Pfizer: Develop Value Offering 1
Pfizer: Develop Value Offering Product Experience
Erica L. Dumas
School of Business, Liberty University
Author Note
Erica L. Dumas
I have no known conflict of interest to disclose.
Correspondence concerning this article should be addressed to Erica L. Dumas.
Email: eldumas@liberty.edu
Pfizer: Develop Value Offering 2
Pfizer: Develop Value Offering Product Experience
Q1. Explain the organization’s product plan.
The product experience is the core of marketing because it is the most crucial factor in
determining whether or not value has been delivered to the customer. A company will often make
a number of different products; therefore, management must recognize a product's place in the
company's product strategy. A product plan guides the company's entire portfolio and individual
goods (Marshall & Johnston, 2023). Pfizer manufactures and distributes numerous recognizable
labels. Pfizer also provides a wide variety of products, including some of the most popular
pharmaceuticals on the market. During the peak of the COVID-19 crisis, Pfizer developed a
vaccine in a record amount of time. With the sales of the company’s COVID-19 products
declining, the company is now focusing on continuing that rapid product development in other
product areas that the company produces. In times of turmoil, companies can introduce market-
breaking innovations to satisfy their customers' needs (Kang et al., 2021). Pfizer’s Rod
MacKenzie, Executive Vice President of Global Product Development, summarized this product
strategy as recommending measures in two significant areas: equality in acceptance to clinical
trials and recognition of the opportunities available for patients; and rapidity, effectiveness, and
innovation in clinical testing (Pfizer Investor Insights, 2021). By improving the timeline of
product innovation, Pfizer will be able to develop and deliver new products to their customer
base faster than ever before.
Pfizer: Develop Value Offering 3
Q2. Explain the product’s/service’s current life cycle stage (introduction, growth, maturity,
or decline). Select one stage to discuss and omit others.
Over time, companies develop, introduce, and improve their products in response to
shifting market conditions. The product life cycle illustrates the stages developing a product goes
through, from its formation to its eventual decline. Managers can use it to assess the state of their
products at each transition point and plan accordingly (Marshall & Johnston, 2023). By
examining Pfizer’s product category of vaccines, specifically the current, most recognizable
product, the COVID-19 vaccine, Comirnaty, there is evidence pointing to the product moving to
the product life cycle stage of decline. At the decline stage, the number of units sold of the
product and its profitability begin to diminish. Pfizer predicts a 29% decline in Covid shot
demand and a 60% decline in revenues for the vaccine and pill in 2023. The decline is attributed
to the fact that the number of Covid cases and hospitalizations is stabilizing. Also, the United
States government plans to discontinue funding the shot as it gets ready to end the three-year
public health emergency in May (Saul, 2023). Pfizer is relying on acquisitions, such as its
acquisitions of Global Blood Therapeutics Inc and migraine medicine manufacturer Biohaven, to
strengthen its pipeline of future drugs (Satija & Erman, 2023).
Q3. Discuss viable techniques for building the equity of the brand.
Customers will feel a greater attachment to a product or service if they believe its value
exceeds the money they spent on it. Brand equity refers to the positive and negative aspects of a
brand's name and logo, influencing how much consumers are willing to pay for the brand's
products or services. In order to develop successful marketing strategies, it is vital for a product's
marketing manager to gain a thorough understanding of the product's brand equity. (Marshall &
Johnston, 2023). Pfizer continuously evaluates its brand equity by assessing the five dimensions
Pfizer: Develop Value Offering 4
of brand equity. Brand awareness plays a significant factor in a customer’s purchase decision and
fosters brand equity creation. Customers are more likely to acquire a product if they are familiar
with the brand. (Luh Gede Permata et al., 2020). Due in large part to the widespread
immunization campaign against the COVID-19 pandemic, Pfizer's brand awareness has risen to
great prominence. Pfizer also advertises in various medical journals to increase brand
recognition. Pfizer has increased its brand loyalty by implementing its RxPathways Program.
Pfizer provided around 584,000 free or discounted medications to 107,000 individuals in 2021.
