Marketing Mix for Glaxosmith Plc

This presentation discusses the marketing mix strategies used by Glaxosmith Plc to promote their new products in the Indian market. It covers the product, price, place, and promotion aspects of the marketing mix, as well as the customer-based brand equity model and concepts of marketing communication. The presentation also explores the measurement of marketing success through sales targets, market share, and return on investment.

INDIVIDUAL
MANAGEMENT
PRESENTATION

TABLE OF CONTENT
 INTRODUCTION
 DISCUSSION
 CONCLUSION
 REFERENCE

INTRODUCTION
Marketing is a very important concept for every
organization and each requires different set of tools and
techniques for the purpose of increasing sales and
revenue of the company. This concept help the
organization when they are producing something new or
doing modification in the already existing products and
services, such that people can be made aware of these
products by using different tools of marketing.

DISCUSSION
Marketing mix of Glaxosmith Plc
As the organisation is concerned with the pharmaceutical business, and the company is planning to
launch a new product in the new market that is India because the pharmaceutical business is
growing at a rapid rate in India. The product which will be launched by the company is several
equipments which are used by the hospitals like blood pressure check machine, diabetes check
machine, pulse rate check machines.

CONTINUE...
Marketing mix
Marketing mix is the set of strategies which are used by the organisation for the purpose of
promoting the new products in the new market. This will help the Glaxosmith Plc in
identifying and analysing that the correct products are put at the rights place and at the
right time.
Product: It is the physical product for which customer spent a relevant amount of money in
order to attain business goals and objectives. This aspect contains the products quality,
durability, accuracy, performance, attributes, etc.
Price: It is the economic factor in which the price of the product is determined. It is one of
the main factor because customers of India are highly price conscious and before
purchasing any product they do proper market analyses and compared the prices with the
competitors.

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Place: It is the physical location from where the final sale will take place. The place is very
important to decide because product cannot be sold to customer from the manufacturing unit.
Promotion: This is another important element through which the product will actually be
communicated with the target audiences. With the help of different promotional tools the
Glaxosmith will be able to effectively communicate and convey people regarding the new
products and services which are launched by them in the Indian market.

CUSTOMER BASED BRAND EQUITY MODEL
It is very important to develop the set of customers and
encouraging them towards the offering of the products and
services of the Glaxosmith. For this, the customer based brand
equity model can be used which will help in depicting
customer attitude towards the brand.
Keller model of brand equity
The model of brand equity is developed by Kelvin Lane Keller
and is based on the intention that power of the brands success
is entirely lies with the customers.

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Brand identity: The first and foremost step is regarding the identity of the brand. In this, the
Glaxosmith will look into their products and offerings compared to their competitors.
Brand meaning: Under this, when the customer is aware about the brand then they will show an
interest in learning more about the brand and its products.
 Brand performance: The customer is very much concerned about the performance of the
brand. For this, the Glaxosmith will provide proper information to the customer regarding the
features of the products like the product is easy to carry, simple to use, provides authentic
results, etc.
 Brand imagery: Under this step, the organisation provides answers to the different questions to
themselves from the customer point of view.

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Brand response: When the customer purchases the
products and services of the brand, then they generate
certain kind of expectations towards the brands and its
products.
Brand resonance: This is the level in which the brand has
reached at the higher level in pyramid model of Keller.
There are very few brands which have accomplished
this level and it needs large number of social and
physiological connections.

CONCEPTS OF MARKETING
Integrated marketing communication is one of the most important concept which is used by the
organisations. This provides an assurance that all forms of marketing communication are
interlinked with one another.
Advertising: The paid form of making non personal communication about an organisation with the
help of an identified sponsor is known as advertising. This is one of the best way through which
customers can be tapped in mass by the Glaxosmith.
Advantages Disadvantages
This an easy way to create a value proposition and
also helps the customers in knowing the
difference between the brand and competitors
brands.
Promoting product through advertising is a very
costly affair and it also takes time to produce the
advertisements. Furthermore, the results cannot be
expected in advance.

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Sales promotion: This is the another important element of IMC where the organisation
produces different types of promotional strategies in order to produce sales.
Advantages Disadvantages
It will increase the sales
rapidly and also encourages
new customers in order to
generate the revenue.
The profits which will be
generated will be shot term
and it can also leads to
setting unexpected
expectations of customers.

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Personal selling: Under this, the seller of the Glaxosmith will put efforts in order to inspire and
encourage customers to purchase the products of the company.
Advantages Disadvantages
Due to personal contact, the
customer gets more information
regarding the brand and their
queries can also be resolved at
the same time.
It is expensive in nature and is confined to
the limited section of society where the large
number of people cannot be tapped.

Assessment of the measurement of the marketing success
Measurement is very important because it is the important element which leads the company
towards the success. The success of the new product that is blood pressure machine in new
market that is India will be measured by adopting KPI.
Sales target: This is the measuring tool of success for the organisation. It helps in setting goals for
the sales person or department through which the measurement is done by evaluating the revenue
and sale of units during the particular period of time.
Market share: It is treated as an organisation total percentage of total sales. This is measured by
considering the sale of Glaxosmith product over the total sale of the industry during a specific
time period.

CONTINUE...
Return on investment: This tool is very helpful in measuring the profit and loss for the company
which is generated by investing relevant amount of money. It is good and effective of it has a
higher level of flexibility.
Furthermore, it can improve these techniques in future by adopting more measurement techniques
which helps in knowing not only quantitative aspects of the products but also the qualitative
aspect which will help in knowing the changing needs and requirements of the customers.

CONCLUSION
From this presentation, it has been summarised that launching new product in a new market is not
an easy task. It requires lot of work and research. The organisation is needed to work closely in
knowing the buying behaviour and attitudes of customers of the country. They require heavy
investment in developing the product and encourage customers with the help of different IMC
tools to boost sales.

REFERENCE
Baker, M.J., 2016. What is marketing?. In The Marketing Book(pp. 25-42). Routledge.
Blythe, J. and Martin, J., 2019. Essentials of marketing. Pearson UK.
De Mooij, M., 2018. Global marketing and advertising: Understanding cultural paradoxes.
SAGE Publications Limited.
De Mooij, M., 2019. Consumer behavior and culture: Consequences for global marketing and
advertising. SAGE Publications Limited.
Kotler, P., and. et. al., 2017. Marketing for hospitality and tourism.
Kotler, P., and. et. al., 2018. Marketing management: an Asian perspective. Pearson.
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.