An exploratory analysis of the strategic marketing choices implemented by the UK biopharmaceutical SMEs Online publication date: Mon, 02-Jun-2008
by Calin Gurau
International Journal of Entrepreneurship and Small Business (IJESB), Vol. 6, No. 2, 2008
Abstract: The biopharmaceutical sector has known a rapid expansion in the last 25 years. Starting from the late 1970s and early 1980s, a large number of entrepreneurial firms have been created by scientists or by business professionals. Unfortunately, the small firms have been confronted with a complex and hostile environment, characterised by high levels of competition, high risks and large costs for product research and development. In order to survive and develop, these firms have adopted specific strategies or combinations of strategies. This paper attempts to identify and analyse the strategic marketing options adopted by the UK biopharmaceutical enterprises, and the factors that influenced their decisions. Based on a comprehensive analysis of secondary and primary data, this study synthesises the research findings into a dynamic model for representing the firms' evolution in terms of strategic choice.
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