International Marketing and Brand Management

This document discusses the strategies and considerations for international marketing and brand management, focusing on Abbott, a pharmaceutical company. It covers Abbott's nature of business, core competencies, current business performance, and brand popularity. The document also explores the decision to internationalize, market entry strategy, and marketing mix program to support internationalization.

Running head: INTERNATIONAL MARKETING AND BRAND MANAGEMENT
International Marketing and Brand Management
Name of the student:
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Executive Summary
The paper aims at the business Of Abbott which is a pharmaceutical company and
the expansion of the business in China along with the potential marketing mix
adopted in the research theory has been conducted in a detailed manner. The
budget requires and the marketing mix strategy which must be undertaken by the
company have been depicted in detailed manner in the study and further implication
on the growth of the business in the future in the market have been discussed
accordingly.

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Table of Contents
1. Introduction:...........................................................................................................4
1.1 Abbott (UK) Nature of Business.........................................................................4
1.2 Abbott (UK) Core Competencies.....................................................................4
1.3 Abbott (UK) current business performance.....................................................4
1.4 Abbott (UK) Brand Popularity..........................................................................5
2. Decision to Internationalize:...................................................................................6
2.1 Abbott (UK) Objectives....................................................................................6
2.2 The International Abbott Market Sector..........................................................7
2.3 Segmentation, Targeting and Positioning.......................................................7
3. Market to Enter.......................................................................................................9
3.2 Options and Considerations................................................................................9
3.3 Market Entry Strategy.........................................................................................9
3.4 Strategic Recommendation...............................................................................10
4. Marketing Mix Programme to Support Internationalization.................................10
4.1 Product..........................................................................................................11
4.2 People...........................................................................................................12
4.3 Place..............................................................................................................12
4.4 Promotion......................................................................................................12
4.5 Process..........................................................................................................13
4.6 Price..............................................................................................................14

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4.7 Physical Evidence.........................................................................................14
5. Budget...............................................................................................................15
6. Monitoring and control.........................................................................................16
7. Conclusion...........................................................................................................18

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1. Introduction:
1.1 Abbott (UK) Nature of Business
Abbott solutions develops the healthcare solutions specifically for the residents of
the UK and it produces the diagnostic tools that further helps the patients to get
getter health related solutions. This company further develops medicines which are
required to cure the diagnosis patients in order to ensure that the patients becomes
healthy and active after such cure. This company improvises tools and techniques
needed to cure patient through the help of the expertise regarding such cure.
1.2 Abbott (UK) Core Competencies
The core competencies of the companies is that the application or further the
improvisation of the new technologies in this field which would further help this
company to outperform the competitors of the companies in such a competitive
market. Pharmaceutical and the medical device manufacturers must try to develop or
rather improvise a companion product in the market. In order to enhance the current
strategies of the business this company needs to improve the companion diagnostic
products and further revise the current strategies developed in this market.
1.3 Abbott (UK) current business performance
The current business performance of the company is satisfactory as per the
income statement of the company (Ahmed and Rahman 2015). Hence the upper
level management of the company needs to further utilize the key strategies required
to further improve the current business performance of the company. In order to
enhance the flow of cash in the business the company must improve some new
diagnostic tool which is still not being introduce in the market. Accordingly the

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business of the company must take such sort of advantage in order to stay ahead
among the competitors of the company. The access to new tools in the experimental
labs will further provide the employees of the company new confidence to improve
the diagnostic process of the company.
1.4 Abbott (UK) Brand Popularity
Abbott is a popular brand name in the pharmaceutical industry all over the world
and thus considered as one of the renowned in this industry and when it comes to
diagnosis of any kind of diseases this company is expert in developing innovative
tools in the market (Akter et al. 2016). This company has expert physicians to
support any kind of disease to cure faster and smoother. The diagnostic tools
implemented by this company is faster, accurate and reliable which further helps to
improve the most critical operations of the patient information throughout the
hospitals.

