Term Paper on

“Marketing Analysis of Square Pharmaceuticals Ltd”

Course
Marketing Management (Bus 620)

Submitted to

Professor Dr. M. Mahmodul Hasan

School of Business
MBA Program
North South University

Submitted by

Sonia Amin ID- 113-0352-660

A K M Imranul Haque ID- 121-1284-060
Mahmuda Yesmin Nipa ID- 122-1276-660
Ishtiaq Mahmud ID- 132-1838-060
Marzia Rahman Nomrota ID- 142-1646-660

Date of Submission- April 25th April, 2015

25th April,2015
Professor Dr.M. Mahmodul Hasan
North South University University
Dhaka, Bangladesh

Subject: Submission of report on “Marketing Analysis of Square

Pharmaceuticals Ltd”

Dear Sir,
We are going to submit you a report on “Square Pharmaceuticals Ltd”. We
identified a product Ansupen From Square Pharmaceuticals Ltd. We tried to
give the marketing analysis & strategy of the product Ansupen. We faced many
problems in finding data, collecting information, current market situation and
so on. We would like to apologize for any kind of mistakes which may be found
in this report.

Sincerely yours,

Sonia Amin A K M Imranul Haque

113-0352- 660 121-1284-060

Mahmuda Yesmin Nipa Ishtiaq Mahmud

122-1276-660 132-1838-060

Marzia Rahman Nomrota

142-1646-660
 ACKNOWLEDGEMENTS
Acknowledgement

Preparing this report was both exciting and hard working at the same
time. It was a great experience for us to work on Square Pharmaceuticals
Ltd. Wewould liketo express our gratitude to Professor Dr. M.Mahmodul
Hasan, Course Instructor, School of Business,North South University, for
providing us with the proper guidance andsupport.

We would also like to thank Square Pharmaceuticals Ltd.’s Marketing

Department for giving us time in their busy schedule, by providing us
information that was needed to complete the report, and to properly
guide us throughout our case study.
 EXECUTIVE SUMMARY
Executive Summary

SQUARE Pharmaceuticals Ltd., the Leader of Bangladesh Pharmaceutical Industry for the
last
29 years, is now UK Medical and Health Care Products Regulatory Agency (MHRA),
Australia certified. Under the parental company of Square Group, Square Pharmaceuticals
Ltd., the flagship company, is holding the strong leadership position in the pharmaceutical
industry of Bangladesh since 1985 and is now on its way to becoming a high performance
global player. It started its journey as a partnership firm in 1958, producing variety of
medicines. From 1958 to now, it stands on a strong platform because of their successful
performance and technical improvisation.
Square Pharmaceuticals has a well-organized management system by which they smoothly
operate process of setting and achieving goals through the execution of five basic
management functions that utilize human, financial and material resources.
Square has developed an effective and aggressive marketing system which generates
motivation in the employees for achieving the organizational objectives. Square’s practice of
distribution through a wide network of field staff throughout the country ensures freshness of
stock as well as efficient and timely service. Strict quality control is maintained in the factory
by expert personnel and apparatus. Square has a reputation of paying its taxes on due time. It
has got the best employee awards in 2013.The company’s growth plans for the future is to
strengthen operations in domestic market, increase market share internationally and
nationally, improve productivity and profitability to offer more value to the shareholders.

Ansupen is human insulin made by DNA recombinant technology so it has the same structure
and function as the human insulin. Manufactured in the Square Pharmaceuticals Limited's
State-of-the-Art manufacturing facility and it is the pioneer in production the regular insulin
production in Bangladesh. Ansupen is much easier to use and safe for the patients in all
aspects. This product is cost effective compare to the other competitive foreign company.
Ansupen is the landmark for the pharmaceutical industry of Bangladesh.
No. Topic Name Page Number
01 Defining Marketing Management(Theory 2000-2010& Theory 01
2011-2015)relates with Company’s Marketing Management
02 Mission-Vision-Business Plan-Corporate Strategy 02
03 SWOT 3-4
04 PESTLE 5-6
05 Michael Porter’s Five Forces 07
06 Marketing Strategy& Core Marketing Concept+Market 8-12
Segmentation
07 Marketing Mix(7P+4C) 13
08 Value Chain Model 14
09 TQM- Loyalty- Quality & Control 15
10 Brand & Branding 16
11 Box Analysis of Brand Elements( 6 Categories) 17
12 Brand Dynamic Pyramid 18
13 The Five M’s of Advertersing 19
14 Mass Communication (a) Advertising Budget& Campaign 20
Cost (b) Sales Promotion& Budget (c) Events&
Experiences/Sponsors (d) Public Relations/Government
Lobbying (e) Corporate Social Responsibility
15 Marketing Budget & Expenditure 21
16 Pricing Strategy 22
17 Breakdown Analysis with Chart/Graph 23
18 Recommendation 24
19 Conclusion 24
20 References 25
Table of Content

Defining Marketing Management (Theory 2000 – 2010 & Theory 2011 – 2015) relates
with Company’s Marketing Management
Definition of Marketing Management (Theory 2000 – 2010)
Marketing management is the art and science of choosing target markets and getting,
keeping, and growing customers through creating, delivering, and communicating superior
customer value.

