The influence of global marketing strategies on the performance of pharmaceutical companies in Kenya
Amboka, Everlyne M
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In order to keep up with the competition and changing consumer needs and wants in the competitive business environment, pharmaceutical companies need to use effective global marketing strategies in managing customer needs for them to survive. Changing consumer needs and business environment has necessitated pharmaceutical companies to adopt global marketing strategies to gain competitive edge hence attracting and retaining customers. Product, price, place, and promotion strategies have remained key roadmap of any successful pharmaceutical company in the global market. Adoption of effective global marketing strategies promotes customer loyalty hence social economic developments in Kenya. This was a descriptive cross-sectional study. The target population for this study was the staff at the marketing departments of the 43 pharmaceutical companies operating in Kenya. The study carried out a census of all the staff within the department of marketing in 43 pharmaceutical companies. This study utilized a questionnaire as the data collection tool. Data collected was analyzed through descriptive statistics with the help of SPSS. Presentation of data was done using tables. It was established that quite a number of pharmaceutical companies use global marketing strategies but on a little extent due to internal and external challenges in the business environment like high costs associated with marketing the pharmaceutical products, inadequate training of staff on customers care relations by the pharmaceutical firms and ineffective policies formulated by the Government and relevant authorities to promote the pharmaceutical industry. Therefore, the study recommends that pharmaceutical companies should embrace product, price, place and promotion global strategies for their survival in the dynamic and competitive business environment through embracing information technology.