Square Pharmaceutical Limited-Bangladesh Company Profile:| | SQUARE today symbolizes a name – a state of mind. But its journey to the growth and prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. Square Pharmaceuticals Ltd. , the flagship company, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and is now on its way to becoming a high performance global player.
SQUARE Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the 1st position among all national and multinational companies since 1985. It was established in 1958 and converted into a public limited company in 1991. The sales turnover of SPL was more than Taka 11. 46 Billion (US$ 163. 71 million) with about 16. 43% market share (April 2009– March 2010) having a growth rate of about 16. 72%. Looking Beyond The Horizon: SQUARE Pharmaceuticals Limited has extended her range of services towards the highway of global market.
She pioneered exports of medicines from Bangladesh in 1987 and has been exporting antibiotics and other pharmaceutical products. This extension in business and services has manifested the credibility of Square Pharmaceuticals Limited. SQUARE Strives For: * It is in SQUARE strives, above all, for top quality health care products, at the least cost reaching the lowest rungs of the economic class of people in the country. We value our social obligations. * It owes to our shareholders and strive for protection of their capital as well as ensure highest return and growth of their assets.
* It strives for best compensation to all the employees who constitute the back-bone of the management and operational strength of the Company through a pay-package composing salary/wages, allowances, bonus, profit participation, leave salary and superannuation & retirement benefits.
* It strives for best co-operation of the creditors & debtors the banks & financial institutions who provide financial support when we need them, the suppliers of raw materials & suppliers who offer them at the best prices, the providers of utilities-power, gas & water etc.and the customers who buy our products & services by redeeming their claim in time by making prompt payment and by distributing proper product on due dates.
* It strives for fulfillment of our responsibility to the Government through payment of entire range of due taxes, duties, and claim to various public agencies. * It strives, as responsibilities citizen, for a social order devoid of malpractices, anti-environmental behaviors, unethical and corruptive dealings.
* It strives for practicing good governance in every sphere of activities covering inter alia not being limited to, disclosure & reporting to shareholders holding AGM in time, distribution of dividends and other benefits to shareholders, reporting/dissemination of price sensitive information, acquisition of share by insiders, recruitment & promotion of staff, procurement & supplies, sale of assets etc. all that directly and indirectly affect the interest of concerned groups – the shareholders, the creditors, suppliers, employees, government and the public in general.
VISION,MISSION AND OBJECTIVE| | VISION: We view business as a means to the material and social wellbeing of the investors, employees and the society at large, leading to accretion of wealth through financial and moral gains as a part of the process of the human civilization. MISSION: Our Mission is to produce and provide quality & innovative healthcare relief for people, maintain stringently ethical standard in business operation also ensuring benefit to the shareholders, stakeholders and the society at large. OBJECTIVE:
Our objectives are to conduct transparent business operation based on market mechanism within the legal & social frame work with aims to attain the mission reflected by our vision. SQUARE’S QUALITY POLICY: | Ensure strict compliance with WHO cGMP standards and local regulatory norms in every phase of sourcing & procuring quality materials, manufacturing, quality assurance and delivery of medicines. Ensure all activities through documented Quality Management System (QMS) complying International Standard requirements of ISO 9001 through continuously developing Human Resources by regular training and participation.
SQUARE is committed to undertake appropriate review, evaluation and performance measurement of processes, business activities and Quality Management System for continual improvement to ensure highest standard, customer satisfaction, developing human resources and company’s growth. | | | CHRONOLOGY SINCE INCEPTION| | 1958 : | Debut of Square Pharma as a Partnership Firm. | | | 1964 : | Converted into a Private Limited Company. | | | 1975 😐 Technical Collaboration with Janssen Pharmaceuticals, Belgium, a subsidiary of Johnson and Johnson International, USA. | | | 1982 😐 Licensing Agreement signed with F.