Definition of Marketing Management (Theory 2011 – 2015)

Marketing management depends on the size of the business and the industry in which the
business operates. Effective marketing management will use a company's resources to
increase its customer base, improve customer opinions of the company's products and
services, and increase the company's perceived value.

According to Square Pharmaceuticals Perspective, Marketing Management is the

organizational discipline which focuses on the practical application of marketing orientation,
techniques and methods inside enterprises and organization and on the management of a
firm's marketing resources and activities.
Globalization has led firms to market beyond the borders of their home countries, making
international marketing highly significant and an integral part of a firm's marketing strategy.
Marketing managers are often responsible for influencing the level, timing, and composition
of customer demand accepted definition of the term.

Vision Statement
“We view business as a means to the material and social wellbeing of the investors,
employees and the society at large, leading to accretion of wealth through financial
and moral gains as a part of the process of the human civilization.”

Mission Statement
“Our Mission is to produce and provide quality and innovative healthcare relief for
people, maintain stringently ethical standard in business operation also ensuring
benefit to the shareholders, stakeholders and the society at large.”
Business Strategy
Square pharmaceutical Ltd being the market leader of pharmaceutical industry of
Bangladesh follows a unique set of strategies. They did not confine themselves into
only one strategy follower; rather they focused on different generic strategy for
different category of product. So they kind of diversified their portfolio among different
segments of the market.

Cost leadership strategies

We found that square pharmaceuticals follows cost leadership strategies for a specific
set of product category. Because cost leadership strategy is an integrated set of
actions taken to produce goods or services with features that are acceptable to
customer at the lowest cost, relative to that of competitors. Square using the cost
leadership strategy to sell no-frills, standardized products to the industry’s most
typical customers. Square’s products have competitive levels of differentiation in
term of features that they create value for customers. Indeed emphasizing cost
reductions while ignoring competitive levels of differentiation is ineffective.
Square pharmaceutical also carefully examines all support activities to find
additional sources of potential cost reductions. Developing new systems for
finding the optimal combination of low cost and acceptable quality in the raw
materials required to produce the drugs.

Focused Differentiation
Square pharmaceutical limited also focuses on market niche, concentrating
competitively on a specific market segment. These types of products are usually
charged with premium price and only a few numbers of companies produces or
imports those drugs. In this regard square pharmaceuticals achieved a good
reputation in medicine sector.

Corporate Culture
SPL, with its progressive business outlook, believes and practices corporate work
culture with a classic blend of efficiency and equity. SPL believes in company growth
by increasing efficiency level of employees and for that offering excellent environment
and support for skill and knowledge up gradation. SPL’s Business Motivation is ‘Being
Good by Doing Well’ and to conduct transparent business operations based on market
mechanism within the legal, ethical & social framework with aims to attain the mission
reflected by the company’s vision. It values productivity as the spontaneous
contribution of Human Resources.
Transparency & business ethics is the core value of SPL and it is strictly followed at
every step of the business processes. Every business in SPL is modeled in a way that
enables the management to ensure highest degree of both financial and behavioral
accountability. SQUARE pursues Zero Tolerance policy against all kinds of corruption.
SPL's activity goes well beyond the sphere of business. As socially conscious and
responsible corporate body SQUARE is committed to the improvement of the society as
a whole.
SWOT Analysis of Square Pharmaceuticals Ltd

Strength Weakness
1.Good Product Quality 1.Aggresive Competitors

2.Uncompromised quality of raw materials 2. Some essential product price is very high.

3. Very skilled& Efficient Pharmacists. 3. Insufficient supplier of raw materials.

4. Competitive price with the one of the best’s 4. High production cost.
quality product.

5.Worldwide recognition 5. High marketing expenses affect the

company’s margin of scale significantly.
Opportunity Threat
1. No 1 company in the pharmaceuticals 1. Competitors are main threat for square.
industry.

2. Worldwide recognition &market leader in the 2. Pharmaceuticals firms are growing largely.
Pharmaceuticals industry in Bangladesh.

