Marketing Report: Analysis of Glaxosmith Plc's Strategies and Models

This report provides a comprehensive analysis of Glaxosmith Plc's marketing strategies, focusing on the launch of new medical equipment in the Indian market. It examines the marketing mix, including product, price, place, and promotion, tailored to the Indian context. The report also delves into the customer-based brand equity model, utilizing Keller's model to understand brand identity, meaning, response, and resonance. Furthermore, it explores the application of integrated marketing communication (IMC), detailing the use of advertising, sales promotion, and personal selling. The report assesses the measurement of marketing success and suggests improvements for future strategies, providing a detailed overview of Glaxosmith's approach to entering and succeeding in the Indian pharmaceutical market.

INDIVIDUAL MANAGEMENT
REPORT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Marketing mix of Glaxosmith Plc...........................................................................................3
2. Customer based brand equity model.......................................................................................5
3.Concepts of marketing.............................................................................................................6
4. Assessment of the measurement of the marketing success and improvement in future. .......7
CONCLUSION................................................................................................................................8
REFERENCE...................................................................................................................................9
INTRODUCTION...........................................................................................................................1
REFERENCES................................................................................................................................2

INTRODUCTION
Marketing is a very important concept for every organisation and each requires different
set of tools and techniques for the purpose of increasing sales and revenue of the company. This
concept help the organisation when they are producing something new or doing modification in
the already existing products and services, such that people can be made aware of these products
by using different tools of marketing. Company which will undertaken in this report is
Glaxosmith which deals in pharmaceutical industry and if bringing new product and services into
the new market. This report will explain the marketing mix and customer based brand equity
model. It will also concentrate on applying different concepts of integrated marketing
communication and last part will critically analyse the future success of the business.
MAIN BODY
1. Marketing mix of Glaxosmith Plc.
As the organisation is concerned with the pharmaceutical business, and the company is
planning to launch a new product in the new market that is India because the pharmaceutical
business is growing at a rapid rate in India. The product which will be launched by the company
is several equipments which are used by the hospitals like blood pressure check machine,
diabetes check machine, pulse rate check machines, through which the organisation can check
the patients health condition within a seconds and these innovative products will be very helpful
for the organisations.
Product adaptation is the process of modifying and altering the features and
characteristics of the products in order to influence them to reach to the customers. This involves
manufacturing a new product as per the needs and requirements of the customers which enhances
the customisation. Where as product standardisation is referred to the process of maintaining
uniformity of different products and services sold in different markets. This is highly applicable
to the marketing mix of product, price, place, promotion because complete standardisation will
enable the company to design the product which is identical in each and every relevant way for
the appropriate location in which the product will be sold.
Marketing mix
Marketing mix is the set of strategies which are used by the organisation for the purpose
of promoting the new products in the new market. This will help the Glaxosmith Plc in

identifying and analysing that the correct products are put at the rights place and at the right time.
It is one of the very crucial instrument which constitutes the different elements of marketing. For
the chosen country that is India, the marketing elements will need to be adopted as per the
requirements of the country by identifying what makes customers to buy the products. The
following is the marketing mix of Glaxosmith Plc of new product that is Blood pressure
machine:
 Product: It is the physical product for which customer spent a relevant amount of money
in order to attain business goals and objectives (Wilson and. et. al., 2016). This aspect
contains the products quality, durability, accuracy, performance, attributes, etc. This
product is developed in order to satisfy the needs and requirements of the customers.
Furthermore, each product has certain life cycle which starts from the introduction stage
and vanishes or becomes obsolete after maturity stage and reaches to the decline stage.
Therefore, the product which is going to launch by the Glaxosmith is new blood pressure
machine which is higher in demand in the hospital and clinics through which the
customer will not feel pressure in their hands and it can be checked easily. This product is
simple to use, durable, develops accurate and relevant results, etc.
 Price: It is the economic factor in which the price of the product is determined. It is one
of the main factor because customers of India are highly price conscious and before
purchasing any product they do proper market analyses and compared the prices with the
competitors (Vargo and Lusch, 2014). Therefore, it is an important aspect in describing
the organisations profitability and survival. So, Glaxosmith will use different pricing
strategies in order to improve sale in the Indian market like they will use competitors
pricing strategies in which the prices of the blood pressure machine and pulse rate
machines will be kept lower compared to the competitors. Therefore, the price of the
product will start from Rs. 2500 and onwards.
 Place: It is the physical location from where the final sale will take place. The place is
very important to decide because product cannot be sold to customer from the
manufacturing unit (Papadopoulos and Heslop, 2014). It needs to be transported from
place of production to the place where customers can purchase it. Therefore, Glaxosmith
will use offline and online channel in order to provide the product to the customers. In
offline mode, the company will adopt the store or shop in a location where people can

