[Asia Economy Reporter Myunghwan Lee] Daewoong Pharmaceutical announced on the 13th that it held the 'Daewoong Pharmaceutical-Seoul Metropolitan Area Pharmacy Students Pharmaceutical Marketing Strategy Society (PPL) Collaboration Project' presentation and awards ceremony on the 8th at Daewoong Pharmaceutical Bear Hall in Samseong-dong, Gangnam-gu, Seoul as part of its industry-academia collaboration activities.
This project was conducted to derive new marketing strategies for Daewoong Pharmaceutical's general and specialty medicines and to enhance university students' understanding of pharmaceutical marketing. At the final presentation on the day, a total of three teams competed by presenting marketing strategies on pre-assigned topics in a presentation (PT) format.
Daewoong Pharmaceutical explained that it evaluated the creativity, logicality, and feasibility of the marketing strategies to select the best team. The best team was Team 3, which analyzed merchandising cases in pharmacies in Japan and other countries and benchmarked them to propose a marketing strategy from a new perspective. The best team was awarded a prize of 2.5 million KRW and a certificate.
Team 3 captured the needs for combined sales and purchases of general medicines and health functional foods through pharmacy and consumer analysis. They then analyzed the ingredients and efficacy of each item and developed a sales strategy considering synergy. In particular, they proposed a marketing strategy that combined Daewoong Pharmaceutical's liver function enhancer 'Urusa' and multivitamin 'Sunfactamin,' as well as the antipyretic analgesic 'EZN6' and vitamin supplement 'Let It Be,' to lead to actual purchases.
Additionally, Team 2 planned the expansion of Daewoong Pharmaceutical's EZN6 lineup and other new products and introduced consumer-tailored marketing strategies. Team 1 conducted direct interviews with medical staff and analyzed the strengths of Daewoong Pharmaceutical's P-CAB (potassium-competitive acid blocker) class 'Pexuclu (Pexuprazan),' regarded as the next-generation new drug in the gastroesophageal reflux disease market.
Lee Chang-jae, CEO of Daewoong Pharmaceutical, said, "This project provided a meaningful forum to share pharmaceutical marketing trends and fresh ideas," adding, "Going forward, Daewoong Pharmaceutical will continue to listen to the opinions of the MZ generation (Millennials + Generation Z) based on differentiated marketing strategies and become a pharmaceutical company leading marketing trends."
Participants are taking a commemorative photo at the Daewoong Pharmaceutical - Metropolitan Area Pharmacy Students Pharmaceutical Marketing Strategy Society (PPL) collaborative project presentation. Photo by Daewoong Pharmaceutical
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