3. Can develop market value by cutting down 3. Competitors come with new technology.
product price.

4. Potential international market. 4. Unstable political situation.

5. Clinical trials& Research. 5. Regular devaluation of money increasing

the cost of exports.
Strength
1. Being in the top for this long time resulted in a very positive impression for all the
products in the minds of the doctors and patients already, it occupies a good position it
their minds.
2. Machineries and technologies come from Germany, U.S.A, and India.
3. It has Company Strength and product strength, Company strengths effects positively
on the product, and products strength also effects positively on the Company.
 4. Square has the number of sales force of the company, their capability, Training and
selling skills are in better condition and position than any other company in the
industry.
5. Square follows very transparent marketing activities; there is no misleading
or fraud, that why it enjoys a good reputation in the market.
 Weaknesses
1. Square needs to consider the loss of late introduction and work on market considering
this disadvantage.
2. Low investments in innovative R&D continue to be a major weakness
of Square Pharmaceutical Ltd.
3. Square lacks the ability to compete with MNCs for New Drug
Discovery, research and commercialization of molecules on a
worldwide basis due to lack of resources.
4. Rapidly increasing costs of skilled manpower such as scientists/
regulatory compliance personnel/ pharmaceutical lawyers/
international business development personnel is pushing up the cost
of innovation.
5. Inadequate manufacturing practices
Opportunities
1. In the market, the number of Antiulcer patients is increasing, when the number of
patients increases the possibility of a good return from the required drug increases.
2. Due to the cost advantage in contract manufacturing & Research multi-national
companies find it compelling to shift their production bases to countries offering such
cost advantage.
3. Incredible export potential.
4. There is a possibility of greater returns from other countries of the world by
exporting.
5. Clinical trials and research.
Threats
1. Competitors are main threat for Square.
2. Export effort is hampered by procedural hurdles in Bangladesh as well as non-tariff
barriers imposed abroad.
 3. Competitors come with new technology.
4. Mergers and acquisitions by other companies may completely change condition of the
pharmaceutical market.
5. Outdated Sales and marketing methods.

PESTEL Analysis of Square Pharmaceuticals Company

Political Factors Economic Factors
1. Political unstability hampers sales & 1. Huge Unemployment rate has impact.
Business.
2. Export Import policy of Government 2. Low labor cost effects the industry.
affects the industry.
3. Growing Budget & pressure has impact 3. Exchange rate of foreign currency has
on pricing strategy. huge impact.
Social Factors Technological Factors
1. Demographic features. 1. Technological Innovation.
2. Health concerns& self awareness has
great impact. 2. Unreliable power supply.
3. Increasing population growth affects. 3. Hire technological support.
Environmental Factors Legal Factors
1. Growing environmental agenda. 1. Legal factor regarding Business has
impact.
2. Climate change affects hugely. 2. Monitoring& supervision role.
3. Concern for ecosystem. 3. Solving legal queries.

Political Factors
1. Political Instability and events like Hartal, Strikes etc hugely
effects on the pharmaceutical industry as these hampers the
supply chain and sales.
2. Export-Import policy of government changes with the change of
political power. This has a huge impact on the pharmaceutical
industry.
3. Growing political focus and pressure on healthcare and healthcare savings
 on annual budget affects hugely on the pricing strategy of medicines.

Economic Factors
1. In Bangladesh the unemployment Rate is quite low (about 4.5%) compared to our
neighboring countries like India and Pakistan (more than 7%). So this level of
employment has a huge impact on the industry.
2. Labor cost in Bangladesh is very low. So it helps in cutting cost and increase
production of drug stuffs. Like the RMG sector, low labor cost hugely effects on the
pharmaceutical industry.
3. An exchange rate of foreign currency also has a huge impact on the industry.

Social Factors
1. Demographics features of population also affects on the
pharmaceutical industry.
2. Health concerns and increase in self awareness of the
population also has a huge impact on the pharmaceutical
industry.
3. Increasing age of population and growth in obesity also affects
on the industry.

Technological Factors
1. 80% of Active Pharmaceutical Ingredient (API)’s are imported not produced in our
country because of technical issues. This has a huge impact on the pricing.
2. Unreliable power supply force leads firms to depend on self-generation of
power which increases production cost of drugs.
3. Technological innovation observed only in medicine production process but
not in the production of material/machine. This has a huge impact on the
industry.

Environmental Factors
1. Growing environmental agenda and community awareness have a huge impact on
the pharmaceutical industry.
2. Climate change affects hugely on the whole operation and production.
3. “The National Drug Policy 2005” states that the pharmaceutical plants must
comply with disposal of waste streams which increases cost of production but
helps keep our environment safe. And this concern for the ecosystem is very high
in the pharmaceutical industry.

