E ISSN: 2583-049X

International Journal of Advanced Multidisciplinary Research and Studies

Volume 3, Issue 5, 2023

Comparative Evaluation of the Cost Focus Strategy in Pharmaceutical Firms between Respondents

Author(s): Le Anh Tuan, Pham Ngoc Yen, Truong Duc Dinh, Mai Van Ban


According to statistics from the Vietnam Drug Administration, the pharmaceutical industry will continue to grow in double digits in the next 5 years and reach 7.7 billion USD in 2021, expected to reach 16.1 billion USD in 2026, with a compound growth rate of up to 11% in Vietnamese Dong (Minh Hoa, 2023) [8]. The pharmaceutical industry and pharmaceutical firms also face challenges such as outdated technology in both production and distribution, unoptimized and fragmented production processes, and limited planning. This study's goal is to compare the evaluation of the cost focus strategy in pharmaceutical firms between respondents. To achieve the objectives of this study, the qualitative and quantitative approaches were utilized. The population of interest was pharmaceutical firms in Hanoi, Vietnam, which was employed to select the sample for this study. Multiple statistical techniques were employed for data analysis, including SPSS via the independent t-test and ANOVA. The study's results indicate that there is no difference in assessing the cost-focus strategy of pharmaceutical firms in Hanoi between different subjects in terms of gender, academic standards, job position, career seniority, and age. This study offers theoretical and practical implications for improving the business performance of the pharmaceutical firms in Hanoi. Based on this result, the study proposes some recommendations for pharmaceutical firms and employees.

Keywords: Competitive Strategies, Pharmaceutical Firms, Cost Focus Strategy, Differences, Business

Pages: 379-383

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