Assignment Sample BU7717 Digital Marketing Strategy and Planning
This research report addresses the digital business performance of GlaxoSmithKline by searching various phases of the operational activities of the company in respect of digital business strategy. However, digital technology has become a core competence that ensures the excellent performance of any company. The report addresses internal factors of GlaxoSmithKline to have approached a better understanding of the adoption of digital technology and it also refers to the implementation of a digital strategy that can help the business to proceed with its success path. However, the report also shed light on different factors such as digital tools and indicators to measure the success of certain businesses.
GlaxoSmithKline is recognized as a healthcare company located in the UK. It manufactures vaccines and transformational medicines for patients. The business deals in the UK and all over the world. It produces innovative health-oriented commodities, vaccines, and medicines for millions of patients throughout the world. The core business of the company is the pharmaceutical business (Holman,2020). http://BU7717 Digital Marketing Strategy and planning have found that the company has occupied its leading position in the sector of HIV and the respiratory system. In the present context, the company has concentrated to focus on its R&D strategy on human genetics and immunology systems. It accesses nearly 158 countries all over the world and occupies the title of no. 1 vaccine company. It also has come under the scanner for fraudulent cases in respect of health care products.
SWOT analysis of the company
Identifying the digital business strategy of the company it requires explaining the internal analysis of the company and thus a SWOT analysis has been approached in the report for a better understanding.
|● Occupied competitive advantage in the global market
● It approaches customer-centric innovations based on science (Rono 2020)http://BU7717 Digital Marketing Strategy and Planning
● Gain leadership in the segment of oral health
● Approached a global marketing and sales structure
|● The brand image of GlaxoSmithKline is being affected due to the bribery charges and the settlement of the US regarding the health care issues|
|● It has opportunities to sustain its growth in the sector of vaccine business
● Geographic and economic trends are favorable for the company
● Growth opportunities in the sector of HIV and respiratory-oriented disease
● By awarding of health care needs it can lead the position in the emerging market
|● High competition from the Generic drugs
● Pressure of cost containment can be a major threat held due to controlling the pricing of drugs
● Several challenges in emerging market
Current digital adoption of the GlaxoSmithKline
GlaxoSmithKline is a renowned leading pharma business that has approached digital technologies to accelerate the speed and innovations in the business and lead its pharma business into the global market. After thorough studies, the data reveals that GlaxoSmithKline has approached big data technologies so that it can help them to improve the way of drug discovery (Mackey and Cuomo,2020).http://BU7717 Digital Marketing Strategy and Planning At the same time, the prior motto of the company is to promote a shortened period for the development of drugs. Furthermore, Mark Ramsey has become the first main data officer for the company which helps them to have approached a data-centric process to deal with its business activities. However, the company has succeeded to resolve the berries of data flow due to data silos with the help of Ramsey who refers to the use of Artificial Intelligence and Machine learning. However, it helps the company to achieve its digital goals.
At the same time, the data also refers that the company has built the analytics platform. Similarly, Spark and Kafka have also included an array of digital technologies on behalf of the company that controls the operational activities of different vendors. However, the data integration technology has been accomplished by the StreamSets which are considered the Cloudera partners (Schumacher et al. 2020).http://BU7717 Digital Marketing Strategy and Planning, On the other hand, machine learning curation of data has been provided by Tamr technology. Apart from this, the research data has also revealed the factor that GlaxoSmithKline has adopted Zoomdata and AtScale technology of virtualization for the visualization of data for its business purposes. In the present context, it has been found that GlaxoSmithKline integrated analytics technology in the area of cloud computing in respect of the R&D platform of information. However, with the help of these technologies the company has succeeded in reducing the amount of time that needs to accommodate multiple data from different clinical trials. However, the company has experienced that they can do the work within a few minutes that they have completed in several months. It has provided them to approach more innovations in manufacturing drugs and vaccines for multiple patients across the world. At the same time, Artificial Intelligence has appeared as the major aspect of digital technology that has been adopted by the company and the prior objective of the implementation of this certain technology is to speed up the discovery of drugs for the company so that it could lead the competitive advantage in the sector of pharmacy business in the global market. Apart from this, with the help of AI, the company has been involved to identify the new target market for the potential medicines they have introduced in the market. Furthermore, the research data has also revealed that the company has also approached blockchain networking so that they can implement the chain of supply management for a better way of business (Stephenson et al.2020).http://BU7717 Digital Marketing Strategy and Planning Through the application of blockchain technology, the company has succeeded in managing the manual time-consuming factors as certain technology has approached a decentralized data approach and consists of immutable audit trails that access data within a few seconds.
