Assess The Strengths And Weaknesses Of Merck

825 Words4 Pages
Merck has a few weaknesses to consider such as the various controversies they have had in the past. One example is the product of VIOXX, which had risks of heart attacks and strokes and several people were injured and died using the drug. There has also been limited reports of confidence to the investors of the firm. The liquidity of the company is also low and expenses on research are very high. This makes it a key concern when developing the product because there will be a large amount of research involved in developing SafePet. In the past, Merck has faced serious government charges due to violations of rules and regulations. This makes for large expenses on paying fines and court charges. This is a key weakness when considering this company for the development of SafePet injection as funding will be needed. Another key weakness for SafePet is that the injection will have to be given at a veterinary hospital. This may make it an inconvenience for on-the-go pet owners. However, the product will be designed like other flea and tick products, meaning they will not require an exam for the injection (Haseeb, 2016). Opportunities Merck has several key…show more content…
It tries to optimise the operational cost thus help maintain affordable prices. The pricing policies followed by Merck is above major competitors in its marketing mix. For example, in human pharmaceutical HIV medication made by Merck has been made more affordable and accessible for people all over the world. This makes it much easier for third world countries to get the supply needed of these medications. This will be no different for SafePet. The goal is to make a lifechanging medication at an affordable price. Also, owning a lot of patents under their name has helped them earn a lot of profits. The Merck company has succeeded in differentiating itself as cost leadership
Open Document