Discuss About The Journal Of Strategic Engineering Management?
Commonwealth Serum Laboratories Limited is a company with a global specialty in biotherapeutics which concerns itself with the development and delivery of innovative biotherapies essential in saving lives through assisting people living with threatening medical conditions (CSL 2017). In this respect, it involves itself in products such as plasma, vaccines and pharmaceuticals, research and development in the medical world. The firm has facilities spread in the United Kingdom, Switzerland, Germany, Australia, and the United States. Basically, it has an employee population of over 17000 who are spread in over 30 countries where its activities are coordinated. The report focuses on its marketing aspects and the manner in which it spreads its products to the competitive marketplace.
The firm deals with the healthcare sector with the provision of products aimed at saving lives which enable thousands of people in the world to live normal and healthy lives. Seqirus involves itself in the manufacture, licensing, marketing and distributing vaccines aimed at preventing and treating serious diseases (CSL 2017). In this sub-category, the firm deals with the development of plasma-derived therapies, pharmaceuticals, diagnostics products, vaccines, and antivenoms. Plasma derived products are used in treating infections, bleeding disorders, treatment of patients in critical care setting, and autoimmune diseases (CSL 2017).
On the other hand, the vaccines are used in inducing immunity towards the protection of people against sets of bacterial and viral infections. Antivenoms are used in the treatment of venomous spider and snake bites. The diagnostics products are essential in determining compatibility of donor- recipient blood transfusion programs. The range of pharmaceutical products is used in treating human health conditions where the products remain in distribution under the licensing of the respective companies
CSL engages in several activities in remaining sustainable in the competitive market. Sustainability in business comes in through meeting the economic, social, and environmental needs of a society and business. The firm prides in assisting the society through remaining in contact and enabling them solves their challenges amicably (CSL 2017). In this respect, the firm supports communities through donation and active participation through engagement, where it builds healthier and sustainable environments for individuals (Armstrong, Kotler, Harker, and Brennan 2015). The firm engages in solving environmental problems which result into health complications through advocacy programs and activism.
On the other hand, the firm remains true to the environment by developing, manufacturing, and supplying safe and high quality products aimed at saving lives and improving the well-being of individuals with serious diseases. The firm ensures the production and safe disposal approaches that assist protect the environment and local communities in operation areas (CSL 2017). The firm creates economic opportunities to better the people and individuals in areas of operation.
In this respect, the firm employs several individuals to its business, including; researchers, lab officials, management, suppliers, and marketers. All these drive the profitability of the firm. The local community in areas of production benefits from the corporate social responsibilities offered by the firm which empower the locals economically (Pavlou and Stewart 2015). Empowering people economically translates to the overall production and profitability of firms thus enhancing sustainability for the firm.
The firm serves a large market in the health sector industry across the world. The target segment includes people in the hospital fraternity, dispensing chemists, diagnostic organizations, health ministries through vaccination programs, and general drug field through its distribution of pharmaceuticals (CSL 2017). The target clients remain closed to the health sector where a number of organizations and government bodies compose of its client base.
The firm with several outlets across nations positions its products strategically towards its success. The firm, having targeted its consumers places its products strategically in locations and areas in need of the medical products (CSL 2017). In so doing, the firm markets and advertises the products directly to institutions of research, medical facilities, and pharmaceutical suppliers. The type of promotion assists in reaching the desired market as opposed to a random placement of a product. At the same time, the firm participates in social responsibilities touching on the healthcare needs while using part of its products through donation and assistance thus ensuring knowledge of the products to the consumers.
At the same time, the firm collaborates with other suppliers dealing in medical products thus reaching the largest batch of clients. Partnership ensures products remain in visibility as suppliers assist in marketing it to the customers experiencing the sales. Besides, it assesses its competitors and their areas of coverage and uses the information to design a special placement that puts it on the higher side (CSL 2017). After assessing the competitors, the firm uses the information to venture into areas not earlier inhabited by the said competitors. In the long run, their products remain visible to the consumers thus growing their brand name.
The products are made and designed to last and assist individuals in the society. The key features and policies put in place assist the firm remain competitive in the long run. First, the firm ensures high quality in production where the materials are sourced from ethical sources (Leonidou, Katsikeas and Morgan 2013). The strategy forms the first base for quality which is accompanied by a quality production through raw materials that adhere to the environmental standards.