Holffman-La Roche ; Co Ltd. , Switzerland. | | | 1984 😐 Achieved first position in the Pharmaceutical Market of Bangladesh among all national and multinational companies. | | | 1987 😐 Pioneer in pharmaceutical export from Bangladesh. | | | 1991 😐 Converted in to a Public Limited Company | | | 1994 😐 Initial Public Offering of Square Pharmaceutical Shares. | | | 1995 : | Chemical Division of Square Pharmaceuticals Ltd. starts production of pharmaceutical bulk products (API). | | | 1997 😐 Won the National Export trophy for exporting pharmaceuticals.
| | | 1998 : | Agro-chemicals ; Veterinary Products Division of Square Pharma starts its operation. | | | 2001 😐 US FDA/UK MCA standard new Pharmaceutical factory goes into operation built under the supervision of Bovis Lend Lease, UK. | | | 2002 😐 Square enlisted as UNICEPs global supplier. | | | 2004 😐 Signing of agreement with ROVIPHARM, Vietnam to manufacture and market. Square products under license in Vietnam. | | | | Secured the top position for the best published accounts and report for 2003 in the manufacturing category for transparency and excellence in corporate reporting. | | | 2005 😐
New State-of- the-Art Square Cephlosporins Ltd. goes into operation; built under the supervision of TELSTAR S. A. of Spain as per US FDA/ UK MHRA requirements. | | | 2007 😐 Square Pharmaceuticals Ltd. , Dhaka Unit gets the UK MHRA approval. | | | 2009 😐 Starts manufacturing of insulin maintaining quality standards of US FDA ; MHRA. Dedicated hormone ; steroid products manufacturing facility complying with the current Good Manufacturing Practice (cGMP) of WHO, US FDA ; UK MHRA starts operation. | | Advancement And Financial Overview:
Figure : Advancement And Financial Graph | Profile of Chairman| | Mr. Samson H Chowdhury was born on 25 February, 1926. After completing education in India he returned to the then East Pakistan and settled at Ataikula village in Pabna district where his father was working as a Medical Officer in an outdoor dispensary. In 1952, he started a small pharmacy in Ataikula village which is about 160 km off capital Dhaka in the north-west part of Bangladesh. Mr. Samson H Chowdhury then ventured into a partnership pharmaceutical company with three of his friends in 1958.
When asked why the name SQUARE was chosen he remembers – “We named it SQUARE because it was started by four friends and also because it signifies accuracy and perfection meaning quality” as they committed in manufacturing quality products. | | | Now that small company of 1958 is a publicly listed diversified group of companies employing more than 28,000 people. The current yearly group turnover is 616 million USD. SQUARE today is a name not only known in the Pharmaceutical world, it is today a synonym of quality- be it toiletries, health products, textiles, Agro Vet products, information technology and few more.
All these were possible due to his innovative ideas, tireless efforts, perseverance and dedication with self confidence which contributed to his successful achievements. Now the name “ SQUARE ” inspires trust. Under his dynamic leadership, SQUARE is set to continue its progress globally. Association : * President, Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka, in 1996 and 1997. * Chairman, Micro Industries Development Assistance ; Services (MIDAS). * Member, Advisory Committee of the Bangladesh Association of Pharmaceutical Industries. * Founder President, Bangladesh Association of Publicly Listed Companies.
* Member, Executive Committee of Bangladesh French Chamber of Commerce and Industry. * Chairman, Transparency International, Bangladesh Chapter, 2004 – 2007. * Vice-President: International Chamber of Commerce, Bangladesh * Chairman: Central Depository Bangladesh Ltd. * Life member: The Dhaka Club Limited, Dhaka * Former Director: The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). * Advisor ; Former President: Bangladesh Aushad Shilpa Samity. * President: Bangladesh Herbal Products Manufacturing Association. * Chairman: Mutual Trust Bank Limited.
* Chairman ; CEO: Sabazpur Tea Estate, Suzaul Madrasha Baralekha, Moulovibazar. Accolades : * “Business Executive of the Year” by American Chamber in Bangladesh in 1998. * “Best Entrepreneur of the Country for the year 2000 – 2001” by the Daily Star and DHL Worldwide Express. * “Special contribution in country’s industrial and commercial sectors for the year 2003” by “Merchantile Bank Award 2003” * For Uncompromising Business Ethics, Honesty ; Transparency of the year 2005 by “Banker’s Forum Award – 2005”. * Recipient of ICAB National Award “Best Published Accounts and Reports 2006 in the Manufacturing Sector”.
