Research On Differentiation Marketing Strategy Of Chinese Innovative Biopharmaceutical Medicine X

In the field of biopharmaceuticals,Chinese pharmaceutical enterprises have been facing fierce market competition from giant multinational pharmaceutical companies,there exists a certain gap in the types,quantity and sales scale of biopharmaceuticals in the market between China and the global market,the sales of biopharmaceuticals in China only accounted for 2% of the global market.On the other hand,competition in biopharmaceutical market is becoming homogeneous and more and more intense,it becomes faster for new products to enter the market,the time for present product to retain its original competitive advantage is gradually shortened with the new entrants of the same class going into market.Independently developed by a domestic pharmaceutical company in China,X product is a category-one innovative biopharmaceutical medicine with independent intellectual property rights and is for the treatment of patients with retinal neovascular disease.X product has great market growth potential,there are approximately 13 million patients with retinal neovascular disease in China,the morbidity rate of which increases with age.However,in the target biopharmaceutical market of X product the competition situation is acute,and the market is monopolized by the giant international pharmaceutical companies,in addition,the biopharmaceutical market has been upgraded rapidly.It is necessary to consider differentiation in the marketing strategy for X product in order to retain its competitive advantage.This paper is backed up by the modern marketing theory as differentiation marketing strategy,positioning theory,Porter's five forces model and SWOT analysis etc..Based on the analysis of external settings of X product and the current development status of Chinese biopharmaceutical medicines,and this paper deeply explored the competition structure and main competitors in the therapeutic area of retinal neovascular disease.Subsequently,this paper undertook an analysis and discussion of the existing marketing problems of X product: the new product of the same class entering the market intensified the homogeneity competition;price competition and promotion input increase from competitors enhanced the competition intensity;the strong entry of two major international brands turned the competition white-hot.It is needed to adopt differentiation strategy in the process of promoting X product to cope with more homogeneous and fierce competition.Through SWOT portfolio analysis,it is pointed out that differentiation marketing strategy meets the needs of growth-oriented strategy.The key to differentiation is to understand the needs of target customers and to identify the product's competitive advantage.To this effect,the author conducted market research on target customers with in-depth interviews and questionnaires.The author interviewed the ophthalmologists which factors are essential when treating the patients with retinal neovascular disease with biopharmaceuticals,and then carried out the survey by random sampling.After analyzing the results of research the key differentiation product elements of X product were extracted,including effectiveness,less injections with longer interval,accessibility and professional promotion.This paper further compared and analyzed the advantages and delivering force of these key differentiation product elements between X product and its competitors to pave the way for the positioning and differentiation strategy of X product.Finally,based on the results of above analysis,this paper positioned X product,and put forward suggestions on the differentiation strategy,including product and promotion messaging differentiation,target customer concept classification differentiation,building differentiated sales force and providing more convenient access to X product,at last consolidating medical evidence to support differentiated promotion information,to provide feasible differentiation marketing strategy for the development of X product.Based on the reality of biopharmaceutical market in China,this paper carries out the marketing analysis of a certain kind of innovative biopharmaceutical medicine.The conclusion of this paper reflects the current circumstance and environmental development trend of biopharmaceutical market in China.Through this paper's analysis,it is expected to provide references for other Chinese pharmaceutical companies whose focus is on innovative medicines when implementing the differentiation marketing strategy.