Marketing Plan Analysis and Presentation: Part 2 - Research Template Directions: Using the company and research sources from the Topic 2 assignment as a starting point conduct additional research to acquire information related to consumer behavior, product or service, and price associated with the company you selected. In the "Research Summary" section, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company marketing objectives and business needs. Information to be Researched Research Findings Resource Citation Information Describe the customer segments and target markets. Describe characteristics of the target markets that will affect product/service and pricing decisions. Describe how the company differentiates its product and positions its brand. Describe a consumer buying behavior model for this company and brand. Describe the product mix. Describe the product lines. Describe the service processes. Discuss physical evidence of service service scape, and ambiance. Discuss the roles of company employees in service delivery Define the company's pricing objectives and discuss whether the objectives are profit- or sales-oriented. Provide an example of current company pricing strategies. Describe pricing tactics (discounts, etc.) that are used to drive short-term demand Research Summary: In 250 words, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company's marketing objectives and business needs. Part 2: Create a 15-20 slide PowerPoint presentation that summarizes your marketing plan analysis based upon the research you have conducted. Slides should address each of the key areas listed below and should include speaker notes that explain how the company could have used what it learned about consumer behavior, product or service, and pricing to help it develop a marketing plan in order to meet the company marketing objectives and business needs. Include a slide at the end of the presentation to cite your research sources. Company Background: 1. Company name, vision, and mission. 2. Company marketing objectives. Consumer Behavior: 1. Describe the customer segments and target markets. 2. Describe characteristics of the target markets that will affect product/service and pricing decisions. 3. Describe how the company differentiates its product and positions its brand. 4. Describe a consumer buying behavior model for this company and brand. Product or service: 1. Describe the product mix. 2. Describe the product lines. 3. Describe the service processes. 4. Discuss physical evidence of service, service scape, and ambiance. 5. Discuss the roles of company employees in service delivery. Price: 1. Define the company's pricing objectives and discuss whether the objectives are profit-or sales-oriented. 2. Provide example of current company pricing strategies. 3. Describe pricing tactics (discounts, etc.) that are used to drive short-term demand. LE GRAND CANYON UNIVERSITY Marketing Plan Analysis and Presentation: Part 2 - Research Template Directions: Using the company and research sources from the Topic 2 assignment as a starting point, conduct additional research to acquire information related to consumer behavior, product or service, and price associated with the company you selected. In the "Research Summary" section, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company marketing objectives and business needs. Information to be Research Findings Resource Citation Information Researched Describe the customer segments and target markets. Describe characteristics of the target markets that will affect product/service and pricing decisions Describe how the company differentiates its product and positions its brand. Discuss physical evidence of service, service scape and ambiance. Discuss the roles of company employees in service delivery. Define the company's pricing objectives and discuss whether the objectives are profit or sales-oriented Provide an example of current company pricing strategies. Describe pricing tactics (discounts, etc.) that are used to drive short-term demand Research Summary: In 250 words, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company's marketing objectives and business needs. Describe a consumer buying behavior model for this company and brand Describe the product mix. Describe the product lines. Describe the service processes. 2019. Grand Canyon University. All Rights Reserved. 2 GRAND CANYON UNIVERSITY Company Vision: Offer the Patients with the products they value most and help the partners succeed through the flexible supply chain and services. They want to impact millions of patients by empowering their people to act with agility and to do what is tough and worthwhile." To be India best Pharmaceutical company that accelerate access to affordable and innovative medicines because Good Health Cannot Wait. Marketing Plan Analysis and Presentation: Part 1 Directions: Visit the website for the company you have selected and obtain a copy of the annual report. Locate three to five additional resources that will provide data and information related to the brand story: the company vision, mission, and marketing objectives, and strategies and tactics the company is currently using to meet the marketing objectives. You will also use this infomation to complete a SWOT analysis. Apply your research findings when completing each item below. Company Mission: "The mission of the company is to improve the Quality of life and life expectancy itself. This requires good science but for science to be good it has to result in affordable medicine." Company Marketing Objectives: As of 2020, there are several marketing strategies like product service innovation, marketing investment, customer experience etc. which have helped the brand grow. Building a global generic business and increasing geographical expansion is always the best marketing objective for Dr. Reddy's. Company Name: Dr. Reddy Laboratories Ltd. Brand Story: Dr Reddy's Laboratories was established in the year 1984 as a pharmaceutical sector in Hyderabad, Telangana, India. Dr. K