In the 1960's Tom and Audrey Eyton started a bi-monthly magazine, Slimming and Nutrition, working on their kitchen table at home. It cost them £2,000 to start: some years ago they sold it to a big publisher for £4,000,000. Thats profitability alright: where was the innovation?
This paper describes the research methodology used in a long range qualitative forecast of the future of the multinational pharmaceutical industry and same of the problems associated with qualitative international futures studies. The results of this study indicated that there was a need to develop more sophisticated attitudinal research techniques which could more effectively identify and monitor the political and social trends which are increasingly affecting the pharmaceutical industry. The study also identified the need to take a critical look at the industry and rethink our business strategy which has become outmoded as a result of our changing environment.
Two sets of basic questions are typically faced by all manufacturing companies which want to sell their products abroad: 1a. to sell the same products that are sold on the domestic market also on the foreign markets without any particular adaptation, or 1b. to have different product policies for each country or area; 2a. to apply the same marketing communication and price strategies at home and abroad, or 2b. to adapt such strategies to the local (i.e. different) conditions.