Marketing Essentials Assignment : AstraZeneca

Added on - 15 Mar 2021

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Marketing Essentials
IntroductionIn an Organisation, marketing department is one of the most important departmentssince it deals with the consumers or buyers and they are the significant stakeholders ofany Organisation. After all, if there was no consumer, the business would not evenexist. For this report, AstraZeneca was chosen for assessing different marketingfunctions, the way they unite with others to create a sustainable marketing strategy willbe covered. Short review of current marketing trends, concepts, key marketingfunctions, and significance of these marketing functions, their roles and responsibilitieswithin AstraZeneca will be discussed. Moreover, how these marketing functionsinterconnect with other Organisational functions within AstraZeneca will also beanalysed.Company OverviewAstraZeneca plc. Is British- Swedish intercontinental pharmaceutical andBiopharmaceutical Company? Its head office is in Cambridge, England. AstraZenecahas a collection of products for crucial illness areas containing cancer, cardiovascular,gastrointestinal, infection, neuroscience, respiratory and inflammation. AstraZeneca AB,the Swedish branch of the company, is a subordinate of AstraZeneca plc. The companywas established in 1999 through the coalition of the Swedish Astra AB and the BritishZeneca Group.
Section 1: Describing marketing and its connection with otherfunctionsBrief overview on the market trend and concepts followed by AstraZeneca.Definition of Marketing: The procedure by which firms generate utility for consumer orbuyer and set up well built connection with buyers or consumers so that they can gainadvantage in exchange for their services or products (Kotler and Armstrong, 2013). Theactivities of marketing is all about building everlasting connections with consumers orbuyers and construct customer equity.According to a work done by Lin, Li, and Wang in 2017, the directions and trends areconstantly changing over the centuries and it will continue to change in the future. Themarket trends are now different than how it used to be. But the companies andOrganisation tends to adapt with this dynamic trends and directions. AstraZeneca isdoing this as well. As a trainee marketing officer, the marketing trends I noticed in thepharmaceutical field and AstraZeneca’s followed concepts to respond to these trendsare:Achieving Scientific Leadership:In the pharmaceutical field, the companies areconstantly focusing their science for new kind of innovations and advance theirpipelines. AstraZeneca is also doing the same. They are concentrating on inventivescience on three therapy areas, a variety of drug modalities unfolding drug platformsand new automations. They are also reinforcing their ability to complement targetedmedication to patient those need them most.Return to Growth:Engaging with the stakeholders for the betterment of theOrganisation, authorizing unfolding markets to deliver better and wider access topatients with inventive and targeted impartial pricing plan and operations are importantin this field. AstraZeneca is doing these things together with association with industry,government and academia to discover ways to bring new medications to market moreswiftly and systematically.
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