An Assignment on International Marketing Course Title: International Marketing Course code: MKT-0606 Submitted to: Dr. Md. Noor Un Nabi Professor Northern University of Business and Technology Khulna Submitted by: Name: Md. Tanvir Sakib ID: 22190110432 Exam access code: 65MV85CA Section: Major Marketing Submission date: 19.06.2020 The global markets have undergone huge change in the last few months. These changes were due to the outbreak of the pandemic which was first detected in Wuhan city of China. Covid 19 which has occure due to corona virus has taken many lives of people around the world. As the disease is spreading at a rapid rate many of the countries have ordered lockdown for maintaining social distancing. Due to the lockdown, many of the industries have halted their manufacturing units. There have been restrictions for cross boarder trading within the countries and also within the states. Owing to these conditions, trading conditions in various regions have been affected badly. The overall countries in the world are facing economic crisis thus affecting some of the major markets in the world. Corona viruses are a large family of viruses that are known to cause illness and ranging from the common fever to more severe disease such as Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS). As a Head of International Marketing at Beximco Pharma, I shall follow Shower Approach to expansion international market to address the international demand of Remdisivir in the COVID19 context. This strategy is known as simultaneous strategy, contrast to the waterfall strategy it has into account that the time used to reach different markets is short, looking for the advantages offered by each country simultaneously. Some individual country groups can, none the less, be entered before others. Shower approach can meet the international demand chronologically to the need of each affected countries by Covid 19. Because if I follow, waterfall approach, developed country can stock it in a bad intent, intermediaries syndicate, duty for import and export can be high etc. The shower market entry strategy is best suited for companies, who produce products with a short life cycle or whose products are in the introduction or growth phase. Here, it is high time to reduce or remove corona virus by meet the demand of Remdisivir in the international market. It could be marketed for a short time, because there’s a possibility to completely vanish Covid 19 like Spanish Flu. It also could not be vanish for forever. This is uncertain. Usually the shower strategy is supplemented by the price skimming technique, when the initial price is rather high and is lowered with time. This allows generating as much profits as possible in a relatively short period of time, taking into consideration profits from all the regional branches. Another thing to keep in mind with the shower market entry is the procedure standardization. As it is almost impossible to customize and adapt for each and every market entered, standardization plays an important role in keeping the business expansion process coherent and the incoming data comparable. Though this a standard medicine for all affected people by Covid 19, it not to customize. Of course, it does not mean that everything should be uniform - it is still vital to pay attention to. The shower market entry strategy is an effective method of outrunning competition and utilizing the first-mover or technological advantage. While the competitors enter just one or two markets at a time, the business in question raises the brand-awareness in many more markets. Even if the competitors also enter these markets, they will be seen as followers, rather than as innovators. The business that uses the shower market entry strategy has more time to analyze the market and make adjustments. An early simultaneous entry also means more possibilities for registering intellectual property, which hinders the later advance of competitors even more. Another advantage is the amount of income from a large number of entered market, especially if the business expansion was successful in the majority of the markets. Besides just receiving profits and using them to develop the company, this also gives another advantage - the profits from successfully entered markets can be allocated to less successful regional branches, thus minimizing the risk of withdrawal across all the markets. This makes the shower strategy advantageous in the long-run, if Covid 19 stays for a long time. In response to the COVID-19 pandemic, Beximco Pharma has taken various proactive measures to provide the latest, evidence-based treatment options for COVID-19 patients. The Company is committed to fighting this pandemic, in all possible ways, employing its competitive R&D and manufacturing skills. Beximco Pharma has already launched the anti-viral drug favipiravir (under the brand name Viraflu), as well as the repurposed antimalarial drug hydroxychlorquine (under the brand name Kovicin) and anti-parasitic drug ivermectin (under the brand name Ivera) as potential treatments for COVID-19. Present market status: Enters licensing and marketing agreement with Beximco Pharmaceuticals Bangladesh for Covid-19 treatment drug Remdisivir. SEARL will import Remdesivir in finished form, trading partnership is not as lucrative as a manufacturing agreement. We expect SEARL to price the drug similarly to Beximco in Bangladesh. Beximco will sell Remdesivir for about BDT6,000 (US$71) per vial to private clinics, but will give it for free to state-run hospitals treating Covid-19 patients. A critically ill Covid-19 patient will need at least 6-11 vials. This means it will cost BDT66,000 (US$782) worth of the drug for full treatment.