easily identify and reach and in online store the organisation will sale the product with
the help of different e commerce applications.
 Promotion: This is another important element through which the product will actually be
communicated with the target audiences. With the help of different promotional tools the
Glaxosmith will be able to effectively communicate and convey people regarding the new
products and services which are launched by them in the Indian market. The company
will require heavy investment in promotional tools because its very difficult to target the
Indian customers and encouraging them to shift to the other brands (Mullin, Hardy and
Sutton, 2014). The company will use advertisements in newspapers, radio, television,
digital hoardings, discounts, warranty, life time replacement option, social media
platform, poster in medical conferences, etc.
2. Customer based brand equity model.
It is very important to develop the set of customers and encouraging them towards the
offering of the products and services of the Glaxosmith. For this, the customer based brand
equity model can be used which will help in depicting customer attitude towards the brand and
works effectively on building the foundation which will provide favourable attitude towards the
brand (McDonald and Wilson, 2016). This can further be understood with the help of Keller's
model.
Keller model of brand equity
The model of brand equity is developed by Kelvin Lane Keller and is based on the
intention that power of the brands success is entirely lies with the customers. This model is
developed in a pyramid shape with four different stages and middle two stages are further
divided into two different parts (Lusch and Vargo, 2014). The following is the detailed
description of the model which the Glaxosmith will use:
Brand identity: The first and foremost step is regarding the identity of the brand. In this,
the Glaxosmith will look into their products and offerings compared to their competitors. This is
the manner in which the customer will perceive the brand. This step is very useful for the
organisation because it is developed when the customer is totally unaware of the products and
services of the brand. Under this, the Glaxosmith will invest heavy amount of money in
advertisements so that they can create brand awareness. They will also provide demonstrations of

the products in events and public places. Furthermore, they will visit different clinics and
hospitals in order to make doctors aware about the product (Lovelock and Patterson, 2015).
Brand meaning: Under this, when the customer is aware about the brand then they will
show an interest in learning more about the brand and its products. In this customer will need to
know the reliability, durability and performance of the brand. They will also explain the concern
about the customer service and other related information (Kotler and. et. al., 2018). This aspect is
further divided into two parts:
 Brand performance: The customer is very much concerned about the performance of
the brand. For this, the Glaxosmith will provide proper information to the customer
regarding the features of the products like the product is easy to carry, simple to use,
provides authentic results, etc. The company will also insure its reliability, customer
services which is very simple and available at the door of the customers, style and design
as the product will be small, looks like a toy, etc. And lastly the price will also be
determined under this by taking into consideration the prices of competitors (Kotler and.
et. al., 2017).
 Brand imagery: Under this step, the organisation provides answers to the different
questions to themselves from the customer point of view. Like what is the perception of
customers regarding the brand, how they think the brand is, etc. and this helps the
Glaxosmith in further modifying the feature and other important aspects of the products
(Kotler and. et. al., 2015).
Brand response: When the customer purchases the products and services of the brand,
then they generate certain kind of expectations towards the brands and its products. When brand
and its products is same which has been communicated to the customer then this creates a
favourable feeling in the mind of the customers and if the products provides more satisfying
results compared to the expectation of the customer then makes them more happy and developed
positive word of mouth. It will be advantageous for the company improving sales and
profitability. But if Glaxosmith fails to meet up the expectations of the customers then the brand
can be vanished from the market very soon because of low sales and poor profitability (Kerin
and Hartley, 2015).
Brand resonance: This is the level in which the brand has reached at the higher level in
pyramid model of Keller. There are very few brands which have accomplished this level and it

