The main objectives of the study is to find out the impact of pharmaceutical in the contemporary world more specifically its merits and demerits to both the company and the surrounding communities. The paper will also try to examine the various ways of international marketing or going international and how fully it can be utilized to reap maximum benefits. Research Questions Some of the research questions this study will aim to answer include; • Does the concept of marketing play role in the success of international marketing of home care?
• Does home care through international marketing bring out prosperity to the health care industry? • What are the best strategies of entering into marketing for home cares? • What are the main problems faced by home care marketing? • Where do pharmaceutical companies take or sell their drugs to? Literature review With increase in the level of technology the current world has become more and more an integrated community and as a result marketing has become the modern way of improving the economic status of modern firms and companies in the 21st century.
Also due to marketing concept there have been immense disregard to countrywide boundaries, the governments of many countries have had lower hand in domineering the stream of their economies and pharmaceuticals are now not limited to specific home care as it used to be prior to the birth of marketing. Considering the ongoing analysis, pharmaceuticals does not just involve intensification of world wide interdependence precipitated by technological advancement and market forces.
Rather it is a global view modeled by modern managers and predominant power that envisions establishing pharmaceutical system which in the process serves the interest of the firms. Pharmaceutical firm can be defined as a mercantile business which is primarily formed to carry out investigation, expand, advertise or promote and issue medical drugs in the economy. Pharmaceuticals companies can therefore trade in non-specific or brand prescriptions that are permitted by the existing laws.
Like any other business organization, pharmaceuticals are subjected to array of regulation and policies concerning patenting, and advertising of medical drugs. Pharmaceutical industry from its inception in 19th Century, there has been tremendous growth experienced and on the process this industry has brought forth both admiration and hullabaloo It is no doubt that pharmaceutical industry in the U. S is among the biggest industries and contributes significantly to the country’s economy.
Organizations endeavor to remain as market leaders within there respective industries and these businesses are faced with many challenges in their current business undertakings and there is a need for them to fight for their survival that result from global events and competition which affects them either positively or negatively. The only solution to such problems is firms should employ unique marketing strategies that will capture the interest of there customers. (Blevins, 1995)
Global events and competition affects almost all contemporary businesses including pharmaceutical firms and organizations are increasingly facing challenges as a result of the ever changing external and internal environments. The economic and political linkages involving the migration of money, products, and people within and outside national boundaries together with ideas and values have increased the pace of transformation, indistinctness, uncertainty, and unpredictability.
For firms to remain competitive in the market companies need to develop engage itself in creative marketing strategies that will increase the sales of there products. Pharmaceutical products produced should be of high quality and affordable to consumers as well as advertising these products in more appealing and attractive way.