Product development: Offering Viagra in a nasal spray, rubbing ointment, and chewable form. Pros: Demonstrates that Pfizer is constantly at the cutting edge of technology. Cons: Expensive form of marketing. Customers may not perceive the chewable form as a serious medication alternative. A variety of products might confuse and discourage customers.
Market penetration: Positioning itself as the first pharmaceutical company to address and treat impotence. Pros: It is the most cost effective method in to maintain sales. Cons: Competition might enter other segments of market, while Pfizer is focusing on existing markets.
Market development: Expand demographics to attract the younger-aged men who are in relationships that are sexually active that use condoms and experience erectile dysfunction. Pros: Widens distribution channel and increases company exposure as the leading firm to treat impotence. Cons: Attracting the younger-aged population might give the public the perception that Pfizer is only interested in increasing profit
Product diversification: Joint venture with the Impotence Association to abolish the social stigma of feeling embarrassed to discuss impotence. Pros: Synergistic partnership enhances credibility a
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