Effective digital business strategy to increase the competitiveness
Users need to update
An effective digital strategy has become the core competence of the business that helps the business to lead a competitive advantage. It plays a significant role to enhance the flexible changes in the business as per the market demand in the present context. However, the persona of customers needs to be approached in digital business strategy so that it could help to identify the potential customers for the marketing management of GlaxoSmithKline. By reviewing the annual target market report of the company, the managers can collect some important data relevant to the buying behavioral approach of the target customers of the company. Thus, the company needs to approach a cross-functional team with excellent leadership so that the digital activities can be processed by easily. At the same time, the managers of the company need to access visiting tendency of customers and can conduct the appropriate interview with stakeholders with the use of real data and research of the market
Web analytics should be used
The company needs to use web analytics such as Google Analytics to assess the buying behavior of customers and can also access the details of entering and exiting the website page of the company (Queiroz et al. 2020).http://BU7717 Digital Marketing Strategy and Planning However, it helps managers to have a full understanding of the current tendency of the target market and they can implement the right strategy to integrate and mitigate their desires. In this context, a collaborative and cross-functional team can synthesize certain efforts.
Marketing goals need to refresh
The marketing managers and the operational managers of GlaxoSmithKline need to comply with the refreshment of strategic goals and need to plan the strategy according to the current needs and future market trends in the sector of pharma business. As the company desires to lead over the competitiveness it requires setting up such goals that are working. In this context, the management of the company needs to focus on the implementation of SMART goals so that it could align with the current and future trends of the market in the sector phrma business (Barmuta et al. 2020).http://BU7717 Digital Marketing Strategy and Planning At the same time, the company also needs to approach an evaluation of all repeated tasks and can count the amount of time taken by employees so that they can measure the performance and can also access the implementation policy for good employee performance.
Selection of an exclusive leader
The selection of leaders is an important element that should be focused on by the company as they play a crucial role to enhance the competitiveness on behalf of their company. The management of GlaxoSmithKline also needs to pay attention to the selection of the right authority in the digital sector. The main digital officers need to be experienced and humble so that they can sustain the working culture, and corporation and can also manage the cross-functional activities of the digital team of the company.
The flexible strategy of the business is important for the digital business strategy that refers to enhancing flexible changes in the strategy so that it could be able to mitigate the present and future trends of the market. In this context, the managers need to account for the feedback of customers by using different technologies and need to accept the changes that help to achieve market competitiveness for the company (LESTARI et al. 2020).http://BU7717 Digital Marketing Strategy and Planning Customer-centric data flow can be included in the digital business strategy so that the company can be a leading company in the sector pharma business all around the globe.
Discussions and applications of a strategic analytical tool that is expected
The modern trend of the market refers to the tendency to integrate millions of places and people at once. Therefore, several digital marketing tools such as email marketing, content creation, display retargeting, programmatic advertising and many more are there that can save time and money on behalf of the company. However, the management of GlaxoSmithKline also expected such analytical tools to access reliable data so that they can ensure a maximum range of competitive advantages in the global market. Here is describing such tools that can be expected to enhance the digital business strategy of the company.
Social media management tool
It is expected that companies can use the social management tools such as Facebook, Instagram, and Twitter Which appear as the greatest platform to integrate millions of people at once. So therefore it can be the best way to access the social media tool to connect with massive people and can access the target customers (Marete et al. 2021).http://BU7717 Digital Marketing Strategy and Planning It has been found that sprout social media is working behind the social media manager that generates an engagement platform for the business to integrate with their target customers. In this context, GlaxoSmithKline can approach the target platform and can have the opportunity to integrate a large number of people. However, it will help them to identify and determine their target audience.
Paid social media tools
Paid social media can also be the expected analytic tool that the company can include in its digital business strategy that helps the company to get its brand to a large number of users. The company can also approach Nanigan, a software analytical tool that allows them to have a multichannel advertising scope. Facebook retargeting and Facebook marketing can be accessed through this analytical tool so that the company can target its future customers with more efficiency (Ukoha, 2020).http://BU7717 Digital Marketing Strategy and Planning, On the other hand, the Facebook power editor can also help the marketers of GlaxoSmithKline to run hyper-specific campaigns for advertising. At the same time, Facebook continually improves its technology to develop the advertising platform. However, it helps them to access new features of budgeting and targeting their customers.
