The project Report

On
Marketing Mix Practices
Of
Beximco Pharmaceuticals Limited
 National University of Bangladesh
PROJECT REPORT
OF
Marketing Mix Practices
Of
Beximco Pharmaceuticals Limited

Submitted To
Name:
Designation:
Department of Business Administration
Supervised By
Name:
Designation:
Department of Business Administration
Submitted By
SAHAJALAL SARKER
NU Roll:
Registration No:
Session: 2014 - 2015
MAJOR IN MARKETING
Department Of Business Administration
Date of Submission: 15/09/2019

UTTARA INSTITUTE OF BUSINESS AND TECHNOLOGY

(Affiliated with National university Of Bangladesh)
LETTER OF TRANSMITAL

Date: 15/09/2019
The Controller of Examination
National University,
Gazipur, Bangladesh
Subject: Submission of “project Report on Marketing Mix Practices of Beximco
Pharmaceuticals Limited”

Dear Sir,
I have prepared my project report titled “Marketing Mix Practices” of “Beximco
Pharmaceuticals Limited “under your kind supervision as a requirement of completing the
Bachelor of Business Administration program. I have tried my best to prepare the report in
consistence with the optimal standard under your valuable supervision.
I have made every effort to reveal greater insight in this report. I hope that this report will
Meet the standard of your judgment.
Thanking you for your kind supervision

Sincerely yours,
SAHAJALAL SARKAR
NU Roll:
Registration No:
Session: (2014-2015)
Department Of Business Administration
UTTARA INSTITUTE OF BUSINESS AND TECHNOLOGY
(Affiliated with National university Of Bangladesh)

i
STUDENT’S DECLARATION

I do hereby solemnly declare that the work presented in this project Report has been
carried out by me and has not been previously submitted to any other University/ College/
Organization for an academic certificate/degree.

I md.xxxxxxxx, , Declare that the presented project report on “Marketing Mix Practices of
Beximco Pharmaceuticals Limited” Submitted as a course requirement for Bachelor of
Business Administration at Uttara institute of business and technology was prepared by me.

The work I have presented does not breach any existing copyright and no portion of this
report is copied from any work done earlier for a degree or otherwise.

I further undertake to indemnify the damage arising from breach of the foregoing
obligations.

Student name
NU Roll:
Registration No:
Session: (2014-2015)
Department Of Business Administration
UTTARA INSTITUTE OF BUSINESS AND TECHNOLOGY
(Affiliated with National university Of Bangladesh)

ii
CERTIFICATE OF THE SUPERVISOR

This is to certify that the internship report on “Marketing Mix Practices of Beximco
Pharmaceuticals Limited “is a record of bona fide work carried out by Shihab Bin Yousuf
(ID: 103-11-221) as a partial fulfillment of the requirement of B.B.A. major in marketing,
Daffodil International University.

The report has been prepared under my guidance and is a record of the bona fide work
carried out successfully.

----------------------------

Supervisor sign
Professor of
Department Of Business Administration
UTTARA INSTITUTE OF BUSINESS AND TECHNOLOGY
(Affiliated with National university Of Bangladesh)

iii
ACKNOWLEDGEMENT
It was great pleasure to prepare project report on the marketing mix practices of BEXIMCO
PHARMA Ltd. I would like to thank and convey my gratitude to honorable supervisor,
Md xxxxx , Professor, Faculty of business administration, UTTARA INSTITUTE OF BUSINESS
AND TECHNOLOGY, for letting me to prepare this report and I would also like to express my
sincere appreciation to him for his whole hearted support and guidance.
Without his help I could not prepare my report so informative. I have bothered him so many
times in connection with my works, both during and after normal working times.

Student name
NU Roll:
Registration No:
Session: (2014-2015)
Department Of Business Administration
UTTARA INSTITUTE OF BUSINESS AND TECHNOLOGY
(Affiliated with National university Of Bangladesh)

iv
ABSTRACT

The report is divided into the following five parts- Introduction, Organization Overview,
Marketing Mix Practices of Beximco Pharmaceuticals Limited, SWOT Analysis and
Conclusion. Introduction section deals with some elementary issues regarding the
background and the process of preparing this report.
Marketing Mix Practices is major part of this report. Marketing Mix Practices include how
Beximco Pharmaceuticals Limited operates their Marketing operation in their day by day.
Next section is SWOT analysis which includes strengths, weaknesses, opportunities and
threats of the Beximco Pharmaceuticals Limited. Final section shows findings, suggests some
areas of perfection and draws a conclusion.
The marketing mix refers to the set of actions, or tactics, that a company uses to promote
its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product,
Promotion and Place. However, nowadays, the marketing mix increasingly includes several
other Ps like People, Process, and Physical environment as vital mix elements.
The tools available to a business to gain the reaction it is seeking from its target market in
relation to its marketing objectives. 7Ps – Price, Product, Promotion, Place, People, Process,
Physical environment. Traditional 7Ps extended to encompass growth of service industry
Product is the core of all marketing activities. There are two types of organizations
according their product. Some organization’s core product is goods on the other hand some
organization’s core product is service.
In the pharmaceuticals market of Bangladesh, there is not much price differentiation, in
general, among the different companies due to the highly competitive nature of the
industry. Whatever price differentiation is there, it is between the multinationals and the
national companies. It is due to the fact that the multinationals charge a premium price for
their product.

v
In the pharmaceuticals market, distribution is very important. Having made all decisions of
marketing properly, a company will not be successful if it cannot distribute its products well.
According to the physicians, square has the strongest distribution among all the companies.

Due to high competition in the industry among the different players in the market, aggressive
marketing have been adopted by the different companies. In this regard, promotion has
become a useful tool to fight competition. Moreover, promotional materials of companies
have an impact on doctor’s prescribing medicine. Therefore, different companies have set out
different promotional tools to increase market share.

People all people who directly or indirectly influence the perceived value of the product or
service, including knowledge workers, employees, management and consumers.

Process is the procedures, mechanisms and flow of activities which lead to an exchange of
value.

In today’s competitive environment, pharmaceutical companies are demanding much greater

coordination from promotional activities to physician customers. By conducting image
analysis, it can help pharmaceutical company’s better target and segment customers, select
the proper combination of marketing channels, and precisely measure the impact of
promotional programs.

