Promotional Strategy of Pharmaceuticals Industry in Bangladesh: A Case Study on Beximco Pharmaceuticals Ltd & Square Pharmaceuticals Ltd.

Abstract

The pharmaceutical industry plays a crucial role in providing essential healthcare products and services, and its success heavily relies on effective promotional strategies. This thesis paper investigates the promotional strategies employed by two prominent pharmaceutical companies in Bangladesh, Beximco Pharmaceuticals Ltd. and Square Pharmaceuticals Ltd. The study aims to analyze the promotional techniques and their impact on the market performance of these companies. To achieve the objectives, a comprehensive literature review was conducted, encompassing various aspects of pharmaceutical promotional strategies and their significance in the context of the Bangladeshi market. The research methodology employed a mixed-method approach, incorporating both qualitative and quantitative techniques. Primary data were gathered through interviews with key personnel from Beximco Pharmaceuticals Ltd and Square Pharmaceuticals, while secondary data were collected from company reports, industry publications, and relevant academic sources. The analysis of market performance indicators demonstrated a positive correlation between effective promotional strategies and business growth. Beximco Pharmaceuticals Ltd and Square Pharmaceuticals witnessed significant increases in market share, brand recognition, and sales revenue, indicating the effectiveness of their promotional initiatives. The study also identified specific challenges faced by the companies in implementing their promotional strategies, such as regulatory constraints, competitive pressures, and changing customer preferences. Overall, this thesis contributes to the understanding of promotional strategies in the pharmaceutical industry, particularly in the context of Bangladesh. The research highlights the importance of tailored promotional approaches and the integration of traditional and digital marketing methods to effectively reach healthcare professionals and consumers. The findings can serve as a valuable resource for pharmaceutical companies, marketing professionals, and policymakers to enhance their promotional efforts and drive sustainable growth in the pharmaceutical sector of Bangladesh.