Introduction
GlaxoSmithKline, known as GSK, is an established pharmaceutical company that originated from the British. It was formed by the merger of Glaxo Wellcome and Smith Kline Beecham which from the past till now, operates globally in the science industry that later on got into the ranking amongst the world’s top ten largest companies after rising in the year 2000.
Glaxo Wellcome, which consisted of Glaxo’s and Burroughs Wellcome became one of the world’s third major pharmaceutical company. By the late 1900s, Glaxo Wellcome had rose to become the world’s biggest manufacturer for the treatment of asthma and AIDS/HIV.
Beecham group, after their rapid amount of medicines in 1859 later on became broadly involved in pharmaceuticals by the …show more content…
In fact, the current economic ambiguity, related to European markets might have resulted in negative implications on the marketing strategy.
GSK’s marketing strategy is majorly affected by countries like China and India due to the economic growth that has been inclining. Unfortunately, European markets are economically unstable, resulting in high risk of negative impacts due to distribution fluctuations.
Also, reduction of disposable income due to the economic crisis leads to unaffordable health insurances which means the company will not be receiving a healthy amount of finance as the people are unable to even afford the insurances for themselves, resulting in a continuous cycle affecting cost saving policies. Despite the existence of economic crisis, government reports still state that the cost of healthcare per capital is still …show more content…
In addition, advanced social networking nowadays, keep the consumers updated on the company’s activities, hence its reputation is at stake to the media. This awareness might cause the marketing strategy to alter in favour of expectations, or in worse cases, demands.
Technological factors
Constant technological advancements have managed to provide breakthroughs in the pharmaceutical industry, especially in the developing and manufacturing of products. For instance, more advance equipment allows further research to take place and improves the effectiveness of production by creating a better facility. This will enhance the convenience and services, especially in interactions and advertisements.
The main areas of focus is on infrastructure and manufacturing, as these make the most differences especially during competition. Improved quality and automation, along with incentives and most importantly, cost savings will determine the advantage strength. When in comparison, better quality usually ensures a better outcome.
Legal
GlaxoSmithKline, known as GSK, is an established pharmaceutical company that originated from the British. It was formed by the merger of Glaxo Wellcome and Smith Kline Beecham which from the past till now, operates globally in the science industry that later on got into the ranking amongst the world’s top ten largest companies after rising in the year 2000.
Glaxo Wellcome, which consisted of Glaxo’s and Burroughs Wellcome became one of the world’s third major pharmaceutical company. By the late 1900s, Glaxo Wellcome had rose to become the world’s biggest manufacturer for the treatment of asthma and AIDS/HIV.
Beecham group, after their rapid amount of medicines in 1859 later on became broadly involved in pharmaceuticals by the …show more content…
In fact, the current economic ambiguity, related to European markets might have resulted in negative implications on the marketing strategy.
GSK’s marketing strategy is majorly affected by countries like China and India due to the economic growth that has been inclining. Unfortunately, European markets are economically unstable, resulting in high risk of negative impacts due to distribution fluctuations.
Also, reduction of disposable income due to the economic crisis leads to unaffordable health insurances which means the company will not be receiving a healthy amount of finance as the people are unable to even afford the insurances for themselves, resulting in a continuous cycle affecting cost saving policies. Despite the existence of economic crisis, government reports still state that the cost of healthcare per capital is still …show more content…
In addition, advanced social networking nowadays, keep the consumers updated on the company’s activities, hence its reputation is at stake to the media. This awareness might cause the marketing strategy to alter in favour of expectations, or in worse cases, demands.
Technological factors
Constant technological advancements have managed to provide breakthroughs in the pharmaceutical industry, especially in the developing and manufacturing of products. For instance, more advance equipment allows further research to take place and improves the effectiveness of production by creating a better facility. This will enhance the convenience and services, especially in interactions and advertisements.
The main areas of focus is on infrastructure and manufacturing, as these make the most differences especially during competition. Improved quality and automation, along with incentives and most importantly, cost savings will determine the advantage strength. When in comparison, better quality usually ensures a better outcome.
Legal