The annual per capita drug consumption in Bangladesh is one of the lowest in the world.
However, the industry has been a key contributor to the Bangladesh economy since
independence. With the development of healthcare infrastructure and increase of health
awareness and the purchasing capacity of people, this industry is expected to grow at a higher
rate in future.

vi
 TABLE OF CONTENTS
CONTENT Page
No

LETTER OF TRANSMITTAL I
STUDENT DECLARATION II
CERTIFICATE OF THE SUPERVISOR III
ACKNOWLEDGEMENT IV
ABSTRACT V-VI
Chapter One: Introduction and Background of the report
1.1 Introduction of the report 2

1.2 Background of the report 2

1.3 Significance of the report 2-3

1.4 Scope of the report 3

1.5 Objectives of the report 3

1.6 Methodology 3

1.7 Limitations of the study 4

Chapter Two: Overview of Beximco Pharmaceutical Limited

2.1 Historical Background of Beximco Pharmaceuticals Limited 6

2.2 Departmentalization 6

2.3 Company Overview 6

2.4 CPM 7

2.5 Planning Department 7

2.6 Purchase Department 7

2.7 Sales Department 7-8

2.8 Training Department 8

2.9 MIS Department 9

2.10 MSD 9
2.11 Business Research & Development Department 9-10

2.12 International Marketing 10

2.13 Multimedia Department 11

2.14 Finance and Accounts Department 11

Chapter Three: Marketing Mix Practices of Beximco Pharmaceuticals Limited

3.1 Marketing Mix 13

3.2 Marketing Strategies 13

3.3 Marketing Mix Practices of Beximco Pharmaceuticals Limited 14-31

3.3.1 Products 14

3.3.1.1 Range of Products 14

3.3.1.2 Product Quality 14-15

3.3.1.3 Product Line 15

3.3.1.4 Product Decisions 15

3.3.1.5 Product Presentation 16

3.3.1.6 Introduction of New Products 16-17

3.3.1.7 Product Strategies 17

3.3.1.8 Blockbuster Products in 2014 18

3.3.1.9 Production Utilization 18

3.3.1.10 Product design and style 19

3.3.2 Price 19

3.3.2.1 Price Decisions 19

3.3.2.2 Pricing Strategies 20

3.3.2.3 Pricing strategy for new product 20

3.3.2.4 Pricing Approach 20

3.3.3 Distribution/Place 21

3.3.3.1 Distribution (Place) Decisions 21

3.3.3.2 Distribution Strategies 21-24

3.3.3.3 Routine Work of Medical Representatives 22

3.3.3.4 42 day long Induction Training Program to develop 22

3.3.3.5 Fundamental Training Program on 23

3.3.3.6 Medical Representatives 23

3.3.3.7 Channel design 23-24

3.3.4 Promotion 23-30

3.3.5 People 30

3.3.6 Process 30

3.3.7 Physical evidence 31

3.4 Transportation 31

3.5 Competitors 31

Chapter Four: Analysis and Findings

4.1 SWOT analysis of Marketing Strategies 33-35

4.2 Findings 36
Chapter Five: Recommendations and Conclusion
5.1 Recommendations 39

5.2 Conclusion 41

Bibliography
 Chapter-1

Introduction and Background of the Study

1
1.1 Introduction of the report:

The report is based on Marketing Mix Practice at Beximco Pharmaceuticals Ltd: A Review of
Marketing activities‟. The purpose of this report is to identify the drawbacks of marketing mix
strategies and possible remedies to overcome the lacking of current proceedings. Beximco
Pharmaceuticals Limited, one of the largest medicine companies in pharmaceutical industry
that has covered the maximum market share nationwide. Marketing Mix is a crucial and
strategic part of any company. A company’s ultimate profit absolutely depends on how these
elements of marketing mix are analyzed and applied. Marketing decisions generally fall into
four controllable categories: product, price, place and promotion. The ingredients in
marketing mix included product planning, pricing, branding, distribution channels, personal
selling, advertising, promotions, packaging, display, servicing, physical handling, and fact
finding and analysis. These ingredients are grouped into seven categories that today are
known as the 7P‟s of marketing,

Problem Definition:

The marketing mix framework was particularly useful in the early days of the marketing
concept when physical products represented a larger portion of the economy. Today
marketing is more integrated into organizations and with a wider variety of products and
markets, therefore it is needed to extend its usefulness by proposing a seven P, such as
physical, people, process, etc. Today however, the marketing mix framework most commonly
remains based on the 7P‟s. But sometimes there arise crucial problems due to misjudgment
and mix analysis of 7P‟s. Further there may arise problems because of the limitations of its
structure.

1.2 Background of the report:

I worked as an Intern in Beximco Pharmaceuticals Limited, for 3 consecutive months. So

according to procedure I had to submit a Report. Thus, the report covers,

“Marketing Mix Practices at Beximco Pharmaceuticals Limited”.

1.3 Significance of the report:

Knowledge and learning become perfect when it is associated with theory and practice. This
Internship Report is an important partial requirement of four year BBA graduation program.

2
As the parties; educational institution and the organization substantially benefit from such a
program, it seems a “win-win situation”. That’s why practical orientation is a positive
development in professional area. Recognizing the importance of practical experience,
Department Business Administration of DIU has introduced a three months practical
exposure as a part of the curriculum of Bachelor of Business Administration (BBA) program.
In such state of affairs the present aiming at analyzing the experience of practical orientation
related to an appraisal of Beximco Pharmaceuticals Limited.

1.4 Scope of the Report:

This report is an attempt to analyze the every Pharmaceuticals activities of the Beximco
Pharmaceuticals Limited. This study focuses on the Marketing Mix Practices at Beximco
Pharmaceuticals Limited. This report has the crisp details of the procedure of the
Marketing Mix Practices. Along with that, a relevant stream of discussion has been made on
the theory and policy issues relating to Marketing Mix Practices. I had a great opportunity
to have an in depth knowledge of all the Pharmaceuticals activities practiced by the Beximco
Pharmaceuticals Limited.

1.5Objectives of the report:

Our objective is to provide better solution related to marketing mix strategies by identifying,
analyzing and justifying the following problems:
 To identify the marketing mix framework of Beximco Pharmaceuticals Limited.

 To analyze their product strategy and measure its operation.

 To analyze their pricing strategy and measure its application.

 To analyze their distribution activities and product availability.

 To measure their promotional/ marketing strategy.

1.6 Methodology:

Primary data are collected from the key executives of the marketing department of BPL on
the basis of a structured questionnaire. This study is exploratory in nature. Two types of
samples have been selected to conduct the survey. Two sets of structured questionnaires (one
for the BPL‟s key executives and another for customers including general people and drug
retailers) containing open-end type and multiple-choice type have been made. Information
was received from 20 general people as well as drug stores located deferent areas of Dhaka
city. Personal interviews were conducted to gain more in-depth knowledge. To attain the

3
Objectives the study has been confined to the evaluation of procurement of raw materials
channel of distribution, pricing, promotion activities and consumers‟ opinion about the BPL.

1.7 Limitation:

The limitation of the report includes the following:


Lack of time: One of the major limitations of the study was limited time. The
allocation of the study was inadequate. Because in this short time one intern
student had to both attend the office. For the scarcity of time I could not
communicate largely with concern persons and authority, which would be very

 helpful for preparing, the report could be made much more comprehensive.


Administrative secrecy: Another major problem every private company
maintains some secrecy of its sales and Beximco Pharmaceuticals Limited. Was
 not expected in this regard. The authority kept much information as secrete.


Scarcity of adequate information: Scarcity of adequate information caused
hamperin report generation. Primary and secondary data wasn’t up to date to deal
 with.


Insufficient knowledge: Insufficientknowledge about Pharmaceuticals industries
 also caused hamper in the long run.


Low proficiency in report preparation: Lack of self-knowledge concerning 
 report preparation, was also a limiting factor in preparing a better report.


Improper Data: The secondary data that have been observed was in a form,
which was not helpful for this study.