Legal Factors
1. World Bank (2009) reports Bangladesh as ranked 119 out of 183 economies on ease
of doing business regarding legal issues. This indicates how lenient the legal issue in
Bangladesh is regarding business.
2. Monitoring and supervisory role of DDA (Director of Drug Administration) also affects
the production, distribution and marketing of medicines and drug stuffs.
Porter’s five forces of Square Pharmaceutical

Marketing Strategy:
Power of Suppliers
Ansupen targets only Niche Volumemarkets.benefits
Because
occurAnsupen is a Product of Square
Input
pharmaceutical which only for the Standards,
diabetic available
patients locally
to control diabetics. So Ansupen targets
Numerous suppliers, switching cost low
only those people who are sufferings from
Suppliers candiabetics. So Ansupen is under niche market
go for forward
strategy. Integration
Raw material cost constitute more than
50% of the total expenses
Core marketing concepts:
Needs, Wants, and Demands:
Ansupen is real needs, wants and, demands Industry Competition
is as regular basis for the diabetic patients.
Barriers to Entry Threat of substitutes
Very low
Target barriers
Markets, to entry and segmentation:
Positioning Highly competitive. Top No substitute for the
Government policies five players have medicines
Because of the Ansupen can use for only diabetics so it mere
target those group of patients. So
supportive for an entry but 18% of market share Biotechnology is a threat
price regulation exists
they identify distinct groups of buyers. After identifying market segments, to synthetic pharma
the marketers
Economies of scale exist Low fixed cost and high products
decides whichtechnology
Proprietary pre3sent the
andgreatest opportunities- which are the target markets.
product will
Offerings and exist after 2005
Brands:
Insulin needle pens are available in different sizes, brands and prices. Brand name is very
Power of buyers
important as Ansupen is from squareEndPharmaceuticals.
consumers do not have
Value and Satisfaction: bargaining power
Brand identity exists but in the
Customer’s Satisfaction and product value
hands of isinfluencers
very important. Ansupen can use several days
(Doctors)
Price sensitivity is less
as per as doctors recommend to patients.
Highly fragmented market, so
Marketing Channels: buyer concentration v/s industry
is low
Ansupen mainly marketing through marketing promotion officers (MPO) who are marketed
the pharmaceutical product to the doctors, Influencers ( Doctors) who are prescribed
Ansupen to their patients, hospitals, Pharmacy’s, Billboards and also through TV, magazines,

Rivalry among existing firms:-

1. Industry Growth rate:
SQUARE Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh
a n d i t h a s b e e n c o n t i n u o u s l y i n t h e 1 st Position among all national and
multinational companies since 1985.
2. Concentration and Balance Competitors:
The number of firms in an industry and their relative sizes determine the degree
of concentration. Lots of similar size and strong competitor exist in the market and price
competition is likely to be harsh. So square pharma product price is competitive.
Square pharma is growing company; the competition is low.
3. Degree of differentiation and switching cost:

Product differentiation is cost competitiveness However, companies like Square pharma has
created big brands in over the years, which act as product differentiation tools. 4. 4. 4.
4.Excess Capacity and Exit barrier:

It is quit impractical for square pharma or other firms to exit from this industry because of
they can not use those machineries in other purpose. Also here some rules and regulation
exist no one can not easily exist from this industry.

Threat of new entrance:

Pharma industry is one of the most easily accessible industries for an entrepreneur in
Bangladesh. The capital requirement for the industry is very low; creating a regional
distribution network is easy, since the point of sales is restricted in this industry in
Bangladesh.

1. Economies of scale:

Square pharma can easily produce based on economies of scale but it is quite difficult to
new entrants for produce based on economies of scale.

2. First mover advantage:

It was established in 1958 and converted into a public limited company in 1991.First mover
advantage is part of the standard I-Cubed Economy. It means that the first company into a
market generally wins.
3.Access to channels of distribution and relationship:

The Square pharma is a large pharmaceutical company in our country so they have large
distribution channel and good relationship with the retailers.

Threat of substitute Products:

This is one of the great advantages of the pharma industry. Whatever happens, demand for
pharma products continues and the industry thrives. One of the key reasons for high
competitiveness in the industry is that as an on going concern, pharma industry seems to have
an infinite future.

However, in recent times, the advances made in the field of biotechnology, can prove to be a
threat to the synthetic pharma industry.

Bargaining power of buyers:

The unique feature of pharma industry is that the end user of the product is different from the
influencer (read doctor). The consumer has no choice but to buy what doctor says. However,
when we look at the buyer's power, we look at the influence they have on the prices of the
product.

In pharma industry, the buyers are scattered and they as such does not wield much power in
the pricing of the products. However, government with its policies plays an important role in
regulating pricing through the NPPA (National Pharmaceutical Pricing Authority).

1. Price Sensitivity:

Square pharma is produced the pharmaceutical products which are undifferentiated product
and there are few switching cost.

2. Relative Bargaining Power:

Two factors related to the relative bargaining power

 Number of buyer :

The buyers bargaining power is determined by the number of buyer relative to the
number of suppliers.

 Volume per buyer:

It is determined by volume of purchase by single buyer. The number of buyer of

Squre pharma is a single buyer with several alternative suppliers.

Bargaining power of Suppliers:

The pharma industry depends upon several organic chemicals. The chemical industry is again
very competitive and fragmented. The chemicals used in the pharma industry are largely a
commodity.

