...Merck Josue Vazquez University of Phoenix Management - MGT/ 521 Dr. Hector Torres Perez February 19, 2014 Merck The history of Merck Company as one of the first pharmaceutical in the world dates all the way back to 1668 when Friedrich Jacob Merck acquired the Angel Pharmacy, which became the heart of Merck and is still owned by the Merck family today. In 1891 Merck in Germany became Merck KGAA or "German Merck" and a United States subsidiary called Merck & Co., Inc. was established in New Jersey. As a consequence of World War I, Merck lost its subsidiaries abroad in 1917, including its American subsidiary Merck & Co., which then became an independent U.S. company. But with the merger with Sharp &Dohme Inc. in 1953 Merck become the largest pharmaceutical producer in the United States. In 1987 Merck was named America’s most admired and most innovative company. In 2006 their vaccine against the Human Papiloma virus, Gardasil was approved by the FDA and is currently they only method of treatment against the HPV virus against the strands that can cause cervical cancer in women. They have also been responsible for the development of vaccines against measles and rubella virus. Merck Company employs an approximate of 51,000 employees in over 120 countries all over the world and owns 31 factories worldwide. It actively participates in charitable organizations, which since 1957...
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...of Merck U.S. sales office opened in and George Merck, Heinrich’s grandson, was appointed head of the U.S. branch Friedrich Jacob Merck opened Merck in Germany 1668 1827 Heinrich E Merck transformed the business and Merck began manufacturing 1887 Merck merged with Philadelphia pharmacy Sharp & Dohme 1891 The renamed company Merck & Co. opens for business 1953 2009 Merck merged with ScheringPlough Corporation and Organon BioSciences Pharmaceutical Industry • The average drug development time is over fifteen years with an average R&D expenditure of $800 million. • The FDA requires three phases of testing to assess safety and effectiveness. o Test results dictate what is displayed on the drug’s label and how the doctor will prescribe it. • Follow-up studies (Phase 5) can be performed to assess the drug after market release (Phase 4) and amend the drug label for improved sales. Pharmaceutical Success • 1981 to 2001, Merck experienced an upward trend on several industry metrics. • Their Return on Sales (ROS) for their Human Pharma line peaked at just over 40% in 2001 with an average of 24% . • The early 1990’s exhibited a downward trend just prior to Gilmartin assuming the role of CEO. Pharmaceutical Success • Cumulative Stock Return over the same period had a compound annual growth rate (CAGR) of 45%. • Again, the early 1990’s exhibited a downward trend, the first in over a decade. ...
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...MERCK MBA Healthcare Management Capstone (HCM650-1403B-01) Phase 1 Individual Project Student: Brenda Wilfred Instructor: Professor Ruth Lindegarde Colorado Technical University Online August 24, 2014 Repost Professor Timothy Tapp; Applied Managerial Healthcare Finance, Professor Kristaizell Darby: Management the Healthcare Organization (HCM612-1401B-01), Professor Jenson Hagen: ECON616-1402A-0 Applied Managerial Economics, and Professor Kristy Taylor: Systems in Healthcare (HCM632-1403A-01) Abstract Pharmaceutical comes from Greek word “Pharmakeia” with the modern translation as “Pharmacia”. Many people owe their lives to many lifesaving medicines, without which they might not have seen another day in their life. Pharmaceutical companies are responsible for discovering new drugs, marketing them and getting them licensed for their use as medications. All drugs so produced have to go through a strict process of patenting and testing and are subjected to all sorts of safety checks and a variety of laws and regulations. These pharmaceutical companies not only play a very important role in the medicine industry but also play a significant role in the revenue industry and the development of a nation. Here are top 10 pharmaceutical companies in world. The global economic crisis is impacting every area of business and forcing corporations to reevaluate how they conduct operations. In an effort to operate in the leanest most efficient manner, some corporations...
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...MERCK AND RIVER BLINDNESS 1. Think about the definition of stakeholders — any parties with a stake in the organization’s actions or performance. Who are the stakeholders in this situation? How many can you list? On what basis would you rank them in importance? People suffering from the disease or those who potentially may be infected – would directly benefit from the cure Merck employees at all levels – profitability and the economic health of the company affects current employees Merck shareholders – inability to profit from the drug might have a negative effect on shareholder’s value, but taking the stand on “doing the right thing” might have a favorable effect on company’s reputation and increase the value of the stock Various healthcare organizations – Merck is one of the leaders in the industry whose actions or inactions may affect the state of the industry as a whole One way to rank stakeholders in importance is by their level of benefit from the drug putting people suffering from the disease in the first place as they would benefit the most from the invent of the cure. Then, employees and shareholders would share the second place, provided that the company would most likely not be able to recover funds invested in the long and expensive process of developing the drug which in turn would affect company’s profitability. Finally, various healthcare organizations would rank third; the effect on them would depend on the level of their involvement in the process...