Email marketing tools
HubSpot Email marketing can also be recognized as an analytical tool that can use by the company to improve its digital business strategy. It’s CRM and inbound software of marketing can help the organization to score a huge amount of profitability and competitive advantage. At the same time, the CRM appears with a free plan that can be able to send nearly 2000 emails to customers every month based on the customer list. It has approached a redeemed template of emails so that it can send to a maximum number of receivers. It helps the company to establish direct marketing with their customer
Display retargeting tools
Retargeter is recognized as the analytical tool that can be approached by the company to develop their digital business. The prior role of this analytical tool is to identify the retargeting customers on behalf of the organizational privileges. With the help of this tool, the company can access the behavioral data of its customers.ad roll is another software that could be expected technology by which the company can comply with costumes-based advertising on a large scale.
2. The business performance of the management of the GlaxoSmithKline
The management of GlaxoSmithKline has approached several business strategies and operational activities that can manage organizational performance. However, the company has approached 3 global businesses such as research, innovation, and the manufacture of pharmaceutical medicines for better treatment of millions of patients across the world. The prior objective of the company is to maximize the quality of medicines to enhance the health care system that can provide a healthy life to millions of patients all over the globe. However, the management of the organization has paid attention to increasing the investment in research work so that it could help them to access innovative medicines for patients worldwide. At the same time, they pay attention to strengthening their R&D pipeline by focusing on advanced technology, human genetics, and immunology. However, it helps them to deliver transformational innovative medicines (Rono, 2020).http://BU7717 Digital Marketing Strategy and Planning
At the same time, the managers are also paying attention to the generation of capital for the business by shareholder returns and investing more capital in the R & D pipeline. It would help them to develop the sector of oncology that has approached 39 innovative medicines and 15 vaccines. With the help of pivotal studies and sic readouts that illustrate the positive approach for the innovation of medicine. The managers are also involved in enhancing the combination of insight of customers and science.
Critical discussion of business performance management tool
There are several tools such as planning and budgeting, key performance indicators, and balanced scorecard tools are required for the company to enhance a high range of competitiveness. Here is describing such tolls that require by the company
Planning and budgeting are the most widely approached BMP that refers to the set of the budget of business for the next following year. Through this company can plan the overall budget program for the next twelve months (Khotsa and Sebola, 2020). http://BU7717 Digital Marketing Strategy and Planning
Balance scorecard has approached such a useful strategy for the company that refers them to develop their objective according to financial needs. At the same time, with the help of this tool, the managers can sustain their performance by enhancing their objectives based on customers’ expectations.
Key performance indicators to measure its performance should also be provided
|Conflict||Minutely following the business plan and strengthening communication within the organization can mitigate conflicts|
|Risk||Identification and finding control for the upcoming situational hazards can mitigate the risks|
|Contingencies||Letting the employees know every detail about the business plan through communication and providing proper trains to the employees can be useful in managing contingencies|
|Operational Performance||Letting the employees understand the goals and objectives of the plan along with measuring their performance monthly can be effective in managing operational performance|
|Creating the Idea||Feasibility of the idea with respect to the market|
|Setting the objectives||The objectives are well aligned with the main idea|
|Planning on products and services||The products and services are balanced with the present consumer trends and demands|
|Acquisition of licensing||Appropriateness of the licensing in the legal context|
|Value proposition||The measures of how the products and services are offering value to the market|
|Scanning the environment||Effective understanding of the threats, weaknesses and opportunities in the associated market|
|Developing marketing strategies||Utilisation of the modern digital and online platforms as the marketing strategies|
|Profit and Loss forecast||Alignment with the actual profit and loss in the monthly revenue|
|Cash flow forecast||Effectiveness of the financial resources in mitigating financial needs for the new plan|
|Balance sheet forecast||The previous income is less than the present income of the company|
|Performance Evaluation and Control||Production level is higher and of standard quality|
Share KPI management and Implementation process
- Analyse the revenue as per clients.
- To keep a check on the average workforce.
- To generate the client retention rate of the consumer.
- Check the profit margin and function accordingly.
Obtain feedback for continuous improvement
Proper feedback is the analysis of the customer queries and improves according to the consumer. The input gives various improvements to the company and quality of healthcare benefits.
