Introduction
The father of business consulting, Peter Drucker, once said that a business enterprise’s purpose is to create a customer by using two main business functions being marketing and innovation.
Walter Strathmeyer, an intellectual German biochemist who founded Biostrath, articulated the brand’s positioning as a leading household name in the pharmaceutical and supplement industry, using the basic functions of marketing and innovation.
In this critique, I discuss how Biostrath garnered this success. In doing so, I will tackle this through the evaluation of how Biostrath focuses on marketing orientation, decision-making at the corporate, business and functional levels and then derive an opportunity analysis via strong focus on strategic …show more content…
This is due to the fact that the product was not performing well in the South African market. The problem of no marketing activity was identified as well as negligible initial volumes. Synergy needed to be initiated, in order to reach a potential niche offering. Synergy is when two organizations combine their resources or collaborate in order to achieve a goal through combined efforts. I would describe this as a favourable alliance and partnership. This strategy predominantly describes forward integration. Forward integration is defined as a form of vertical integration where business activities are expanded to include the direct distribution of a company’s products. In turn this increased Biostrath’s market share in the industry. The only way SANP succeeded in making Biostrath a household name in South Africa is that they first identified that there was a demand and a large scope for products that contained natural ingredients as a means to maintain good health. They used this consumer information as leverage to attract consumers and create strong brand awareness. I commend SANP’s tactfulness because they paired transparency with an educational approach by dissecting every element of what Biostrath is, avoided loop holes and handed it over to consumers, leaders in the industry such as pharmacies and …show more content…
As per the case study, we can focus on the assistance of SANP in establishing the presence of Biostrath in South Africa which is now Biostrath’s strongest market segment. It is imperative to also highlight that in the differentiated defender environment marketing plays a large role in a sense where marketing activities are conducted in order to achieve the goal of customer awareness and loyalty. Ofcourse, this can only be achieved by means of communicating the product’s offerings or benefits to customers through promotional and sales techniques. In this sense, it is imperative to track customer needs and stay updated with what competitors are doing. With reference to the case study, Biostrath uses advertising vehicles such as TV and radio to reach its target audience and provide further knowledge of the product thus contributing widely towards exposure. In the end this would pay off as a favourable return on
The father of business consulting, Peter Drucker, once said that a business enterprise’s purpose is to create a customer by using two main business functions being marketing and innovation.
Walter Strathmeyer, an intellectual German biochemist who founded Biostrath, articulated the brand’s positioning as a leading household name in the pharmaceutical and supplement industry, using the basic functions of marketing and innovation.
In this critique, I discuss how Biostrath garnered this success. In doing so, I will tackle this through the evaluation of how Biostrath focuses on marketing orientation, decision-making at the corporate, business and functional levels and then derive an opportunity analysis via strong focus on strategic …show more content…
This is due to the fact that the product was not performing well in the South African market. The problem of no marketing activity was identified as well as negligible initial volumes. Synergy needed to be initiated, in order to reach a potential niche offering. Synergy is when two organizations combine their resources or collaborate in order to achieve a goal through combined efforts. I would describe this as a favourable alliance and partnership. This strategy predominantly describes forward integration. Forward integration is defined as a form of vertical integration where business activities are expanded to include the direct distribution of a company’s products. In turn this increased Biostrath’s market share in the industry. The only way SANP succeeded in making Biostrath a household name in South Africa is that they first identified that there was a demand and a large scope for products that contained natural ingredients as a means to maintain good health. They used this consumer information as leverage to attract consumers and create strong brand awareness. I commend SANP’s tactfulness because they paired transparency with an educational approach by dissecting every element of what Biostrath is, avoided loop holes and handed it over to consumers, leaders in the industry such as pharmacies and …show more content…
As per the case study, we can focus on the assistance of SANP in establishing the presence of Biostrath in South Africa which is now Biostrath’s strongest market segment. It is imperative to also highlight that in the differentiated defender environment marketing plays a large role in a sense where marketing activities are conducted in order to achieve the goal of customer awareness and loyalty. Ofcourse, this can only be achieved by means of communicating the product’s offerings or benefits to customers through promotional and sales techniques. In this sense, it is imperative to track customer needs and stay updated with what competitors are doing. With reference to the case study, Biostrath uses advertising vehicles such as TV and radio to reach its target audience and provide further knowledge of the product thus contributing widely towards exposure. In the end this would pay off as a favourable return on