4
 Chapter-2

Overview of Beximco Pharmaceutical

Limited

5
2.1 Historical Background of Beximco Pharmaceuticals Limited:

Beximco Pharmaceuticals Limited is one of the four companies strategically included in the
Beximco Chemical Division. BPL attained turnover of Tk. 2.453 billion during 2000.It all
began in 1980 when BPL‟s first product made under license of Bayer AG, Germany rolled
out of a small manufacturing plant in Tongi, Dhaka. Products made under license of Upjohn
Incorporated, USA followed. After its initial years of struggle it broke ground with the
launching of its own products in 1983. Today, BPL holds almost 15% share in the domestic
market.
The commissioning of BPL‟s Basic Chemicals Unit in 1990, established a very significant
milestone for it. It not only met 90% of the country’s demand for two vital raw materials,
ampicillin and amoxicillin but also started selling these to overseas markets, including South
Korea and Malaysia.

2.2 Departmentalization:

BPL operates its business through extensive departmentalization as needed. This is for
specified effectiveness of the tasks. The business activities of BPL, BIL and PCL are
directed, controlled and monitored from the head office of Beximco Pharmaceuticals
Limited. Located at 7A, Danmondi, Dhaka. Being a leading Pharmaceutical company in the
country it employs good number of people in different departments to keeps its business
thriving. The following major departments coordinate the activities of BPL, BIL and PCL:
 
 Central product management (CPM) department
 
 Planning department
 
 Purchase Department
 
Sales department

2.3 Company Overview:

 
 Sales education and training department
 
 Medical services department
 
 Business Research & Development department
 
 International marketing & fine chemicals department
 
 MIS department
 
Finance and Accounts department

6
2.4 CPM:

CPM stands for Central Product Management that takes care the total marketing of a product.
It includes
1. selection of new product
2. design of new product
3. design of packaging
4. Introduction of the product to the market and others

2.5 Planning Department:

The planning department ensures smoothness of total operation of BPL. It is concerned with
the following:
 The production planning and

 Raw material procurement.

 Inventory Planning
Based on sales forecast from the CPM planning department breaks up the yearly sales
forecast to monthly basis and develop the planning of production, purchase and stock
maintenance. It also initiates the negotiation of purchase. It refers the suppliers‟ quotations to
the purchase departments.
Planning department try to ensure buffer stock of three months of all the raw materials to
meet any untoward events or circumstances in market.

2.6 Purchase Department:

The purchase department is concerned with all the purchases of BPL. Apart from purchasing
it keeps the record for tracking the costs of the company. This department works in
coordination with planning department for negotiation and price fixing.

2.7 Sales Department:

To follow the recent management of the business world the sales department has been
completely separated from marketing department. It sets the forecast in coordination with
marketing department and upon fixation of the sales it is the responsibility of the sales
department to realize the yearly sales volume forecasted. The departmental works in
following pattern:

7
The departmental works in following pattern:

Director

Sales manager

Asst. sales manager (2)

Regional sales controller (10)

Field supervisor (5-8)

Medical Representative (4-5

Under each)

Medical representatives are farthest unit of the organization. They are to generate demand for
products. They are trained before sent for field.

2.8Training Department:

Training department is to provide the training to the medical representatives of the company.
This training is necessary to improve the quality of job-related function. The curriculum of
training varies from group to group. The department basically offers 4 types of training
programs:
 Induction Training Programs (for MRs )

 Supervisory Management Programs (for FSs)

 Advanced Supervisory Management

 Refresher Training Programs (for everyone in sales in as and when basis).
The MRs is virtually the direct product of this training department. The selling skill of the
MRs are dig out through the training session on that ultimately BPL depends for attaining its
target sale.

8
2.9 MIS Department:

The MIS department is the department that takes care of total automation of BPL. It supports
the hardware and network of the company and the factory. It maintains the automation
regularly and keeps the pace with the global IT. The MIS department also maintains the
radio-link between the factory and the head-office.
Though separately dealt before, recently software department has been incorporated with
MIS department. This software section is to work for developing software solutions as per
organizational requirements. It also supports the other companies‟ requirements of the
chemical division. The facilities of MIS department are available round the clock for 24
hours.

2.10 MSD:

MSD stands for Medical Services department. It is a unique department in this industry as
BPL established this first ever in order to create easy relationship through using the
professional linkage with the doctors, the ultimate customer of the pharmaceutical
companies.
This is a supporting department that provides services (e.g., slide preparation, providing
different journals, books etc.) to the health professional on different issues and receives
feedback from them. It arranges seminars on different issues such as diseases and their cures
in different parts of the country. It publishes a special „Medical Newsletter‟ quarterly and
sends the current issues to the enlisted doctors at free of cost. The newsletter consists of
important, recent medical articles. It also provides news gathered from Internet and allows
free browsing facility for the doctors. Thus it helps the medical community and at the same
time increases the company image outside.

2.11 Business Research & Development Department:

The department began its operation for the purpose of working on market development –
both domestic and international. It assists product development and marketing of new
products. The product development process is as follows:

9
The product development process is as follows:

Market Research

Molecular
Structure

Development
Sample

Analytical Method
Development

Stability
Profile

Quality Assurance (in each stage in factory) and Quality Control improvement is another
concern of this department. It suggests the SOP (Standard Operating Guideline), which is the
biggest part of GMP (Good Manufacturing Practices). It is mention that by practice BPL
follows the highest standard of quality suppose as suggested by WHO. Purchase and material
management coordination is also included within responsibilities of this department.

2.12 International Marketing:

It is note that BPL has started marketing its product internationally. This department is
concerned with the international promotion and marketing of BPL finished products and
basic chemicals. It analyzes country analysis in terms of health status, economy, market and
its growth, legal bounds of entering the market with its product etc. to find the feasibility to
market its products. So far it has 18 export outlets.

10
2.13 Multimedia Department:

BPL is the only pharmaceutical company that has a multimedia department. This department
is helping in the promotional activities of BPL. It designs medical videos for the doctors. The
color, size, shape, lettering etc. of the text are carefully selected to attract the target audience
easily. It has designed some Kiosks that have been placed in some medical colleges for the
students to learn and be trained.
The department also provides audio-visual aids to other departments of the company and also
assists to decorate the publications.

2.14Finance and Accounts Department:

There are three sections in this department.

 
 Treasury section
 
 Accounts section
 
Cost and budget section

Treasury section deals with banks and bills. It also looks after the cash planning and
management. Accounts section is there to maintain all records and transactions. it is
automated with aid of the software named MAPICS (Manufacturing Accounting Planning
Information Control System).Cost and budget section identifies the cost centers and prepares
the budget. Cost section calculates the product cost and cost of goods sold. The annual budget
preparation starts at October. Budget review is done quarterly (internally) and half-yearly (by
the top management). It compares the budgeted and actual sales and expenses and prepares
reports on them.

11
 Chapter-3

Marketing Mix Practices of Beximco

Pharmaceuticals Limited

12
3.1 Marketing Mix:

The marketing mix refers to the set of actions, or tactics, that a company uses to promote its
brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product,
Promotion and Place. However, nowadays, the marketing mix increasingly includes several
other Ps like People, Process, and Physical environment as vital mix elements.

