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Essay / Research Paper Abstract
This 3 page paper looks at Eli Lilly in 1990 when they wanted to drastically improve their market position in Europe. The paper considers different strategies that could have been adopted, discusses the potential of each and then presents a preferred strategy. The bibliography cites 3 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TElilly90.rtf
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Unformatted sample text from the term paper:
controls in different areas. However, as there is a long term move towards harmonization with the pharmaceutical industry within the European Union the strategy of Eli Lilly needs to take
this into account, The case also shows that the company wants to adopt a global strategy rather than one which is different in each market, making strategy more holistic and
reducing the risk of being undermined from parallel imports. In order to achieve the objectives the company needs to increase sales. There are a number of strategic options which
can discussed, these include adopting an aggressive pricing strategy, increasing the sales staff to grow organically, undertaking more strategic alliances and the potential of acquisition. Each of these will be
considered individually. The market in Europe is very price sensitive, and if the white paper in the UK leads the way this is a trend that will continue. With
a weak level of representation due to a relativity small sales force the company may want to adopt a short term strategy to develop the market for their goods and
gain contracts and increase reputation, Aggressive pricing could be a useful tool for getting increased market share, and developing more business contacts for the distribution of the products, with the
ability to raise the prices. It may be argued that the main market was the US and research and development has taken place anyway; to the costs of selling in
this way may be marginal and the benefits additional to the existing revenue flows. However, if the market remains price sensitive when the company increases prices business may be lost
to competitors, there is also a danger other pharmaceutical companies may follow the same strategy. This may be a time for the use of game theory (Nellis and Parker, 2000).
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