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Marketing strategy - Essay Example
Author : kundemurphy
Pages 12 (3012 words)
Marketing Strategy of GlaxoSmithKline Table of Contents Table of Contents 2 Executive Summary 3 Introduction 3 Background of GlaxoSmithKline Plc 5 Marketing environment 5 PEST analysis 6 Porter’s Five Forces Model 8 Marketing Strategy 10 Market Segmentation 10 Targeting and Positioning 12 Marketing Mix 14 Evaluation of GlaxoSmithKline’s Strategy and Tactics 15 Recommendations for the Future Development 15 Conclusion 16 References 17 Executive Summary The pharmaceutical industry is one of the most profitable sectors of the world…
The pharmaceutical industry is highly concentrated and only a few companies are doing well in the industry. The main aim of this study is to analyze the marketing strategies adopted by GlaxoSmithKline Plc; a London based pharmaceutical company (Chaffey et al., 2008). The study would also analyze the factors affecting the marketing strategies implemented by GlaxoSmithKline Plc. Since, the company is a UK based company it would also analyze its strategic position in UK as well as in other countries. An analysis of the marketing mix of the company would help in highlighting the key elements of the marketing strategies adopted by the company (Zhou et al., 2010). Introduction Medicines form an integral part of a human’s life because the discovery and invention of medicines have improved the health and quality of life of human beings. The consumption of drugs has increased rapidly. Every year, around 650 million prescriptions are written by the General practitioners alone in UK (House of Commons, 2005). The National Health Service, UK sells medicines worth ?7 billion annually and 80 percent of which is spent on branded products. ...