The tools available to a business to gain the reaction it is seeking from its target market in
relation to its marketing objectives. 7Ps – Price, Product, Promotion, Place, People, Process,
Physical environment. Traditional 4Ps extended to encompass growth of service industry.

3.2 Marketing Strategies:

Marketing strategy is the goal of increasing sales and achieving a sustainable competitive
advantage. An organization’s strategy that combines all of its marketing goals into one
comprehensive plan. A good marketing strategy should be drawn from market research and
focus on the right product mix in order to achieve the maximum profit potential and sustain
the business. The marketing strategy is the foundation of a marketing plan.

13
3.3 Marketing Mix Practices of Beximco Pharmaceuticals Limited:

3.3.1 Products:

Product is the core of all marketing activities. There are two types of organizations according
their product. Some organization’s core product is goods on the other hand some
organization’s core product is service.

3.3.1.1 Range of Products:

Range of products here represents different types of items of products. The pharmaceutical
companies divide their medicines into three categories- infusions, formulations and
pharmaceuticals. The total number of products Beximco has is 180, whereas Square has about
300 types of products within their medicine range. Therefore, Square is occupying the leading
position in producing the widest range of products. Incepta is currently marketing about 137
products. Aventis holds the fourth position. ACI formulates and markets a comprehensive
range of more than 120 products covering all major therapeutic areas, which come in tablet,
capsule, powder, liquid, cream, ointment, and gel and injection forms. Acme and Opsonin
have the lowest range of products compared to the above-mentioned companies.The survey
results, as depicted in the above figure; more or less reflect the reality. However, it fails to
show the huge gap in the product range between Beximco and Square. According to the
doctors, the difference between the product ranges of the two companies is narrower. The
other bar in the figure above mostly represent Incepta which has the third largest product
range. The smallest bars in the figure perfectly depict the lowest range of products of Opsonin
and ACME.

3.3.1.2 Product Quality:

The quality of any product includes everything associated with it, ranging from the raw
materials to the effectiveness when consumed. Doctors usually emphasizes on less side
effects, less frequency of administration and quick and effective therapeutic response when
referring to product quality. However, it has been found that doctors give much more
emphasis on quick therapeutic response rather than effective therapeutic response. This is

14
Because sometimes effective therapeutic dosage may cause delay in recovery and patients
switch to other doctors. Therefore, doctors have to prescribe drugs which would lead to quick
recovery. According to the opinion of the physicians, square has the leading position.
Beximco holds the second position. Aventis and ACI also have good positions in terms of
quality perception. This due to the fact that some their products are imported from abroad.
Moreover the imported medicines have very few alternatives in the local market. Acme and
Opinion medicines are not rated high in terms of quality. It may be said that 22% respondents
believe that Beximco‟s products provide quick recovery.

3.3.1.3 Product Line:

A range of associated products that yields larger sales revenue when marketed together than
if they were marketed individually or in isolation from others.

• Sterile Products.

• Non Sterile Products.

• Biological Products.

• Cephalosporin’s (Dedicated manufacturing facility).

3.3.1.4 Product Decisions:

The term “product” refers to tangible, physical products as well as services. Here are some
examples of the product decisions to be made:
 
 Brand name
 
 Functionality
 
 Styling
 
 Quality
 
 Safety
 
 Packaging
 
 Repairs and Support
 
 Warranty
 
Accessories and services

15
3.3.1.5 Product Presentation:

The product presentation of any product includes everything associated with it, ranging from
the color to the design. It has been found that the companies can even charge a high price if
their product presentation is good even if it is of the same quality as the others.
According to the physician’s opinion, square has the leading position in terms of product
presentation. Aventis and ACI also have good positions in terms of product presentation. This
is due to the fact that some their products are imported from abroad. Moreover the imported
medicines have very few alternatives in the local market. Beximco’s competitive position is
not quite good in terms of product presentation. Acme and Opinion medicines are not rated
high.

3.3.1.6 Introduction of New Products:

New generation drugs always attract doctors. Sometimes even if a drug with the same
therapeutic value is there in the market, a new drug launched takes a huge percentage of the
market share of the older one. As for example, NeoceptineR was a market leader once. When
Neotack entered the market, the market share of NeoceptineR fell dramatically due to doctors
liking new generation drugs. In fact, because of this, the pharmaceutical companies
frequently arrange seminars and symposia covering a wide range of medical topics attended
by members of health care community. The faculty of these programs usually consists of both
reputed medical experts and experts from marketing team of the company. According to the
physician’s opinion, square has the leading position in the frequency of introducing new
drugs.

Company % of Response
Beximco 22
Square 23
ACI 16
Opsonin 5
ACME 6
Aventis 17
Others 11

Introduction of new products

16
Beximco holds the second position. Aventis and ACI also have good positions. Incepta is
increasingly moving towards introducing new products. According to the doctor’s opinion,
ACME and Opinion are least proactive in introducing new drugs.

3.3.1.7 Product Strategies:


Beximco Pharmaceuticals Limited does not simply believe in introducing new
molecules, it also believes in creating the difference in the market place by offering
impeccable quality. BPL stands on the heritage of bringing innovative medicine to
people. BPL‟s products are all intended to help people to live healthy lives. BPL‟s
portfolio features a range of high quality, effective products, some are the first of

 their kind and many are ranked number one in their therapeutic area.

A team of highly qualified people sets BPL‟s product feature and attribute. Arts
and science are blended together inside BPL‟s products. BPL‟s products are
designed and engineered in such manner that their overall presentation, size, shape,
color, flavor, viscosity, coating, etc. are completely different from those of the
competitors. Whatever may be the dosage form or packaging-blister, strip, bottle,
cartons, labels, etc., BPL‟s presentations are widely recognized for their best

 aesthetic look among all competitive brands?

Beximco offers a comprehensive range of about 80 formulations in various dosage
forms such as tablets, inhalers, capsules, creams, suspensions, syrups,
suppositories, etc. From anti-ulcerates to vitamins, antibiotics to bronchodilators.
Beximco has a widely diversified product portfolio. Every year the company

 introduces new products. In 2003 BPL launched 12 new products.

In Bangladesh, Beximco enjoys very high brand loyalty. Many BPL products are
brand leaders in their respective categories. Neoceptin-R Beximco’s ranitidine
formulation has 15.5% market share and has been the brand leader for a number of
years. It is Beximco’s highest selling product. Napa, Beximco’sparacetamo reign
the analgesic markets with a 27.5% market share and has been the brand leader for
th 
 the 10 consecutive year.

BPL‟s asthma inhalers have enjoyed excellent sales growth over the years and
have received huge response from the patient and doctors. Other therapeutic 
classes of drugs where BPL brand still lead include ACE inhibitor, systemic etc.

17
3.3.1.8 Blockbuster Products in 2014:

Success of a pharmaceutical company depends on how effectively it establishes its brands in

the market. The excellent blending of world class manufacturing technology and innovative
marketing strategies made BPL successful in achieving brand equity for its products. As a
result the number one product by value and the number one by unit in Bangladesh
pharmaceutical Industry and also the highest selling drug in the cardiovascular class belongs
to BPL.
 
