Marketing Planning of Gsk Company
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Added on 2020-02-03
Marketing Planning of Gsk Company
Added on 2020-02-03
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MARKETINGPLANNINGOF GSK COMPANY
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3A Review and evaluate the marketing planning ability of a company........................................3B Organisational and external analysis impact the marketing plan of a firm..............................5TASK2.............................................................................................................................................7A Examine the main barriers and ways to overcome this to the market planning ......................7TASK 3............................................................................................................................................9A. Market plan for launching a new product ..............................................................................9B Importance of marketing plan in strategic planning process..................................................10C. Methods and justification for developing a new product......................................................11D Factors affects while implementing market plan...................................................................12TASK 4..........................................................................................................................................13A. Explain and analyse ethical issues in market planning.........................................................13B. Analysing consumer ethics effect on marketing plan...........................................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONMarketing planning is a document that include a marketing strategy such as marketingmix, market segmentation which helps a businessmen to satisfy customer needs and achievemarketing objectives. It is a dynamic process as it change according to change in other factor thatimpact business. GlaxSmithKline(GSK) it is a pharmaceutical and healthcare company , it is oneof the world's research based companies and it is oldest company in pharmaceutical industry. It isfounded in 1924 and it offers various product such as medicines and vaccines. In research reportwe study how changes in the environment are internal and external factors impact marketingplanning of GSK company. Along with this understanding the main barrier to marketingplanning and how various ethical issues affect marketing plan.TASK 1A Review and evaluate the marketing planning ability of a companyChanging perspective in marketing planning helps in attaining organisational goals andobjectives and it also impact on GSK company that are discussed below:-The production concept – This mainly focus on production capacity of product that areavailable to customers. It concentrate on cost, high production efficiency and intensivedistribution of products. In addition to this, consumer wants those product whose price islow so,the GSK company make market plan in that they offer affordable price and bestquality on flu vaccine to its customers. Firm also make use of aluminium foil or PVC forpackaging its products ,put detailed information about company's product,carrymanufacturing and expiry date. In regard to this the firm conduct proper test beforeoffering product in a marketplace and keep them under a high temperature and humidityto protect firm's product ( Ahmed,Rafiq,andSaad,2013). The product concept- This concept is mainly focus on high quality and innovativeproducts to achieve its goals and objectives. Consumer needs healthy,drug free,highlyeffective quality products so, in regard to this the marketing manager focus on and makemarketing plan according to consumer needs. For this reason, GSK company provide thatFlue vaccine in a target market to satisfy consumer needs and wants. These are highlyeffective and have a ability to cure disease and impact on patients over some period.They have to offer products in various forms such as syrups, medicine , capsules , injects
which gives a variety of choice to patients for selecting according to their suitability.( Andersen,2011)The selling concept – In this concept a firm choose a best promotion tools for selling itsproduct in the potential target market which highly impact on a business of GSKcompany. They provide their useful message to its patients through seminars, clinicaltrials, advertisements that directly impact on firm's sales and generating revenue.The marketing concept – This is a very important concept to achieve organisational goalsand objectives in an organisation. GSK company have to make plan in which they putmore efforts before selling products in an marketplace. In regard to this they provideeffective message to the target customers through advertisement in social media andtelevision. Company deliver its up – to -date information about medicines which enhanceknowledge and aware its patients about their new treatments which directly affect in thefirm's sales.Each and every firm try to achieve its goals and objectives through various marketingactivities which is highly depends upon the firm's ability to make marketing plan. GSK companymake a marketing plan for the flu vaccine in order to retain more customer from target marketthrough marketing activities. Here there is a analyses and evaluation of GSK company 's abilityof marketing activities of flue vaccine to old people which are discussed below:-Brand image – GSK company is a the top five largest pharmaceutical companies all overthe world as they spent huge amount of money on research and development. So, theability of a GSK company in selling its new product is flue vaccine to a target market isnot higher to explore new markets( Belobaba,Odoni and Barnhart,2009).1.Uniqueness in the product – GSK company put lot of efforts to develop a unique design,maintain high quality, unique design in packaging and also provide wide range ofmedicine in a flue vaccine. This can be possible by market research and collectinformation about old people's needs and preferences from different age groups ofpeople. They also offer new product in various form are syrups, injections, tablets such aslow and high MG tablets (SWOT Analysis.2014 ).
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