The overall purpose of this thesis has been to identify ways for the Danish pharmacies to increase their turnover at the liberalized market for OTC products. To clarify the market situation, we have performed an external as well as an internal analysis. This has given a valuable insight into the customers, competitors and the market in general. Furthermore we have gained knowledge of the pharmacies organizational structure and economy. Based on these analyses we have identified strengths, weaknesses, opportunities and threats for the pharmacy branch. After analyzing the market, we have made six proposals on how to increase the turnover which can either be implemented by the individual pharmacy or by a pharmacy chain. These six proposals are more or less costly, and they can be used either as individual strategies or as a common strategy for a group of pharmacies. We have found that the optimal solution for the Danish pharmacies is to change their image, expand their product ranges and change the décor. The change of the pharmacies image will result in the consumers thinking differently of the pharmacies. It is important for the pharmacies to gain a more modern and dynamic image which is expected to have a positive influence on the turnover. However this new image still has to build on part of the ‘old’ image in respect of the quality of the products and the guidance from sales personnel. Changing the décor will make the pharmacies more open and create a better circulation in the store. This will result in more activity in the store, and ultimately the customers will buy more products on impulse and will want to revisit the store when more goods are needed. The expansion of the product range will make the pharmacies capable of focusing their marketing on the respective target groups. This will give the pharmacies more attention in local areas, than has been the case previously, and will automatically adjust the customer composition. Other strategy changes we are proposing are sales education of the personnel, development of web shops and product showcases.
|Educations||MSc in Economics and Marketing, (Graduate Programme) Final Thesis|
|Number of pages||120|