 Napa – number one product by value

  a household brand in the
Napa is the highest selling product by unit. Napa has become
mind of physicians as well as consumers of Bangladesh.
 
 Neoceptin R – Number one product by value

One of the major revenue earning products of BPL is Neoceptin R. It is also the
highest selling productby value and is the undisputed leader in Bangladesh
 Pharmaceutical Market.
 
 Amdocal – Highest selling drug in the cardiovascular market

Amdocal is one of the most prestigious and revenue  earning products of BPL. It is the
highest selling product in the cardiovascular market.

3.3.1.9 Production Utilization:

• Zirabo, Savar about 35 kilometers from the capital city and is spread over the land of
about 151,000 square feet area (approx.14,000 square meter) with a build-up total
floor area of about 231,400 square feet (approx.21,500 square meters) with state of
the art manufacturing facilities. The plant manufactures tablets, capsules, oral liquids
and Injectable, nasal sprays, creams, ointments, ophthalmic products, sachets, powder
for oral suspensions, spray dried specialized dosage forms etc. Cephalosporin group
of products are manufactured in a completely separate building.

18
3.3.1.10 Product design and style:

• Although product design varies from company to company, but the leading local and
foreign companies have certain standard on product designing that is acceptable to
world market. They use quality design of packs, strips, bottle cover etc.

3.3.2 Price:

In the pharmaceuticals market of Bangladesh, there is not much price differentiation, in

general, among the different companies due to the highly competitive nature of the industry.
Whatever price differentiation is there, it is between the multinationals and the national
companies. It is due to the fact that the multinationals charge a premium price for their
product. Moreover, price is not a very important factor due to the nature of the product.
Quality is more important. However, the purchasing capacity of the patients is also an
important consideration. Therefore, it is important for the companies to charge a reasonable
price for their product. According the survey, most of the doctors perceive Beximco as
offering reasonable pricing for their product. It may be due to the fact that Beximco has
recently come up with a very competitive price for some of its key products. Square hold the
second position.

3.3.2.1 Price Decisions:

Some examples of pricing decisions to be made include:

 
 Pricing strategy (skim, penetration, etc.)
 
 Suggested retail price
 
 Volume discounts and wholesale pricing
 
 Cash and early payment discounts
 
 Seasonal pricing
 
 Bundling
 
 Price flexibility
 
Price discrimination

19
3.3.2.2 Pricing Strategies:


Beximco pharmaceuticals Limited maintain competition based pricing strategies. In the
 among the
pharmaceuticals market there, is not much price differentiation, in general,
 different companies due to the highly competitive nature of the industry.

Price is not a very important factor due to the nature of the product. Quality is more
important. However, the purchasing capacity of the patients is also an important
consideration. Therefore, it is important for the companies to charge a reasonable price

 for their product.

According the survey, most of the doctors perceive Beximco as offering reasonable

pricing for their product .It may be due to the fact that Beximco has recently come up
with a very competitive price for some of its key products.

3.3.2.3 Pricing strategy for new product:

Since the government strictly controls price of pharmaceutical products, a new company
should adopt „shadow or indirect‟ pricing method.

3.3.2.4 Pricing Approach:

• The prices of products under controlled category are determined by the government.
The manufacturing companies are allowed to propose the prices of the products that
are under decontrolled category and the approvals of these proposed prices are given
by the government. Since the local government strictly controls price of
pharmaceutical products, there is a very negligible price difference. The maximum
retail-selling price of a product shall be just double the price of API plus value added
tax at 15% VAT. But, the price of raw materials is competitive which is fixed based
on international market situation. As Pharmaceutical manufacturers have to depend on
imported raw materials, increase in prices of raw materials internationally impact
directly to the cost of production.

20
3.3.3 Distribution/Place:

In the pharmaceuticals market, distribution is very important. Having made all decisions of
marketing properly, a company will not be successful if it cannot distribute its products well.
According to the physicians, square has the strongest distribution among all the companies.
With its eleven distribution centers, it maintains a proper distribution of drugs in the chemist
shops all through the country. Beximco holds the second position. Aventis maintains a
moderate network. While companies like Opsonin, ACME and ACI are not perceived to have
a good distribution. It may be due to the fact that these companies targets different pockets of
the whole market.

3.3.3.1 Distribution (Place) Decisions:

Distribution is about getting the products to the customer. Some examples of distribution
decisions include:
 
 Distribution channels
 
 Market coverage (inclusive, selective, or exclusive distribution)
 
 Specific channel members
 
 Inventory management
 
 Warehousing
 
 Distribution centers
 
 Order processing
 
 Transportation
 
Reverse logistics

3.3.3.2 Distribution Strategies:

 Medical Representatives:
Personal Selling is the interpersonal arm of the promotion mix. Personal selling involves two
ways, personal communication between Medical Representatives and doctors. Since Medical
Representatives represent the company to doctors they are vital in creating the image of the
company in the customer’s mind. Therefore, BPL gives extra concern in managing and
sprucing up its Medical Sales team.

21
Basic Requirements for recruiting a Medical Representative:
 
 Master’s degree with science background
 
 Minimum second classes all through academic life
 
 Good interpersonal skills
 
 Well Groomed
 
 Medical Representative’s Major Responsibilities:
 
 Conducting recall researches to choose the right and potential doctors
 
 Visiting the doctors
 
 Detailing product features to Doctors
 
 Generating Demand from Doctor’s end
 
 Visiting the Chemists to collect indent from them
 
Placing the indents to the distribution department through sales department

3.3.3.3 Routine Work of Medical Representatives:

 
 In a working day, a MR has to visit 16 doctors and 10 chemists

 In 
a single visit, on an average, he has to detail 8 to 10 products, out of which 2 are
usually new products and the rest are follow up products
 
 On an average, a MR has to spent 15 minutes for a doctor
 
 He has to submit a monthly tour program report
 
In-house Training programs provided to the Medical Representatives

3.3.3.4 42 day long Induction Training Program to develop:

 
 Grooming
 
 Attitude
 
 Morality
 
 Motivation
 
 Communication Skill
 
Speaking Skill

22
3.3.3.5 Fundamental Training Program on:
 
 Basic Medical science
 
 Biology
 
 Chemistry
 
 Biochemistry
 
Molecular Science

Regular Training Programs on topics related to specific products (Product interaction,

constituents, product kinetics, dosage, competitive advantages, side effects, etc.). Basis for
designing a territory for the Medical Representative:
 
 Number of doctors and chemists in the territory
 
 Geographical Location
 
Communication/ traveling time between two visiting points

3.3.3.6 Medical Representatives:

Company representatives have a major role to play in the sale of drugs. This is because a
good representative can create a favorable impression of the company on the doctors. When
the doctors prescribe a drug, they, in turn, are influenced by this impression. However, to
create an impression, the medical representatives must be both knowledgeable and able to
provide prompt service. According to the doctor’s opinion, Beximco’s Medical
Representatives offers the most prompt service. Square’s Medical Representatives also
maintains a good reputation in serving doctors. Incepta’s medical representatives seem to
have created a good impression of them as being efficient in providing service.