* Recipient of NBR Award one of the Highest Tax-Payers in 2007-2008. * Recognized by the National Board of Revenue (NBR) as one of the top ten tax payers of the country since 2005. * Recipient of CIP (Industry) 2009-2010 status by the Government of The Peoples Republic of Bangladesh. | | Name of the product: HALOBET Full Name: Halobet Propionate INN 0. 05%mg Composition: Halobet 0. 05% Cream | Halobetasol Propionate | 0. 05% | 10 gm | Halobet 0. 05% Ointment | Halobetasol Propionate | 0. 05% | 10 gm | Structure: Figure:Structural formula and figure Figure:Cream and Ointment Information About The Producct:
Figure : Shortest Summarized Information Halobetasol Propionate is a super potent topical corticosteroid with an additional Fluorine at the 6-a position. This additional fluorine further increases its topical anti-inflammatory and anti-proliferative activities. Halobetasol Propionate is clinically more effective, better tolerated and better accepted by patients than Clobetasol Propionate. Pharmacology: Like the other topical corticosteroids,Halobetasol Propionate has anti-inflammatory,anti-pruritic and vasoconstrictive actions. The mechanism of the anti-inflammatory activity of the topical corticosteroids,in general, is unclear.
However,corticosteroids are thought to act by the induction of phospholipase A2 inhibitory proteins collectively called lipocortins. it is postulated that these proteins control the biosynthesis of potent mediators of inflammation such as postaglandis and lieucrotines by inhibiting the release of their common precursor,arachridonic acid is released from membrane phospholipids by phospholipids A2. Indication: Halobetasol Propionate 0. 05%is a super high potent corticosteroid indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses.
Treatment beyond two consecutive weeks is not recommended, and the total dosage should not exceed 50 g/week because of the potential for the drug to suppress the Hypothalamic-Pituitary-Adrenal(HPA) axis. Halonate Halobetasol Propionate Ointment, 0. 05% contains halobetasol propionate, a synthetic corticosteroid for topical dermatological use. The corticosteroids constitute a class of primarily synthetic steroids used topically as an anti-inflammatory and anti-pruritic agent. Chemically halobetasol propionate is 21-chloro-6? , 9-difluoro-11? ,17-dihydroxy-16? -methylpregna-1, 4-diene-3-20-dione, 17-propionate, C25H31ClF2O5.
It has the following structural formul alobetasol propionate has the molecular weight of 485. It is a white crystalline powder insoluble in water. Each gram of Halobetasol Propionate Ointment contains 0. 5 mg/g of halobetasol propionate in a base of aluminum stearate, beeswax, pentaerythritol cocoate, petrolatum, propylene glycol, sorbitan sesquioleate, and stearyl citrate. Like other topical corticosteroids, halobetasol propionate has anti-inflammatory, antipruritic and vasoconstrictive actions. The mechanism of the anti-inflammatory activity of the topical corticosteroids, in general, is unclear.
However, corticosteroids are thought to act by the induction of phospholipase A2 inhibitory proteins, collectively called lipocortins. It is postulated that these proteins control the biosynthesis of potent mediators of inflammation such as prostaglandins and leukotrienes by inhibiting the release of their common precursor arachidonic acid. Arachidonic acid is released from membrane phospholipids by phospholipase A2. The extent of percutaneous absorption of topical corticosteroids is determined by many factors including the vehicle and the integrity of the epidermal barrier.
Occlusive dressings with hydrocortisone for up to 24 hours have not been demonstrated to increase penetration; however, occlusion of hydrocortisone for 96 hours markedly enhances penetration. Topical corticosteroids can be absorbed from normal intact skin. Inflammation and/or other disease processes in the skin may increase percutaneous absorption. Human and animal studies indicate that less than 6% of the applied dose of halobetasol propionate enters the circulation within 96 hours following topical administration of the ointment.
