Impact of marketing strategy of GlaxoSmithKline Bangladesh Ltd.

Abstract

GlaxoSmithKline (GSK) is the world leading research-based pharmaceutical company with a powerful combination of skills and resources to provide a platform for delivering strong growth in today’s rapidly changing health care environment. GSK is the product of a number of mergers and acquisitions. The merger made GSK the world’s number one pharmaceutical company. GlaxoSmithKline have different type of products. Stiefel, a GSK company, is improving the quality of life for those affected by skin conditions around the world. Stiefel has both prescription and consumer products. Under consumer or non-prescription products they have Acne-Aid-Bar, Oilatum, SpectraBan, Lacticare, Sustid Bar etc. GSK is trying to reach the products towards consumer. Till now the consumers only buy these products when it is doctor prescribed otherwise they don’t buy this. These products are very high quality and expensive products. It can be used by any general consumers who are facing acne, sunscreen or dry-skin problem. Hence, in this report I tried to analyze the market demand of customers for Stiefel products. Most of the people are not aware about these products. And if they don’t know about the products how could they buy. However, awareness should be created to make people know about the usefulness of these Skin products. The Stiefel products are very much effective and a person can use this daily basis and get rid from the problems. Stiefel products have been launched in the market many years ago but as the products are non-prescription consumer products GSK trying to make the consumer aware about the products. So, this report is prepared to develop the marketing strategy for this product. Proper steps should be taken to market the product so that it can grab the consumer attention and hold a strong position in the market. To get idea about the consumers’ feedback regarding this product a survey was conducted in pharmacies and some other places also. Most of the respondents become aware and are willing to accept such a product which will take care of their skins. As a Marketing Intern at Consumer Healthcare I was assigned with a variety of tasks that are mostly related to Brand Support Activation program and Point of sale marketing. In my report I tried to identify the SWOT analysis of GlaxoSmithKline Bangladesh Ltd, the market segmentation of the company, the competition analysis, strategic marketing analysis, sales forecast of the company and the whole brand management system. I emphasized on their advertisement pattern and the impact of these promotional strategies on the behavior of consumer in terms of brand building.