3.3.3.7 Channel design:


Beximco has its own large distribution network having 18 depots all over the country.
They make the products available in every single drug store of the country. The
depots are located in Dhaka, Chittagong, Rajshahi, Khulna, Sylhet, Barisal, Comilla,
Noakhali, Mymensingh, Magura, Bogra, Narayangonj, Rangpur, Dinajpur, Tangail,

 Jessor, Moulovibazar and Cox's Bazar.

Beximco market their products in 37 countries of the world through our distribution
partners.

23
Figure: Channel design

3.3.4 Promotion:

Due to high competition in the industry among the different players in the market, aggressive
marketing have been adopted by the different companies. In this regard, promotion has
become a useful tool to fight competition. Moreover, promotional materials of companies
have an impact on doctor’s prescribing medicine. Therefore, different companies have set out
different promotional tools to increase market share.

3.3.4.1 Promotion Decisions:

In the context of the marketing mix, promotion represents the various aspects of marketing
communication, that is, the communication of information about the product with the goal of
generating a positive customer response. Marketing communication decisions include:
 
 Promotional strategy (push, pull, etc.)
 
 Advertising
 
 Personal selling & sales force
 
 Sales promotions
 
 Public relations & publicity
 
Marketing communications budget

24
3.3.4.2 Promotional Strategies:

Before patients can benefit from the steady stream of modem medicines flowing from the
pharmaceutical industry, an important part of the fast-moving process of innovation is to
keep doctors, pharmacists and other health professionals up to date with the work going on in
clinical research and to inform them about the availability of new medicines. Studying
different market characteristics is the main function of marketing department. There are
different types of market for pharmaceutical products. According to the market
characteristics a product can be classified in three major parts:
 Prescription-only medicines – available only through a doctor‟s prescription

 Pharmacy sale medicines -Only registered pharmacy can sell these medicines with or
without the prescription of a doctor.

 OTC (Over the Counter) medicines – Anyone can buy and sell these medicines.

Marketing of Pharmaceutical product is different in Bangladesh. In Bangladesh the drug

buying and selling is completely regulated by rules. Pharmaceutical Products cannot enjoy
advertising like any other consumer products. So personal selling is the way the products can
be advertised and sold. As, Over the Counter products do not require any rule to buy or sell it
has a chance to go through print advertising and television advertising. But marketing of
prescription only medicines and pharmacy sale medicines can be done only through personal
selling.

Different buying behavior has a great impact on marketing a product. Understanding the
consumer’s buying attitude is the first job of any marketer. To analyze behavior, the marketer
has to visit the place, gain knowledge about their financial condition, culture, tradition and
the competitor position.

After analyzing the buyer’s attitude, the second important factor is to make the sales force
effective and efficient. This is done through extensive training and in-house medical
education programs. Once the sales team (medical promotion executives) has acquired
adequate knowledge and interpersonal skills, they are set off into the market. A typical
medical representative a science graduate and will have access to considerable detail about

25
The company’s products. Medical representatives are a convenient and helpful way for
doctors to get rapid and accurate information about medicines. They must maintain a high
standard of ethical conduct and must not employ any inducement or subterfuge to gain an
interview. Relevant inexpensive promotional items are provided. Hospitality can be provided
only in association with scientific and promotional meetings, scientific congresses and other
such meetings. It can only be provided to appropriate delegates or participants. The level of
hospitality must be secondary to the main purpose of the meeting.

3.3.4.3Advertising Appeals:

“Perception defined: “Perception is defined as the process by which an individual selects,

organizes and interprets stimuli into a meaningful and coherent picture of the world.” It can
be described as “how we see the world around us.”
For pharmaceutical products, patients are the ultimate consumers of the products. However in
most cases they purchase those drugs that are prescribed by the doctors. So doctors are
considered to be the target customers for pharmaceuticals products. Considering this, we
would consider doctors as the customers and proceed accordingly.

“Physicians tend to be more rational in their decision making than ultimate consumers. They
prescribe to fit the needs normally are of a practical nature. But it should not be forgotten that
these physicians are individuals having personal needs which become enmeshed with their
roles as decision makers of their patients. Thus, even choice of a prescription drug may be
made on bases which are non-rational or emotional.

The advertisers (marketers) have recognized the various factors which influence prescribing
decisions and have structured their advertising appeals toward these factors. The following is
a list of types of appeals used to influence prescription drug decision:

3.3.4.4 Rational Appeals:

 
 Product Related Appeals
 
 Economy
 
 Degree of Innovation
 
 Differentiation/ Position
 
 Packaging
 
Dosage Form/ Taste

26
3.3.4.5 Physician Related Appeals:
 
 Peer/ Specialist Approval
 
 Pharmaceutical/ Therapeutic Committee Approval
 
Therapeutic Aid in Practice

3.3.4.6 Clinical Use Appeals:

 
 Dependability
 
 Safety
 
 Clinical Illustration
 
 Effectiveness
 
Reminder

3.3.4.7 Patient Related Appeals:

 
 Compliance
 
 Quality of life
 
Patient Acceptance/ Preference

3.3.4.8Manufacturer Related Appeals:

 
 Experience
 
 Service
 
Special Expertise

3.3.4.9 Non-Rational Appeals:

 
 Empathy
 
 Humor
 
 Sex
 
 Curiosity
 
 Fear
 
 Unusual non-clinical illustration
 
 Ego gratifying
 
Anger/ Defensiveness

27
3.3.4.10 Promotional Tools:


Scientific Seminar: The Medical Department arranges seminars and workshops covering
a wide range of medical topics. These events are led by Beximco‟s team of Medical
service experts and are attended by members of the medical profession. It also organizes a
good number of National Symposia on specialized medical topics, which are attended by

 country’s renowned physicians and scientists.

Newsletter: The Medical Newsletter is a compilation of latest information gathered from
articles published in different national and international journals covering all disciplines
of medical science. The Newsletter is circulated among 17500 doctors in the country and
is also distributed in Myanmar, Pakistan and Kenya. Doctors who do not have access to
international journals can obtain information relevant to their practice from the

 newsletter.

Special Publications: The pharmaceutical industry is also deeply involved in doctors‟
continuing education, and helps in training prescribes in the uses and techniques of new
medicines. GPs and other health professionals would find it difficult to keep up to date
with scientific and medical advances in health care without these initiatives. Scientific
and technical meetings make available specialist expertise and speakers in therapeutic
areas, which the doctors themselves have often selected as being relevant and useful.
Around half of all educational meetings are sponsored by the pharmaceutical industry and
may be in therapeutic and clinical areas in which the company may have no direct

 product involvement.

Responding to Doctor’s Queries: Beximco takes great care in answering queries from
doctors. The Medical Department’s team of highly dedicated professionals is well trained
to attend these queries. The company encourages doctors to send their queries in postage
paid envelopes attached to every copy of the newsletter or on a specific query form
distributed in each clinical meeting. Currently most of the doctor’s queries are met

 through its own Internet facilities.