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2. Decision to Internationalize:
Making marketing strategy plays crucial role in the development of the new
business of Abbott in China. China is a densely populated country which is further
enriched with the technological advancements. The marketing objectives which must
be undertaken or rather focused in the conducted study is the competitive pricing
strategy, improvisations of new tools and technology in the market, advertising
strategy must be website based or through the social media in order to reach the
customers in the internationally. Packaging of the final products in the market must
be strong and attractive and this would further help the potential customers in the
market.
2.1 Abbott (UK) Objectives
The core objective of the company is that this company helps the people to take
charge of the health related diseases. For this purpose the company takes certain
initiatives to innovate technologies to cure their diabetes and further helps them to
manage the conditions. This companies is trying to implement the next generation or
the modern tools and technologies, there is also further investment in the research
and development of the company for the purpose of improving the diagnostic
treatment. The employees working in this companies are far more experienced in
this industry and the lavatories are full of the web based tools.
In case of internationalize the brand it will be better for the company to further
expand their industry in the field of diagnosis tool in China. Capturing huge market in
China will be a brilliant decision. If the company wants to expand their business in
china then the company will be able to get access to the technological

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advancements of China. As in case of the new age technology, China is far
developed compared to the other countries. Hence in that case the company needs
to come up with great tools or perhaps intelligent idea for grabbing a large share in
China.
2.2 The International Abbott Market Sector
The strategy which must be adopted by the Abbott Market Sector is to capture
the niche market which further means that by improvising this diagnostic techniques,
it is significant for the company to grab the basic market needs at first place. In order
to increase the demand of the market it is significant for the company to innovate
new diagnostic tool which would provide better outcome (Wu and Li 2018).
Marketing position of the company is an important strategy which plays key role in
that case. As Abbott is a huge brand in the pharmaceutical sectors thus it would
basically provide reliability to the patients on the systems of the hospitality shared in
this company. In order to stay ahead among the competitors of the other company,
delivering the solutions to the customer through online websites would further help
the customers and adding a feedback system would further enhance the relationship
with the customers. Building strong network globally for such a pharmaceutical brand
is significant to connect to the customers internationally and getting feedback and
coming up with a new solution in the market is significant. This would further
enhance the reliability of the customers and in this way the company will be able to
grab large share in the market.
2.3 Segmentation, Targeting and Positioning
Market segmentation and positioning plays significant role in the creating the
base of the expanded business of an organization. The strategy of this company is to
attract the potential customers in the market which further means that the target

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market. The segmentation profile which must be set by this company is the
demographic profile in this particular case. This is part of the strategy and the
developing plan of the company in order to make the business successful in the long
run. The company must position their brand in way that is unique or rather must
provide a unique feature in that case. The innovation of the new technology of the
company must be positioned in such a way that the company must be able to grab
large share of the market. Improvising it unique features and developing
technological tool which must be attractive to the customer’s so that customers must
be satisfies with the delivery of the accurate performance as per the needs of the
market.
In case of targeting Abbott is such huge brand which must always go the needy
customers or the niche customers in order to compete with the other pharmaceutical
companies in the same industries (Baker, Collier and Jayaraman 2017). Thus in

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order to target the potential customers, the company’s marketing strategy must be
effective in order to beat its competitors in the same line of business. It is also
significant for the company to upgrade their tools and diagnostic techniques in order
to stay ahead among the others.
3. Market to Enter
According to the business growth of this particular company, this company must
target the customers of the large income group sector as the brand name of the
company is huge. This would easily help the company to grab large shares bin the
market. Accuracy, customer satisfaction and reliability plays significant role in the
business growth of the company (Armstrong et al. 2015).
3.2 Options and Considerations
The consideration which must be made in this case is the effective survey
before expanding such business. Expanding business in China is effective and the
reason behind that is China is a densely populated country and the demand for this
kind of industry is huge. The profit making possibility in this kind of business is huge
if the company is abler to grab large share in the current market (Buckley, Burton
and Mirza 2016).
3.3 Market Entry Strategy
This strategy must be effective in this business line as customers satisfaction
is the key importance. Providing the customers the exact solution to their problem
and further performing the diagnosis of the patients at maximum level of accuracy

