Pharmaceutical Business in Puerto Rico Essay Example | Topics and Well Written Essays - 1750 words

Pharmaceutical Business in Puerto Rico - Essay Example Currently, Puerto Rico is experiencing some serious problems in power supply and taxation and hence some experts predict that the region could be on its path to loosing its position as one of the leaders in pharmaceutical manufacturing unless more incentives are initiated and a shift from basic manufacturing to research based production since sophisticated production means are better for the market. The marketing objective of any business firm in to increase sales hence maximizing the profits. This cannot be achieved just like that hence a marketing plan should be put in place to be implemented systematically so that better results are achieved. Since there is a lot of competition of Puerto Rico from existing companies, the entry of a new one would necessitate a thorough and an all inclusive plan or strategy to help achieve the company objectives (Blaisdell 2000). There are three marketing approaches that will be employed and they include; company oriented, product oriented, and disease oriented strategies. The major objectives will include the following; strategic objective which aims to expand the market share and consequently enhance profitability of the firm; the company will entrench a strategic focus in the marketing strategy to help penetrate and expand the markets and to increase its productivity; the company will identify target customers to establish segmentation and product position; the marketing strategy will be implemented to assess competition and establish competitive strategy and positioning and finally the company will establish a unique marketing mix that will address the elements products, promotions, place and prices (Pathak & Escovitz 1996).. Resources The major resources that a business investor should assess before establishing a company are the availability of manpower both skilled and non skilled. Cheaper manpower enhances cost effectiveness. The infrastructure is another basic resource since distribution and transportation of raw materials will greatly rely on the infrastructure (Pathak & Escovitz 1996). For a machine to be operated, there need to be power (i.e. electricity or any other appropriate means) Puerto Rico has established a history of well coordinated distribution lines since the pharmaceutical industry in the region has now been in operation for a while. Infrastructure requirement for new drug dealers in the region will encompass factors such as building, road access, power supply, water availability and better supply and distribution channels (Blaisdell 2000). Puerto Rico is renowned for its highly educated labor force that has also proved to be innovative and very skilled. The country also enjoys extensive regulatory experience fro products and also a well organized delivery system (Pathak & Escovitz 1996). According to market research for marketers in the United States of America, Puerto Rico is has grown rapidly to become one of the largest manufacturers of high technology products in the region. The future of the Island remains bright as there are even more companies involved in research and development of pharmaceutical products, biotechnology hence the region is leading in this drug and device industry (Blaisdell 2000). For a start up business in pharmaceutical pr

Sports Tour Business Research Paper Example | Topics and Well Written Essays - 3250 words

Sports Tour Business - Research Paper Example The skiing business is highly seasonal in nature. The actual ski season lasts from mid-December through to April if it is short. It lasts from the weekend before Christmas day to the end of March. In terms of pricing various factors are put into consideration such as: - This is the period between September and January. January is the back to school period, which ushers the start of the peak ski holiday booking period. September is the start of operator's main marketing programs. This is between February and April. Many operators discount to fill the later shoulder season dates of March and into April. Easter falling in April helps to extend the ski season, while Easter falling in March tends to shorten the ski season although Easter dates in March will tend to sell better because of the perception of better show in March than in April. This is the period between May and August. It sees a trickle of bookings with operators offering special deals and bookings in centers to get as many early bookings as possible. This period will also be used to focus on the supply side of business as well as finalizing marketing campaigns. However, this is not an ideal situation in terms of operations and finance and to supplement revenues in the otherwise quieter summer season. (d) Late Booking Phenomenon This is booking made three weeks or less in advance of the departure date. The internet has been the driver of this through the advent of a multitude of late booking sites, as well as snow report sites that publish real time snapshots of ski slopes through web cams and up to the minute reports on snow conditions. In determining the revenue to be generated from skiing, the following assumptions are made: - There is always an increment of 5% in the price of ski package holiday over the next three years. The current price being 677. The growth in the number of ski package holidays in the next three years (other factors held constant) is 3%. The current number being 3,500. Source: industry analysis Therefore: 2007 2008 2009 Price 677 711 746 Growth 5% Number of Packages 3,400 3,502 3,607 Growth 3% Revenue 2,301,800 2,489,922 2,690,867 Cash Flow Payment delay is typically 30 days to suppliers (airlines and accommodation agencies). Ski tour operators take a booking deposit of approximately 35 - 150 per person. The remainder is payable in full prior to departure/commencement of the holiday which is ideally10 weeks before departure but in practice holiday balance can be chased up until the ticketing period, which generally three to four weeks before the departure date. Late bookers can also be subject to cover the administrative expenses of getting tickets to the airport for collection by the customer the day of departure Management and cash implications The figures show a growth in price and demand of 5% and 3% respectively. To maintain this price and demand growth, management has to undertake certain issues such as: - Provide online bookings - This will smoothen booking exercises for customers who are busy Low cost airlines serving ski