Strategic Management Pharmaceutical Essay Example | Topics and Well Written Essays - 500 words

Strategic Management Pharmaceutical - Essay Example Pfizer Inc. pays a special attention to the product mix and geographical location (Johnson, Scholes 1998). Pfizer Inc. follows two pathways: growth with the same products in the same markets and development of new products for the same markets. Pfizer Inc follows vertical-integration which allows the company to integrate upwards. Also, growth strategy involves HRM and resource location aimed to meet the highest industry requirements and customers' demands. It was stated above that marketing departments work more closely with R&D departments to ensure that the products which are developed are those which cater for the changing needs of target customers and different needs of varying customer segments. In recent years, high failure rates in the introduction of new products have led departments to be very risk averse, with most 'new' products emerging being merely extensions of existing product lines and not truly new and innovative offerings. Its best selling and innovative products in clude Lipitor, Diflucan, Zithromax, Viagra, Celebrex etc.