Studies performed with Halobetasol Propionate Ointment indicate that it is in the super-high range of potency as compared with other topical corticosteroids. Halobetasol Propionate Ointment 0. 05% is a superhigh potency corticosteroid indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses. Treatment Dosage and Administration The dose is the amount of drug taken at any one time.
This can be expressed as the weight of drug (e. g. 250 mg), volume of drug solution (e. g. 10 mL, 2 drops), the number of dosage forms (e. g.1 capsule, 1 suppository) or some other quantity (e. g. 2 puffs). The dosage regimen is the frequency at which the drug doses are given. Examples include 2. 5 mL twice a day, one tablet three times a day, one injection every four weeks.
The total daily dose is calculated from the dose and the number of times per day the dose is taken. The dosage form is the physical form of a dose of drug. Common dosage forms include tablets, capsules, creams, ointments, aerosols and patches. Each dosage form may also have a number of specialized forms such as extended-release, buccal, dispersible and chewable tablets.
The strength is the amount of drug in the dosage form or a unit of the dosage form (e. g. 500 mg capsule, 250 mg/5 mL suspension). The route of administration is the way the dosage form is given. Common routes of administration include oral, rectal, inhalation, nasal and topical. The optimal dosage is the dosage that gives the desired effect with minimum side effects. There are many factors taken into consideration when deciding a dose of drug – including age of the patient, weight, sex, ethnicity, liver and kidney function and whether the patient smokes.
Other medicines may also affect the drug dose. Dosage instructions are written on the doctor’s prescription or hospital chart, and on the pharmacy label of a prescribed medicine. Dosage instructions are also found on the packaging and inserts of over-the-counter medicines. Information about Drug Side Effects A side effect is usually regarded as an undesirable secondary effect which occurs in addition to the desired therapeutic effect of a drug or medication. Side effects may vary for each individual depending on the person’s disease state, age, weight, gender, ethnicity and general health.
Side effects can occur when commencing, decreasing/increasing dosages, or ending a drug or medication regimen. Side effects may also lead to non-compliance with prescribed treatment. When side effects of a drug or medication are severe, the dosage may be adjusted or a second medication may be prescribed. Lifestyle or dietary changes may also help to minimize side effects. Symptoms: Use In Pregnancy ; Lactation: Topical corticosteroids should be used during pregnancy only if the potential benefit justifies the potential risk to the fetus.
It is not known whether topical administration of corticosteroids could result in sufficient systematic absorption to produce detectable quantities in breast milk. Therefore caution should be exercised when topical corticosteroids are administered to a nursing woman. Adverse Reaction: The following adverse effects have been reported infrequently with topical corticostoreiods.
These reactions include burning,itching,irritation,dryness,folliculitis,,acneiform ruptions,hypopigmention,perioral dermatitis, allergic contact dermatitis, secondary infections, skin atrophy,striae, and miliaria.
Storage: Store below 30 degree Celsius. Do not freeze. Keep all medicines out of reach of children. How Supplied: Halobet 0. 05% Cream | Halobetasol Propionate | 0. 05% | 10 gm | Halobet 0. 05% Ointment | Halobetasol Propionate | 0. 05% | 10 gm | Superior to clobetasol Propionate in the Treatment of Psoriasis: Study type:Double-blind,parallel group, multicenter trial. Number Of Patient:134 patients with severe, localized plaque psoriasis(64 Men;70 Women). Drugs Used:Halobetasol Propionate 0. 05% ointment; Clobetasol Propionate 0. 05% ointment. PRODUCT RESEARCH AND REASON TO PROMOTED TO MARKET:
Though Square Pharmaceutical company is now market leader in Pharmaceutical products eventhough within this time many renowned pharmaceutical company have been promoted to a competitive position to compete Square. GSK is now one of the leading most Multinational Pharmaceutical Company in Pharmaceutical Sector in Bangladesh. They have introduced their one product similar to Halobet. But this product is comparatively costly for the general people and it takes long time to cure that specific disease. For competing GSK in this aspect Square took a initiative and introduced their product named Halobet.
