Marketing Plan of GlaxoSmithKline : Report
14 Pages3772 Words710 Views
Added on 2020-01-16
Marketing Plan of GlaxoSmithKline : Report
Added on 2020-01-16
ShareRelated Documents
MARKETING PLANNING1
TABLE OF CONTENTSINTRODUCTION ...............................................................................................................................5TASK 1.................................................................................................................................................5A Review changing perspective in marketing planning and evaluate GSK's ability for planning its future marketing activity.............................................................................................................5B Organisational auditing and analysing external factors that affect marketing planning and implementation of one technique to carry out organisational auditing............................................7TASK 2.................................................................................................................................................8Assessment of the main barriers to marketing planning and examine how GSK may overcome these barriers....................................................................................................................................8TASK 3.................................................................................................................................................9A Marketing plan for the launch of a new product for GSK...........................................................9B Strategic planning process..........................................................................................................10C Techniques for new product development and recommendation for pricing policy, distribution and communication mix.................................................................................................................11D Factors affect implementation of plan........................................................................................11TASK 4...............................................................................................................................................12A Ethical issue affecting marketing planning and analysis example of GSK responds to ethical issues..............................................................................................................................................12B Consumer ethics and their effect on marketing planning-.........................................................12CONCLUSION..................................................................................................................................13REFERENCES...................................................................................................................................142
INTRODUCTION For every business organisation, marketing plays a crucial role through which firm can ableto introduce its product and services in the market and earn probability by increase sales. Thementioned aspect helps in promoting and selling product and services, including market researchand advertising. In this aspect, various kinds of activities and action are included such as promotion,advertisement, distribution selling, purchasing, public relation etc. The following project report hasprovided in-depth knowledge about marketing planning. It is a systematic process under which themarketer identifies actual needs of customer and develops strategy to fulfil their needs. It includesanalysis of current market situation, detailed action programs, budget, sales forecasts, strategies etc.In this report, a systematic marketing plan has been developed for introducing new product Fluvaccine for old people with respect of GlaxoSmithKline organisation in UK. It is a BritishPharmaceutical company in London and this organisation is listed on the London stock Exchangeand is a constituent of FTSE 100 index. In addition to this, various marketing techniques for newproduct development and analysis of external factors that affect the marketing planning have alsobeen discussed in this report. Furthermore, diverse range of barriers and strategies to overcome thatbarrier has been also studied with respect to the cited venture. TASK 1A Review changing perspective in marketing planning and evaluate GSK's ability for planning its future marketing activityAs per the given scenario, GlaxoSmithKline (GSK) is a healthcare organisation which isengaged in creation and discovery, development, manufacture and marketing of pharmaceuticalproducts including vaccines, over the counter medicines and health related consumer products. Thecompany’s major objective is to deliver high quality medical product to customer and earnmaximum market share as well as profitability (Achrol and Kotler, 2014) For this purpose, citedventure is going to develop marketing plan for a new flu vaccine for old people. In this manner,corporation is required to make use of various perspectives. These marketing perspectives are asfollows-Market analysis- It is one of the most essential technique in marketing planning under whichGlaxoSmithKline organisation need to conduct market analysis before developing strategyand planning. In this stage, corporation seeks to identify current marketing environment andavailable competitors. With the help of PESTEL and SWOT, corporation can easily analyseinternal and external condition of the business. Furthermore, business enterprise can also3
determine actual needs and wants of the customer regarding medical product like vaccine.Developing marketing strategy- Once GSK identifies and analyse the internal and externalenvironment of business and customer requirement regarding pharmaceutical product thenin next stage the cited venture can develop an effective marketing strategy. The majorobjective of this marketing strategy is to develop competitive position in the market andacquire large number of customer as compare to available customers.Formation of marketing mix- It is a crucial stage in marketing planning under which thecorporation sets its marketing mix such as product, price, place, and promotion. With thehelp of this aspect, company can deliver desired product and services to customer in themarket. GSK is going to develop new flu vaccine product for old people in UK so that byusing appropriate marketing mix it can effectively introduce its new product in the market.Identification of target market- It is essential to determine target market so that theorganization can fulfil requirement of customers. In this stage, GSK can select one specificsegment and according to their customer demand, product will be delivered (Athey,Suckling and Rogers, 2012). GSK can identify target market on the basis of geographical,demographical and behavioural.GlaxoSmithKline is a British pharmaceutical company which was established in 2000 inBrentford. It is the world sixth largest Pharmaceutical Corporation. It has three world leadingbusinesses which research, develop and manufacture innovative pharmaceutical medicines,vaccines and consumer health products. It main mission is to help people do more, feel better andlive longer. It has committed to widening access to its product, so more people can benefit, Nomatter where they live in the world or what they can afford to pay. By delivering a sustainablebusiness in the world, it render health benefits to service users and consumers and also improvedshareholder returns as well as supporting wider society (Berthon, Pitt and Shapiro, 2012).GlaxoSmithKline has founded as the result of a merger between two large companies that isGlaxowellcome and SmithKlineBeecham. It has sales of £22.7bn and it has also 110,000 employeeswhich gives their best contribution in order to attain company objective. Company have high andstrong financial condition so as it assist in developing quality product. Cited venture operates inmany countries of the world like Brentford, England etc. The major strength of cited venture is that it is leading research based pharmaceutical andHealthcare Corporation which has been committed to improve quality of human life by enablingpeople to do more, feel better and live longer. It has excellent brand, excellent turnover and leadstop world products. This strength assists the company in developing effective marketing plan andactivities. Company have strong capability because it most sold products are based on nervous4
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Marketing Planning Assignment - GSK companylg...
|10
|3607
|101
Marketing Planning of Gsk Companylg...
|17
|5382
|365
Marketing Planning - Pharmaceutical Company - GSKlg...
|17
|5850
|163
MARKETING PLANNING TABLE OF CONTENTS INTRODUCTION 3 SUMMARY OF GSK3lg...
|14
|3992
|98
Types of Organisations Operating in a Business Environmentlg...
|9
|2050
|89
Report on Types of Organizations Operating in a Businesslg...
|12
|3125
|84