Thursday, December 12, 2019
Sustainable Business Planning for Responsible- myassignmenthelp.com
Question: Discuss about theSustainable Business Planning for Responsible Business. Answer: The Marketing Background Of Csl CSL is in a very complex industry. The company has to be careful if it is interested in maintaining its reputation. For many years, CSL has utilized different channels in marketing its products. One of the latest media is the internet (Fitzgerald et al. 2014). Today, one is only needed to key in the company names and get to know more about the products. However, considering the type of products that the company deals with, there is a need for the company to go beyond the marketing strategy and look into ways of ensuring that it meets the need of the customers than just availing the products in the market (Festa et al. 2016). In the process of marketing its goods to the customers, CSL utilizes Code of Responsible Business Practice. Putting into consideration that the company markets to the global consumers, it makes sure that it follows all the ethical marketing procedures and that is one of the reasons why the company still has a good reputation in the eyes of the customers. The 4PS of CSL Product CSL is one of the organizations which makes sure that its products are in line with the needs of the customers. Recently, the company showed its interest to move into the Chinese market (Hunt, 2017). The reason for doing so is because the company has been able to produce what the customers need and there is no doubt that it can now serve broader markets. During manufacturing, CSL makes sure that all ethical standards are met, and that is why the quality of the products cannot be compromised. When it comes to the aspect of suppliers, CSL makes sure that all its suppliers only provide goods which are of high quality to the customers. The move has led to the company winning the hearts of many customers. Pricing The profit of CSL has been predicted to increase by 20% after every year. The reason for the prediction is because of the trend of the company (Tapp Spotswood, 2013). When it comes to pricing its products, there is one exceptional decision that CSL Company made. The company produces products that are not produced by many organizations. However, that has never been the reason for CSL to overprice its products. Every product at CSL is in line with its value, and that wins the hearts of its customers thus making it the biggest Biotechnology Company in Australia. Promotion As far as the issue of promotion is concerned, CSL does not concentrate some much on promotions. The promotions that are conducted in most cases are only realized by the local customers (Resnick et al. 2016). However, the reason for doing so has been associated with the ability of the organization to win the hearts of the customers without going to the extent of convincing them that they should buy. Through the word of its customers, the customers of CSL increase and this is because the company only produces quality products and leaves the customers to spread the word to their fellow customers. Place CSL has established itself beyond the location aspect; one can get the products of the company in any place. Considering the type of products that CSL manufactures; medicines, it is expected that getting the product of the company would not be a hustle (Salam et al. 2015). The company works closely with the leading pharmaceutical with the intention of making sure that the pharmaceuticals sell their products on their behalf because it cannot reach every customer. The company has however done a recommendable job in reaching a big number, and that is evident by looking at how it has crossed the boundary of its country of origin. In 2012, CSL started its operations in Africa, and now it is looking into ways of getting in China (West et al. 2015). The move shows how the company is determined to ensure that all its products are everywhere and the customers can access them whenever they need them. One good job that CSL has done as far as the issue of the place is concerned, it has worked wi th suppliers to make sure that its products reach customers at the grassroots and that is an aspect which is very crucial in marketing. It is by availing a product to the customers that one can meet their needs at their level. A Comparison of CSL 4PS and its Closest Competitors Sanofi and Baxter International Inc. are the two major competitors of CSL. Sanofi gives CSL a run for its money when it comes to products. The company markets most of its products as not products which are manufactured by chemicals but drugs which are manufactured using organic products. As a result, more customers are attracted to the products of Sanofi because the world has been moving the organic way (Baker, 2014). When it comes to place, CSL is doing better than Sanofi, and that is because CSL has effective mechanisms of availing its products in the markets. When it comes to pricing and promotion, the two organizations seem to be playing at the same level. When it comes to the comparing of the 4Ps of Baxter International and the 4Ps of CSL, CSL stands tall. Baxter is trying, but it has not reached the level of CSL. There is so much for Baxter to do if it wants to compete with CSL (Ke Li, 2015). First, Baxter manufactures products which do not get too many customers. Therefore, i t has done less to market its products. The world is a global village; there is a need for a company to have all relevant information about its products. Considering the evolution of technology, organizations should make sure that customers in overseas get to know about the products; something which CSL and Sanofi have done. When it comes to place, Baxter has not done enough to avail its products in the market for every customer who needs them to have them. Promotion would work better to Baxter if it were to compete with CSL, but Baxter has not concentrated on promotion of its goods. CSL is doing well. However, it needs to increase its suppliers and agents all over the world. The healthcare industry has a lot of potentials and it needs to be explored. The products of CSL have proven to meet the needs of the healthcare industry, and therefore, CSL should be more aggressive. References Baker, M., 2014. Marketing strategy and management. London: Palgrave Macmillan. Hunt, S.D., 2017. Advancing marketing strategy in the marketing discipline and beyond: from promise, to neglect, to prominence, to fragment (to promise?). Journal of Marketing Management, pp.1-36. Festa, G., Cuomo, M.T., Metallo, G. and Festa, A., 2016. The (r) evolution of wine marketing mix: From the 4Ps to the 4Es. Journal of Business Research, 69(5), pp.1550-1555. Fitzgerald, J., Cavanaugh, N., and Bhiro, R., 2014. CPR for the 4Ps-Breathing new life into the marketing mix. International Academy of Business and Economics, Ft. Lauderdale, Fl. Retrieved from https://iabe. org/domains/iabeX/Default. aspx. Ke, H. and Li, L., 2015, March. Research on the Development of Chinese market Based on 4Ps Marketing Mix. In 2015 International Conference on Education Technology, Management and Humanities Science (ETMHS 2015). Atlantis Press. Khan, M.T., 2014. The concept of'marketing mix'and its elements (a conceptual review paper). International journal of information, business, and management, 6(2), p.95. Resnick, S.M., Cheng, R., Simpson, M. and Loureno, F., 2016. Marketing in SMEs: a 4Ps self-branding model. International Journal of Entrepreneurial Behavior Research, 22(1), pp.155-174. Salam, A., Inam, S.G. and Awan, W.A., 2015. The Impact of Marketing Mix (5 Ps) Elements on Sales of UPS: A Case of Karachi Market-Buyer's Perspective. Journal of Business Strategies, 9(1), p.51. Tapp, A. and Spotswood, F., 2013. From the 4Ps to COM-SM: reconfiguring the social marketing mix. Journal of Social Marketing, 3(3), pp.206-222. West, D.C., Ford, J. and Ibrahim, E., 2015. Strategic marketing: creating competitive advantage. Oxford University Press, USA.