The new coronavirus strain known as Kappa was developed by the Australian startup company KC Pharmaceutical Company. The Therapeutic Goods Administration TGA, which is Australia's regulatory body, provided the information used to approve the Kappa variety's presence there. The market structure is characterised by oligopolistic competition (Florio and Gamba, 2021). Its roots are in the pharmaceutical industry. Due to the availability of the nasal spray vaccination kC1 to deal with or combat the new version of covid-19, the competition thereby amply proves that the company can dominate the market.

Theoretical Market model – Economic Equilibrium

The most effective marketing strategy for a pharmaceutical company is oligopolistic competition. The idea that pharmaceutical organisations exist all over the world forms the basis of it. The farm does, however, have a case of nasal spray vaccination for the novel coronavirus Kappa strain. As a result, it controls the market while continuing to provide a free market where vaccines can be sold to different countries.

Oligopolistic market structure

The oligopolistic market structure of the pharmaceutical industry makes it so that the KC Pharmaceutical sector has significant social and economic value (Emamgholipour and Agheli, 2019). Competition is monitored by regulatory bodies as well as public opinion. Companies like KC Pharmaceutical kcannot operate in isolation. Because they need permission from regulatory authorities before they can sell prescription drugs to customers or people living anywhere in the world.

KC Pharmaceutical Organization competes in an oligopolistic market with higher prices and greater profitability. There isn't much competition from other rivals. because it is uncommon for one Pharmaceutical organisation to possess the vaccine for a particular disease As a result, it suggests that economic equilibrium may be possible.

For a product or treatment to be profitable, supply and demand must be in balance. In terms of market competitiveness, KC Pharmaceutical is currently in an equilibrium position (Raboisson et al., 2021). The company plans to introduce the KC One nasal spray vaccine for the new variant in Australia.

The main lesson learned from China's history is that a virus or illness knows no national boundaries. Therefore, it is essential to stop the virus's spread as soon as possible. Additionally, the nasal spray vaccination against the new kappa variant, kc1, is more effective. Given that it could potentially replace Pfizer and Astrazeneca and that every country requires the KC1 nasal spray vaccine, there is a sizable market for the pharmaceutical industry to pursue the profit and loss equilibrium position (Chang et al., 2019).

As an alternative, it is crucial to understand that every country or nation must make the nasal spray kc1 vaccination available to the public before the virus enters the region or the population. Whether people are infected outside of Australia is unknown. It is impossible to say that people living outside of Australia are unaffected by the novel coronavirus type. It is likely that the disease has spread to some people because there is ongoing travel through the airlines and people are going to other countries.

However, the vaccine's marketability suggests that it can achieve enormous economic equilibrium given the high demand from many countries to save their citizens and prevent a further global lockdown.

Selling Strategy – Suggestion

Because of its oligopolistic market structure, KC Pharmaceutical faces fierce competition when trying to sell vaccination treatments all over the world. Before discussing the company's selling strategy, it is important to keep in mind that there is fierce competition on a global scale. Because it offers a solution to the most urgent issue facing the world, which depends on the release of the new Covid-19 after the Deadly Delta variant (Florio. and Gamba, 2021). The world has now realised that coronavirus can instantly introduce a new variety of viruses to pharmaceutical companies or industries anywhere in the world.

They ought to be taken into account or included on the research and development team so they can immediately react with vaccinations or treatments for the novel COVID-19 variations (Shabaninejad et al., 2019). Realizing that vaccines and nasal spray containers are made all over the world is now crucial. As a result, pursuing understanding and orders from other regions doesn't require as much efficiency and effort. Its purpose is to provide information to various administrations around the world so that they can understand the importance of providing their citizens with the KC1 nasal spray and vaccination in order to save their lives.

Marketing Campaign through Social Media

to avoid the circumstance that previously happened by placing restrictions on people's travel. Due to the fact that it has now become crucial to move in the direction of being better positioned, the selling strategy should be focused on the campaign, which is the pharmaceutical company's social media marketing campaign. It is a more potent platform where not only the inhabitants of the countries, but also their governments, are represented. Therefore, it is crucial to carry out a social media marketing campaign to reduce misunderstandings among various countries regarding the new release of the COVID-19 version in Australia.

Additionally, a vaccine used in clinical studies as a nasal spray was 98% effective against the novel strain. Additionally, it is used in place of Pfizer and Astrazeneca. Because of this, it presents an opportunity for other nations to adopt and experiment with it for the benefit of their citizens. The vaccine will be bought to save lives because the marketing strategy will get positive feedback from the general public (Hensher and Dona, 2022). In a short amount of time, it will be very profitable.

The organisation will benefit from the marketing effort. due to the fact that it will be based on a cutting-edge idea for educating people about the social media platform. Everyone is on social media, regardless of status or influence. On social media, there are many people who are connected to different organisations, regular people, or government authorities. Making the right decision to use the social media platform for a restart marketing campaign will be advantageous as a result.

The pharmaceutical company will thus be able to boost its profitability while also satisfying the needs of other areas. The KC pharmaceutical company in Australia is now the only place where people around the world can get the nasal spray KC1 vaccination. Therefore, it is essential for the company to recover the high costs related to business establishment or vaccine production. Therefore, it is crucial to obtain a high-quality vaccine that is 98% effective for people as well as a larger profit margin.

It would eventually increase people's motivation and faith in the various pharmaceutical companies that, despite the significant expense of their research and development to produce timely vaccinations and treatment against deadly infectious diseases, are working for the welfare of the people.