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...In his prologue to Daphnis and Chloe, Longus refers to his four books as “a0na/qhma me\n7!Eroti kai\ Nu/mfaij kai\ Pani/” (Pr 2.3-4). Coming before any of the action of the novel, the reader asks, and for good reason, why these three gods or sets of gods? Then in the final book, Daphnis gives “a0naqh/mata…tw~| Dionu/sw|…tw~| Pani\...tai~j Nu/mfaij” (4.26.6-8). Here Dionysus has filled the place of Eros, or, as I shall argue, Dionysus represents the same universal force as Eros in the earlier books. These divinities, Eros/Dionysus, Pan, and the Nymphs, directly influence the lives of the titular protagonists. Their influence serves different purposes depending on what the situation calls for, but, overall, the influences could be labeled as such: Eros/Dionysus controls their lives, the Nymphs nurture the youths, and Pan enflames their passion. In many Greek novels, Eros functions as a stock figure, “not much more than a convenient method of setting [the] plot in motion” (Turner 119). Critics have heavily studied the role of Eros in this novel, and many find that the text of Daphnis and Chloe can be seen as an introductory text for syncretic monotheistic religions, specifically that of Orphic Dionysus. This argument holds valid, yet, I think, over reads the text, and Chalk admits as an introductory text, it is merely “allusive” and not clearly instructive (36). Philetas certainly describes the “cosmic Eros” found in Hesiod’s Theognis in his interaction with Eros in his garden...
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...Caso Merck & Co: Evaluación de una oportunidad de licencias de medicamentos El caso está ambientada en el año 2000. Merck & Co. es una compañía global, impulsada por la investigación farmacéutica, investiga, desarrolla, fabrica y comercializa una amplia gama de productos para personas, así como productos de salud animal. Opera directamente a través de empresas conjuntas establecidas y prestas servicios de gestión de productos farmacéuticos (PBM). Durante los últimos 5 años, la compañía ha lanzado 15 nuevos productos de éxito, las drogas más populares han generado la cantidad de $5.7 mil millones en ventas en todo el mundo. Entre 1998 y 1999, un aumento del 20% en las ventas se observó. Merck posee las patentes de los medicamentos más populares, sin embargo, expirará en 2002. Una vez que las patentes han caducado, las ventas disminuirán por los medicamentos genéricos sustitutos y baratos en el mercado. La compañía tiene como objetivo mantener un buen camino en el desarrollo de fármacos, por constante renovación de su cartera, lo que impide la pérdida de ventas de medicamentos que van fuera del tiempo de la patente. Los nuevos fármacos son bien desarrollados por la investigación interna (la mayoría) mediante la colaboración con empresas de biotecnología. El producto: Davanrik Davarnik fue desarrollado por los productos farmacéuticos LAB, un producto farmacéutico pequeño y relativamente joven especializada con compuestos para el tratamiento de trastornos neurológicos. Originalmente...
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...Story Tiffany & Co. is created by Charles Lewis Tiffany and John B. Young (then known as Tiffany & Young, a stationery and fancy goods emporium at 259 Broadway in New York). All items were marked with a non-negotiable selling price, which was a first at that time. The first day’s sales total $4.98. 1837: Introduction of the Tiffany Blue Box The well-known shade of blue was chosen to symbolize the company’s renowned reputation for quality and craftsmanship. The colour is well known globally and widely used on Tiffany & Co. boxes, catalogues, shopping bags, brochures and in their advertising mediums. Today, it has become Tiffany & Co’s trademark colour. No box can be taken out of a Tiffany & Co. store except with an article which has been sold by them. This adds to the exclusivity of the brand. The tradition of the famed Tiffany Blue Box has endured over the years as its contents are unsurpassable in quality and design. 1845: The First Blue Book The first ever Tiffany catalogue is published. This tradition still continues at present day. 1851: The Heritage of Tiffany Silver Tiffany becomes the first American company to use the 925/1000 sterling standards which is later adopted as the United States Sterling Standard. Tiffany’s silver designs also start capturing attention worldwide. 1853: Tiffany & Co. is “Officially” Named Charles Tiffany assumes control of the company and renames it. 1867: Tiffany & Co. at the Paris Exposition Universelle Tiffany & Co becomes the first...
