Lipitor marketing assignment

Recommended Course of Action As discussed in previous section, multiple strategies can be applied with its own pros & cons. Suggested model for Pfizer is a Hybrid model where the following is proposed 5. 1 Phases, Provide more Value for The money/elongate Strategy In this phase which should be applied long before patent expiry, Pfizer should work on adding values to the current product (Improved packaging/flavors/distribution) and work in parallel on the Innovate strategy which might benefit in extending Patent lifetime. 5. 2 Phases, Divest/lenses in Generics

In this phase short before expiry, Pfizer should start working on licensing its drug to other companies which will add barrier to market entry from other players. At the end of this phase, Pfizer should start working on Divest strategy by reducing research & promotions on Lipton brand and move the saving into other patent protected brands. 5. 3 Phases, Introduce new drug Depending on the innovations development made in Phases , Pfizer might be able to introduce the newly developed drug into the market with better characteristics and build on the already successful Lipton brand.