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Developing an international marketing plan for an organisation - Assignment Example
Author : hyattblanca
Pages 14 (3514 words)
The primary purpose of this report is to propose an effective marketing plan emphasizing on different marketing attributes and strategies for a new product of Johnson & Johnson (J&J) in the existing medical equipment and pharmaceutical industry of Australia. …
In order to create new customer segments for the newly launched products, the marketers tend to practice extensive marketing strategies and activities. Concerning the industry structure, it can be stated that the medical equipment and pharmaceutical sector is dominated by few major marketers including J&J that has been long serving the customers. Threats of substitutes as well as new entrants are also observed to be low in this industry owing to high degree of regulatory interventions, capital intensiveness and greater dependency on customer as well as stakeholders’ trust (Giudice, & Bolduc, 2006).
J&J can be regarded as one of the renowned brands in the global medical equipment and pharmaceutical industry. The company was founded in the year 1886 and is well known for its enduring performances of delivering quality based medical devices and diagnostic products to the global consumers (Johnson & Johnson, 2013). The organization also seeks to embrace adequate research and development initiatives through the integration of innovative ideas which ensures the empowerment of health as well as wellbeing of its wide range of global consumers. The products offered by J&J principally involve maternity kits, childcare products, fast-aid equipments and surgical apparatuses among others (Johnson & Johnson, 2012). Therefore, diversifying by extending its product line through serving a nutrition drink for mothers can contribute towards the brand recognition of the company along with increasing its market share in the Australian medical equipment and pharmaceutical industry.