The suppliers have very low bargaining power and the companies in the pharma industry can
switch from their suppliers without incurring a very high cost.

However, what can happen is that the supplier can go for forward integration to become a
pharma company. Companies like Orchid Chemicals and Sashun Chemicals were basically
chemical companies, who turned themselves into pharmaceutical companies. In case of Squre
pharma there is low bargaining powers of suppliers.

Marketing Strategy:

Ansupen targets only Niche markets. Because Ansupen is a Product of Square

pharmaceutical which only for the diabetic patients to control diabetics. So Ansupen targets
only those people who are sufferings from diabetics. So Ansupen is under niche market
strategy.
Core marketing concepts:

Needs, Wants, and Demands:

Ansupen is real needs, wants and, demands is as regular basis for the diabetic patients.

Target Markets, Positioning and segmentation:

Because of the Ansupen can use for only diabetics so it target those group of patients. So they
identify distinct groups of buyers. After identifying market segments, the marketers decides
which pre3sent the greatest opportunities- which are the target markets.

Offerings and Brands:

Insulin needle pens are available in different sizes, brands and prices. Brand name is very
important as Ansupen is from square Pharmaceuticals.

Value and Satisfaction:

Customer’s Satisfaction and product value is very important. Ansupen can use several days as
per as doctors recommend to patients.

Marketing Channels:

Ansupen mainly marketing through marketing promotion officers (MPO) who are marketed
the pharmaceutical product to the doctors, Influencers ( Doctors) who are prescribed Ansupen
to their patients, hospitals, Pharmacy’s, Billboards and also through TV, magazines, websites
etc.

Supply Chain:

Import channels, Pharmacy,s, Hospitals, Distributin channels.

Completion:

Same product is available from different groups of Pharmaceutical. So competition is little bit
high.
Marketing Environment:

Marketing environment is all about company, suppliers, distributors, dealers and targeting
customers. Square pharmaceutical product is Ansupen, target only diabetic customers.

Market segmentation:

Ansupen marketers have tried to manage the heterogeneity of the market in two ways;
patient segmentation or prescriber segmentation. The first, patient-focused approach
recognises that, even if they are all suffering from the same condition, patients have varying
needs.

These may depend upon disease stage, contraindication, compliance or some other
clinically-recognised criteria and they are used in the majority of segmentation approaches.
Patients may also differ as a result of non-clinical criteria. Ansupen market segmentation
consider the patients behavioral and benefits.

The second, prescriber-orientated approach recognizes that, even when faced with identical
patients, physicians are a diverse group. Perhaps the most common characteristic used to
segment prescribers is their openness to innovation. Innovators and early adopters are
often seen as targets for new products, while the more mainstream physicians gain the
attention of those companies trying to defend their incumbent brands.

Other physician criteria, such as degree of patient empathy or commercial orientation have,
in similar ways, been used to target sales force and marketing communications resources
and, in some cases, other assets such as medical liaison teams. Like all diabetic patient do
not need Ansupen. It depends on patients condition and if doctors prescribed.

Segmentation in real life:-

 By Indications

o Maintenance
o Acute
 By Patient profile

o Ethnic background
o Demographic
o Severity of illness

 By physician type

o Specialists vs. Gps

o Hospital vs. private
o Patients economic status

 By dosage form

o Quantity varies
o How many times a day
o How much need to inject
Marketing Mix 7P of “ANSUPEN”
Product
The term “product” refers to tangible, physical products as well as services. Here are some
examples of the product Ansupen decisions to be made:
 Brand name
 Functionality
 Dosage Form
 Quality
 Safety
 Packaging
 Services
 Defining the disease
 Defining the patient population
Price
Some examples of pricing decisions to be made include:
 Duration of patient protection
 Competition
 Brand versus generic
 Bundling
 Price flexibility
 Price discrimination
 Suggested retail price
 Volume discounts and wholesale pricing
 Provide free who can not afford in hospital like Bardem Hospital
 
Place
Distribution is about getting the products to the customer. Some examples of distribution
decisions include:
 Distribution channels
 Hospitals
 Pharmacies
 Supply chain and storage
 Market coverage (inclusive, selective, or exclusive distribution)
 Specific channel members
 Distribution centers
 Order processing
  Cold chain
 Transportation
 Reverse logistics

Promotion
In the context of the marketing mix, promotion represents the various aspects of marketing
communication, that is, the communication of information about the product with the goal
of generating a positive customer response. Marketing communication decisions include:
 MPO
 Promotional strategy (push, pull, etc.)
 Target Audience
 International events
 Detail Aid
 Clinical Papers
 Advertising
 Personal selling & sales force
 Sales promotions
 Public relations & publicity
 Marketing communications budget