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and at the right time without any delay or rather delivering the product in the right
time plays a significant role in that case (De Mooij 2018). The investment in this case
must be effective of the marketing strategy of the company works according to the
decision and the plans executed by the top level management of the company.
In order to enhance the expansion of the business, the company needs to
work out on developing Asian partnership with the company which will further
enhance the brand name of the company. Creating partnerships with the top
pharmaceutical companies of China will help the brand the get more success at the
early stage. Hence in order to start the business it is significant for the business to
gather fund and estimate the budget needed to start new business in China. Hence,
estimating the total cost required to start new enterprise and the marketing cost
along with it.
3.4 Strategic Recommendation
The SWOT analysis of the company as well as the competitors company must
be performed in that case in order to in order to identify the potential strength,
weakness, opportunity and threat in the market. The company must definitely work
on their weakness and it must be improved accordingly in that case (Hartsfield,
Johansen and Knight 2017). The formula of a winning business strategy for this kind
of business is that strategic marketing plans and the financial position of the
company must be strong in case of demographic expansion of the business. The
pricing strategy and the operational strategy must also be effective in that case in
order to grab the potential market as per the need or the requirements of the market.
The company must further investigate on the surrounding opportunities in this line of
business and it becomes significant for the company to grab those opportunities in
order to become successful in the long run. In order to enter the niche market as per

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the demand of the product, Abbott need to make effective marketing strategy to
attract the potential customers (Baker and Saren 2016). Hence the planning of the
company must be properly executed in the marketing mix so that the company must
be able to reach the customers in the market by expanding the current business.
4. Marketing Mix Programme to Support Internationalization
The four P’s in the marketing mix is the product, price place and promotion of the
company (Patil and Bach 2017). This is a very significant strategy used by the
organizations. In order to start a new business in China stringent marketing strategy
is needed in order to stay ahead among the competitors of the company. Hence
effective planning in the marketing mix strategy for the Abbott plays a crucial role in
that case for developing their origin in or base in China. This strategy is related to the
enhancement of the business operations of the company if the four P’s in the
marketing mix are applied such a way that the company can execute according to
the decisions taken by the upper level management of the organization. The seven
P’s in the marketing mix is the product, people, place, promotion, process, price and
physical evidence. In order to ensure smooth run in the business the strategy related
to the seven P’s must be taken in that case to further enhance the expansion of
business.

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4.1 Product
Abbott laboratories is one of the world’s leading among the other healthcare
industries and it also provides wide range of the technological advanced products. It
also offers the nutritional products, medicines and vaccines which falls under the
marketing mix pricing strategy. In order to internationalize the company needs to
develop the packaging material with some of the interesting aspect which would
further increase the customer’s interest. The company must come out with new
medicines for the diabetes patient. The quality of the products in that case must be
improved and further improvisation in the techniques of making such product must
be maintained.
4.2 People
The people in the Abbott are the patients and in order to serve them in a better
way the company must provide online services in order to serve the patients in a

