Marketing Management: Wellcome Trust - Essay Example

? Management The discussion below is about one of the most prestigious and well organized United Kingdom charity organization known as Wellcome Trust. The charity organization is based in London where it was created in 1936. It is an organization for improving health of people and it does that through funding biomedical research of both clinical and public health. Wellcome trust also funds individuals carrying out technological research on the health challenges present in a setting they have chosen. The organization supports researchers from institutions and universities in UK and overseas who are conducting research on health and disease genetic variation by providing them with grants to facilitate their research. One of the objectives of the charity organization mentioned above is that it strives to nurture and improve creativity and innovation through backing up and supporting initiatives that are ambitious in order to come up with research of the highest quality. This will therefore ensure that only the best researchers in the field of biomedical research who have ambition to eliminate the challenges in their fields of practice are chosen by the organization. The final results of the organization after analysis of their products will be nothing but the very best. Wellcome Trust aims to explore medicine in not only a historical but also a cultural perspective. This therefore ensures that there will be no impartiality or discrimination of any sort as people aspiring to be researchers in any part of the world get funding to carry out the research. Wellcome Trusts aims to ensure that time and culture are not left aside or assumed where biomedical research is involved. The other aim of the charity organization is to accelerate application of research in biomedical field where the health of animals and human beings are the main concern. This therefore makes sure that no funds are spared when it comes to funding technological and biomedical researchers whose researchers aim to fulfil this objective. This also ensures that such researchers are outsourced from different parts of the world in order to fulfil the objective of the organization for the well-being of the society in future. Wellcome Trust charity organization has several marketing activities which it utilizes in order to ensure the achievement of the organization’s stated objectives. Some of these marketing activities include partnering with other biomedical research organizations situated in different geographical locations of the world as a way to accelerate research application in the health field for both animals and human beings. The other marketing activity is the launch of their website which has all information about the organization including their funding procedure, management and staff and even contacts both physical and virtual and other information about the organization. The organization also advertises and promotes itself and its products and services by use of news articles which contains up-to-date information about the activities and researches of the organization. It also prints information of the current research results in those news articles which are available also in their website. Another marketing activity utilized by Wellcome Trust organization is conducting seminars, having virtual forms to provide feedback or opinion about their services and even submitting any queries to seek clarification for those interested in the organization. This marketing activity enables them to improve their service delivery even more and to handle to have more transparency and accountability even in the research they are carrying out and especially the ethics of such researches. In order to achieve the above mentioned objective of the organization, the management of Wellcome Trust have developed and utilized various marketing strategies and plans. These plans have been put forward in order to ensure that the funding continues and lasts throughout the entire research duration and also to accommodate more and more upcoming ambitious and creative biomedical researchers in UK and globally. One of the marketing strategies used by Wellcome Trust charity organization is to ensure the organization has good and effective leadership which ensures and facilitate independence of the organization. This is important as it ensures flexibility of the organizations activities which are necessary for improvement of quality and service delivery aimed by the organization in the short and long term. Independence also ensures the decisions undertaken by the organization will not be up for questioning later on by external bodies or organizations which lead to delay in achieving the set goals and objectives of the organization. Independence of the organization also ensures that the researchers being funded by the organization have freedom to carry out their research without having the pressure from other external sources which are monitoring the organization. The researchers will therefore be able to work in a relaxed atmosphere and conditions which foster innovation and creativity hence excellent end term results are expected and obtained once the research is completed. In any marketing setting, freedom of the marketers to engage in diversification of what they know best is very important as working under duress and distress finally leads to poor results being obtained or challenges of employee misconduct and under productivity are experienced. The Wellcome Trust organization has therefore ensured that their researchers have freedom to engage in diverse areas of biomedical research which targets various audiences in the society with different cultural needs and from different generations. The other marketing strategy the organization has enforced is that it has identified the challenges present in the biomedical research of both animals and human beings and has tailored its activities towards curbing those challenges and also to prevent similar challenges from occurring in future. Some of the measures it has undertaken to deal with these challenges are working in partnership with the researchers and other organizations in order to find the cause (s) of the challenge and address it from that point hence ensuring that the problem has been tackled fully. The organization also has a record of long term tracking of the problem based on the large number of followers it has and this gives it a competitive edge over other organizations carrying out the same kind of work hence their research is always excellent as a result of that. The organization also has a large breadth of funding which ensures that when a challenge in the biomedical research field is discovered, it will be effectively dealt with as the resources required are catered for by the large amount of funding present within the organization. These resources include human resources and financial resources among others. Wellcome Trust organization follows the social marketing theory of marketing as it deals purely with the social influence the outcome of its researches will have to the people all over the world and especially in the fight against global diseases. In order to achieve this, it has integrated several elements of marketing mix necessary to ensure that their activities and end product results will reach the targeted clients hence achieving the objectives of the organization. The product of the researches carried out by the organization is an understanding of the genetic variations in health and diseases which are considered to be global. This has enhanced development of knowledge among various professionals including science teachers in schools and even doctors treating such diseases. As a result of this product from the organization, fight against such diseases has been intensified for cure and prevention purposes. The organization is based in UK but it funds researchers from all over the world. Even though the headquarters are in London where not everyone