Success of any business lies on the marketing strategy of the respecti e company i 'hich helps to incrcasc coinpgtitii’c adi’antagc. sustainability and the most important thing, thc customer outcomc Various compnnics hni’c nscd thcir oii’n and somc traditional marketing stratcgj in order to Luo» current market demand and future production patteni. lii order to perform these planning and analysis thc markcting inanngcr of an organisation plays thc most significant role. Ho»’ci’cr. this innrkcting also ini’oli’cs thc sales in ii hich a compare place th@r products in thc market and directly to the customers before other companies approach Maiij aspects of iiiarket such as tune. region. compctitors and currcnt trends infii@ncc on the innrkcting strategy that an organisation is making. On the other hand, the marketing is not oriented » itli anr product. it also refers to the seri’icing standards » hich impacts on their revenue. reputation and competitii e adi’antagc of concerncd business organisation. In the current rcport. a systcmatic analysis has becn conducted for Saiiofi Pliarmaccutical Company of australia and has analj scd the current markcting stratcgics of thc company.
Issue 1: Background of the co• i›« :
Thc Sanofi Pharmaceutical company has bccn fonndcd on 2004 in australia and Nett Zealand. In 2013 this company has become the fifth largest selling pharmaceutical coiiipany in the » orld and has also bccoinc a multinational compare . The opcration markcting and thc incoinc is about I› 534 billion AUD in 201fi by tlicir sevcn major therapeutic products such as Vaccines (Saiiofi Pasteur), thrombosis, oncology, internal medicines, diabetes and medicines of central men ous si stcins How ci’cr. in thc initial period thc company »’as a subsidiary of Frcnch pctrocheinical company and the name of the company ii as suffixcd by At cntis. Along ii itli the pharmaceutical products. thc company is also proi’idc somc hcalthcarc scri’iccs to thc ciistoincrs and in diffcrcnt hospitals in Australia. The most cffcctn’c product of the company is thc mcdications of both type- l and ti pe-2 diabetes
It has bccn noticcd that. thc company is consisted of l0G0 cinployccs and the company also hai’c a technology supporting statc-of all-art » orld class manufacturing facilities and laboratories inside thc company (sanofi.com. 2018) Thesc impacts on thc production improi’cmcnts of the
company and it has become onc of thc lcading hcalthcarc production company of Australia. Along » ith this, the company has a en strong liiston of rumor ation »'Iiich ids based on collaboration and partnership. Along » itli this a tremendous market inno ation has been conducted bj thc company ii ith thcir innoi’atii’c product Sanofi Pastcur ii hich increases almost 3fi% customers in 2013 in »'hicIi the largest production » as the influenxa i accrue (sanofi corm 2018) Each and ci cr; productions arc customer focussed and thci hai’c also iakcn an approach to access-by-all healthcare fncilitics.
Thc mission of the compare is to dclii’er thc positii’c impact of ci’cri daj life ii ith encouraging better health and » ellbeing bj their innovati e production.
Being a lcading phnrinaccutical coinpnrn the company has recognised thcir responsibility and they focuses to proc ide transparency in order to create an effectii e healthcare serf icing company
Thc Sanofi Phnrmaccutical compare of Australia is alii’ays promoting n marLct innoi’ation and as it is a continuous process. the customer outcome is i amiable According to Abe (2015), in case of a product based company the upgradation and quality maintenance is iiecessan » hich impacts on thc sustainability of thc conccmcd organisation. In casc of Sanofi also. thcrc arc sci’cn major products are responsible for their huge acquisition of customers of australia. The most significant product is the Saiiofi Pasteur »'hich proc ides a number of i accrues such as Influenza, Hepatitis and othcrs On thc othcr hand. another cffcctii’e incdication is innoi’atcd for diabctcs pnticnts. Further in the late 2007, they have rumor ated iiiedicatioiis for both Diabetes-1 and diabetes-2. Along ii’ith thcsc thc compare has nlso promoted i’arioiis incdications for central nein’ous s; stcin. internal organs and mam morc (sanofi.coin. 201S).
On the contrarr, there is another customer focused production innovation ma e been conducted by thc compare ii hich can bc rathcr callcd a scin’icc innoi’ation. This is a collaboratii’c approach that thc company has taken kno» n as Saiiofi and Syinbioii Hospital See iccs (SSAVE). With tlic
hclp of this projcct thc company has also incrcascd thcir rci’cnuc rip to 3010G0 AUD, Ho»’ci’cr. Alsliurideh (2016) argued that. ct en market or product rumor ation require the branding and add ertisements Thus, in case of the Saiiofi Group the branding and add ertisement strategy is also i’cn’ effcctii’c in propagating their business in Asia-Pacific rcgion They hni’c also donntcd a huge amount of vaccine and other medication to the Nepal Eanhquake disasters (sanofi.corm 2018) Thus. thc thrcc major three products of the Sanofi Group arc the Prescription mcdicincs. Vaccines. and Consnmcr hcalthcarc.
