Tailoring marketing mix and firm's performance: A study on pharmaceutical smes in Telangana

This article sets out to investigate the effects of the chosen marketing mix decisions on the business performanceof 80 small and medium pharmaceutical enterprises in Telangana of India. The study took each enterprise's specific choice from the varying categories of marketing mix variables and the data of financial performance relating to 2019. Statistical tests were performed to unravel the link between the specific marketing mix decisions and their impact on sales revenues and profits.

Kruskal-Wallis and Mann-Whitney tests were performed.

Sales maximation objective is better for profits performance of pharmaceutical companies. As regards price,current Market Price basis comes out as a better method for a good performance of Sales Revenues. Type of Product/Business influences Sales Revenues and Profits. Businesses with APIs and Formulations are good for both Sales Revenues and Profits. Middlemen Method of distribution is good for Sales Revenues and Wholesale Method of distribution is good for Profits. Promotion method and Advertisement media chosen by a firm makes no difference for firm's sales revenues and profits.

Firms should be guided by sales maximisation objective. Pricing should be in line with what is going in the market. Businesses and products with high value addition influence the firm's performance.

The sample is small and the respondents are SMEs (small and medium enterprises) operating in Telangana state of India. The findings are rooted in local practices and hence should be generalised with caution for their applicability elsewhere.