BUSINESS PLAN

Business Plan

Business Plan

TASK I

Rationale for Choice of Scenario

As the marketing marketing department of Grunenthal in pharmaceutical industry, we have been asked to prepare a marketing plan for our new brand, which is to be launched through out. Our marketing analysis identified the target market, which consists of three groups: private consumers, fleet consumers and the stakeholders. The demographic profile and the psychographics profiles amongst the three target markets and their healthcare usage have also been identified. Consequently, a marketing strategy that makes use of various marketing channels has been created. In order to better accommodate the marketing strategy, we have developed an integrated marketing marketing program, which promote brand. This key thought will be leveraged and integrated in all the marketing channels mentioned in this plan. These channels include advertising; direct marketing, interactive/internet marketing, sales promotion, public relation/publicity, and personal selling. The creative strategy is designed to emphasis the unique selling points of Grunenthal and weaken the target markets objections. The budget has been allocated and the majority of the budget will be spent on TV and print advertising.

As we have been asked to develop an integrated marketing plan for Grunenthal, this plan will then focus on the launch of e-services in the pharmaceutical market. Traditionally, single dealers are responsible for local advertising and the promotion of their special offers. However, most manufacturers today create and support national brand image and advertising campaigns. Accordingly, this campaign is designed for the international market.

Marketing Plan

After setting the marketing objectives, a company will concentrate on the way that helps to achieve the desires. That way is called 'core strategy." It involves three components: target markets, competitors' targets and competitive advantages. (Jobber, 2001: 45-46)

Target markets

In this part, companies have to define their customers clearly through some questions. Who are the customers? What character do they have? How do they make a buying decision? When do they prefer to buy? With these answers, it is easy to segment what are a company's target markets.

Competitor targets

It is very important to realize a company's competitors as much as itself. Therefore, analyzing the competitors' strengths and threats is necessary. Indeed, a company can transform its competitors' weaknesses into its competitive advantages or opportunities.

Competitive advantage

To synthesize the examinations of targets market and competitor targets, it can formulate the competitive advantage. By realizing the competitors' strengths and weaknesses, it can make the market segment. In addition, it helps a company or an organization to attack or defend against the competitors.

Pricing

The pricing for the products sold via the website will be priced competitively with local retailers, but also to maximize profits. The primary difference between Grunenthal and the local competitors will not only be price, but the convenience of shopping at home and having products delivered to their door. The website must offer pricing in both Chinese yuan and American dollars. The complication in pricing comes because Grunenthal is new to the market and we must be able to position and price our product(s) to ...