Issue 2: DC analysis
a) Lou human resources
b) Lack of production segmentation of u ell being products and personal care
+ Huge turnoi’er rate among employee
Offers a u ide range of phannaceutical
Thc main adi’antagc of the company stratcgj is their production innoi’ation Sincc thc Sanofi Phannacciitical »’as a small subsidiay’ company of a big pctrochcmical production bascd company . tliej had estnblisli their business in the Asia Pacific region especially in Australia and New’ Zcaland According to Ascarza e/ o/. (2018). in ordcr to cstablish a compare thc competitii e analysis is needed to be performed. Thus, in case of this company this has been cffcctii’cly donc and no»’ thcy hnx’c bccomc fifth largest production based compare in the global scale.
+ Rising coinpetitix e rn alr\ is the most significant threat that company is has ing due to the presence of brands like 3M Phannaceuticals. Abbot
Reformation of [pricing skims by the australiangoi’erninentin pharmacological product
Barriers of niles in critical trials of
medicines on people and animals.
Health an areness is increasing among people especially tliej hat e become interested for taking i’accines
Increasing rate of diabetes and neurological diseases among people
+ Further collaboratix e production and healthcare see ices
Table 1: SWOT analysis of Sanofi pharmaceutical
The customer outcoiiie of the company is the major strength which impacts on their revenue. According to Birt iikozkan cr o/. (2Gl 0). an increascd rci’eniie of a company proi’idcs a rapid coinpetitii’c adi’antagcs and sustainability in the markctplace. It has been noticcd that ii ith the help of increased number of customer outcomes the rei eiiue of the company has increased up to
10.3 billion AUD in 2017 On the othcr hand. Chernex’ (2018) argiicd and commcnted that. ii ith the help of branding and add ertising strategy a company can retain and increase a huge number of potential customers. These aspect has been noticed in the company and thej hat e contain 3.fi million potcntial customers in Australia.
After propagating the biisincss of Sanofi Pharmaccutical Group in Australia. the company has started a collaboratii e approach. This is a collaboratii e approach that the coiiipany has taken knot ii as Saiiofi and Sj mbioii Hospital Sen ices (SSAVE) As opined by Huang ct o/ (2015), a company nceds to promote i’arious siakcholders in order to incrcase their rei’enue and loii’er the
market risks Kerr and Patti (2Gl 5) snpportcd on this argument and commcnted that, ii’ith thc help of proper stakeholder management a company can eradicate the negati e customer inotii’ations and manage the risk of rei enue loss. In order to collaborate » ith various healthcare centres. hospitals. and medicine companies the company has dci’clopcd diffcrcnts strategics.
Ho»’ci’cr. thc company is hnx’ing a trcmcndons pressure of compctitii’c rix’aln din to thc presence of a nuiiiber of leading healthcare and pharmaceutical brands Among the ri alk companies the 3M Pharmaceuticals, Abbott Laboratories and Acadia Phannaceuticals can be namcd »’ho proi’idcs inassii’c markct threat to the company According to. Maldonado er n/. (2015) coiiipetitor analysis is helped to Luo» the external em ironment of a company and i 'itli thc help of this. thc upcoming market stratcgics can bc planned
As stated bj Miguel-Romero ct o/ (2014), the context or climate is the both intenial and external factors that affect on thc organisational grow th. customer outcome. sustainability and innoi’ation strategy. In case of Saiiofi company the most significant threat is proi’ided by the le gal obligation of the australian goi’crnmcnt on the application and trial of inedicincs on human beings and animals As per the policies of Thcrapcutic Goods Administration (TGA). x’arioiis mcdication companies trial their medicines on animals. that has been controlled by the respecti e associations. This has put boundaries on the rci’cnuc of thc company
Issue 5: Evaluation of collection of information
The main aim of the Saiiofi Pharmaceutical company' is to proc ide a transparency in their production rind scri’icc. According to Shcth and Sisodia (2015). in ordcr to maintain the cffcctix’c customer serf ice a company can dev elop strategic planning. Vargo ct of. (2015) supported and coinincntcd that. among thc stratcgic planning the most important aspect is thc maintaining quality of products Each and ci’cy’ products of the company arc measured bi thc Australian Mcdical council (AMC) along i 'itli this, the Sanofi Pasteur or thc i accrue products are also spcciallj’ mcasiircd and quality tcstcd by the Australian Hcalth Practitioncr Rcgiilation agcncy (AHPRA) On the other hand. the branding and collaborative strategy of thc company are
rcsponsiblc to lori cring thc thrcat from Abbott Laboratories and incrcasc the coinpgtitix’c advantages of Saiiofi Pharmaceuticals As Mistier and Pari’inen (2015) supported and commented that. i ith the help of effectii e branding and add ertising strategies a coinpanr can achiei e superior compctitii’c add antagc and sustainability in a specific markctplacc