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...It starts with an idea s t a g e s o f innovation Best Practices in Brand Extension: Effective Application of Brand Recognition BRAND EQUITY CAN BE DIVIDED INTO THREE COMPONENTS: EXPERTISE, EMOTIONAL ATTACHMENTS AND PRODUCT ATTRIBUTES Brand extensions are an effective and popular method of gaining a competitive advantage when entering a new product area. Consumers are faced with an increasingly complex and confusing marketplace. The ability of a brand to act as a mental shortcut for consumers, thereby simplifying the decision-making process, makes it one of, it not the, most important asset for a company. The ability of a brand to influence consumer behavior, and its subsequent value to companies, will increase as consumers face a growing amount of information in the marketplace. By placing a well-known brand on a new product, a company can imbue that product with all the positive associations of that brand, thereby giving it a competitive advantage. With some estimates of the failure rate for new products at 90%, the added value of being associated with a trusted brand can be critical to a new product’s survival. Given the increasing value of established brands and the difficulty in launching new products, the popularity of brand extensions is understandable. However, the brand extension process must be carefully planned in order to insure the value of the brand is successfully transferred to the extension without jeopardizing the brand’s equity. To do so, a company...
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...THE MAIN STRATEGIC PROBLEMS PROBLEM: ‘Tiffany’ was very focused on their brand name. In most of the cases it is very good for a company and for Tiffany it would be right decision as well but the management preferred to do it starting from the bottom point. In my opinion, it was wrong decision. The company put very high prices on jewelries which do not have very high value according to the materials, and furthermore the company did not have the name what would attract people to buy its products. The company had chosen fundamental strategy to keep their name up and make it more famous. The second strategic fault, in my view, was the licensing the Tiffany brand to an Italian fashion-eyewear manufacturer – it means they have no control over the products which are produced by other company, so most probably the quality also will not be the same. It can be the reason for sales to fall down. Solution 1: I think they should have licensed the name for other sphere of production – this point would assure people that the products they used to buy from Tiffany are still made by the same way, and quality is going to be saved as usual. Solution 2: I would enhance the range of the products, and at the same time to have a control over of their quality. I think, in this case the sales would go up with the income. Recommendation: In my opinion the second solution would be better for this case. According to the Tiffany’s history: in most of the times the company was making decision exactly...
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... Managing Brand Extensions Brand Mix ▪ Definitions ▪ Breadth and Depth of Brand Mix Brand Extensions ▪ How to make brand extensions? ▪ Advantages and disadvantages ▪ Examples 1.2 A company may have more than one brands in different product categories It is critical that the firm can help consumers understand its products and services and organize them in their minds. The brand-product matrix help to characterize and formulate branding strategies by defining various relationships among brands and products. 1.3 The brand-product matrix A graphical representation of all the brands and products sold by the firm Brands rows Products columns 1 A Brands B Products 2 3 4 C 1.4 P&G Matrix Shampoo Cosmetics Toothpaste Toothbrush Floss Brands 1.5 Definitions Brand line ▪ All products sold under a particular brand 1.6 P&G Matrix Brand Line 1.7 Definitions Brand line Brand portfolio ▪ The set of all brands in a particular category 1.8 P&G Matrix Brand Portfolio 1.9 Definitions Brand line Brand portfolio Brand mix ▪ The set of all brands that a particular seller/company makes available to buyers 1.10 P&G Matrix Brand Mix 1.11 Breadth of brand mix How many different products should we carry? (Whether we should go into a product category?) ▪ Aggregate market factors ▪ ▪ ▪ ▪ ▪ Market size Market growth...
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...hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in...
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...requires further explanation to provide greater accuracy within the analysis. The two main areas for development within the question are the terms strategic and tactical. Strategic can be defined as 'relating to the gaining of overall or long-term military advantage'1 Tactical on the other hand can be defined as 'relating to or constituting actions carefully planned to gain a specific military end.'2 The Allied invasion of Sicily, codenamed OP HUSKY, was one of the major campaigns and naval landings of World War II. It began on the night of 9th - 10th July 1943 and was a combination of a large scale amphibious and fairborne operation proceeded by a six weeks of inland combat. The first strategic lesson that can be learnt is the need for co-ordination and integration of all arms and services into the initial planning phase and also during the execution of any operation, a key example of evidence to support this is during OP FUSTAIN. OP FUSTAIN was a mission to capture the Primosole bridge over the Simeto river. This bridge was vital ground for both the German/ Sicilian forces and the allied troops. It was the one major crossing point that would allow for the movement of...