Physical Evidence
Physical evidence is all about that the products services are physically visible.
 Touch
 Service environment
 Smell
 Taste
Process
Product usage information, how the product is and the process design of the product.
 Process design
 Self service
 Availability
 New version compare to other substitutes
  Easy to use
People
Who are related to the products like consumers, doctors, staff etc.
 Specially for diabetic patients
 Influencer ( Doctors )
 Well known pharmacy
 Co- creations

Alternate Marketing Mix 4C’s of ANSUPEN

Clients Costs
get Diabetic patients to Consider
control diabetics.
all costs Clieents
to satisfyare only Sometimes
clients diabetic patient.
give discounts and provide free for the needy people

Alternate
Marketing
Mix
Communications
Convenience
Interaction Doctors
betweenprescribed
patient andpatients
doctors,Ansupen.
and MPOIt promoted
is available
theonproducts.
well known pharmacy , hospitals where preservative is a

Value Chain Model

Total Quality Management (TQM)
Customer Loyalty
With Mission statement to “produce and provide quality & innovative healthcare relief for
people” Square Pharmaceuticals Limited has already taking one of the leading brands among
the industry. Square pharmaceuticals Limited has demanded that, they are the largest
pharmaceutical company in Bangladesh and it has been continuously in the 1st position
among all national and multinational companies. On the other hand, as they are operating in
Bangladesh from 1958, so they made a strong bond among the customers. Now the question
is about Loyalty. We know Customer loyalty relates to those consumers that keep coming
back to your store because better services than the competitors.
As Square Pharmaceuticals provided their service from 1985, for that reason for few
medicines they made a strong position in their customer mind. On the other hand, they have
a range of sister concern company and every sister concern are providing high quality
services for their target customers. So customers are automatically become loyal customer to
their brand.
Quality & Control
SQUARE is committed to ensure better life through quality medicine. Square
Pharmaceuticals Limited has defined its Quality Policy to fulfill this commitment. To achieve
and maintain a steady quality, a range of sophisticated state-of-the-art technology is engaged
in operation. SQUARE has adopted the latest quality philosophy by organizing a well-
equipped Quality Assurance Department in the plant in addition to Quality Control
Department. Above all highly qualified, well-trained, experienced and dedicated
professionals are most valuable assets of Square Pharmaceuticals Ltd. SPL’s Research and
Development is devoted to improve the health care facility of people. Square Pharmaceuticals
Ltd. has brought in advanced technology for its Research and Development works. To
support Research and Development work latest Information Technology (IT) is available
with us and SQUARE is now fully prepared to meet the challenge of twenty-first century.
Brand and Branding
Brand is the name, term, symbol and design on the other hand branding is endowing products
and services with the power of the brand. Without creating a strong, it is not possible to
create customer loyalty. As we have mentioned before that square pharmaceuticals has a
range of loyal customer, so we can say they have strong brand position on their target
customer mind.

Role of Brand
1. Identify the market: For the product Ansupen square have targeted all the people
from rural to urban area. However, at first they are doing their promotional strategy
to do target with urban people. This is because it is easy to inform them about a high
tech. product.
2. Signify Quality: SQUARE is committed to ensure better life through quality medicine
from 1985. As Ansuoen is their new innovation, so there is no doubt about that it will
provide high quality services than others.
3. Serve Competitive Advantage: SPL’s competitive advantage is availability of product.
Although Ansupen is not that much available in all the area of Bangladesh Market, So
we can say its competitive Advantage is quality services and easy to use than the
competitors.
4. Secure Price Premium: After considering their services and Quality SPL’s product
price is reasonable then the competitors. Although for pharmaceuticals product,
customers are not that much conscious about price, rather they conscious more
about services.
5. Offers Legal Protection: Square Pharmaceuticals have offered highly legal protecting
of their product by doing license.
Colors of Branding
Impact of Color in Marketing, researchers found that up to 90% of snap judgments made
about products can be based on color alone. Additional studies have revealed that our
brains prefer recognizable brands, which makes color incredibly important when creating a
brand identity and there is a real connection between the use of colors and customers'
perceptions of a brand's personality.
Now the question is what about Square Pharmaceuticals Limited. We know men’s like to see
blue and women’s like to see pink in their prefer brand. However, square pharmaceuticals
limited, specially their product did not targeted men’s or women’s individually. Their target
group is all the diabetics’ patient. So they have to take some new strategy.

