Research On The Marketing Strategy Of Wang-Bi Drug Of Renxin Pharmaceutial Co.,Ltd

With the continuous implementation of reform policies such as volume purchasing,online sales and two-ticket system,the pharmaceutical market is becoming increasingly competitive.The pharmaceutical industry’s overall development situation has seen the elimination of the fittest become an inescapable trend,with opportunities and challenges that will test the capacity and level of growth of pharmaceutical companies.The primary challenge for many pharmaceutical enterprises is to devise a marketing strategy that is in line with the present-day pharmaceutical industry,gain a competitive edge among comparable products,and seize the market.To illustrate this,Renxin Pharmaceuticals’ Wang-bi drug is the focus of this paper’s study.By combining the relevant marketing theories and the actual situation of Renxin Pharmaceuticals marketing of Wang-bi drug,we propose a marketing strategy suitable for the current development,so as to increase product awareness,expand market coverage and boost sales.Firstly,we briefly introduce the development history of Renxin Pharmaceuticals,the current situation and the problems in the marketing of Wang-bi drug,and analyze the causes of the existing problems.Secondly,SWOT analysis,PEST theory,and the Port Five Forces model are employed to evaluate and characterize Renxin Pharmaceuticals’ marketing of Wang-bi drug,both internally and externally,in order to identify the company’s strengths and weaknesses,external opportunities and dangers.Renxin Pharmaceuticals’ marketing strategy for Wang-bi drug,utilizing the4 p theory in terms of product,price,channel and promotion,was developed through STP strategy.To ensure its success,the company proposed three guarantee measures:organization,talent and system,which were used to segment and position the product.The research results show that Renxin Pharmaceuticals can only adapt to the current development of the pharmaceutical industry by continuously optimizing its marketing strategy.In terms of product strategy,while increasing the chain of Wang-bi drug,chain customer development and maintenance,it is also necessary to increase the stock of hospitals and strengthen the development of blank hospitals and giving policy support to newly developed hospitals;In terms of channel strategy,while carrying out distributor commercial integration and expanding online sales channels,it is also necessary to strengthen the quality of enterprise logistics and distribution and build modern pharmaceutical logistics;in terms of pricing strategy,hospital varieties should be priced through provincial tenders,with flexibility according to the bidding situation to strengthen access and eliminate blanket hospitals.At the same time,strict market price control,to prevent low-priced goods affect the price of the product bidding.In addition,in order not to affect hospital sales,the chain price of the new Wang-bi drug is slightly higher.;in terms of promotion strategy,strengthen compliance promotion,improve the quality of academic meetings at the same time,strengthen personnel promotion.