Anji Reddy was the founder of Dr. Reddy s Laboratories. He was a Scientist, philanthropist and entrepreneur and his passion for drug discovery and his pioneering contributions for making medicines affordable are legendary. In 1986 the company outsourced its first consignment of Methyldopa drug to West Germany and received worldwide popularity. Deep routed belief that drives Dr. Reddy s is "Good Health can't wait". Their commitment to the slogan and the values of the company go beyond just molecules and medicines. They have a range of programs to help patients manage their disease. They have a Lifestyle support program for cancer patients, Diabetes awareness program, IBD education program etc. Good health is always the goal of Dr. Reddy s and they believe that medicines are not just molecules, but they are also mean to help patients regain their health. Their belief is guided by principles - Empathy and Dynamism - which provide both guidance for their current behaviour and inspiration for the future actions. On 11 April 2001, Dr. Reddy s became the first pharmaceutical company from Asia Pacific to be listed on New York Stock exchange https://www.drreddys.com/our-story/who-we-are https://www.drreddys.com/media/31332/focus_interview2.pdf Company Marketing Strategies and Tactics: Dr Reddy's supply medicines only when there is a pre-payment or in the form of credit. The cost of generic medicines is kept reasonable because of the operational excellence of Dr Reddy which is one of their marketing strategies. Dr. Reddy has deep, and wide Market reach and they Have 18 manufacturing units, 2 Technology Development Centers and 4 R&D in India. Dr Reddy is trying to make better use of their resources and they are also trying to minimize the carbon footprint of their products. To make their supply chain more efficient they initiated the __*2- intelligent integration? project. They embedded SAP APO and SAP ECC to their existing system with the success of this project they can maintain On Time in Full delivery in all their key markets and clients. Dr. Reddy's Laboratories have a team of sales representatives who directly connect with distributors and the customers. They are trained as per the standard operating procedures. Seminars, symposium, and other customer engagement activities are hosted by the company . The marketing team is constantly in contact with the doctors through doctor meets. They seek their feedback and share the knowledge. The Medical Affairs team answer queries about the products from doctors within 48 hours. The company also engage with its customers and clients through social media like Facebook, Twitter, YouTube. SWOT Analysis: Using the data and information from your research, complete a SWOT analysis for the company Reference and cite the topic materials for details on conducting SWOT analysis. Changing consumer buying behavior from online channel could be a threat to the existing physical infrastructure driven supply chain model. revenue streams and jump into new product category Company has invested vast sum of money into the online platform. This investment has opened new sales channel for Dr. Reddy's Laboratories Limited. In the next few years, the company can utilize this opportunity by knowing its customer better and serving their needs using big data analytics. Strengths Company has low Debt and their per share Book value is increasing and they are efficiently generating profits from their assets. Their Retum on assets (ROA) has significantly increased. Annual Net profit and Annual cash flow has improved significantly for the year Weaknesses They are not very successful at integrating firms with different work culture. Dr. Reddy's Laboratories Limited is successful at integrating small companies it has its share of failure to merge firms that have different work culture. Dr. Reddy's Laboratories Limited has a higher attrition rate and it has spent a lot more compare to its competitors on training and development of its employees. They are not very successful in moving to other product segments as per the market needs. There is lack on choice as there is gap in product range sold by the company which can influence customers in a negative manner. Citation of Sources: Provide APA citations for the company's annual report and the other research sources utilized in completing the assignment. Name of Source Citation Information Google https://www.direddys.com/our-story who-we-are Google http://fernfortuniversity.com term-papers/wot wyse 2038-dr-- redox-s-laboratories limited Google M. E. Porter, Competitive Strategy New York: Free Press, 1980) Google R. E. White, Generic Business Strategies, Organizational Context and Performance: An Empirical Investigation, Strategic Management Journal (1986) Google https://www.drreddy's.com/media 904038/corporate- presentation-2017.pdf . They have a strong distribution market and all their products can reach majority of its potential market. The company with its dedicated customer relationship management department has able to achieve a high level of customer satisfaction among present customers and good brand equity among the potential customers They have outstanding performance in new market, and they are expanding with new mergers. Their activities are automated which is yielding consistent quality Opportunities The new technology provides an opportunity to Dr. Reddy's Laboratories Limited to practice variety of pricing strategy in the new market. It will allow the firm to maintain its loyal customers with great service and attract new customers through other ane griented propositions. New trends in consumer behavior can be a ormaktunits. They can build new Threats Rising of raw material cost is a threat. Imitation of the faked, copied, and low-quality product is also a threat to Dr. Reddy's Laboratories Limited's product especially in the emerging markets and low-income markets. As the company is operating in other countries it is exposed to currency fluctuations which can be a threat in various probabilities