Marketing Plan Boots Company Report
11 Pages3285 Words246 Views
Added on 2020-04-21
Marketing Plan Boots Company Report
Added on 2020-04-21
ShareRelated Documents
Running head:MARKETING PLAN1Marketing plan Boots Company Sri LankaNameInstitution Affiliation
MARKETING PLAN2Overview Company overviewBoot Company is a pharmacy chain the United Kingdom, Ireland, Norway, Thailand as well as other territories. The parent Company, The Boots Company Plc, merged with the Alliance UniChem in 2006 to form the Alliance Boots. In the year 2007, the Alliance Boots was bought by the Kohiberg Kravis Roberts and Stefano Pessina who took the company to Private, and they were able to move the headquarters to Switzerland (McDonald & Wilson, 2016). The company operates over two thousand five hundred stores all across the United Kingdom as well as Ireland which ranges from the local pharmacies to the large health and the beauty stores. The stores of the company are primarily located on the high streets and at the shopping centers. They sells many heath and the beauty products, and they also offers optician and hearing care services within their stores as the standalone practices (Asseraf, Luis & Shoham, 2017).. Boots was founded in 1849, by an individual known as John Boot. In 1920, the company was sold to Jesse Boot who was the American united Drug organization, but because of the economiccircumstances in the company it was sold back to the British hands in 1933. The grandson of the founder of John Boot who inherited the name Baron Trent from his father headed the organization. The CEO of Boots organization is Elizabeth Fagan for the UK operation. She is responsible for the development of the organization pharmacy led health and the beauty retail business outside UK as well as the Republic of Ireland, Asia and Europe (McDonald & Wilson, 2016) . The company has employed more than twelve thousand employees and they are operating more than 4600 retail stores and in this number over 4,450 have the pharmacies.Vision To be the first choice for the pharmacy, health as well as beauty caring for individuals, customers along with the communities everywhere. MissionThe passion mission of Boot Company is to provide an upscale choice of the pharmacy, health and beauty care to people, clients and the communities that are across the globe. The company exists so as to attract and maintain the customers. The services provided exceed the expectations of the customers.GoalsThe goal of Boots Company are as follows;To be the center for the health and the beauty customers.To secure the market leadership in the Sri Lanka.To build on their brands.
MARKETING PLAN3Leading the development of products that are sustainable.Objectives The following are the objective of the Boots Company;To increase the repeat customers by 7% per quarter.To decrease on the acquisition cost of the customers by 8% per yearTo build an efficient pull campaign, bringing in new clients at the increased rate of 10% per quarter. Boots Company intends to deliver a new wave of reformulation within the business in thenext three months.The organization intends to funds programs which are aimed to tackle real public health issues such as influence health policy more positively.Market trend in Sri Lanka The current trend in Sri Lanka is that they intends to develop the pharma industry and enable various organization to penetrate to the global market since the internal market in the country is not sufficient for a big organization to operate at the optimum levels (Piercy & Evans, 2014). This will offer Boot Company a market share since the sector has not been utilized fully by the local companies. Why Boots Company should be launched in Sri Lanka.In Sri Lanka there is a favorable environment for the Boots Company to set up their outlet. According to the data from the central bank of Sri Lanka, there has been a stable financial systemin the country which has provided a favorable environment to the depositors and the investors, which has encouraged many financial institutions as well as the markets to enable them to function more effectively as well as efficiently. This will help the country to promote investment and the economic growth.The data from the central bank shows that the banking sector in Sri Lanka that comprise LCBs and LSBs, have dominated the financial system which have played a liquidity to the entire economy. Boots organization will have an access to the liquidity, which will be useful to them tosetup the enterprise in the country as well as get payments to the various services, hence facilitate all entities to carry out their financial transactions. In Sri Lanka economy it has expanded to the average rate of 6% over the past five years. There has been notable economic transition and economic transformation from the political reconciliation and the economic transformation that has helped in the strengthening of the long term development and competitiveness. With the economic transition, Boot Company could gained a significant market share when it has been established. The country do not have properlydeveloped pharmaceutical store outlets and this will enable them gain the market share since the sector has not been fully exploited.
MARKETING PLAN4PESTEL analysis for Sri Lanka Political The changes in the government rules and the regulation in Sri Lanka will affect the management of the activities of Boots Company.In Sri Lanka there might be trade barriers and this would make it difficult for the organization to bring in the raw materials and products from the other countries.Sometime there are politically motivated strikes as well as the labor strike in Sri Lanka which might affect the performance of Boots in Sri Lanka (Jain & Haley, 2009).The government has made changes in the tax policies, labor law policy and trade restrictions. There has been streamline in the business startup process in Sri Lanka and there has been a number of the licensing requirements which have been reduced. EconomicIf there will be economic strength which will be poor in Sri Lanka it will affect greatly the Boot organization in regards to its growth.In the event that the Sri Lanka economy was to suffer from the Inflation or perhaps recession then it would adversely affect Boot organization (Jain & Haley, 2009).Sri Lanka labor market lacks efficiency, which has resulted for the imbalance between the labour supply demand. In 2016, the IMF recommended that Sri Lanka government to phase out some of their extensive system of the control of prices and subsidies which distorted various sectors in the economy. With this implementation of these changes it will be easier for Boots Company to be established in Sri Lanka economy. Social Individuals are becoming more informed. There increased in the aging population provides range and threats to the pharmaceutical industry (Meidan, Moutinho & Chan, 2015).TechnologicalThere is social media for the Healthcare.Boots organization might be able to advantage for the internet through providing online services.EnvironmentalThe organization will need to take care of the issue of pollution which might be created from the product or the service produced by the company.Boots need to see how their business and the marketing plans link in with the environmental aspects (Piercy & Evans, 2014).It need to be mandatory to reduce the carbon footprint as well as increase the energy efficiency.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Managing Information and Technology in Boots UK Ltd.lg...
|12
|3653
|83
Managing Information and Technologylg...
|11
|3844
|53
Boots Organization: Porter's 5 Forces Analysis and Value Chainlg...
|13
|3949
|30
Management Analysis of Boots UK: Strengths, Weaknesses, Challenges, and Strategieslg...
|15
|3508
|132
(PDF) Corporate benefits of CSR activitieslg...
|6
|1332
|68
Digital Marketing Strategies for Boots Companylg...
|9
|1460
|36