Українська
Jalilova, A.
(2024).
Strategy to increase the share of sales in the pharmaceutical market.
Economics of Development,
23(1),
53-61.
https://doi.org/10.57111/econ/1.2024.53
English
Article
Strategy to increase the share of sales in the pharmaceutical market
Received 26.10.2023, Revised 02.02.2024, Accepted 22.03.2024
Abstract
The topic of sale of medical products is relevant, as the pharmaceutical industry is continuously transforming in accordance with new requirements, which forces companies and organisations to constantly adapt to changes in the environment and pay more attention to strategies for selling medical products. The purpose of the study was to analyse current trends and challenges in the healthcare sector, with a focus on increasing sales. The applied approaches include analytical, statistical, functional, system analysis, deductive, synthesis, comparison, and modelling. Research on this topic included an analysis of current practices covering strategies for increasing sales in the pharmaceutical market using the example of AstraZeneca. The main factors influencing the growth of competition in this area and the need to develop effective methods to increase the share of companies’ products in this market are analysed. The market trends, consumer preferences, and marketing strategies used in this industry are analysed. A variety of strategies were identified while analysing different approaches to increasing sales in the pharmaceutical sector. These strategies cover various aspects, such as marketing techniques, adapting to market dynamics, and strategies for attracting new customers. Based on the review of the market situation and the needs of the target audience, a comprehensive strategy was developed aimed at increasing the share of sales of specific pharmaceutical products. The main obstacles faced by pharmaceutical companies in their quest to increase their market share were identified. This study is of practical significance in using the results obtained to develop and apply strategies to increase sales of pharmaceutical products
Keywords:
healthcare; digital marketing; competition; consumer behaviour; sales optimisation
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