They introduced this product with a specific moto”Similar But Not The Same”. It is the pioneer Brand in the Bangladesh. They introduced for the first time in Bangladesh and trying to compete GSK. They will provide comparatively less cost and their product will take much more less time to cure that same disease with less side effect than DERMOVATE(Introduced by GSK). Marketing Strategy: Distribution Strategy: Distribution Strategy deals with the marketing activities and institutions involved in getting the right goods or services to the firm’s customers.
Two majore components of an organization’s distribution chanel and physical distribution Distribution chanels are the paths that products and title to them follow from producer to consumer or business user. They are the means by which all organizations distribute their goods and services. Physical Distribution is the actual movement of these products from the producers to the users. Physical distribution covers a broad range of activities,including customers service,transportations,inventory control,materials handling orders processing and warehousing. Distribution Strategy of Square Pharma:
Square Pharmaceutical Ltd is quiet self sufficient company in Bangladesh. Especially they have own arrangements to advertise,procurement,distribute,deliver etc. Their administration and management team is that much strong that do not take any market intermediary to supply their product from the factory to the consumers. They have specific organized department to manage all these things. So they are following the distribution channels using marketing intermediaries. But the mediaries what they use all are their own service. They have their own wholesaler and retailer. Distribution Channels Using Marketing Intermediaries:
Although Direct channel allows simple and straightforward connections between producers and their consumers,eventhough it is not the best mean of every instance. Some products sell in small quantities for relatively low prices to thousands of widely scattered consumers. Makers such products cannot cost effectively contact each of their customers,so they distribute products through specialized intermediaries called wholesalers and retailers. SQUARE has their own whole seller and retailer. That is called DEPO. They have two factories through which they complete their supply chain.
Those two places are: 1. Dhaka 2. Pabna From these two place all products are supplied. Incase of Halobet it is not different. It is applicable for all products produced by SQUARE. They have total 26 DEPO In 26 districts/places of our country. From Pabna maximum products are produced and distributed to the most of the cases of Bangladesh. Like Pabna,Rajshahi,Rangpur,Bogra,Dinajpur,Khulna,Barisal etc. Mainly they provide the opposite part of River Padma by their Pabna factory. Dhaka Factory produces limited amount of products and their target areas also comparativel less than that of the Pabna.
It is situated at Tejgaon. They cover this side of Padma like Comilla,Chittagong,Naryanganj,Sylhet etc. It is established recently. For this reason yet it fails to supply all parts of this side of a Padma river. So still whole Bangladesh depends mostly on Pabna Factory which is situated at Hospital Road,Salgaria in Pabna city. Dhaka is still dependent on that one . So in the distribution list Dhaka is there. SQUARE has 26 DEPO at various parts of Bangladesh. According to the demand all products are provided to different places on the up todate time. DEPO Managers are highly responsible for that.
They have to monitor each and every activities with their most possible sincerity. Otherthan that smooth supply is not possible. Pharmaceutical product is the one of the most sensitive product to deal with. So experienced and educated human resource is required to monitor all the administration. Distribution Process Of SQUARE Pharma All Over The Bangladesh: Figure: Distribution Of products All over the Country Process Of Distributing: Halobet is the newest product by SQUARE. Its full distribution channels are operated by the top management officers of SQUARE with their most sincerity and responsibility.
Because smooth supply system is one of the most important issue for competition. For Halobet SQUARE is following their own strategical distribution model. * All DEPO’s are giving order to the main factory at the end of the day. The factory manager forecast and analyze their needs and demands. According to that the DEPOs are getting supply. * It Is a day to day supply. Not monthly,weekly or quarterly. * Under each DEPO there are specific region and under every region there is division. Products are supplied as per the region and division. * DEPO’s will be getting one or two days extra product.