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more fast and accurate manner. Delivery of medicines to the patients in the online
basis will be effective and efficient which will further attract the customers and the
reaching the customers will be fast. In China, it might be effective as per the
population of the country is high and for that providing online services to the
diagnosed patients.
4.3 Place
Abbott supplies medicines and health care services all over the country and in
order to target the potential customers the advertising and the marketing channel of
the company must be effective (Eteokleous, Leonidou and Katsikeas 2016).
Delivering or supplying the healthcare kits through online basis will further help the
customers to get easy access to the products of the Abbott. In case of the online
sales the suppliers strength must be strong in order to ensure that the sound network
build up by the company through the process of the innovation and introduction of
the new and the attractive feature on the product of Abbott. The company must open
large retails in order to increase sales all over the China in order to reach the
customers in a more user friendly manner (Todorova 2015).
4.4 Promotion
Abbott laboratories generally use the traditional method of advertising which
media, television and newspapers. Hence, the channel of promoting strategy of
products of the company must be changed in order to grab the potential customers
in the market (Cawsey and Rowley 2016). Advertising plays a significant role of any
kind of business and accordingly advertising through the social media in modern
technological era is significant in that case. Advertising through the social media is
effective as it would help the company to reach the maximum number of customers
reach in the market.

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Various promotional strategy must be executed and applied by the company but
the most significant promotional strategy is that advertising through the social media
or the social media application applicable in the modern technological advancement.
This will help the customers to get the latest updates of the upcoming medicines or
tools or treatment methodology of the company. Through the application based
system the company must add a feedback option in the application of the software of
the company (Heding, Knudtzen and Bjerre 2015). Hence this customer’s feedback
will help the company in the long run and further change the diagnosis analysis can
be made accordingly. This is an important strategy which must be perfected
executed and implied in the business of the company.
After the business goes successful in the coming three years from the
commencement of such business in the company, the company needs to analyse if
there lies any glitches in the system of the company (Morgan, Feng and Whitler
2018). The company needs to add sponsorship and partnership in the business in
order to enhance the growth of the business in the long run.
4.5 Process
The inventory management of the company must be strong and effective in order
to ensure that inventory level management of the company must smooth (De Mooij
2015). This would enable the retail stores of the company to serve the customers in
a smooth and more effective manner. Further research the market opportunities as
per the needs of the customers getting feedback from the customers for further
development also plays significant role in the development in the business or the
growth of the business of the company (Tan and Sousa 2015). The inventory of the
retail stores of the business must be maintained and executed in such a way that the
company ensures that the business of the company is run effectively.

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4.6 Price
The pricing strategy of the company must be strong and further improvisation of
the products will automatically help the company to become successful in the long
run (Hsu, Fournier and Srinivasan 2016). Competitive pricing strategy in the market
will help the company to stay ahead among the competitors of the company. The
research and development of the company must be effective in order to ensure that
the competitive price of the products has been set accordingly.
The price set by the company must be monitored and controlled as per the
ongoing business of the company (Baker 2016). The competitive pricing policy must
be set and proving service at a low price by giving offers and discount of the
medicines and treatments the company will automatically attract the potential or the
needy customers in the market. Accordingly, the company needs to manipulate the
price as per the production of the company (Kienzler and Kowalkowski 2017). As it is
a new business in China, thus offering some free treatments and diagnostic analysis
will attract the customers of China and for that Abbott will automatically can set a
strong brand name if the quality of such services is maintained accordingly. This is
the only technique which must be adopted by the company in order to give a tough
competitions to the other competitors of the company.
4.7 Physical Evidence
The packaging strategy of Abbott must be improved in order to compete with the
competitors in such a competitive market (Chang 2016). In the retails stores of the
company, attractive shelves or rack must be provided so that the customers get
easily get access to the products of the company. In case of the online stores
through the websites, the Abbott online website must be user friendly with many
more features will attract the potential customers in the market (Kotler and

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Armstrong 2015). Along with that the company must also maintain good quality of
the products in order to ensure customer satisfaction at the end of the day.
Execution of the effective strategy in case of the packing system of the company
needs to improve on a continuous basis for giving tough competition to the
competitors of the company. The quality out of the box must be attractive which
would automatically help the company to attract the potential customers in the
market. This in the near future will help the company to achieve the goals of the
organization in the long run.
5. Budget
The total cost of the budget has been allocated accordingly and the cost is
forecasted on the basis of the three years (Heinze 2017). For starting an enterprise

