Marketing Strategy of Bayer analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Bayer marketing mix, help the brand succeed in the market. Let us start the Bayer Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Bayer marketing strategy can be explained as follows:
Bayer offers a wide range of products to its customers. There are major brands which forms the part of Bayer’s marketing mix product portfolio strategy. These products help us to find to the solutions that poses a great challenge to us. It is mainly divided into four categories. Pharmaceutical category includes products that are prescribed for women healthcare and cardiology, oncology and haematology. Bayer's top selling products include Kogenate, Betaseron, Trasylol and Cipro.
Another category for Bayer products is consumer health products. These consist of mainly products that are non-prescribed under the category dermatology, allergy, cough & cold, foot care and sun care. Apart from these two, third category includes crop science that focuses on seed that are highly valued, best pest management solutions and customer care service for agricultural methods. Animal health category includes products for farm animal and companion animals.
Bayer Price/Pricing Strategy:
Below is the pricing strategy in Bayer marketing strategy:
Pricing plays an important role in pharmaceutical industry. Bayer has always focused on quality products.
To maintain that quality, price becomes important factor. It has always followed a competitive based marketing mix pricing strategy. For most of its products, the prices are similar to the prices of its competitor’s products. But, the differentiating factor is the quality that they never compromised. They have their own sites for procurement. Thus, it reduces costs, smoothens delivery system as well as they can follow security and environmental securities as per the set global standards.
Following is the distribution strategy in the Bayer marketing mix:
Procurement management is very important for Bayer. This ensures that goods and services are available in right time at right place. This helps the smooth flow of materials in the distribution channels. They are very peculiar when it comes to choose suppliers for their products. They have defined their own code of conduct named Bayer’s supply code of conduct for suppliers. Environmental, social and governance standards decide whether to continue with existing suppliers or not. Now, these suppliers transfer the products to various certified retailers and finally through retailers, these products reach to customers.
We can say they follow a basic distribution channel of system to reach to its customer base.
Bayer Promotion & Advertising Strategy:
The promotional and advertising strategy in the Bayer marketing strategy is as follows:
Bayer founded its own sporting club named Bayer 04 Leverkusen. It is pretty famous for being a football club, but it has also participated in various other sports such as volleyball, boxing, basketball and athletics. In Germany, it is one of the largest sports club. The company also sponsors other clubs such as Dormagen, Wuppertal and many others. The company has presence in various social media platforms such as Facebook, Twitter, YouTube, LinkedIn, Instagram, etc. They have also introduced E-cards that can be sent to your near and dear once free of cost through Bayer’s world. This cover the marketing mix of Bayer.
Bayer AG, a well known name in the field of chemicals and pharmaceuticals, was founded in the year 1863 by Friedrich Bayer, Johann Friedrich Weskott. It’s headquarter is Leverkusen, North Rhine-Westphalia, Germany. It has focused mainly on healthcare products, polymers, agriculture products and human & veterinary medicines. It has around 100,000 people working together across the globe. The company is achieving its height of success for past many years. They always work for innovation so that they can come up with solutions that might pose a challenge or threat in near future. They always work for people to make their life better and better by preventing and treating diseases.
They believe in all round development starting from stakeholders to employees and finally our customers. Their mission is “Bayer: Science for a better life”.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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