PHARMACEUTICAL INDUSTRY REVIEW (Name) (Course Instructor) (Course) (Institution) (Date) Pharmaceutical Industry Review Bowman's strategy clock is a model that is used by the organization while they are marketing their products in order to analyze their competitive position while measured against what their competitors are offering. Cliff Bowman and David Faulkner developed the model. In this model Bowman views competitive advantage in terms of the cost advantage that a company has or differentiation advantage over the other organizations (Dogramatzis 2015 pp 59). Bowman comes up with a model clock that gives eight strategic positions that a company can use to measure the position of their products based on price and perceived value. Position one; low price and low perceived added value strategy. In this position a company's product is not differentiated the product is of low value and customers perceive very low value added to the product. According to this of the financial muscle that the small companies get as a result of funding from the big venture capital firms. Rivalry in the pharmaceutical industry can also be caused by new entrants into the industry. New entrants enter the market with new ways and methods of doing things. This will make the existing companies to become rival to this new entrants and endeavor to shake them out of the market. This rivalry is good for the industry as it leads to innovation and better services to customers. References Ding M. Eliashberg J. and Stremersch S. 2014. Innovation and marketing in the pharmaceutical industry. Emerging Practices Research and Policies. New York: Spring Science. Print. Dogramatzis D. 2015. Pharmaceutical marketing: a practical guide. Taylor & Francis US. Gereffi G. 2017. The pharmaceutical industry and dependency in the Third World. Princeton University Press. Shakhshir Ghassan 2014. "Positioning strategies development." The Annals Of The University Of Oradea 977 [...]
The case study is on: The global pharmaceutical industry in the land of the shrinking giants. It should be review addressing the following areas 1. Competitive Strategies- BOWMAN. i.e the strategic choices. 2. Stakeholders Mapping, 3. The McKinsey 7-s Frameworks and 4. VRIN V-Value R- Rarity I- Inimitability N- non-substitutability Please note that this is a case study review and has to be treated as such addressing the aforementioned areas of concern. The referencing style is "Harvard"