has access to the place, those are only offices which host management and where most of the organization’s logistics are coordinated from. Since researchers come from different locations in the world, most of the actual work of understanding the diseases is done in those countries where the researchers come from, and accessibility may be a problem. In order to deal with these and other problems arising from the element of “place,” Wellcome Trust has engaged in technological devices and ways to link all these researchers and their progress or final results for easy accessibility. The organization has internet website where such information can be accessed from and hence anyone can use the website to find the information required. This has ensured and is still ensuring that the research results are accessible by the entire targeted professional and other concerned individuals globally. Promotion of the services being offered by the organization like the funding is done through the internet and at times through other forms of print media (for individuals living in London). Promotions target majorly universities and other research institutions which have the ambitious and creative researchers with background knowledge on biomedical research. The also target them because they have other resources that can facilitate the research like laboratories and professionals with different knowledge required for the research all in one place hence time and more additional costs are saved. Promotion to such institutions is done mainly through formal requests by the institutions or a member of the organization contacts the institution with such information. The internet is however the best way to promote as accessibility and coverage is global. The people the organization targets are individuals from diverse cultural and historical backgrounds and contexts. This is evident from the global coverage by the organization. In as much as the organization is based in UK, it also funds individuals and institutions from overseas countries to enforce diversity in ideas and ensure the results of the researches are valid and can be generalized. Diversity is also in the targeted users of the results and that is why the results are available and accessible by all health professionals regardless of the location in the world. One of the strongest marketing activity the organization has implemented is the promotion of the organization’s work and activities through the internet and more so through their website. Their website has information on how to access the funds for the research and even how to contribute for those who wish to be donors of the organization. This has ensured that very many individuals have access to such funds despite their geographical location. The above marketing activity is in line with their aim of supporting outstanding researchers as now researchers from different countries and who are outstanding in diversity of biomedical or technological research access the funding to continue or start research in their fields of health. This has made the organization to be popular in impartiality and transparency hence it is considered a credible charity organization and among the best in UK. The other marketing activity used by the Wellcome Trust organization is partnering with other biomedical research all over the world with an aim of exploring their historical and cultural contexts and also to accelerate application of the research and especially when finding a solution to the challenges in health fields. One of the institutions it has partnered with and which it also provides funding to in joint projects is the Kenya Medical Research Institute (KEMRI) in Kenya which is in Africa. This has ensured diversity in the research results available and especially in the role of genetics in diseases and health in general. By so doing, Wellcome Trust achieves some of its stated objectives discussed above. The organization is so far doing well in terms of achieving its objectives based on the feedback by the clients and when it is compared with other charity organizations carrying out similar activities. This is evident through the analysis done. However, this is not enough to last the organization for long and therefore a marketing plan is required with additional marketing strategies to ensure sustainability of the organization and ownership of the organization and all its activities by the researchers being funded by the organization. This will ensure that even more researchers who have ambition and creativity will have an initiative to join the organization and those already present will have competition which is good for maximum productivity. One of the marketing strategies to be implemented should be to strengthen the current leadership of the organization. This should be done through decentralization of the organization’s power and management structure to not only in London but also to other geographical locations where they have their researchers. This is necessary to ensure monitoring of the researcher’s work, to get direct and quick feedback based on observation and not expecting to informed. This will deal with the minor problems of communication barrier which is what in the long run reduces the performance of an organization. This can be achieved through integrating all the elements of marketing mix in the organizations objectives. The current organization objectives lack the element of physical evidence. This hinders effective monitoring and management of those far away from the headquarters or offices leading to reduced productivity or quality of the research end products. Lack of physical evidence of the organization will also prevent its accessibility by individuals who might be creative and ambitious enough or have research ideas to improve health research. In as much as the organization has a website, not everyone can access it. The internet is not friendly always and especially to those individuals or institutions in middle or lower-income countries like the third world countries. The appropriate model to be used in marketing such an organization has been used but not to full extent and hence it needs to be revised. The social marketing model which is suited for this organization advocates for the main aim of the organization to be based on social good of the people. This therefore requires the ethical principles and guidelines stipulated about the researches done to the animals and humans to be followed and ensured strictly. In order to fulfil the above marketing strategy described, Wellcome Trust organization should make several changes in the management of the organization like decentralizing their staff and management officials to other locations other than in London and in UK only. More monitoring measures should be put up in order to promote the organization even more and the products it aims to give to the world health professionals and science teachers. This will ensure that the organization will have a large follow up hence necessitating improvement of quality and valid results. In conclusion, the above organization has performed so far when assessed in terms of the market plan it has put forward. This is evident in the strategy report the organization has produced which covers a 10 year period and it outlines the organization’s marketing activities, marketing strategies among other marketing information. This has ensured that the company remains at the top compared to other charity organizations offering the same services as Wellcome Trust. The marketing strategies of the organization has ensured that the funds raised by the organization to support biomedical researchers are always present through donations and other means hence the continuity of the process of fund delivery to institutions, universities and individuals carrying out biomedical and technological research with an aim of improving clinical and public health of both animals and human beings. Reference 2011. Web, http://www.wellcome.ac.uk. Read More