Other than this, it also helps in identifying the defects, deficiencies as well as the problems present within the marketing activities of the organization so that it might be easily reduced. Thus, marketing audit helps in analyzing three areas such as external and internal marketing environment as well as current marketing strategies. External marketing audit The pharmacy market of UK by PESTEL In this age of globalization and industrialization, advancement is witnessed in each and every segment. Similarly, the organizations operating under the umbrella of pharmacy market also amplified its market share and growth rate with a rapid pace as compared to any other organizations. Due to which, its annual growth rate (CAGR) enhanced by 15.7% as well as profit margin increased by 21.6 % in the year 2012- 2013. This proved extremely beneficial for the economy of UK thereby rebounding itself from global economic downturn. It became possible due to the huge contribution of the Pharmacy companies towards the gross domestic product (GDP) and gross national product (GNP) of the economy. Other than this, due to the improvement of the per-capital income of the individual of United Kingdom, the purchasing power of the customers also increased. This proved extremely effective for the Pharmacy organizations thereby amplifying its profit margin and productivity to a certain extent as compared to others. Moreover, the implementation of the varied policies of the government in order to make the requirements of healthcare more affordable and accessible, also acted as a boon for the pharmaceutical organizations. Due to which the net income and revenues of the organizations operating under...
This paper stresses that the products of Bursti in the competitive market of UK, it’s extremely essential to follow competitive pricing strategy. This is because; without following such strategy, Bursti might not be able to establish the brand image and dependency within the minds of the customers. As a result, the profit margin and total sale of the products of the brand might not get enhanced that might hinder the goodwill of the organization. Other than this, Bursti might try to offer high attention over advertising so as to increase the level of awareness of the customers. This might prove effective for the organization in enhancing its market share and status
This report makes a conclusion that the pattern of disorders is also changing rapidly and so at times the medical practitioners fail to analyse the main cause of the disorder. This means, the disorder might be due to genetics, diet, climate or many other factors. So, the organization of Bursti might also try to develop the medicines that might also rectify the disorders arising due to genetics or even diets. Only then it might cope-up with such type of challenges in an effective way thereby amplifying its productivity and brand value. The author of the paper talks that the policies and strategies of the government supporting Pharmacy industries are changing rapidly. Therefore, the organization of Bursti needs to offer the products and its features in such a way so that, it might remain sustained in its position.