Marketing strategy of Tra Vinh Pharmaceutical Joint Stock Company in 2023-2024: A 4P-based analysis

Introduction: As Vietnam's pharmaceutical sector experiences rapid growth and heightened competition, the need for effective marketing strategies is paramount. This study addresses a gap in the existing literature by offering a detailed 4P-based analysis of the marketing strategies of a key local player, Tra Vinh Pharmaceutical JSC (TV.PHARM), from 2023 to 2024. Methods: The study used a descriptive, retrospective design to analyze the marketing activities of TV.PHARM's product lines from January 2023 to December 2024. Data were collected from TV.PHARM's internal reports, corporate publications, and secondary industry sources. The analysis was guided by marketing-mix theory (4P), with data processed using Excel and Word. The findings are presented descriptively, supported by tables and figures. Results and discussion: Findings show that TV.PHARM offers a broad product portfolio across multiple therapeutic areas, including nine formulations under its Travicol brand. The company applies product lifecycle management, as illustrated by the relaunch of Suspengel with improved packaging and taste. Its pricing strategy combines competitive generic pricing with frequent trade promotions, helping to increase distribution volume. The company’s nationwide network includes 3 factories, 22 branches, and over 25,000 points of sale. Digital channels such as mobile apps and e-commerce platforms have been adopted to enhance reach. Promotion integrates push-and-pull. Activities in 2024 included school health programs, flood-relief donations, medical conference sponsorships, and social media outreach. These strategies contributed to strong growth—for example, +42.2% new customers in Khánh Hòa province. Conclusion: TV.PHARM's cohesive marketing mix demonstrates effective implementation of the 4Ps in Vietnam’s pharmaceutical context and provides a model for other firms in the industry.