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...Abercrombie's Ruehl NO. 925 Abercrombie & Fitch Company was founded in 1892 in New York City by David T Abercrombie and Ezra H. Fitch. Abercrombie, a former prospector, miner, trapper, and railroad surveyor, originally produced camping equipment in lower Manhattan; Fitch, one of his customers, was a successful lawyer in Kingston, New York, who loved the outdoors. The two men put their interests and opened a sporting goods store. By 1910, the company began selling women clothing, and became the first store in New York to supply clothing to women as well as men. Abercrombie & Fitch Company is a clothing retailer marketed toward the young people, from children to young adults. Abercrombie considers its clothing a "lifestyle brand," others have railed against its often sexually explicit tees and over-the-top marketing campaigns. The company oversees more than 800 stores nationwide, of which about 175 are its children's brand, abercrombie, and 260 are Hollister Company stores. Its latest in a concept, Ruehl, debuted in Ohio in 2004 appealing to more mature buyers. Abercrombie & Fitch is following a differentiated marketing strategy that appeals to the four target markets: Abercrombie Kids is geared for (7 to 14 year olds), Hollister targets (14 to 18 year olds), Abercrombie & Fitch aims for (18 to 22 year olds), Ruehl NO. 925 (22 to 35 year olds). Differentiated marketing aims at two or more distinct consumer groups, with different retailing approaches for each...
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...Abercrombie & Fitch Executive Brief of External Environment From 2011 Annual Report Company Profile: Specialty in clothing retailer; operate store and direct to consumer operations; under Abercrombie & Fitch Abercrombie kids, Gilly Hicks, and Hollister brands; 1045 store in North America, Europe, and Asia. $3.5B net sales; 85,000 associates; HQ: New Albany, OH. PESTLDG Analysis Political/ legal Donation to lobbying of $120,000, issue health care reform. Abercrombie & Fitch does not give a many contributions to lobbying. This could be because they will like something change in the Obama Health care law. Abercrombie & Fitch is no estranger to legal problem. In 2002 has two pulled a t-shirt that said “ Wong Brothers Laundry Service – Two Wongs Can Make It White” An Asian American student at Stanford University organized a successful boycott. In 2009, they settle a Discrimination lawsuit in 2009 for $40 million dollars to thousand of minority plaintiffs claimed that African American, Asian, and Hispanic workers were steered to the backroom instead to the sales floor. In 2008, an assistant manager filed a lawsuit against Hollister chain because she was asked to wear short skirt to keep with acceptable work attitude. This can damage the company image. Abercrombie & Fitch No Stranger to Look related lawsuit. In 2008, Muslim teenager was told during an interview that her head scarf would violate Abercrombie & Fitch’s strict but secretive “ Look...
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...Journal of Business Research 62 (2009) 305–313 Contents lists available at ScienceDirect Journal of Business Research Brand extension feedback: The role of advertising ☆ Eva Martínez a,⁎, Teresa Montaner b,1, José M. Pina a,2 a b Departamento de Economía y Dirección de Empresas, Facultad de Ciencias Económicas y Empresariales, Gran Vía 2, Zaragoza 50005, Spain Departamento de Economía y Dirección de Empresas, Escuela Universitaria de Estudios Empresariales, María de Luna S/N Edificio Lorenzo Normante, Zaragoza 50018, Spain A R T I C L E I N F O A B S T R A C T Firms often use brand extensions as a way of introducing their new products, although they also risk diluting their brand image. In order to understand how consumers assess extensions and extended brands, the present work proposes and estimates a theoretical model, using the structural equation methodology. The results of the estimation indicate that the attitude towards the extension influences brand image and that this attitude is a consequence of the initial brand beliefs and the coherence of the new product. A multisample analysis also reveals that favoring the introduction of extensions through adequate advertising constitutes an efficient way of protecting brand image. © 2008 Elsevier Inc. All rights reserved. Article history: Received 1 May 2007 Received in revised form 1 February 2008 Accepted 1 May 2008 Keywords: Brand extensions Brand image Brand equity Advertising 1. Introduction Launching...
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