GSK has a unique mission statement which explains their aim and (objective of) providing consumers with new products and with more improved projects. The following essay elaborates the marketing plan of the company by describing the current scenario of the industry and also GSK. SWOT analysis identifies the strength and weakness and also the opportunities and threats of GSK that are changing from time to time with the competitive market. The responsibilities that are taken by GSK towards the environment, consumers and the shareholders have been discussed in the study. To evaluate the position of the competitors of GSK, competitive analysis has been done. The Segmentation, targeting and positioning concept explains the target market of GSK and what they do to position their products among its consumers. Lastly a forecasted budget for the year 2013-2015 has been prepared. The income is expected to decrease, even though it can be assumed that the expenses can be controlled. This would possibly because of the unstable condition of the global economy. Mission Statement and Market Overview The mission of the company is to improve the quality of human life by giving them more products and make them feel better and live longer. The Research and Development units, the partners of the company and the workers of the company work in harmony to prevent and treat diseases and make the world a better place to live. The business is focussed towards the delivery of three strategic priorities, which aim to increase growth, reduce risk and improve long term financial performances. These priorities are; 1) growth of a diversified global business, 2) delivery of more products which offer more value, 3) simplifying operating model. Grow diversified global business by creating a balanced business and product portfolio capable of delivering sustainable sales growth. The main business areas are pharmaceuticals, vaccines and consumer healthcare which provide the company significant competitive advantages and opportunity of synergy. Deliver products of value: The Company has re-engineered the research and development (R&D) division in the organisation to develop a whole bunch of products that offer improvement in treatment of patients and healthcare providers. The company has outsourced the research activities allowing access to new areas of science and share the risk of development of its partners. Simplify the operating model through global restructuring programmes designed to deliver significant savings to support investment in priority growth business and thus improve competitiveness further. Pharmaceutical companies are making great contribution to the economy of UK, higher than most other high-tech industries. The National Health Service (NHS) accounts for more than 98% of UK’s prescribed medicines market, which is the sixth largest pharmaceutical market in the world. Most of this market is driven by approximately 35,000 general practitioners (GPs) of UK. The Pharmaceutical industry of UK is an open market, where the leading foreign companies and brands have strong presence. While the growth rate of this market has been decelerating, it remains one of the fastest growing components in
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Marketing Table of Contents Executive Summary 3 Mission Statement and Market Overview 4 Current market scenario 5 PESTLE Analysis 6 Market share and consumers 8 SWOT Analyses 9 Segmenting, Targeting, Positioning 10 Objectives and Issues 12 Marketing Strategies 12 Marketing Programmes 13 Financial Plans 14 Metrics and Implementation Controls 14 References 16 Appendices 18 Executive Summary Pharmaceutical companies are making great contribution to the economy of United Kingdom (UK), higher than most other high-tech industries…
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10 pages (2500 words)Essay
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