Promotional Activities for Vaccine’s Market Development in Bangladesh: Advances So Far and Prospects Ahead

Shobod Nath, Mithun Acharjee, Md. Kashedul Tuhin and Md. Nuruzzaman Forhad

International Journal of Business and Management, 2016, vol. 11, issue 3, 223

Abstract: In this paper we have investigated how to take initiative to increase the awareness among the Bangladeshi people about the vaccine from both government and private sectors. For this purpose, we considered three companies (GlaxoSmithKline, Sanofi Bangladesh and Novartis Bangladesh). The research draws attention to the fact that Non EPI vaccines are being thought of as a segmented item instead of a generalized one. Non EPI vaccine intake is higher mostly among educated people belonging to a medium to high income bracket. Other factors that affect the sales of Non EPI vaccines include a negative general perception about Non EPI vaccines and insufficient level of awareness. Fear of injection was also seen as an important factor. The research concludes with some recommendations, Vaccines are being supplied to the people at the lowest possible prices. Unfortunately these low prices exceed the purchasing power of majority of the population. Awareness level of Non EPI vaccines is low. This is the key issue that companies should focus on. By raising the awareness level, it will be possible to positively change the mindset of possible customers. If the mindset can be positively changed, price sensitivity and fear of injections will automatically drop. Government can either choose to subsidize these vaccines or manufacture these vaccines locally by using the expertise of the multinational companies in the country and the country’s skilled labor force. Provided that the quality is maintained, this initiative will significantly lower the prices of these vaccines.

Date: 2016
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