Great Deal! Get Instant $10 FREE in Account on First Order + 10% Cashback on Every Order Order Now

the topic is from any of these two :1. Pharmaceutical2.Age care

1 answer below »
the topic is from any of these two :1. Pharmaceutical2.Age care
Answered Same Day May 03, 2020 HI6005

Solution

Abr Writing answered on May 10 2020
145 Votes
Running Head: Developing Marketing Strategy        1
Developing Marketing Strategy
16
DEVELOPING MARKETING STRATEGY
Executive Summary
This report was premised on developing a marketing strategy for Australian Pharmaceutical Industries. For this purpose, the reporter has provided a
ief account of the pharmaceutical industry or austral. After that, the paper has also incorporated detailed analysis of 5Cs of the selected organization, where a detailed description of the company, their customers, collaborators, business competitors as well as context have been penned down in detail. The analysis has revealed that cu
ently, the company is in a moderate level of competitive advantage. In addition, analysis of marketing mix has also suggested that cu
ently Australian Pharmaceutical Industries is among the lead players in the market and has the potential to emerge as the leader of Australian pharmaceutical industry.
Table of Contents
Introduction    5
Issue 1: Organisation and Industry    5
About Pharmaceutical Industry    5
About Australian Pharmaceutical Industries    5
Issue 2: 5Cs of the organisation    7
a. Company    7
. Customers    8
c. Collaborators    9
d. Competitors    9
e. Context    9
Issue 3: Collection of information    11
a. The need of Customers    11
. The threat of Competitors    11
c. Change of Business    11
d. Role of Collaborators    12
Issue 4: Development of Marketing Strategy    13
Choice of Target Market    13
Proposition for Target Market    14
Positioning Statement for Target Market    15
Issue 5: Marketing Mix    16
Product    16
Place    17
Price    17
Promotion    17
People    18
Process    18
Physical Evidence    18
Conclusion    19
Bibliography    20
Introduction
The report aims to evaluate the marketing strategy which shall be used by the organisation of Australian Pharmaceutical Industries. Here, the report has been seen to provide an overview of the organisation and industry, followed by the business environment of the company. Moreover, strategies used for collection of information have been noted followed by the development of marketing strategy and application of marketing mix in the report.
Issue 1: Organisation and Industry
About Pharmaceutical Industry
The Australian pharmaceutical industry has been noted to deal with the aspect of mainly developing innovative drugs in the Australian market (Lo, 2016). However, in the recent years, the said industry sector has been noted to develop various changes in the production of pharmaceutical items to make the company cater to the aspect of sustainability in the market. However, the survey report as provided by PwC Australia (2015), has shown only 89% in the importance of strategic alliances and framework in the market of the said industry. Moreover, it has even been found that as per the trends in the said industry, the pharmaceutical market of Australia would be seen to rise from 22.85 billion AUD in 2016 to 25.2 billion AUD by 2020, showing a scope for moderate growth of pharmaceutical companies in the industry.
About Australian Pharmaceutical Industries
The organization of Australian Pharmaceutical Industries (API) had been founded in the year 1910, by chemists, David Williams, Edgar Schofield and James Constable (API, 2015). The said company is led by its chairman, Mark Smith and CEO, Richard Vincent (API, 2014). The mission of the company is to provide the customers with quality, innovative and affordable healthcare products and services in the Australian market. The organisation of API (2017) further seeks to implement this in its strategic framework to achieve its vision of ‘enriching life’ for health, wellbeing and beauty of the individual. The said company has been known to ca
y this out through the values of excellence, initiative, respect and unity in its services.
Figure 1: Timeline of the Development of Australian Pharmaceutical Industries (API)
(Source: API, 2015)
According to the above figure it has been noted that, by the year 2014, it was noted to have more than 400 stores, of which 400 stores belonged to its
and Priceline itself. This has allowed the said company to undertake a new project - SAP to merge the aspect of wholesale retail activities in the sale of its pharmaceutical items in the Australian market.
Issue 2: 5Cs of the organisation
a. Company
    Strengths
· The Australian Pharmaceutical Industries (API) is a well known pharmaceutical
and in Australia.
· It has been noted to have more than 400 stores, which provides it with a scope of high profits in the industry.
· It is more of a niche company when it comes to the sale of over-the-counter pharmaceuticals and toiletries products in the market.
    Weaknesses
· The Sigma controversy has been noted to very have an impact on the company.
· The pharmaceutical market of Australia has been noted to have three major players - API, Sigma and Symbion Health. The intense rivalry between these three company has been noted to make it difficult for the company to experience in the growth of market share in the industry.
    Opportunities
· The scope of development in the medicinal, healthcare and beauty products provides the company with an opportunity to grow in the market, and maximise profit earnings.
· As pointed out by Vitry & Roughead (2014), the aspect of online marketing allows the company to penetrate even into the online customers in the market.
    Threats
· The major threat is derived from the rivalry from Sigma organisation. The said organisation has been noted to provide the organisation of API with major competition as pointed out by Vitry, Thai & Roughead (2015) in their study.
· The stringent rules and policies set up by the Australian government as pinpointed by Parkinson (2015), creates a major ba
ier to the trade and marketing activities of the company.
Table 1: SWOT Analysis of API
(Source: Vitry & Roughead, 2014)
. Customers
The organisation of API has been noted to deal with those customers who require quality medicinal drugs and retail pharmaceutical items in the market. It is known to reach out to its customer through the basis of healthcare professionals, hospitals, wholesalers and generic distributors in the industry. The said section of customers is very much aware about pharmaceutical
ands available in the market of Australia (Moss, 2016). It has been pointed out in the report of Australian Pharmaceutical Industries Limited (2015), that, customers in the said market are very much aware about the policies regarding the pharmaceuticals industry and are very much health conscious. Moreover, if they receive good services, they get easily loyal to the
and. This behavioural traits can be used by the organisation to plan its strategic moves and grow in the market.
c. Collaborators
The collaborators of API are noted to be receiving its supplies by help of partnership strategy. The application of such a strategy in the marketing activities has enabled the said company to distribute the products of the organisation in a better manner. According to the report of the company it has been noted that, the company implements this in the franchising strategy at the firm. This allows the said organisation to reach supply to the market and gain profits in the industry.
d. Competitors
The said company has been noted to face a major threat of rivalry from the pharmaceutical
and of Sigma. According to a controversy which rose up in the recent years, API was known to be bid for by Sigma itself, making the said organization the major rival of API in the pharmaceutical market scenario. It has been noted in the study of Christie et al....
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here