GSK. Marketing Strategy Report. Student. [Pick the date
Added on -2019-09-23
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GSKMarketing Strategy ReportStudent[Pick the date]
ContentsIntroduction.................................................................................................................................................2About the company.....................................................................................................................................2Development of marketing from "transactional to relationship" and market orientation policies of GSK4Transactional marketing and relationship marketing..............................................................................4Uses the relationship marketing techniques by GSK...............................................................................5Market orientations by GSK.....................................................................................................................5Practical application of relationship marketing in GSK............................................................................6Success of market orientation of GSK......................................................................................................6Evaluation of the potential impact of the UK’s decision to leave the EU on GSK’s marketing strategy.......7Situation in the UK after Brexit................................................................................................................7Impact of Brexit on GSK...........................................................................................................................7Reaction of GSK to the changes after Brexit............................................................................................8Identification and analysis of the current pricing policy used by GSK........................................................10Current price portfolio of GSK...............................................................................................................10Comparison of GSK’s price portfolio with the competitors...................................................................10Pricing strategies available for GSK........................................................................................................10Analysis of the chosen current pricing policies of GSK..........................................................................11Evaluation of the success of current pricing policies of GSK..................................................................12Improvements which could be made to GSK’s current pricing policies.................................................13Conclusion.................................................................................................................................................14References.................................................................................................................................................151
IntroductionThe purpose of this report is to give an insight to the Marketing Director of GlaxoSmithKlineabout its relationship marketing strategy, the impact of Brexit on the business and evaluate thecurrent pricing strategy of the company. This report will help the company in strategizing itsrelationship marketing, save itself from the adverse impacts of Brexit and make its currentpricing strategies more effective. About the companyGlaxoSmithKline is the biggest company dealing in the pharmaceutical, healthcare, andbiological products. It is based out of UK. It was formed by the merger of Glaxo Laboratoriesand Burroughs Wellcome & Company, together with the SmithKline Beecham ("Home | GSKUK," 2016). The company is popularly known by the abbreviation ‘GSK’. The company isspread in 117 countries and employs almost 110000 people worldwide ("Working at GSK | GSKUK," 2016). Out of the total workforce of the company, there are approximately 40,000 peoplewho work in the sales and marketing department of the company. The company is listed on thestock exchanges of London and New York. Some of the popular brands that the company sellsinclude Ribena (beverage), Panadol Zantac (anti-ulcer), Zavirax (anti-viral), (pain relief) andAugmentin (antibiotic) ("Products | GSK UK," 2016). The company tries to improve the quality of the life of people by giving them guidance for doingmore, make them feel better and help them in living a longer life. The company focuses oncontinuous innovation, and thus it undertakes the entrepreneurial spirit with enthusiasm. Thecompany is concerned about their performance, and for this, they realize that all the people in the2
world contribute to the sense of urgency, they have a passion for the success. Therefore, thecompany has entered into the diversity of life, and it declares all its statements accordingly. The company treats all its employees with respect and dignity so that they work effectively andserve the patients in the right way. The company has developed systems that help it to monitorthe activities all over the work and manage them so that the systems and the activities aredeveloped in the right way, and they work according to the plans of the company. The companystrategies majority of their moves with the help of employees. The concept of flexible workarrangements helps the company in making the life of the employees better; it ensures that theneeds of the business are met. Thus, the strategies are effective, and they give fruitful results tothe company.The business model of the company is customer-centric and innovative. This helps the companyin performing collectively, and thus, success is determined. The external environment has themajor impact on the company because the environment is complex and the changes keep onhappening in the environment that affects the company. To cope with this, the company hasdeveloped a culture of learning in the company that makes the strategy when any external factortries to impact the working of the company. The sales and marketing activities of the company are a major part of their business of vaccines,pharmaceuticals, and the consumer healthcare. These activities help the company incommercializing the products. With this, the vaccines are brought to the countries that are notmuch developed, the medicines are marketed, the new research is identified and manyopportunities for development come up. Thus, the products of the company and the brandbecome a preferred choice for the consumers in the world. 3
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