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Pfizer Case Study

 

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Table of Contents

I.

Introduction-Challenges and issues pertaining to company under study II.

Vision/Mission Statements III.

External Analysis A.

General Environment B.

Industry Analysis C.

Competitive Analysis D.

Summary and conclusion IV.

Internal Analysis A.

Management B.

Marketing C.

Finance / Accounting D.

Production / Operations E.

Research and Development F.

Management Information Systems G.

Summary and conclusion V.

Strategy Formulation A.

The Threats-Opportunities-Weaknesses-Strengths (TOWS) Matrix B.

The Strategic Position and Action Evaluation (SPACE) Matrix C.

The Boston Consulting Group (BCG) Matrix D.

The Internal-External (IE) Matrix E.

The Grand Strategy Matrix F.

The Quantitative Strategic Planning (QSPM) Matrix VI.

Strategic Objective and the Recommended Strategies A.

Strategic and Financial Objectives B.

Recommended Business and Organizational Strategies C.

Financial Projections and Overall Evaluation of the Strategies Proposed VII.

Action Plans and Departmental Programs VIII.

Strategy Evaluation, Monitoring and Control Appendices Bibliography

With the creation of Viagra, Pfizer created a blue ocean in lifestyle drugs by going beyond the boundaries of the pharmaceutical industry at the time.

Pfizer’s wildly successful blue ocean strategic move that launched Viagra challenged the functional-emotional orientation of the pharmaceutical industry. It shifted its focus from the pharmaceutical industry’s largely functional orientation – medical treatment – to lifestyle enhancement, an emotional orientation.

Like Viagra, are you willing to challenge the functional-emotional orientation of your industry to create new market space, as path five of blue ocean strategy’s six paths framework suggests? When companies are willing to challenge the functional-emotional orientation of their industry, they can often create new market space. Emotionally oriented industries offer many extras that add price without enhancing functionality. Stripping away those extras may create a fundamentally simpler, lower-priced, lower-cost business model that customers would welcome. Conversely, functionally oriented industries can often infuse commodity products with new life by adding a dose of emotion and, in so doing, can stimulate new demand.