Critical evaluation of big data technology and the explanation of the use of this technology by GlaxoSmithKline to enhance the business performance
Business intelligence refers to the technological process for data analysis about the formation of a business. It helps in making business analysis, undermining the detail of dealing and transactions associated with business, and finding value propositions by analyzing big data (Popovic et al. 2019). http://BU7717 Digital Marketing Strategy and PlanningGSK is a renowned retailer, based in London, England, and specializes in selling clothes, food products, and home products since 1884, has been subjected to the analysis of this paper. Business intelligence is the implication of software, with which the power of data associated with business excellence can be harnessed and adequate measures can be taken in developing organizational strategies.
GSK, as it deals with a variety of products, follows business intelligence to ensure increased productivity, improvement in revenues, and enhancement of growth in its business. The adoption of business intelligence, on a whole, helps in analyzing data, solving company-specific issues by making a proper evaluation of the situation and dealing, enhancing communication skills, developing and increasing company-specific knowledge, advancing the vision and mission of the company, and enabling business procurements (Laudon and Laudon, 2018). http://BU7717 Digital Marketing Strategy and PlanningHence, the paper depicts the business excellence of GSK by making proper execution of business intelligence and the competitive benefit it received with help of this business implication.
Analysis and Evaluation of Business Intelligence of GSK
This helped in enlarging the brand awareness of the company and helped in attaining competitive benefits. Furthermore, the organization faced obstacles in expanding over the countries and other dimensions as it confronted environmental challenges. Analyzing the business trend, the tendency of people, and their impact on the environment has helped the company develop strategies to get suited to the demand of the situation and be indulged in the target location (Toms and Zhang, 2018).http://BU7717 Digital Marketing Strategy and Planning It further helps in understanding the time bond, legal accuracy, and demand of the situation to undermine technology for the requirement.
The organization has been confronted with challenges in imposing quality control on every section it attempted to offer services. In adopting the technology associated with Business intelligence and information, GSK has faced severe criticality in inbuilt centralized process management (Jin et al. 2018).http://BU7717 Digital Marketing Strategy and Planning However, adopting appropriate technology for the reinforcement of business activities has made business operations easy and accessible. It helped in making proper utilisation of the resources, restricted abuse of work, reduced work pressure, helped in saving time, made the best utilisation of organisational resources and time.
The adoption of business information and intelligence technology has enabled the use of macro strategy in calculating risk associated with the company and helped in a great financial benefit to the organisation. GSK with the Spotfire tool of BI has been able to make quick decisions associated with employee selection, select the best deal and make business strategy. However, the organisation is a leading brand at the onset of the wholesale retailing industry; its managerial decision incorporated with BI tools helped it gain proper decision-making strategy (Puklavec et al. 2018).http://BU7717 Digital Marketing Strategy and Planning GSK has been observed selecting long and short time strategies to enlarge its productivity and attain several audiences.
With the analysis of the business tools, the organisation has addressed the promotion of products as a strategy to reach the target audience. Hence, the company management has decided to promote a buy one get one offer for a certain time with its food products. With help, this organisation can be benefited from the acknowledgment of its products to an enlarged division of customers. The implication of BI has helped the organisation compare its product offer and price with existing companies and rival companies (Jin et al. 2018). http://BU7717 Digital Marketing Strategy and PlanningTherefore, providing the offer for buy-one-get-one has evidently helped the company gain benefit competitively from the rival companies.
BI inhabitation to a company and its installation is highly expensive. Hence, it is a primary concern for multiple companies to predict the future of BI as the technology associated with the business implication is frequently changing (Arnott et al. 2017).http://BU7717 Digital Marketing Strategy and Planning In terms of addressing the prospect of business intelligence, it has been undermined that the implication of BI is much stronger in the future, which is expected to be even more automated and utilised aggressively.
To conclude the paper, the identification of issues associated with BI and recommendation to those that have been mentioned. Business organisations, though, impacted with an outrageous impact of BI, often face issues associated with the adoption and acceleration of BI techniques. Due to a lack of strategy in enabling the best utilisation of BI, GSK has undergone inaccuracy and less than margin productivity. Insufficiency of training and knowledge sharing has been identified as the reason for this.
Hence, being potential with resources of experience and on-ground activities with the implication of BI has been pointed as a solution to GSK. Sharing knowledge on the constraints and challenges regarding the manifestation of this technology might help resources guide the best use to incorporate with this technological adoption. On the other hand, developing a suitable structure to support infrastructure for BI efficiency is an eminent requirement of the company to incorporate the business as its highest spec to the online platform.
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