Lupin Marketing Plan Essay Example | Topics and Well Written Essays - 4500 words

Lupin Marketing Plan - Essay Example Perceptual map has also been prepared to analysis the competitor’s position in the industry so that Lupin can implement strategies accordingly along with the 4Ps. Finally to measure the effectiveness of the business plan, balance scorecard will be used which will determine the working and effectiveness of the strategies adopted and if any changes to be made in the business plan. Contents 1.Executive Summary 2 Contents 3 2. Introduction 5 3. Situation Analysis 5 4. SWOT Analysis 8 5. Evaluation of Alternative Strategies 10 6. Objectives 11 7. Recommended Strategy 12 8. Economic Evaluation 15 9. Implementation and Control 16 9.1 Managing, measuring and controlling 16 9.2 Contingency plan 17 Reference 18 Bibliography 19 Appendix 20 25 2. Introduction With globalization acting as a permanent as well as irreversible part of the economy and economic life providing the firms with both opportunities as well as challenges to prove themselves and compete in the competing market environm ent. Therefore international expansion has become one of the prominent strategic responses towards global dynamics for organizations. International expansion can be defined as a process through which the multinational enterprise enters and also invest in some foreign country in pursuit of strategic objectives (Luo, 1999, p. 5). The project report highlights the process of internationalization and the benefits involved in the process of going global. The company taken into consideration is Lupin pharmaceuticals which is among the top five pharmaceuticals companies in India. Lupin Pharmaceuticals plans to enter America with its product generic, specialty and API. The reason behind choosing America is that US is the largest market for pharmaceuticals and is also global leader in biopharmaceutical research. The US market provides a free pricing market and a favorable and also regulatory environment (Select USA, n.d). By entering the US market particularly America, Lupin aims to capture the market share and build in brand value in the international market. 3. Situation Analysis 3.1 Business Environment Political Pharmaceutical industry has over the years gathered political focus as well as pressure from the government across the globe and its impact has been highly experienced in US industry. The US pharmaceutical industry tends to operates differently as compared to other national industries. Consumers and patients do not pay for their drugs directly, but receive them through government run healthcare systems. Political factors play a huge role in the regulation of distribution, manufacturing and also sale of the pharmaceutical with regards to safety of its consumer. The Food and Drug Administration is the regulatory body in the US and sets a standard of quality (Castner, Hayes & Shankle, 2007). Economic The US pharmaceutical industry has been for decades among the most profitable and also growing sector encountered by the American economy.