Marketing Strategy of AstraZeneca analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on AstraZeneca marketing mix, help the brand succeed in the market. Let us start the AstraZeneca Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in AstraZeneca marketing strategy can be explained as follows:
AstraZeneca is one of the leading pharmaceutical products manufacturers in the world. It has a vast range of products under its marketing mix product portfolio for major disease areas and has various brands under it. The list of AstraZeneca products is as follows:
5) Infectious Diseases
8) Respiratory and Inflammatory Diseases
AstraZeneca’s medicine Tremelimumab was approved for the treatment of a disease known as Mesothelioma in the US as an orphan drug.
The company’s key segments are Healthcare Segment which manufactures and sales pharmaceutical products and Clinical Trial Segment which provides to its group companies clinical trial services on pharmaceutical products.
AstraZeneca Price/Pricing Strategy:
Below is the pricing strategy in AstraZeneca marketing strategy:
AstraZeneca gives medicines which are aligned with the competition. Cost leadership is something which this pharmaceutical company has aimed to make its market base broad.
But a lot is required for the same like overhead control, cost reductions from experience, avoidance of marginal customer accounts, etc. and has been successfully been able to achieve is goal. AstraZeneca also takes into account the costs incurred during R&D of medicines.
Following is the distribution strategy in the AstraZeneca marketing mix:
AstraZeneca has its headquarters in London, England and its Research and Development headquarters are in Warsaw, Poland. Its other R&D units are located in Cambridge; Maryland, USA and MoIndal in Sweden. The company has robust clinical operation at more than 100 sites in India. In Chennai, India, it has In-house Global Technology Center (GTC) which provides various allied services to the company’s worldwide operations. AstraZeneca medicines and products are available at all leading pharmacies and clinics.
With the growing presence of e-commerce platforms, generic medicines are also available online.
AstraZeneca Promotion & Advertising Strategy:
The promotional and advertising strategy in the AstraZeneca marketing strategy is as follows:
AstraZeneca gives a lot of importance to its visibility through advertising and branding. Since it is a pharmaceutical brand, it does not advertise its products like other FMCG companies. It organizes various events, seminars, conferences engaging doctors, NGOs, government organisations etc spreading a positive word about its products. The brand is also promoted through print ads highlighting the efficient business and R&D efforts by the company. Hence this concludes the marketing mix of AstraZeneca.
AstraZeneca plc was founded in 1999 through the merger of Astra AB and Zeneca Group. The merger has been among the world’s largest merger in the concerned industries. It was followed by the series of corporate acquisitions in the same industry.
The Anglo-Swedish multinational pharmaceutical and biopharmaceutical company is a public limited company headquartered in Cambridge, England. AstraZeneca has its subsidiary MedImmune.
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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