Medical Illustration and Audiovisual Aids: To assist physicians in sharing the results
of their academic research and experiences with the larger medical community, Beximco
extends its services to a great extent, in preparation of presentation packages including
slides, transparencies and texts. The medical department has built up an extensive video

library of internationally reputed video journals on different medical topics. Theses

28
 Videocassettes are about actual surgical procedures, the latest information about
treatment modalities and various ailments.

Medical Newsletters: The Medical Newsletter is a compilation of latest information
gathered from articles published in different national and international journals covering
all disciplines of medical science. These selected publications are on topics that can assist
the doctors in their professional practices. These newsletters create a good impression of
the company and have an impact on the prescription of the drugs. According to the
physicians, Square has the leading position in the frequency of publishing Medical
Newsletters. Beximco holds the second position. Aventis and Incepta also have good

 positions in terms of publishing Medical Newsletters.

Printed Promotional Materials: Different types of printed promotional materials are
used by the pharmaceuticals companies. They include booklets on disease and brands,
stickers for display, etc. According to the doctors, the printed promotional materials
provided by Aventis Pharma are most attractive both in terms of design and information,
in comparison to the other pharmaceutical companies. Being a foreign-based company, it
has to maintain a global standard and therefore is more acceptable to doctors. Square and
Beximco also maintains a good standard in their promotional materials. Incepta is
increasingly moving towards improving their printed materials and they also have a good
distribution network. Acme comes fifth. Doctors hardly receive any printed promotional
materials from ACI but when they do it is of average standard. In case of Opsonin,

 though they do receive materials from them, it is not of high standard.

Gifts: The different types of gifts, in use, by the pharmaceutical companies include
writing pads, pens, calendars, bags, etc. According to the doctors, the most attractive gifts
are provided by Incepta Pharmaceuticals. Square and Aventis also maintains a good

 standard in their gift materials.

Physician Samples: All the pharmaceutical companies provide samples of new medicine
or medicines that they want to increase sales to doctors from time to time. Accordingto
 the doctor’s opinion, the company that provides the most adequate physician sample is
Square, in comparison to the other pharmaceutical companies. Beximco is in the second
position with 22 % and ACME is in the third position with 19% under the same
categorization.

29

Image Analysis: Even when competing offers look the same, buyers may perceive a
difference based on company or brand image. Image includes a set of associations ranging
from the brand name, product performance, reliability, features, benefits, doctor’s
preferences and the corporate image. Within the pharmaceutical industry, it can be
observed that all the companies offer more or less the same types of medicines. Even at
times, the names of the products are quite similar to each other. So if Beximco
Pharmaceuticals wants its consumer to perceive the difference between them and others it
must strengthen its image. The brand image should convey the product‟ distinctive
benefits and positioning. Beximco holds the second position. Beximco Pharmaceuticals
Limited has sustained a good image from the time it started its operation, but to reach the
top position in terms of overall image, it has to emphasis more on the quality, availability
and presentation aspects of their product. Aventis grew as a company after acquiring

Faison’s and Hoechst and as a result, their image is quite positive

3.3.5 People:



People all people who directly or indirectly influence the perceived value of the product
 or service, including knowledge workers, employees, management and consumers.

People are the opportunities for an organization for developing economic conditions of a
country. So that a pharmaceuticals industry like Beximco pharmaceuticals Limited. Can 
 develop best key marketing people to do better business by giving them proper training.

better for the pharmaceuticals industry if it is
As a student marketing I think it will be
done properly within the organization.

3.3.6 Process:


Process isthe procedures, mechanisms and flow of activities which lead to an exchange
 of value.

In Beximco pharmaceuticals Limited process is under supply chain management. If there
any problem in process then the whole thing will be hampered. For better process for both
 and also satisfying the customers Beximco pharmaceuticals limited. always
in factory
 take
Proactive action to maintain the process. For example, Beximco pharmaceuticals limited
own power supplies system, not to hamper the production process.

30
3.3.7 Physical evidence:


Physical evidence the direct sensory experience of a product or service that allows a
customer to measure whether he or she has received value. Examples might include the
way a customer is treated by a staff member, or the length of time a customer has to wait,
or a cover letter from an insurance company, or the environment in which a product or

 service is deliver.

The employees of Beximco pharmaceuticals Limited are always give priority of their
customers. The company trained their employees to maintain a good relation with
customers. They have waiting room for customers and employees give to do the things in

time as per customer’s requirements.

3.4 Transportation:

Every drug manufacturing company has their own transportation vehicles as like trucks,
cargo trucks etc.

3.5 Competitors:

There are many competitors:-

1. SQUARE PHARMACEUTICALS LIMITED.

2. OPSONIN PHARMA LIMITED.
3. ESKAYEF
4. RENATA PHARMACEUTICALS
5. ACME PHARMACEUTICALS
6. ACI PHARMACEUTICALS
7. ARISTOPHARMA
8. DRUG INTERNATIONAL
9. SANOFI AVENTIS

31
 Chapter-4

Analysis and Findings

32
4.1 SWOT analysis of Marketing Strategies:

SWOT Analysis

Internal Factors External Factors

Strength Weaknesses Opportunities Threats

Strength:

BPL is one of the leading companies in the pharmaceutical industry of the country and could
attain almost 15% of the local market. The strength of attaining such position in the industry
is:
 
Brand Leadership:

As survey showed that 27 of BPL‟s products are found to be brand leaders out of 47 products
surveyed while 10 stand at second place.
 
Market Recognition:

Beximco has secured market recognition in the market through innovative marketing
strategies and aggressive product promotion. The company’s strong support to the medical
community has gained its brand loyalty from the doctors.

33
  
Market growth:

The market is expected to grow by 15 to 20% per annum for the next 5 years. The
compounded annual growth for the previous 6 years was 15%. The next stage of growth is
expected to come from backward integration to manufacture high volume raw materials,
introduction of Hi-Tech manufacturing process that is difficult to imitate products, and
exports.
 
Aggressive diversification:

BPL is keen to diversify its capacity of produce and market. Strong export demand and
international product registration have led BPL to embark on a massive capacity expansion as
evident in expansion of plant and establishment of new plant in compliance with FDA
(Federal Drug Association) quality mark. Recently BPL signed a new contract for loan of
about 1100 million BDT for its FDA (Federal drug Administration) compliant plant that costs
over BDT 3,000 million BDT.

Weaknesses:


The company does not produce any kind  of injectable. The company can increase its
 market share by producing injectable.

BPL has a narrower product line and number of products than its principal
competitors in the market. Unless the product line and numberof product are
expanded the market share of BPL will be endangered in near future.

Opportunities:

There are some of the sectors where BPL has not entered but that possess ample
opportunities.

One of such sector is SVP or small volume Parenteral that is known as injections in
the market. Due to having the quality attainment capability as evident in producing IV
products, expertise and resource BPL should immediately think of this product and

 decide upon having the feasibility study.


International market is also another very lucrative sector for BPL. In the world market
 the low cost of product is an important upper hand for BPL to market its product.

The new FDA compliant plant will assist BPL to confirm the world market about the
quality of its products.