Pfizer has provided over 6.3 million free or discounted medications to over 1 million individuals
in the last five years (Pfizer: About, n.d.). The perceived quality of Pfizer products has been
strengthened with the rapid production of the Covid-19 vaccine and its 95% effectiveness. Pfizer
is known for investing heavily in research and development to remain a leader in the innovation
of high-quality healthcare treatments, which defines its brand association. The brand assets of
Pfizer include not only many patents on life-saving medications but assets in other areas as well.
Pfizer recognizes its social and environmental responsibilities and is a trailblazer in providing
global healthcare. The company has decreased carbon emissions by twenty percent. The
company funds U.S. development, humanitarian, and diplomatic operations through the U.S.
Global Leadership Coalition. In underdeveloped countries with more than one percent
HIV/AIDS prevalence, non-governmental and government organizations receive the antifungal
medication, fluconazole, free of charge. Pfizer partners with GAVI Alliance to provide 740
million doses of the anti-pneumococcal vaccine to forty-one developing nations at discounted
pricing (Pfizer: About, n.d.).
Pfizer: Develop Value Offering 5
Q4. Discuss several branding decisions recently made or appropriate to make.
The firm unveiled its first significant rebrand in decades in January 2021 with a new logo
to reflect its transition from a broad healthcare conglomerate to one more focused on developing
prescription medications and vaccines to prevent and treat disease. Pfizer CEO Albert Bourla
said in a statement, "With Pfizer's enhanced commitment to breakthrough innovation, now is the
moment to modernize our identity to reflect that reality." (Bruell, A., 2021). In collaboration with
Pfizer, Grey launched an advertising campaign under the slogan "Science Will Win." YouGov
ranked the campaign as one of the top five most effective campaigns overall, and it contributed
to increased brand awareness and positive perception of Pfizer (Grey: About, n.d.). The future of
Pfizer’s branding decisions lies in communicating to the world that Pfizer is now focusing on
continuing to innovate and provide quality global healthcare. Pfizer has invested over nine
billion a year in research and development to implement their innovation-focused strategy.
Q5. Discuss organizational efforts at customer satisfaction, loyalty, and retention.
Customer satisfaction results from services that fulfill or surpass expectations since they
were created and provided in a way that adds value (Marshall & Johnston, 2023). Customer
satisfaction has frequently advanced in recent decades to account for customer loyalty (Arora &
Narula, 2018). Loyalty leads to a substantial increase in returning customers (Marshall &
Johnston, 2023). To improve customer satisfaction, loyalty, and retention, Pfizer looks at its
market at least twice a year, using strategic customer segmentation and targeting. This bi-annual
assessment ensures that product launches are customized and made to fit the value proposition,
not the product itself, so it can be distributed efficiently. Pfizer's top priority is to deliver new
products and services to the customers at whatever stage of healthcare they are at (Kelly, 2013).
Pfizer is looking into various approaches to enhance and expand its communication with its
Pfizer: Develop Value Offering 6
customers. As a first step, Pfizer uses quantitative analysis to assess how well its meeting
customer needs and whether or not it needs to adjust its approach. However, honest conversation
with customers, either face-to-face or through third-party customer surveys, is far more essential
to evaluate whether the company is meeting its customers' needs most efficiently. Pfizer uses
both quantitative and qualitative feedback and the pilot approach. The team uses key
performance indicators to meet high target standards. Business collaborations on customer
relationship management systems are a good indicator of team performance (Kelly, 2013). These
strategies work together to further advance Pfizer's mission to provide quality healthcare to all in
need.
Pfizer: Develop Value Offering 7
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Journal. https://www.wsj.com/articles/pfizer-introduces-new-logo-playing-up-role-in-
drug-creation-11609844400
Grey. (n.d.). Science will win. Grey.com. https://www.grey.com/ideas/science-will-win
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Pfizer: Develop Value Offering 8
Pfizer’s Investor Insights. (2021). Pfizer: Improving the pace of innovation. Pfizer.com.
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Satija, B. & Erman, M. (2023). Pfizer sees steep 2023 fall in COVID sales, aims to bolster
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Saul, D. (2023). Pfizer expects Covid vaccine and pill revenues will fall 60% in 2023. Forbes.
https://www.forbes.com/sites/dereksaul/2023/01/31/pfizer-expects-covid-vaccine-and-
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