Possible Market Structure for KC Pharma

The pharmaceutical company is in a better equilibrium position because KC Pharma has a high profit margin. There is no such company in competition, aside from the availability of Pfizer and Astrazeneca vaccine for coronavirus pandemic sick people (Jagannarayan and Indira, 2021). On the other hand, the company is making a lot of effort to protect people from the new coronavirus type. As a result, selling vaccines to other countries around the world has the potential and certainty of earning more money.

The government must spend millions of dollars and many years before it will fund the widespread development of vaccines against infectious diseases like the coronavirus. These are the shots that, when administered once, provide lifetime protection. The strategy is therefore based on a high initial investment and extraordinary efforts to pursue commercial endeavours and address the needs of infectious diseases. The drug's development for the new viral type occurs in the research and development department, which has a significant investment return.

Oligopolistic Market Structure for KC Pharma

In the case of the pharmaceutical industry, modern oligopolistic competition is a conceivable market structure. It is based on the company's stronger global sales position in the vaccination drug market. However, it is true that a sizeable sum of money was used to create a research and development department to work on a successful vaccine for new viral variants. It has since spread outside of Australia. However, due to its potential for global spread, there is a sizable market for the company in which every nation would buy the vaccine in the initial stages in order to save the lives of the citizens in that nation.

Overall, there is a greater capacity for vaccine production and availability, allowing for the continuation of global operations without a lockdown or mobility restrictions while providing a safe haven for people's lives. Delta coronavirus showed the world that it is capable of looking for new opportunities whenever and wherever they may be (Ramrez and Serna, 2022). It is crucial that vaccine producers keep making vaccines in order to cover or combat the coronavirus's growing impact on the world's population.

The fact that the new Kappa variant kc1 vaccine is very expensive is crucial for the teacher of goods administration. Additionally, it is unable to produce the quantity required by the various countries. Although high prices can result in high profits, there should be an improvement in market efficacy and efficiency to meet global consumer demand. The Therapeutic Goods Administration was convinced by the argument to comprehend the substantial supply of vaccines needed to combat the new coronavirus variant and to assess the market dynamics.

It is based on an oligopolistic competitive market in which pharmaceutical corporations have a dominant position to meet the needs and desires of many different countries. Because the initial costs of pharmaceutical companies are always high, the corporation is currently working to create an economic pyramid in order to achieve a better equilibrium position and have the equilibrium and demand and supply of different nations. As a result, the cost of vaccination may rise and be made more affordable for wealthy countries, while developing or underdeveloped countries may receive assistance in containing the virus's spread throughout the world.

Long Run Economic Profitability for KC Pharma

Only when demand and supply of the drug produced by the company are balanced can a pharmaceutical firm achieve long-term economic equilibrium. In order for a business to sustainably capture the market, it is not enough to produce or manufacture vaccines in order to adapt to the various needs of medications related to health conditions (Tsao and Wang, 2022). Consequently, in order to maintain workplace uniformity and maximise profitability.

In order to provide high-quality vaccines or treatments, it is essential to have an economically significant quantity, which is only possible when the organisation can promptly meet demand from any country. Demand and supply must be in an equilibrium position to guarantee the company's economic activity, and for the organisation to succeed, it must have a variety of stakeholders and then function properly to meet the needs and demands of the various nations.

The management of the business must therefore choose a long-term strategy based on identifying the requirements of global health challenges and then producing medications appropriately. There must be a sizable investment made in research and development to meet the needs and desires of the nations. Both the company/industry and global safety will gain from it.


References

Chang, C.W., Yamanaka, T. and Kano, S., 2019. An enforced loop-out knowledge flow facilitates industry competition: Learning from the pharmaceutical and genetically modified seed industries. Technovation, 79, pp.11-24.

Emamgholipour, S. and Agheli, L., 2019. Determining the structure of pharmaceutical industry in Iran. International Journal of Pharmaceutical and Healthcare Marketing.

Florio, M. and Gamba, S., 2021. Biomed Europa: after the coronavirus, a public infrastructure to overcome the pharmaceutical oligopoly. Annals of Public and Cooperative Economics, 92(3), pp.387-409.

Florio, M. and Gamba, S., 2021. Biomed Europa: after the coronavirus, a public infrastructure to overcome the pharmaceutical oligopoly. Annals of Public and Cooperative Economics, 92(3), pp.387-409.

Hensher, M. and Dona, S.W.A., 2022. COVID‐19 vaccines, boosters and mandates: building a mission economy, not a rentier paradise. The Medical Journal of Australia, 216(11), p.556.

Jagannarayan, N. and Indira, A., 2021. COVID-19 Vaccine Production in India–Changing Market Scenario. Shodhsamhita: Journal of Fundamental & Comparative Research.

Raboisson, D., Ferchiou, A., Corre, T., Perez, S., Sans, P., Lhermie, G. and Dervillé, M., 2021. Could Contracts between Pharmaceutical Firms and French Veterinarians Bias Prescription Behaviour: A Principal-Agency Theory Approach in the Context of Oligopolies. Antibiotics, 10(2), p.176.

Ramírez, H.D.V. and Serna, F.A.V., 2022. Stock price performance of pharmaceutical companies: pre-vaccine COVID-19-post-vaccine COVID-19. Revista de Estudios Empresariales. Segunda Época, pp.68-93.

Shabaninejad, H., Yusefzadeh, H., Mehralian, G. and Rahimi, B., 2019. The structure of the world pharmaceutical market: Prioritizing Iran’s target export markets. Iranian Journal of Pharmaceutical Research: IJPR, 18(1), p.546.

Tsao, Y.H. and Wang, C.C., 2022. Do Public Announcements of Drug Development Events Influence a Drug Company’s Market Value? A Study on Pfizer. Journal of Library and Information Studies, 20(1), pp.49-67