needs large number of social and physiological connections. Thus, Glaxosmith can reach at this
step be considering the different factors like behaviour of the customers towards the brand,
values and attitudes, connections, feelings, involvement of customers (Haider and. et. al., 2019).
3.Concepts of marketing.
Integrated marketing communication is one of the most important concept which is used
by the organisations. This provides an assurance that all forms of marketing communication are
interlinked with one another. Therefore, by using the concept of IMC, it includes coordination of
various different elements of promotional tools through which customer can be aware of the
Glaxosmith products and services (De Mooij, 2019). The following are the different elements of
IMC which will be used by the Glaxosmith:
Advertising: The paid form of making non personal communication about an
organisation with the help of an identified sponsor is known as advertising. This is one of the
best way through which customers can be tapped in mass by the Glaxosmith (De Mooij, 2018).
Advantages Disadvantages
This an easy way to create a value proposition
and also helps the customers in knowing the
difference between the brand and competitors
brands.
Promoting product through advertising is a
very costly affair and it also takes time to
produce the advertisements. Furthermore, the
results cannot be expected in advance.
Sales promotion: This is the another important element of IMC where the organisation
produces different types of promotional strategies in order to produce sales. It involves different
types of offers, discounts, gifts, etc. which will encourage customer of Glaxosmith to purchase
the products (Blythe and Martin, 2019).
Advantages Disadvantages
It will increase the sales rapidly and also
encourages new customers in order to generate
the revenue.
The profits which will be generated will be
shot term and it can also leads to setting
unexpected expectations of customers.

Personal selling: Under this, the seller of the Glaxosmith will put efforts in order to
inspire and encourage customers to purchase the products of the company. It involved direct and
personal interaction between the buyer and seller (Baker, 2016).
Advantages Disadvantages
Due to personal contact, the customer gets
more information regarding the brand and their
queries can also be resolved at the same time.
It is expensive in nature and is confined to the
limited section of society where the large
number of people cannot be tapped.
4. Assessment of the measurement of the marketing success and improvement in future.
Measurement is very important because it is the important element which leads the
company towards the success. The success of the new product that is blood pressure machine in
new market that is India will be measured by adopting KPI. Under this, the Glaxosmith will use
different measuring techniques like marketing contribution to revenue, pipeline growth and
acceleration, conversion rates, cost per lead, and brand awareness among the customers. Once
the company is able to use these measurement techniques then they will going to describe the
benchmark for the success and improvement of the different areas. Furthermore, the company
will regularly review and assess that the activities and working in the company is going as per
the plans and if any deviation arises then quick action will be taken to eliminate the defect
(Baker, 2014).
 Sales target: This is the measuring tool of success for the organisation. It helps in setting
goals for the sales person or department through which the measurement is done by
evaluating the revenue and sale of units during the particular period of time. In present
business world, the organisation will use sales pipeline management through which the
sales can be easily tracked and hence will determine the success for the company.
 Market share: It is treated as an organisation total percentage of total sales. This is
measured by considering the sale of Glaxosmith product over the total sale of the industry
during a specific time period. Thus, this will show performance of the organisation in
comparison to its competitors (Atwal and Williams, 2017).
 Return on investment: This tool is very helpful in measuring the profit and loss for the
company which is generated by investing relevant amount of money. It is good and

effective of it has a higher level of flexibility. It will used by Glaxosmith as profitable
ratio where it will measure the amount of return by calculating the profits from an
investment and dividing it by the cost of investment done by the company (Armstrong
and. et. al., 2018).
Furthermore, it can improve these techniques in future by adopting more measurement
techniques which helps in knowing not only quantitative aspects of the products but also the
qualitative aspect which will help in knowing the changing needs and requirements of the
customers. Furthermore, the organisation must keep posted the new products it will be launching
and by asking the customer to give review and rating on their official website which will further
generate the sale and success for the company (Armstrong and. et. al., 2014).
CONCLUSION
From this presentation, it has been summarised that launching new product in a new
market is not an easy task. It requires lot of work and research. The organisation is needed to
work closely in knowing the buying behaviour and attitudes of customers of the country. They
require heavy investment in developing the product and encourage customers with the help of
different IMC tools to boost sales.

REFERENCE
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