Facebook Pixel Code
x
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Prepare a marketing plan for a company of your choice for the next one and three years Essay Example

Show related essays

Prepare a marketing plan for a company of your choice for the next one and three years

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.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 NHS expenditure. The NHS does not generate any kind of national reimbursement list, but the UK government has adopted several means to keep medicines expenditure under control. These include cash incentives and constraints for GPs, expenditure on medicines, individual quarterly updates on GP prescriptions, the publication of a list of medicines that cannot be prescribed by GPs, the switching of some prescription-only medicines to over-the-counter medicines, and a co-payment system. The pharmaceutical industry has generally performed relatively well in the UK market, managing to preserve incentives to innovation.Drug makers and governments has increasingly entered into the agreements that provide some form of risk- sharing or price protection for new drugs. Since most European governments, including the UK authorities, are focussing on cost containment in the healthcare sector, alternative pricing schemes for medicines allow for budget control, as well as providing patients with access to highly innovative treatments.Recently the European

References

Baker, M. and Hart, S., 2008. Product strategy and management. New Jersey: FT Prentice Hall.

Burk Wood , M., 2010. Essential guide to marketing planning. 2nd ed. New Jersey: FT Prentice Hall.

GlaxoSmithKline plc adr, 2013. Corporate responsibility report. [online]Available at: < http://www.gsk.com/media/press-releases/2013/gsk-publishes-2012-corporate-responsibility-report.html> [Accessed 27 July 2013].

GlaxoSmithKline, 2012. Annual report 2012. [online] Available at: <http://www.gsk.com/content/dam/gsk/globals/documents/pdf/GSK-Annual-Report-2012-financial-statements.pdf> [Accessed 27 July 2013].

GlaxoSmithKline, 2013a. About Us. [online] Available at: < http://www.gsk.com> [Accessed 27 July 2013].

GlaxoSmithKline, 2013b. Global public policy issue. [online] Available at: <http://www.gsk.com/content/dam/gsk/globals/documents/pdf/GSK-on-the-Care-Welfare-Treatment-of-Animals.pdf> [Accessed 27 July 2013].

GlaxoSmithKline, 2013c. Responsibility. [online] Available at: <http://www.gsk.com/responsibility.html> [Accessed 27 July 2013].

GlaxoSmithKline, 2013d. Products. [online] Available at: <http://www.gsk.com/products.htm> [Accessed 27 July 2013].

GlaxoSmithKline, 2013e. Research. [online] Available at: <http://www.gsk.com/research.html> [Accessed 27 July 2013].

GlaxoSmithKline, 2013f. Explore. [online] Available at: <http://www.gsk.com/explore-gsk.html > [Accessed 27 July 2013].

Kotler, P., Wong, V. and Saunders J,. 2010. Principles of marketing. 5th ed. New Jersey: FT Prentice Hall

Lindstrom, M., 2008. Buyology, how everything we believe about why we buy is wrong . Random House Tower: RH Business Books.

Moutinho, L. and Chien, C., 2008. Problems in marketing, applying key concepts and techniques. California: Sage.

Shimp, T., 2007. Integrated marketing communications in advertising and promotion. California: Thomson Southwestern.

Tungate, M., 2007. Adland a global history of advertising. London: Kogan Page.

Tungate, M., 2008. Fashion brands, branding style from Armani to Zara. London: Kogan Page.

Van Arum, P., 2013. GlaxoSmithKline responds to 60 minutes segment on manufacturing issues. [online] Available at: <http://www.biopharminternational.com/biopharm/News/GlaxoSmithKline-Responds-to-60-Minutes-Segment-on-/ArticleStandard/Article/detail/702626> [Accessed 27 July 2013].

Zeithaml, V., Bitner, M. J. and Gremler, D., 2009. Service marketing. United States: McGraw Hill International.]

Appendices

Forecasted Budget for the Year 2013-2015 taking 2012 as the base year

Particulars

2012 (£ million)

2013 (£ million)

2014(£ million)

2015 (£ million)

Net income

379

335

307

304

Income

 

 

 

 

Royal income

498

478

453

443

Interest income

119

101

98

89

Realised gains on liquid investments

7

4

4

3

Disposal of equity investments

31

30

12

25

Other income

44

40

34

24

Total Income

699

653

601

584

Expense

 

 

 

 

Interest expense

234

229

220

219

Fair value hedges

2

3

4

2

Reclassification of cash flow hedge from other comprehensive income

21

31

23

19

Unwinding of discounts on provisions

24

21

19

21

other expenses

39

34

28

19

Total expense

320

318

294

280

Close ✕
Tracy Smith Editor&Proofreader
Expert in: Marketing, Business, Finance & Accounting
Hire an Editor
Matt Hamilton Writer
Expert in: Marketing, E-Commerce, Management
Hire a Writer
preview essay on Prepare a marketing plan for a company of your choice for the next one and three years
  • Pages: 11 (2750 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Ph.D.
WE CAN HELP TO FIND AN ESSAYDidn't find an essay?

Please type your essay title, choose your document type, enter your email and we send you essay samples