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in China these are the basic projected cost for the coming three years and thus from
the projected budget it can be interpreted that due to the expansion of business the
cost for the business also increases gradually. The cost incurred for the technology
is higher as there are certain cost behind the up gradation of the technological tools
(Wongleedee 2015). The budget of the company is based on the long term forecast
of the business and it is an expectation which the company expects in order to
achieve the forecasted budget.
This forecasted budget will further help the management to ascertain the basic
investment required to develop the business and on the basis of that estimation is
made accordingly (Henri, Boiral and Roy 2016). In the above cost statement it is sub
divided into two parts which are the recurring cost which is the cost which is incurred
on a regular interval basis and non-recurring cost refers to the cost where the
interval such cost is periodic in nature, such cost may or may not take place in a
year. Hence, before taking any management decision this budget helps the
management to manipulate the cost of the products accordingly (Higgins, Omer and
Phillips 2015).
6. Monitoring and control
Once the commencement of a new business then the company needs to adjust
ore further manipulate the revenue and the expenses of the company. The
management control over the business of the company must be strong and effective
in nature (Schivinski and Dabrowski 2015). In order to stay ahead among the
competitors of the other company the needs to adopt certain pricing policy so that
the company can give tough competition to its competitors. The monitoring and
controlling the inventory systems of the company mist be taken care of accordingly

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so that the clients can get the service needed as per the requirement of the clients.
Hence in this case it can be said that the inventory management system plays
significant role in order to ensure that the services of the client is maintained and not
stopped.
Monitoring the day to day activities of the business in order to understand the
flow of cash in the business as the negative flow of cash in the business must
restrained as the positive flow of cash in the business is important for ensuring
smooth flow of business in the organizations (Koo, Kim and Kim 2016). In the
marketing segment of the company, the company needs to pay attention to the
marketing strategy of the company and needs to monitor and control the strategy
adopted by the competitors of the other company. The company needs to further
analyze the financial position and the marketing strategy on a long term basis. The
marketing strategy of the company must be effective where the advertisement
through the social media is important and accordingly strategies are needed to be
made and manipulation of the advertisement strategy is needed in order to beat the
competitors marketing strategy in that case (Morschett, Schramm-Klein and Zentes
2015).

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7. Conclusion
In the above discussion it can be concluded that marketing strategy plays
significant role in the commencement of any kind of business (Wu and Naidoo 2016).
The execution of the marketing mix for any kind of business must be effected in such
a way that the company must be able to implement the business strategy. The
strategy which has been drawn in the conducted study of the business is accurate
the company must follow the instructions accordingly in that case (Yang 2018).
However, it can be said that Abbott is a big brand in the pharmaceutical industry and
if the company follow the norms of the business in a proper manner the company will
be able to generate the growth in the long run of the business. Improvisation of the
new technology in the business will further help the business to prosper in the
pharmaceutical industry. In that case the company needs to analyze the current
requirement and then accordingly ascertain the opportunities in the market.
Effective marketing policy by further analyzing the SWOT analysis which is the
strength, weakness, opportunity and threat as per the current situation of the
business. The business must look for the current opportunities available in the
market and must grab the opportunities as per the requirement of the company. The
management or the upper level management of the company must be strong and
effective in order to achieve the main objectives of the business in the long run.
Forecast on the basis of the long run must be achieves by the business and the
preliminary objectives must be accomplished by the business. Effective management
decision of the company would automatically enhance the growth of the company.
This would attract the stakeholders of the company for making further investment in
the company which would help the company to achieve tremendous growth of share

20INTERNATIONAL MARKETING AND BRAND MANAGEMENT
of the company. This would also attract the potential shareholders which would
further increase the value of the company in the long run.

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Appendices
Segmentation, Positioning and Targeting

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Seven P’s in Marketing Mix

27INTERNATIONAL MARKETING AND BRAND MANAGEMENT
Budget