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Panadol Market size According to GSK (GlaxoSmithKline Australia) Australia reports ,2010 results to ASIC(Australian securities and investment

commission released on 15 April 2011 GSK had a sales revenue of 1.5 billion ,a pre-tax profit of 19.5 million and a 24% increase in R&D(research and development ) spend to reach $56 million for is the single biggest OTC(over the counter) brand in Australia which has a market value of worth more than $162 million Market potential because Pharmaceutical industry is a market which I growing at a rapid rate because people never stop getting sick so they never stop taking medication the use of medicine in Australia provided by the NHS(national health survey )undertaken by the Australian bureau of statistics in 1995(ABS1999) revealed that 59% of the population used one or more medication over a two week period. The most used medication were pain relievers, medication for cough, cold and flu and medications for heart problems or high blood pressure. Pain relief and cold & flu products were the most common medicines used by people in Australia. Panadol is known for its affective pain relief and cold& flu products which prove that it is an attractive and growing market. According to ASIC (Australian securities and investment commission) general manager of panadol pharmaceutical Australia reported that the total profits were lower in 2010 compared to 2009 due to reduced Relenza sales and impact of exchange rate. These reports indicate that there will be a moderate growth in the next year. The life cycle of this product is at a maturity stage as the competition in the market increases and companies fight to keep their market share. The amount of money spent on marketing has to be monitored very carefully because competitors may try to copy its spends more than $7 billion annually on R&D to stay ahead of the competitors .R&D infrastructure in Australia means that products available in Australia are researched and tested here to make it suitable for consumers in Australia. Market structure The nature of this market is oligopoly because Panadol is not the only large supplier of pain relief products in Australia. There is fierce competition in the market as it is dominated by a few large suppliers. The way we market the product is very essential to have a positive impact on the consumers mind compared to the competitors. These companies are interdependent on each other. Each firm must take in to account the likely reaction of other firms when making pricing and investment decisions. Example of competitors-neurofen, advil,panama amd panadeine Market trend The macro environmental factors that are affecting analgesic market place are demographic, economic, natural, cultural and technological The demographic factors are

Age- panadol is the only product which available to all age. panadol is segmented in to infants, children and adults products.childrens apanadol is available only in pharmacies where parents can easily get experts advise for the safety of their children. Sex-panadol products are available for both sex. Female products for period pain relief Geographic location - Panadol is the most widely available pain reliever in the world, marketed in over 80 is available in grocery (egg: 711), supermarket (Coles & Safeway), pharmacies. Cultural- it is one of the most easily recognisable product which has been used over generations with spontaneous awareness consistency over 85%compared to the nearest brand at 39%.panadol is recognised by the Australian consumers as the most effective pain reliever with consumer research confirming as the Australias most trusted pain reliever. Technological- one of the main objective of Panadol-GlaxoSmithKline Australia (GSK) is discovering and developing new medicines to improve the health of the evident through the massive amount of money spent on R&D(research and development) each year. They spend up to $35 million each year in Australian research and development to provide value to consumers and stay ahead of their competitors Economic- economy plays a big role in sales and profit of the product. According to GSK Australia Reports 2010 Results to ASIC(Australian Securities & Investments Commission) general manager of pharmaceuticals reported that profits were less in 2010 compared to 2009 due to the impact of exchange rate which contributes to the economy of a country.

References Super brands- an insight to many of australias greatest brands(2012) GlaxoSmithKline Australia (GSK) Reports 2010 Results to ASIC(Australian Securities & Investments Commission)15 april 2011 panadol- GlaxoSmithKline Australia (GSK) research and development Australias R&D and Intellectual Property Scoreboard. 2005 Pharmaceutical Industry Project,Kim Sweeny,September 2007