MAR027-2 Employability Project Assignment Sample
Here’s the best sample of MAR027-2 Employability Project Assignment, written by the expert.
Introduction
Business marketing is viewed to be one of the major areas that come out significantly for the purpose of competitive advantage in various business organizations. I play role of marketing manager in the organization of Glaxo SmithKline of the United Kingdom, which is one of the most popular pharmaceutical industry in the United Kingdom. I want to undergo the given opportunity for getting a better viewpoint of the varying marketing policies and the factors that influence the selling of newly launched products in the market. The element of effective understanding is related to the project work, planning, management and the implementation that would help me to escalate the chances of employability in future. GlaxoSmithKline is a well-established pharmaceutical company in the United Kingdom that has its root spread across other regions in the world.
Among the other options, I will undergo the product launch strategy and its effective analysis as a part of this project. It would help me to understand the marketing process in a lucid manner for boosting the sales of the upcoming product. Launch of a new product will provide a competitive advantage to GSK and it will contribute in managing the integrity of the customers. Hence, it can be said that a detailed investigation regarding the responsibilities of clients and agency, analysis of the new product that would be launched in near future, evaluation of the available potential risks associated with the Organization of the GlaxoSmithKline and mitigation of the actions as a part of the undergone project has been considered essential.
PART 1
Task 1: Client and Agency roles
The prime and the most important task for a company while launching a product is to do thorough market research and end to end analysis to check the requirement and acceptability of the new product. As per Brace (2018), the project here is based on market research for the launch of a new product. The company here is GSK, who is one of the pharmaceutical giants of the United Kingdom and has a strong presence in the worldwide medicine market. The market study is about a new medicine of cancer that the company is about to launch in the worldwide market.
Stakeholders – The major stakeholders of the new medicine that is to be launched by GSK are the suppliers who will provide the raw materials and the suppliers who will deliver the medicines to the respectable destinations. Rather than the consumers, the medical research institute, employees are also key stakeholders of the organization.
Agency and client roles –
Agency roles – As per Erickson (2017), the agency are the third-party sellers who will sell the product. They need to promote the medicine properly to make it popular amongst the consumers.
Client roles – The major clients are the patients who are a prime aspect of the revenue generation of the organization. So their buying role is very necessary for this new product.
Project manager’s role –
The project managers play a very important role in acquiring the prime resources that will be beneficial for the project. As per Denault (2017), they are key players of building the team and the prime motivators to ensure a safe and a product with high market value. They need to provide a proper vision to the people responsible for the project and should be able to fight any issues that are arising and should be able to cover any issue with a proper resolution.
Task 2: Briefing document
Problem statement – The primary problem statement is the launch of the new medicine which is a completely new venture in the field of Cancer medicine for GSK. The issue needs to be handled very efficiently so that the new medicine and the brand name of GSK are well maintained.
Measurable objectives to deal with the problem
The new product is the launch of a new venture of GSK. As per Šerić, (2018), the measurable objectives that will derive the issues are the proper cost allocation of the project which will have subparts like the costs related to the research and development, the cost of the resources, the cost of the medical team that will be doing the research. This will be followed by setting the price which will include the stakeholder’s shares and other multiple derivatives.
Information related to the new product
The primary information is that the product is a completely new venture of GSK in the cancer medicine industry. As per Zhgulev, (2018), the medicine that GSK is planning is announced to be able to not completely cure but take good control till the third stage of cancer which the company is aiming to achieve in the research and development.
Key Performance Indicators (KPIs)
The below mentioned points are the key performance Indicators that will measure the impact of the launch of new product to client. The points can be discussed as-
- Loyalty of Customer Base.
- Profit generation as a cause of launch of the new product
- Customer satisfaction and their positive feedback
- Net growth in the sales of GlaxoSmithKline
- Annual Revenue Of GSK
Continuation of the Documents
- Organization Overview
- Work breakdown Structure
- Project Presentation- Risk Registrar and data
- Scheduling and overview of the project- Gantt Chart
Reference List
Denault, J.F., 2017. The Handbook for Market Research for Life Sciences Companies: Finding the Answers You Need to Understand Your Market. Taylor & Francis.
Erickson, G.S., 2017. New methods of market research and analysis. Edward Elgar Publishing.
Šerić, N. and Ljubica, J., 2018. Market research methods in the sports industry. Emerald Group Publishing.
Zhgulev, E., Bozhuk, S., Evdokimov, K. and Pletneva, N., 2018. Analysis of barriers to promotion of electric cars on Russian market. Engineering for rural development, Elgava (Latvia), 17, pp.2110-2117.
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