COMPETITIVENESS OF SELECTED PHARMACEUTICAL DISTRIBUTION IN QUEZON CITY: BASIS FOR MARKETING PLAN

Abstract

In the current fast-paced market environment, it is essential for businesses to comprehend trends in order to sustain a competitive advantage. These trends are shaped by multiple factors, such as socioeconomic developments, technological progress, and changes in consumer preferences. Through the examination of these patterns, organizations can uncover opportunities for growth and strategically adjust to the changing demands of the market. Vaxiray Pharma, a distributor of medical products based in the Philippines, serves as a prime example of this strategy in the face of strong competition from multinational companies. This study investigates how proficient analysis of market trends can improve brand equity and operational effectiveness within the pharmaceutical industry, ultimately promoting innovation and resilience in a demanding landscape. The research utilized a descriptive quantitative approach to assess Vaxiray Pharma's competitive position within the medical supply sector. By employing closed-ended surveys, the study examined the company's performance in relation to the marketing mix elements: product, price, place, and promotion. The primary findings revealed that while Vaxiray excelled in product quality, it faced challenges in promotion and accessibility, underscoring the necessity for enhanced strategies to compete effectively with rivals such as Mercury Drug and TGP. The target population comprised 100 customers of Brand pharmaceuticals, with a sample of 40 from Vaxiray and 30 each from Mercury and TGP, selected through convenience and purposive sampling methods. The research assessed the competitive standing of Vaxiray Pharma, Mercury Drug, and TGP Drugs across various factors, including demographic characteristics, product quality, pricing, distribution, and marketing strategies. The study involved a sample of 40 participants from Vaxiray, 30 from Mercury, and 30 from TGP, ensuring a balanced representation of genders. Vaxiray's product quality was acknowledged as both innovative and superior, although it encountered issues related to durability. While the pricing was considered fair, there is a necessity for better alignment with the perceived value. Distribution channels were found to be accessible, yet they were less organized compared to those of TGP. Additionally, promotional activities received lower ratings than those of competitors, highlighting the need for improved strategies to enhance market presence. Research findings regarding Vaxiray Pharma indicate that the majority of its customer base consists of females aged 36 to 40; however, the effectiveness of its promotional activities is lacking. Significant challenges include delivery delays exacerbated by climate change. Recommendations for improvement involve strengthening marketing strategies, enhancing promotional initiatives, and addressing supply chain disruptions.