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Kent Pharmaceutical Ltd. Marketing Plan

   

Added on  2020-04-15

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Running head: MANAGEMENT AND OPERATION
Marketing Management
Name of the Student:
Name of the University:
Author’s Note:
Kent Pharmaceutical Ltd. Marketing Plan_1

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Executive Summary
This report deals with the different aspects of the marketing to reveal the current market position
of the Kent Pharmaceutical Ltd. However, the environmental analysis has been carried out for
this organization to identify the customer needs and position of the competitors. However,
Ranbaxy is a major competitor of Kent Pharmacy. However, it has been received that Kent
Pharmacy follows the premium price for the high-quality drug. On the other hand, people want a
high quality product at a reasonable rate. This data has been found through the market research.
Kent Pharmaceutical Ltd has their own distribution channel. They manufacture, distribute and
deliver the product across the British, Irish and International market. A proper market research
by using the marketing mix element is helpful for this organization to understand the needs of the
current market. However, UK is a country of aging people thus; middle aged to old aged people
are the main target of such organization.
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Table of Contents
Introduction......................................................................................................................................4
Part 1: Task 1...................................................................................................................................4
Internal and external audit information.......................................................................................4
External audit...............................................................................................................................4
Macro environment analysis........................................................................................................4
Microenvironment analysis.........................................................................................................7
Internal marketing........................................................................................................................9
Part 1: Task 2.................................................................................................................................13
Part 2..............................................................................................................................................19
Scoping Proposal.......................................................................................................................19
Conclusion.....................................................................................................................................25
References......................................................................................................................................26
Appendix 1.....................................................................................................................................30
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Introduction
Marketing management refers to the organizational discipline, which is associated with
the marketing orientation, methods, and techniques to meet the organizational goal. However,
marketing management employs techniques from competitive strategy and the economics to
understand the industry context in which the company is operating1. It is important for a business
to identify a potential market segment. After identifying the potential market segment, the
organization needs to select their target audience for their particular product or service.
Marketing of a firm includes market research to understand the current market demand as well as
current market trend. This study deals with the marketing management in the context of Kent
Pharmaceuticals, which is a leading pharmacy in UK. However, this organization provides
quality service to the primary and secondary care sectors2. They provide product as respiratory
medicine, anti-infective, and analgesic. Their business includes manufacturing, sourcing, and
distribution of the service for the care sectors.
Part 1: Task 1
Internal and external audit information
External audit
Macro environment analysis
Political factors
1 Pasquier, Martial, and Jean-Patrick Villeneuve. Marketing management and communications in the public sector.
Routledge, 2017.
2 Kentpharm.Co.Uk. (2017). "Kent Pharmaceutical Ltd." http://www.kentpharm.co.uk/about-us.html.
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UK is a constitutional monarchy and follows the rules and regulation of the parliamentary
system. However, the political environment of this country is stable and fair. This country
provides a plenty of opportunity to the business industries those are operating within this country
3. Hence, such stable political environment will give Kent pharmacy to operate their business in
this country with lots of opportunities. On the other hand, the government is stable in this
country. However, hidden corruption and Brexit affect the political stability of the UK, which
leaves a little negative effect on the business sectors.
Economic factor
UK has a strong economic position as it has high GDP and diverse economy4. This
country has taken 5th position in the world economy. Diversified economy of UK gives favorable
condition to the investors. Hence, for Kent Pharmaceutical Ltd. this strong economy of UK will
be good opportunity to invest more in the business. Due to the recession in the year 2008 slow
recovery in the business is a major drawback in the UK economy.
Socio-cultural factors
Free public service that is the health service is very common in UK. However, UK
government focuses on the health improvement of the people as it is considered as the country of
the aging people. Hence, this health service in UK will lead Kent pharmacy to expand their
3 Gummesson, Evert, and Evert Gummesson. "From relationship marketing to total relationship marketing and
beyond." Journal of services marketing 31, no. 1 (2017): 16-19.
4 Rinallo, Diego, Harald Bathelt, and Francesca Golfetto. "Economic geography and industrial marketing views on
trade shows: Collective marketing and knowledge circulation." Industrial Marketing Management 61 (2017): 93-
103.
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business in the UK market. On the other hand, the dependency ratio is high in UK that is a major
drawback of the social environment of the UK 5.
Legal factors
According to the UK labor law, the individuals have to work 48 hours in a week and 11
hours rest within 24 hours is compulsory6. However, racism, gender discrimination, and
inequality should be reduced from the workplace. Hence, it is crucial for Kent pharmacy to
maintain the legal norms of the UK government to operate in this country without any legal
issues.
Technological factor
UK is technologically advanced as this country is enriched with the expertise in IT and
science7. Hence, by utilizing the modern technology Kent Pharmaceutical will be able to improve
their service and operation process. Despite this, the technological growth of the country is slow
in comparison to U.S.
Ethics and the ecological environment
UK government plays an important in developing the standard of the UK environment.
Hence, it is important for the Kent Pharmacy to maintain the environmental norms while
operating in the UK. However, it is crucial for this organization to take CSR activities8. This
5 Charter, Martin, ed. Greener marketing: A responsible approach to business. Routledge, 2017
6 Pasquier, Martial, and Jean-Patrick Villeneuve. Marketing management and communications in the public sector.
Routledge, 2017.
7 Brito, Taissa Leao De, and Nicholas Harkiolakis. "Influence of UK economic and market policies on a small wine
merchant." International Journal of Teaching and Case Studies 8, no. 1 (2017): 29-45.
8 Cortes, Edy, and Thierry Adatte. "Nested packaging for pharmaceutical products, and methods of distributing
pharmaceutical products using same." U.S. Patent Application 15/439,821, filed February 22, 2017.
Kent Pharmaceutical Ltd. Marketing Plan_6