Logo of Square Pharmaceuticals Limited

Here we are seeing that for the logo of square pharmaceuticals Limited they have used four
colors. Red and Green for text, Black for main logo design and white for the background.
Red is powerful color, symbolizing energy. Red also works for action oriented product. For
that reason they have used red color for the main text. Beside this green is the symbol of
freshness and environmental friendliness and they have used black for the main logo design,
this is because black is more visible. On the other hand here black suit most with other two
colors. They have used white for background. Because we know, white is the symbol of
cleanliness and fresh
Brand Dynamic Pyramid (Ansupen)
Marketing Research Consultants Millward Brown and WPP have developed the brandz
model of brand strength, at the heart of which is the brand dynamic pyramid. According to
this model, brand building follows a series of steps
According to this model Ansupen of square pharmaceuticals Ltd. is in presence and
performance stages.
Presence: when a product has newly introduced them in a market they will go for presence
stage. The customer is aware of the brand and recognizes the name, but may have no
particular opinion or emotional attachment to the brand. Ansupen is the new concept of
square Pharmaceuticals Limited. So they are in Presence stage.
Relevance: The customer is evaluating a brand in relation to other similar products or
services in the right price ranges or in the consideration is called Relevance. However the
price of Ansupen is much higher than the competitors, so we cannot set them in this stage
Performance: The customer will begin to set certain expectations and may develop a real
sense of the brand’s identity. Ansupen is the best service insulin provider for diabetics’
patient. So it will in Performance stage.
Advantage: The brand has proved itself superior to competitors and the customer may begin
to feel an emotional connection with the brand. Still now Ansupen is the new concept of
Square pharmaceuticals limited. So people are not that much familiar with this product and
they did not make emotional connection with this product.
Bonding: The customer has established a bond with the brand and is likely to remain a loyal
customer. When a brand is serving for long time to their customer we are calling then
Bonding. So Ansupen will not be stay in this position.
Box Analysis of Brand Element (Ansupen)

Figure: Box Analysis of Brand Element

Memorable How easy consumer can recall and recognize the brand is called memorable.
Here we see that the brand name of Ansupen is is small ans easy to recall. So it is memorable.
Meaningful As Ansupen like a pen which has been used to provide insulin, so the brand
name is meaningful here.
Likable Here brand element need to be inherently fun, interesting, colorful and not necessary
always directly related to the product. That means how aesthetically appealing in the brand
element. As the product is not match with the criteria, so it is likable.
Transferable It means can the brand element introduce new product in the same or different
categories. As technology is increasing, so in future Square pharmaceuticals can introduce
new product for the same purpose. So it is transferable.
Adaptable Square pharmaceuticals can adapt the brand name Ansupen in different market.
So it is Adaptable.
Protectable Every well known brand is highly protected by trade license. So Ansupen is also
portable.

The Five M’s of Advertising of Ansupen

Mission
Our Mission is to produce and provide quality & innovative diabetic insulin solutions for
people, maintain stringently ethical standard in business operation also creating the brand.
Money
Advertising doesn’t come cheap, especially if blended across printed and digital channels.
Our budget on Ansupen is almost BDT 50 lacs.
Message
Reusable Insulin cartridge
Media
Website
Poster and leaflets
Seminars and clinical meeting
Measurement
It will be done by most responses of effective advertisement. A successful advertisement will
be chosen for future campaign.
Mass Communication

 Advertising Budget & Campaign Cost – 50 lacs

 Sales Promotion & Budget – 20 lacs
 Events & Experiences/Sponsors – Sponsored by own
  Public Relation/Government Lobbying- 24/7 customer service via telephone. Mutual
understand with the government.
 Corporate Social Responsibility – Providing 1000 units of Ansupen to the rural
people.
 Doctors visit and free samples

Marketing Budget & Expenditure

In our marketing budget, the company has totaled its expenditures on each of its inbound and
outbound marketing strategies. In total, the company has spent BDT 5,000,000 for the entire
year on these marketing strategies. Next, the company then accounts for its yearly sales of
BDT 2, 00,000,000 in order to determine the company’s marketing as a percentage of its
sales. It does this by taking the company’s total marketing expenditures of BDT 5,000,000
and dividing it by the company’s yearly sales of BDT 2, 00,000,000. This allows the
company to express its marketing as a percentage of sales, which is 40%

Pricing Strategies
SPL use market competitor based pricing for Ansupen. Main competitor of Ansupen is Novo
Nordisk who is one of the largest insulin manufactures in the world. If there is strong
competition in a market, customers are faced with a wide choice of who to buy from. They
may buy from the cheapest provider or perhaps from the one which offers the best customer
service. But customers will certainly be mindful of what is a reasonable or normal price in the
market.
Ansupen in a competitive drug market do not have sufficient power to be able to set prices
above their competitors. They tend to use "going-rate" pricing – i.e. setting a price that is in
line with the prices charged by direct competitors. In effect such businesses are "price-takers"
– they must accept the going market price as determined by the forces of demand and supply.
An advantage of using competitive pricing is that selling prices should be line with rivals, so
price should not be a competitive disadvantage. The main problem is that the business needs
some other way to attract customers. It has to use non-price methods to compete – e.g.
providing distinct customer service or better availability.
In case of increase the market share of Ansupen, Penetration pricing can be associated with a
marketing objective of increasing market share or sales volume. In the short term, penetration
pricing is likely to result in lower profits than would be the case if price were set higher.
However, there are some significant benefits to long-term profitability of having a higher
market share, so the pricing strategy of Ansupen can often be justified.

