution channel and give the complete service. Do not offer the schemes but give the comfortable price that all can afford. Decrease our lead time with quick respond. Attracting to the patient advertisement is require so do some advertisement. Make packaging attractive and tough. Printing of the strip price , content, MFG and EXP date in bigger font size that make

easy to read.

Continue…

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1 Finding

Form Doctors 55 % of doctors are ready to make a relationship with ne pharmaceutical company. Doctors having 33% good and 45% average experience with new pharmaceutical

company. 90% doctor likes prescribing. With higher quality of product and product with greater patient satisfaction

doctors prefer a new company over the well settle pharmaceutical company. 70% of doctors having perception that new pharmaceutical company has always

issues with there quality and reliability. Quality and commitment is the first thing that doctors wants to see with a new

pharmaceutical company product. In medical system the most important thing is Patient satisfaction and quality

product as per the doctors point of view.

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From Wholesalers & retailers 72.5% retailers and wholesalers are ready to make relation with new

pharmaceutical company. API Content is the first thing for the retailers and wholesalers to see when new

pharmaceutical company product is in their hand. With a competitive rate and service retailer and wholesalers would make them to

prefer a new company over the well settle pharmaceutical company 52.5% Retailers and wholesalers are dissatisfy with there prices that companies are

offering to him. With 40% of all retailers and wholesaler are also dissatisfy with the availability &

service. With 70% of retailers having unison pharma company product stock is in bigger

quantity. In Medical system the most important thing is Product qulaity and patient

satisfaction as per the retailers and wholesalers point of view

Continue…

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Conclusion

• With better quality competitive rate and advance service new pharmaceutical company can set themselves in market with great response.

• In Vadodara there is good enough market for new pharmaceutical company to their business.

Perceptions that we found from the survey are-Quality and Reliability issues are maximum with new pharmaceutical company. Expectations that we found from survey are-Quality product with Competitive rate and better service are the expectation of there.

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SWOT Analysis New Pharmaceutical Company

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SWOT Analysis of New Company Wellcare Lifescience

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Suggestion and Recommendation

• For increasing the sales and expanding the business every one’s support is require for that several things which help to improve the business are given bellow –

With the innovative drug formulations and combinations which help the doctors and retailers to dispense and that make patient happy.

Pharmaceutical sector is on the human’s life so as per demand and shortage it must be available in the market so new company should work on there availability and on reliability that makes positive marks towards the new company.

As per the retailers recommendation they want the bigger font size print on the strip and on the label. That makes comfortable visualize print.

For increasing sale company should tray with arraigning free camp for patient with doctors. Means doing promotions for the company products.

Now a days user are attracting more towards the advertisement promotions and internet or online help center so company can go with this kind of tools that increase user’s awareness towards the company.

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Bibliography and Reference

BooksNaval Bajpai, (2012). 1st Edition. Research Methodology, Dorling Kindersley (India) Pvt. Ltd. Philip Kotler (2014). 15th Edition. Marketing Management, Dorling Kindersley (India) Pvt. Ltd. Ken Black(2009). 5th Edition. Business Statistics, Wiley India Pvt. Ltd.(India) . (Calculation of hypothesis) Reference Kyoung Kim Yee, Lee Keun, Park Walter G and Choo Kineung found thatappropriate intellectual property protection and economic

growth in countries at different levels of development, According to Schuiling and Moss (2004), 2013 Society of Interdisciplinary Business Research E. Osinga from Tilburg Universityin in 2010 measure Influences of pharmaceutical marketing on the prescribing behavior of physicians

in the United States and in the Netherlands Aikin, K. J., Swasy, J. L., & Braman, A. C. (2004). Patient and physician attitudes and behaviors associated with DTC promotion of

prescription drugs. Aditya Bhattacharjea and Fiyanshu Sindhwani. (2014) research on“Competition Issues in the Indian Pharmaceuticals Sector “

Websiteshttp://www.wellcareworld.com/wp/ http://www.drugs.comhttp://www.ibef.org/industry/pharmaceutical-india/showcase http://www.forbes.com/sites/liyanchen/2015/06/04/2015-global-2000-the-worlds-largest-drug-and-biotech-companies/ 67http://www.newagepublishers.com/samplechapter/000896.pdf http://www.ihmgwalior.net/pdf/research_methodology.pdfhttp://www.medicinenet,comhttp://apps.who.int/iris/bitstream/10665/93142/1/EML_18_eng.pdf?ua=1

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