Ho» e er. in case of Saiiofi Pharmaceutical company the branding strate gy is not upgraded cnough to attract morc customcrs As commcntcd by Moorc e/ al. (2Gl 5) that. in many pharmaceutical compare the onlinc scri’ice option hclps their business to grout On casc of Sanofi coiiipany this strategy is not much effectii e as tliej only focuses on the collaborati e scri’iccs in hospitals and healthcare scctors. On thc othcr hand. Mullakhinctoi’ er al (2010) argued that. the recent trend in branding is focused on the social media and » ebsites » hich are effective to tracL and attract a lot of customers in a i 'ide range of place. Thus. the Saiiofi company has not cffcctii’c folloii’ing the social incdia branding strategy ii’hich rcsults in acquiring a huge amount of custoincrs iii a small area. This is not bcncficial for any busincss The main adi’antagc of thc company stratcgj’ is thcir production innoi’ation.
Sincc the Sanofi Pliarmaccutical i as a small subsidiary company of a big petrochemical production bascd company, tliej had establish thcir business in thc Asia Pacific region especially in Aiistr;ilia and Ncii’ Zcaland. It has becn noticcd that thc dominant markct of thc company is situated in the Nc» South Wales and surrounding regions and some parts of Ne» Zealand According to Sacbi and Foss (2Gl 5). the promotional strategy of a company’ nccds to consider thc global fact rather a rcgional fact ii hich can incrcasc the rci’cnuc and sustainability of a company . Ho» c er, tlic collaborative approach has played an effcctii e role in branding and ciistomcrs outcomeMam hospitals and healthcare ccntrcs along ii ith the physicians arc associated ii itli the Sanofi Phanna company and are proc iding the medications and ii ellbeing facilities to the consumers. Along ii itli this, the legislatii’e and political factors are also influencing on business oiitcoinc of thc company Critically . it can be siatcd that thc thc currcnt political scenario is quite stagnant although the tremendous marLet competition impacts on the ciistomcr seri’iccs. stakeholder’s loyalty and sustainability .
Issue 4: Development of marlteting strategy’
In ordcr to conduct a stratcgic marketing plan. the Sanofi Company can dci’clop a proper market sedimentation. According to Vogel and Paul (2015), an effective market se gmentation can be done based on four aspects such as demographic. geographic, psj cliograpliic and beha ioural. lii case of thc Sanofi Pharmac@tical compare . initially thcy hai’e only focnsscd on thc pcoplc and healthcare sectors of the Wales Later they hat e segmented their market all o er the Australia and Ncii Zcalnnd. On thc other hnnd. the dGlnogrnphic character is also influenced on thc marketing stratcgj of the compare It has bccn noticed that thc medicine and i’accinc cost of the company ma e estimated according to the gross aimual income of 75,000 AUD to 125.000 AUD. hoii’ci’cr. a concession of pricing has bccn prox’idcd to thc customcrs ii’hosc incoinc is bcloii
50.000 AUD. Along i 'ith this thc collaboratii e serf icing of the Snafi company also pro ide scri’ice of personal care and » cllbeiiig to the poor incomc group of customers. These impacts on thc production improi’cmcnts of thc company and it has bccome onc of thc lcading hcalthcarc production company of
Bcsidcs this. the company is prci’ailing a i’cri strong histon of innoi’ation that is based on collaboration and partncrship. Along ii’ith this a tremendous inarkct innoi’ntion can be condiictcd by the coiiipaiij' with their iimovatii c product Pastcur or i accinc i 'hich increasc almost 28% ciistomcrs in 2017 than 2G 16. As opined by Wagncr and Eggcrt (2016). a company can incorporate a number of stakcliolders in order to increase the rei enue of the company and lori er the inarkct risks On the other hand. the branding and collaboratii e strate gj of the company arc rcsponsiblc to lo» cring thc thrcat from 3M Phannaccutical Company and incrcasc the competitii e add outages of Saiiofi Pharmaceutical company . Wirtz ct of. (2016) supported and coinincntcd that. ii ith thc hclp of cffcctii’c branding tcchniqiics and adi’crtising stratcgics a company can achici’c high compctitix’c adi’antagc and sustainability in a spccific markctplacc Along i ith this, ii ith the help of social media a huge number of customer can be reached On the contrary Zhabin ‹i of. (2016) argucd that. in case of ant B2B or B2C business model. along ii ith the social branding. the direct promotion of also effectii e. Thus, in order to promote direct branding the coinpail can conducted that by direct mailing. This can be supported by 24/7 ciistomcr care and support centre in order to proi’idepersonal and general ii’ell bcing in emergency situation
Issue S: Development of tactics in marketing b› JP marketing mix analysis
lii australia. healthcare industrr is one of the booming industrr » hich are offering a lot of pcrsonal health and oi’crall is cllbging It has bccn noticed that thc cntirc hcalthcarc indiisty’ of Australia arc achici’ing 4 6% annual grow th annually among them n major share is of Sanofi Company By 2023, the gro» th of the industrr » ill be of 137 billion AUD in Australia. Thus, thcrc is a huge scope ariscn in case of Sanofi Pharmaccntical company to incorporatc more innoi’ntion According to Abc (2015). it is not alii’ai s ncccssan to promotc ncii products ci’cn daj to acliiei e market competency . although the quality maintenance and remodeling of old products arc also important Thus. the sci’cn major products cspccially the diabetes and pastcur products needs to be evaluated and promote them according to the current trend in market.