Breakeven Analysis with Graph

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Net Income Advertisement Budget Profit

2013-14 2012-13 2011-12 2010-11 2009-10

Turnover 24,193,357 20,742,746 18,592,856 15,576,488 13,279,142

(Gross)

Value Added 3,282,583 2,783,257 2,538,431 2,105,063 1,816,563

Tax

Turnover 20,910,774 17,959,489 16,054,425 13,471,424 11,462,578

(Net)

Gross Profit 9,182,781 7,825,814 6,887,172 5,767,763 4,901,290

Net Profit 5,504,460 4,584,376 3,978,939 3,414,752 2,825,069

before Tax
 Net Profit 4,031,811 3,419,785 2,897,711 2,532,055 2,087,872
after Tax

Net Assets 22,277,517 19,052,892 16,396,669 13,817,709 11,554,380

Value (NAV)

Total Assets 26,549,535 23,734,743 21,637,554 19,444,410 15,029,500

Total Bank 418,654 1,937,619 3,002,471 3,761,330 2,231,167

Borrowings

Total Current 7,768,068 5,996,698 6,745,908 7,022,214 4,774,311

Assets

Total Current 3,416,620 3,792,438 4,252,935 4,668,189 2,216,744

Liabilities

Above is Annual Report of Square Pharmaceuticals Limited which is a very useful report for
analysis of its financial performance. This report explained about financial strength.
Customer service, risk management, corporate social responsibility, and good governance.
Director’s Report section explained the global economy and Bangladesh economy. This
report tried to accumulate all the relevant data and topics regarding financial performance.
This report would be very helpful and handy for potential investors and policy makers.

This report also explained different accounting policies and depth analysis of financial
position. In addition to that, it discuss about the industry performance. It also tells us about
the trend of financial performance. In addition to that, emphasis is given on that
information that creates positive impression about the company and the information in
their own way.

Recommendation
SPL has extremely wonderful and systematical working techniques. To recommend SPL is
quite difficult thing. But all things around us are changing at an accelerating rate. Given the
fast changing, dynamic global economy and the increasing pressure of globalization,
liberalization, consolidation and disintermediation, it is essential that SQUARE
Pharmaceuticals has a robust recruiting and selection policies and procedures that are
sensitive to these changes. We have found some points to be noticed for betterment of SPL.
 1. Because of having no sufficient incentives in comparison with their effort, the
turnover rate of medical representatives is very high. So SPL should reduce their high
dependency for marketing ansupen on medical promotion officer.
2. Though the ansupen are cost effective than that of rivals, still opportunity for
institution based sales should be looked into.
3. Patent right protection is mandatory to do incorporate business local and
international market.
4. More emphasis on service oriented approach to overcome price objection by doctors
through relationship building.
5. Many patients lack the knowledge needed to use insulin pens, especially the proper
priming of needles, need to keep the needle under the skin for a sufficient length of
time after injection to ensure delivery of the entire dose, and storage of the pen in
use. Patient education can correct these knowledge deficits. Patients need to
understand and demonstrate the ability to properly self-administer doses using pens
and needles without automatic covers.
6. To promote proper insulin administration using pen delivery systems, policies and
procedures that address the unique safety concerns associated with pens should be
established in addition to general insulin safety measures
7. SPL can open a 24/7 help line for the ansupen user to handle any emergency
situation or regular queries.

Conclusion
Square Pharmaceuticals Ltd. represents an organization that thrives for continuous learning
and organizational development. For them, organizational development includes a creation of
a strongly-bonded culture; maintaining discipline; continuously adapting to changes resulting
from both internal and external environment; developing human resources through ongoing
development and evaluation initiatives; and completing tasks and goals within a given time
frame. SPL continually focusing on corporate social responsibility and adapting to changes
will automatically lead to successful company. Thus, developing a strong marketing strategy
for organization development is becoming an important aspect for the company.
References

1. Dessler, Gary, Human Resource Management (9th edition) ,Last Published: 2011 ,
Publisher: Prentice Hall, New Jersey
2. French, L. Wendell, Human Resource Management (9th edition), Last Published: 2011,
Publisher: Houghton Mifflin Company, Boston, Massachusetts.
3. A. Noe & John, R. Hollenbeck, Human Resource Management (10 th edition), Publisher:
Irwin/McGraw-Hill, Boston, Massachusetts
4. Square Pharmaceuticals Ltd. , Annual Report 2014, Written & Edited by: Accounts &
Finance Department of Square Pharmaceuticals Ltd.
5. Square Pharmaceuticals Ltd., Training Report 2012, Dhaka Unit.