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organization has adopted CSR activities as the integral part of their business to protect the
environment.
Microenvironment analysis
Customer/Market
The customer is a big part of the of the market analysis. However, for the development a
great customer focus strategy it is important for the pharmacy to give proper effort and manage
the resources9. Patients are the main customer group of pharmaceutical industry. In the context of
Kent Pharmacy, middle-aged to old aged people are their main target customers. UK is a country
of the old population thus; middle aged to old aged people are the main focus of such company.
Competitors
Ranbaxy and Ratiopharm are the major competitors of Kent pharmacy. However, these
organizations also provide similar products in the UK market10
9 Lind, Johanna, Sofia Kälvemark Sporrong, Susanne Kaae, Jukka Rantanen, and Natalja Genina. "Social aspects of
additive manufacturing of pharmaceutical products." Expert opinion on drug delivery 14, no. 8 (2017): 927-936.
10 Kaplan, Warren, Nikolina Boskovic, Daniel Flanagan, Serafina Lalany, and Chia-Ying Lin. "Pharmaceutical
policy in countries with developing healthcare systems: synthesis of country case studies." In Pharmaceutical Policy
in Countries with Developing Healthcare Systems, pp. 405-430. Springer International Publishing, 2017.
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. However, the competitors of Kent Pharmacy have adopted modern technology to bring
improvement in their new products. Huge competition in the market leads the pharmaceutical
companies in UK towards the production of a high quality product with low price. However, the
competition level is high in the UK pharmacy industry hence; the competitors of Kent Pharmacy
try to cut the manufacturing cost to enhance the profitability. Thus, it is important for this
organization to reduce their operation cost to compete in the market.
Suppliers
Ambe Ltd, Bio Pathica Ltd, and Euro Medical supplies are the major suppliers of Kent
Pharmaceutical Ltd. in UK. Such suppliers provide raw materials to Kent to manufacture the
drug. API or active pharmaceutical ingredients are supplied by Ambe. On the other hand, such
suppliers provide both synthetic and natural materials. Bio-Pathica provides raw materials for the
manufacturing. API is the main components of the drug11
11 Agyemang, Elaine, Lorna Bailey, and John Talbot. "Additional Risk Minimisation Measures for Medicinal
Products in the European Union: A Review of the Implementation and Effectiveness of Measures in the United
Kingdom by One Marketing Authorisation Holder." Pharmaceutical Medicine 31, no. 2 (2017): 101-112.
Kent Pharmaceutical Ltd. Marketing Plan_8

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