After measuring the location of target customer, the Saiiofi Pharmaceutical company needs to proiiiote their business in the respectii e place According to. this is » my the marLet segmentation is nccdcd for any business organisation in ordcr to research to the maximum number of customers According to Alsliurideh (201fi), after the market se ginentation, a company should find out by ii’hich mcthod thc marketing and adi’crtisCincnts arc going to bc conductcd. Ascarza eI al. (2018) supportcd and coinmcntcd that. in casc of n non »’cb sco’icc bascd company thc branding can bc done bj news paper add ertisemcnts. Icaflet or postcrs. On tlic contras', in casc of a onlinc scri’icc company thc branding can bc donc i’ia ii cbsitcs. apps. social incdia. mailing and many inorc. Like othcr pharmaceutical company the Sanofi pharmacciitical company can proc idc 24/7 serf ice and dclivcn by call in order to i 'idcn up the scope and placc for marketing
The pricing should be doin according to tlic income of the targct group. According to Birt ukozLan e/ n/ (2016). if am company sclccts onh high profilc consumers as thcir target group. thc company can suffcr from lack of potcntial customers How ci’cr. Miillakhinctoi’ cr n/. (2016) argued that, the pricing strategy of a coiiipanj does not mcan it should be chcapest. In casc of the Sanofi Pharmaceutical company. the strategic pricc managcmcnt rcfcrs to the at ailability of products such as diabetes medicines, i accrues and others in a affordable price for thc common pcoplc Being thc largcst i’accinc production brand. thc company has achici’cd to
maintain a modcratc price for common pgoplc. Thus. it can bc suggested that in future the Sanofi Pharmaceutical coiiipany needs to ct aluate the market condition and promote their pricing strategy.
Proiiiotion is one of the main part of marketing and sales » hich detennines the reputation, cxposurc and attention of customers. Being thc »’orld’s largest i’accinc manufacturing company. the Saiiofi Pharmaceutical coinpanr receii es a lot of oral promotion. Ho» ei er. the company needs to promote more strategic promotional management in order to Io» er the competitii e ris’aln’. Numcrous leading pharmaceutical companies of Australia and NTW Zcnlnnd pcnctrating into the market and proc iding high rate of coinpetitii e rim altr Thus, in order to mitigate this chnncc the company nccds to promotc social mcdia branding. Personal Selling. PR. tcle-branding and others.
Henceforth. it can be concluded that the aboi’c scenario of marketing stratcgj of Sanofi Pharmaceutical company stating the marketing strate gy is importniit for any kind of business With the hclp of cffcctii’c markcting strategy thc Sanofi company can rcccii’c sustainability of business. compctitii’c add aniagcs and rctcntion of potcntial customcrs Besides this. thc compare is pres ailing a i ey strong histon of iimoi ation that is based on collaboration and partnership In ordcr to conduct a strategic marketing plan. thc Sanofi Company can dci’clop a proper market scgiiiciitation. In order to achiei e these. the coiiipany iiecds to change their cxisting marketing stratcgy for lot ering the threats. Lastly. it can be stated the lot number of employees also impacts on inarkcting stratcgy and sC1n’icc quality ii hich is nccdcd to bc incorporatcd in the company. Thus, i 'ith the hclp of these strategy the company can devclop propcr markct scgrcgation and retention of potcntial consuincrs in ordcr to sustain their biisincss.
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