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The Impact of Entrepreneurship on Society

   

Added on  2020-03-23

16 Pages3624 Words95 Views
Business DevelopmentCalculus and AnalysisPolitical Science
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MARKETING STRATEGIES1MARKETING STRATEGIESBy [Student’s name]Professor’s nameCourse CodeUniversityDate of submission
The Impact of Entrepreneurship on Society_1

MARKETING STRATEGIES2Table of ContentsIntroduction......................................................................................................................................3Marketing Strategies of CSL...........................................................................................................3Product strategies.........................................................................................................................4The product should consist of strong clinical data...................................................................5It should have a validated target...............................................................................................5It must possess well-featured properties..................................................................................5Pricing Strategies.........................................................................................................................5Premium Pricing.......................................................................................................................6Economy Pricing......................................................................................................................6Price skimming.........................................................................................................................7Place.............................................................................................................................................7Promotion.....................................................................................................................................7Sustainability Practices implemented by CSL.................................................................................7The company is socially responsible...........................................................................................8CSL is economically viable.........................................................................................................8Compatibility with the environment............................................................................................8CSL SWOT analysis........................................................................................................................9Strengths.......................................................................................................................................9Weaknesses..................................................................................................................................9Opportunities................................................................................................................................9Threats..........................................................................................................................................9Conclusion.......................................................................................................................................9Appendices....................................................................................................................................11Appendix 1.................................................................................................................................11
The Impact of Entrepreneurship on Society_2

MARKETING STRATEGIES3Appendix 2.................................................................................................................................12References......................................................................................................................................13
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MARKETING STRATEGIES4IntroductionThe Commonwealth Serum Laboratories (CSL) started operations in 1963. TheCompany majorly deals in carrying out of intensive research and manufacturing of vaccines andgeneral set of equipment used in medical laboratories. CSL Limited has played a vital role incountering the spread of various infections in Australia and the world as a whole through theproduction of vaccines. CSL is one of the leading industries in the biotechnology sector. It iscredited with developing vaccines against tetanus, whooping cough diphtheria, and diabetesamong other infections. As a growth strategy, CSL has rapidly involved itself of the Swissplasma company ZLB Bioplasma in 2004 and Aventis Behring of Germany that manufacturesmedical apparatus. The acquisitions and takeovers have enabled CSL to have a strong grip in thebiotechnology sector leading to the Company being one of the entities in the production ofinfluenza vaccine in the world. CSL needs to keep in touch with the latest marketing strategiesfor them to remain a float in the ever-changing technological environment.This paper will discuss the various strategies employed by CSL Company in themarketing of their products and services to the final consumers. It will also focus on howeffective the marketing approaches are in comparison to those used by their competitors. CSLcan only remain to be a market leader in the provision of medical equipment and vaccines if itfollows recommendations of the marketing and research teams. The two must work hand in handto ensure the production and supply chain is not affected.Marketing Strategies of CSLIt is imperative to note that for any company to be successful, it needs to ensure that itcarries out extensive marketing. The first step is to carry out a market research to know whatkind of products they need to produce to fulfill consumer needs. CSL limited, therefore, shouldensure that it facilitates and adequately equip the research and development section of thecompany with adequate resources for them to carry out quality research (Boumans and Davis,2010, pp. 129-133). The research should establish the market trends and ways in which thecompany can improve quality of their products so as outdo their competitors in the market. Thetop-level management should use this information for them to come up with the relevant market
The Impact of Entrepreneurship on Society_4

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