Factory mangers forecast the daily supply and issue 1/2 days extra product for that * From all divisions products are distributed to different shops and markets those who are the local retailer. * Only in this step they are using local retailers. other than this all procedures and steps are managed by SQUARE’S own services. Different DEPOS’s Of SQUARE PHARMA all over Bangladesh: Name of the Region Detail Address Contact Number Dhaka| 355-356, Tejgaon Industrial Area, Dhaka-1208. | (880-2) 8828775| Pabna| Hospital Road, Salgaria, Pabna. | (880-731) 66580| Bogra| 877/A, MS Road, Bakshi Bazar, Malati Nagar, Bogra|./
(880-051) 64747| Rangpur| South Guptapara,Kaminikutir Sub Post Office Rangpur-5400| (880-0521) 63588| Khulna| Alhamdulillah, 25 Usufe Road, Mirzapur, Khulna-9100| (880-041) 732330, 724654 | Barisal| 502/532 South Alekanda, 1 No. C ; B Pool, C ; B Road, Barisal. | (880-0531) 53661, 56778| Comilla| 400/363, Shishu Mangol Road, Kandirper Comilla. | (880-081) 72320| Mymensingh| 5/A/04 ; 5/A/05, Shaheb Quarter, Kachijuli, Mymensingh | (880-091) 55143 | Chittagong| House No-1/C, Baijid Bostami Road, East Nasirabad, Chittagong-4000. | (880-031) 654423| Maizdee| 234/B, Hospital Road, Maizdee Court, Noakhali.
| (880-0321) 61683| Sylhet| Sabina Mohal, 44, Payra, Darshandewry, Dorga Mohalla, Sylhet. | (880-0821) 725298| Tangail| Biswas Betka, Dhaka Road, Tangail| (880-0921) 53488| =| | | Rajshahi| House # 175, Sector # 3, Upasahar Housing Estate, Sopura, Rajshahi-6202| (880-0721) 760877| Faridpur| Mission Road, Christian Mission, Police Line, Faridpur| (880- 0631) 63561| Naryanganj| Holding No. – 5, Khanpur, Main Road | 7632990 | Jessore| Plot-1, Sector-10, Housing Estate Shaikhati, Bablatola, Dhaka Road, Jessore-7400| 042162419| Brahamanbaria| Bhadughar, B-Baria-3400| 085157372| Dinajpur| Bot-toli, Nayanpur, Dinajpur-5200| 053163260|.
Feni| 2/3, Aloo Bhuban, Mukther Bari, Uttar Charipur, Feni-3900 | 033173067| Figure:Chart of DEPO’s Address | | | Selecting Distribution Intensity: Intensive Distribution: It involves placing a firm’s products in nearly every available outlet. Generally,intensive distribution suits low priced convenience goods. Halobet Is under intensive distribution. We have to use it every day and its cost price is also less,and after a certain short period of time it will loose its expiry date. This Intensive Distribution is done by SQUARE by its wholesalers and retailers.
They are provided with sufficient products from their neares DEPOs. The promotional mix: The promotional mix contains 2 types of components. Between these two types of components, Square pharmaceutical company uses the personal selling strategy. In this type of compopnent, people can communicate with the seller through face-to-face meeting,phonecalls,video conferences or through computer links Objectives of Promotional Strategy:
Square pharmaceutical company pursues multiple promotional objectives at a time. Providing information is an objective of promotional strategy. For providing informations, they use pads,newspaper,websites etc.
Informations about the cause,riskfactors,prevention of diseases. Sometimes warnings and usage guidelines are attached. Differenting s product is another objective of promotional strategy. For Halobet, Square pharmaceutical company wants to establish this product by using comparism. Darmovate is the leading cream of GSK in this sector. Square introduces Halobet by comparing with Darmovate.
Square differs their product from other companies by price, quality and services. Promotional planning: For promotional planning, Square pharmaceutical company also spend their time. They can promote their product in many ways.
