Marketing Practices of Pharmaceuticals Industries in Bangladesh. A study on Radiant Pharmaceuticals Limited.

Abstract

The industry demands a different set of marketing practices for pharmaceutical companies in contrast to most other businesses. The report titled ‘Marketing Practices of Radiant Pharmaceuticals’ has been prepared to fulfill the thesis program, which is a requirement of the EMBA program. The primary purpose of this descriptive report is to provide an insight into the marketing practices of the company Radiant Pharmaceuticals. Both primary and secondary data have been used to conduct this study. The report consists of six chapters: background, company profile, methodology, analysis and findings, internship experience, and recommendations. In recent years, Radiant Pharmaceuticals Limited has been focused on increasing its sales volume by aggressively promoting its products and strategically developing distribution points. At the same time, they are developing marketing strategies, the company factors in the economic and market conditions, and the healthcare and research sector. Radiant Pharmaceuticals Limited utilizes the 4Ps of the marketing mix as a framework for its marketing practices. Although the company is doing well in increasing sales volume, its competitors still dominate the market and hold the most significant market shares. Radiant Pharmaceuticals Limited should focus on R&D as well as their branding and communication strategy to solidify their brand presence and increase their market share. They need to introduce a unique product before competitors by conducting market research and analysis. The distribution channel of Radiant Pharmaceuticals Limited needs to improve for faster supply. Although Radiant Pharmaceuticals Limited remains profitable and successful in marketing their products, their competitors are still holding the lion’s share of the market due to Radiant Pharma not having a solid brand image.