34
Threats:


Competition from the local pharmaceutical companies and the very specifically in
 context of price is a major threat for BPL.


The poor economic status of Bangladesh requires a low price of drugs to ensure
public health. For the reasons like high cost of maintaining quality of products and
high distribution cost etc the products of BPL cost higher than that of other
companies. As a result BPL is in fear of losing market in the rural areas of

 Bangladesh.


The year 2015 will be crucial for BPL as well as for all other local pharmaceutical
companies. Currently Bangladesh market is protective for facilitating the local
companies in pharmaceutical sectors in such way that any product able to meet the

 local demand cannot be imported.


Also till to date companies can buy basic ingredients of pharmaceutical products at
very low cost materials from India and China as these country do not follow the
international patent law. However after implementation 2007GAT (General
Agreement of Trade) being a signatory Bangladesh will be in pressure to not buy the
raw materials from the country those will not follow global patent law. GAT will
pursue product patent registration system and royalty on patent will be enforced. As a
result the raw material cost would go higher than now. This will eventually endanger

BPL further as it is already in crisis due to having high product price.

35
4.2 Findings:

 
Insufficient Product Lineup:

Inadequate product always creates negative vibe about the company. Although BPL has a
huge product lineup still there is some fissure in anti-biotic section. New product should be
introduced in antiseptic section as well.

 
High pricing strategy:

Value Based pricing means setting the price based on buyers‟ perceptions of value rather
than on the seller’s cost. Some particular product group is highly priced compared to other
competitor of the market. Due to high pricing factor often consumer shifts to less priced
pharmaceuticals product.

 
Congested Field of operation:

Beximco itself a huge company and has a huge range of coverage nationwide. Despite of that
often company faces challenges in distribution management nationally. Some rural area is
still not covered by Beximco‟s umbrella.

 
Less promotional activities:

In spite of being a top rated pharmaceutical company in Bangladesh, the promotional

activities of Beximco is not that much visible to general people. Comparing to others BPL
performs less promotional activities & CSR yearly.

 
Less number of employees:

Although BPL is a huge company still there is less number of employees on human resource
department as well as strategic brand management. So, it takes a bit longer time to process
the required task.

36
  
Lack of information:

Environment for the BPL‟s Image all marketing mix information is not available online.
Company’s strategic information is restricted to general people. Therefore our study has
a limitation at this side.

 
Less experienced employees:

Less experienced employees performing the marketing sector. They are not well-
experienced to satisfy the customer.

 
Lack of product knowledge:

Although BPL‟s medical representatives provide prompt service, they are not quite
knowledgeable. The Printed promotional materials provided by Beximco Pharmaceuticals
Limited is not quite attractive as other pharmaceuticals companies

 
Inadequate sample:

Frequency of distribution of medical newsletters is moderate. The physicians are not satisfied
with the gifts provided by BPL. They also feel that, not adequate sample is provided to them
by the Medical representatives of Beximco Pharmaceuticals Limited. Moreover, the
expensive medicines are not provided as samples at all.

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 Chapter-5
Recommendations and Conclusion

38
5.1 Recommendations:
 
Introduce new product:

BPL should introduce quality new product to satisfy consumer needs. Each and every section
should be covered within product lineup, comparing to competitor.

 
Affordable price:

Pricing strategy of a company reflects its growth. Price should be affordable according to
consumer’s purchasing feasibility, or it may end up with diversion towards competitor.

 
Ensure proper placement:

Distribution process should be smooth and placement should be ensured nationwide.

Internal conflict within channel should be taken under control for flat distribution system.
Cross territory issue should also be taken care off.

 
Incorporate promotional activities:

Integration& implementation of effective promotional activities may add some value

towards overall business. BPL should involve themselves to versatile CSR activities for the
betterment of their business image.

 Increase product knowledge:

Beximco Pharmaceuticals Limited should increase its product variety. Product variety
represents different types of items of medicines. At present, Beximco offers around 180
different types of medicine. Some other companies are offering more than this. BPL can
diversify itself from others by operating in highly specialized segments such as anti-cancer
segments.

39
  
Adequate information:

The strict regulations that have governed the communication of information about
prescription medicines in Bangladesh meant that the primary marketing focus has been on the
people who actually make prescribing decisions; the doctors.

 
Hiring more employees:

More expertise & skilled people should be gathered a lot of business opportunity is present
and there is a lot of working pressure in BPL. But there are not enough officials here to
handle the pressure of work which can be easily seen in any pressure day.

 
Recruiting experienced employees:

Recruitment of new officers who are experienced in pharmaceuticals sector may add extra
value. This experience employee can serve new thought about pharmacy. They know about
all medicines. They can secure market recognition in the market through innovative
marketing strategies and aggressive product promotion.

 
Incorporate Adequate sample:

BPL should incorporate frequency of distribution of medical newsletters. BPL should always
provide adequate sample to the physician. The physicians are satisfied with the gifts provided
by BPL. The cheap medicines shouldn’t provide as samples at all.

40
5.2 Conclusion
In today’s competitive environment, pharmaceutical companies are demanding much greater
coordination from promotional activities to physician customers. By conducting image
analysis, it can help pharmaceutical company’s better target and segment customers, select
the proper combination of marketing channels, and precisely measure the impact of
promotional programs.

There are about 300 companies operating in the Bangladesh Pharmaceuticals industry. The
market is highly competitive and it really hard to get response from the market.

Pharmaceutical Industry has grown in Bangladesh in the last two decades at a considerable
rate. Its healthy growth supports development of auxiliary industries for producing glass
bottles, plastic containers, aluminum collapsible tubes, aluminum PP caps, infusion sets,
disposable syringes, and corrugated cartons. Some of these products are also being exported.
Printing and packaging industries and even the advertising agencies consider pharmaceutical
industry as their major clients and a key driving force for their growth.

The annual per capita drug consumption in Bangladesh is one of the lowest in the world.
However, the industry has been a key contributor to the Bangladesh economy since
independence. With the development of healthcare infrastructure and increase of health
awareness and the purchasing capacity of people, this industry is expected to grow at a higher
rate in future. Healthy growth is likely to encourage the pharmaceutical companies to
introduce newer drugs and newer research products, while at the same time maintaining a
healthy competitiveness in respect of the most essential drugs.

41
 BIBLIOGRAPHY

References:

 
Books:
th
David W. Cravens & Nigel F. Piercy, Strategic Marketing 8 Edition, Inc.,
Singapore, 2006.
th
Philip Kotler, Marketing Management 11 Edition, Inc., USA, 2003.
th
Philip Kotler, Principles of Marketing 13 Edition, Inc., USA, 2005.

 
Websites:
http://www.assignmentpoint.com/business/internship-report-on-marketing-
Mix-of-beximco-Pharmaceuticals-limited.html, retrieved on 22/11/2014 at
12p.m.
http://www.scribd.com/doc/Assignment-on-Marketing-mix-of-beximco-
Pharmaceuticals, retrieved 09/11/2014 at 1p.m.
http://www.google.com/marketing/internship-report-on-Marketing-mix-
Practices-of- beximco-Pharmaceuticals-limited.html, retrieved on 22/12/2014
At 9a.m.