They sponsor many popular shows of television or sometimes popular game events too. Advertising: Advertising is a good way for introducing a product to the market. It is the most visible form of non-personal promotion. Square pharmaceutical company use doctors for their product’s advertising. They give huge samples to the doctors and give them many gifts also for advertising their products. For that, doctors tell the people for taking their medicines. There are two types of advertising. Square use cause advertising for their product. They want that, people will use their products for curing. That is a cause.
Though Halobet is in a growth stage, Persuasive advertising is needed now. As a new product, is has a growing market because of it’s good service. Now it turns into maturity stage, so Square use parsuasive advertising for selecting their customers and offering better services than others. Square pharmaceutical company use advertising media for introducing Halobet to those people who don’t know about this product. They use newspapers, magazines,internet advertising, sponsorship for introducing their new product. Daily and weekly newspapers continue to dominate local advertising so that people can know about various products.
but sometimes people discard their newspapers after reading. So, almost every newspapers now maintain websites. Magazines are also use in advertising. But now-a-days, internet advertising is better than any other media. Square use display adds for advertising their products in various websites. Sales promotion: Square pharmaceutical company maintain some steps for promotoining their products. To introduce Halobet cream they also maintain some steps. Door to door selling: Specially Square pharmaceutical company use door to door selling for promoting their product,Halobet.
They send representative to pharmacies for door to door selling. Stikering and lebeling: Square make stikaers and other lebels of Halobet and distribute them to the doctors and pharmasists for advertising their product. By other necessary things: They also make calenders, paper-weights, pads and give these things to doctors and shopkeepers for promoting Halobet. Promoting Doctors: One of the main moto of Square pharmaceutical company is promoting doctors. This is very important for the pharmaceutical companies. Square take many steps for promoting doctors.
Such as: they offered doctors for better percentage from the other companies, they give huge samples and gifts which are related to Halobet etc. they know that if doctors are writing there products in prescriptions, then there product will be automatically sold. That’s why they want to promote doctors for their products. Promotion Through Periphery Region: Specially in rural areas and less developed areas are under this periphery region. There are certain Pharmacy in these regions. There are no pharmacist,rather there are only salesman/shopkeeper. So by promoting them and by replacing DERMOVATE by HALOBET this sort of promotion could be done.
Pushing And Pulling Strategy: Pushing Strategy is that manufacture will provide their product to wholesalers or retailers with a margin of certain profit and they will share certain amount of profit percentage. For HALOBET SQUARE can use this pushing strategy very well for sales promotion. But the motive of Square is not profit sharing. Square is the leading Pharmaceutical company of Bangladesh,so they achieved enough name and fame within this time. All kind of retailer outlet are normally very interested to keep their product. Because its demand is so high.
But since HALOBET is totally a new product so SQUARE can apply their pushing strategy by supplying maximum amount of their product,even more than the retailers demand. Normally the consumers dependability rate on Square product is more than any other company’s one so it is quiet easy to use the pulling strategy for sales promotion. By their quality they already motivated the consumers. So already this specific strategy is done. Pricing: Pricing is the process of determining what a company will receive in exchange for its products. Pricing factors are manufacturing cost, market place, competition, market condition, and quality of product.
Pricing is also a key variable in microeconomic price allocation theory. Pricing is a fundamental aspect of financial modeling and is one of the 4 Ps of the marketing mix. The other three aspects are product, promotion, and place. Price is the only revenue generating element amongst the four Ps, the rest being cost centers. Pricing is the manual or automatic process of applying prices to purchase and sales orders, based on factors such as: a fixed amount, quantity break, promotion or sales campaign, specific vendor quote, price prevailing on entry, shipment or invoice date, combination of multiple orders or lines, and many others.
Automated systems require more setup and maintenance but may prevent pricing errors. The needs of the consumer can be converted into demand only if the consumer has the willingness and capacity to buy the product. Thus pricing is very important in marketing. Pricing Strategy of HALOBET Done By Square: Basically Square Pharmaceutical Ltd has introduced this quality of product for the first time in Bangladesh. Their main target to compete DERMOVATE by GSK. So for competinig it ,they had to apply lots of strategies. Halobet is much more effec.