STRATEGIC MARKETING: A STUDY OF PHARMACEUTICAL SMES IN TELANGANA

Pharmaceutical SMEs need to understand and set the strategic direction in which they have to work to achieve survival and growth in the face of intense competition. Firms need some light on what markets to serve, what strategies to follow, and which products to develop and introduce. Success factors as related to strategy have to be identified for the benefit and guidance of the industry. This article is an outcome of our research on 80 pharmaceutical SMEs located in Telangana of India. Data was collected through a questionnaire and analysed with Kruskal Wallis Tests to unravel the relationship between product and market strategies chosen, and firm’s financial performance, i.e., sales revenues and profits. Originality: There are no studies done on strategic marketing of pharmaceutical SMEs of Telangana, and this study fills that gap. Important Findings: Major Market chosen to serve influences profits but not sales revenues. Entry Motivator predicts the sales revenues and profit performance of a pharmaceutical SME firm in this part of world. Product type influences both sales revenue quotient and profits quotient. Major Business Strategy does not predict Sales Revenues and Profits. Implications for Managers: Managers will able to see the strategic pathways that lead to firm’s financial success.