The packaging is done using environmentally friendly products whose components are mentioned therein. The labeling is done professionally to avoid confusion as it discloses every detailed information in bold based on the requirements in the industry. The designs are unique and easily differentiable from the rest. In this case, it becomes difficult for individuals to duplicate or counterfeit the product thus limiting unnecessary competition (Hanssens, Pauwels, Srinivasan, Vanhuele and Yildirim 2014). The design and material used remain unique and significantly of high quality.
The production is done under proper environment whose specifications are disclosed and in line with the environmental policies under the labor laws. The workers use and adhere to the safety procedures and undergo training to ensure safety at workplace. The products are manufactured using high quality materials according to the standard procedures laid down in the industry.
The firm has a sustainable and cost-effective supply chain management. Since the business distributes its products to a wide range of areas, intensive distribution remains best as the products go along the routes. On the other hand, the in-direct supply chain is used where large supply management firms are used to deliver products to the clients. The products are tracked during the supply process which ensures a speedy and accountable system essential for business growth (Christopher 2016).
The firm has a sustainability system where it caters for the environment and the well-being of the users and manufacturers. The products are made in a safe environment, with a high quality, and safety standards. The products are tested to ensure fitness for the public consumption. Such considerations reduce the side effects and complaints registered by individuals. On the other hand, the company has a set of disposal guidelines for the products it produces, and communicates the same to its suppliers (Hollensen 2015). Besides, it makes sure that the suppliers and other groups adhere to the same and file agreements to the safe and ethical disposal considerations.
Quality is key in enhancing sustainability of any process in the manufacturing field. In all the key decisions, quality remains a core factor in ensuring things go well and acceptability in the market. The features used in the production, as well as the materials ought to be of high quality. The labeling and packaging must be clear and efficient and environmentally friendly to remain acceptable by the consumers. The design and materials used therein must be of high quality and efficient to retain profitability. Quality is paramount in attaining a significant market share and outshining competitors (Monczka, Handfield, Giunipero and Patterson 2015). In this respect, the firm maintains a sustainable business concept essential for prosperity.
On the other hand, the supply chain management remains effective and cost-based to ensure sustainability. According to Bovée and Thill (2014), using expensive supply chains results in losses which affect the pricing policy of the firm. Lastly, the firm’s consideration for consumption and disposal is essential towards sustainability. Enabling a proper standard in the manufacture and subsequent disposal programs after use ensure little conflict with the government agencies keen on the environmental considerations in the present times (Mangan and Lalwani 2016). Therefore, placing all these considerations leads to not only business sustainability but a growth in the client base.
The firm selects its prices based on market situation after conducting a study on its competitors. Thereafter, the firm arrives at a price less than the competitors in the initial stages but then alters the same with respect with the client preference based on quality (Singh, Singh, Pandey, and Pandey 2015). On the other hand, the purchase of two or more brands or range of products attracts a discount channeled to individual suppliers and end users. Product prices are adjusted basing on the demand and supply scenarios following a subsequent discount price upon formulation. Sustainability is enhanced through pricing through the constant adjustment to reflect on the client demand and suggestions (Klassen, Lisowsky and Mescall 2017). Again, the quality standards of the products assist the prices in remaining competitive and all time profitable to the company.
The firm promotes its products in several ways in marketing and increasing its product scope. The company uses the social media presence where it runs several accounts on the social media. The firm, through its Facebook pages, Twitter, and other social sites announces new product release, markets existing products, and carries out subsequent research and surveys on the suitability of its products (Liu, Li, Peng and Zhang 2015). The social media gives it a direct marketing to medical institutions, governments, and the general public running private medical services, thus growing its business and remaining sustainable. The firm has a website where its range of products is displayed and necessary contact and customer support offered to meet the needs of the clients (Percy and Elliott 2016). Further, it uses the direct links on the social media to redirect its clients to the main website, where subsequent business deals can be handled.
On the other hand, the firm conducts product giveaway in meeting the medical needs of patients in less privileged areas. In so doing, the firm donates the plasma products in assisting patients with life-threatening illnesses. In so doing, the firm promotes its products and the overall business name, thus growing its market segment (O’guinn, Allen, Semenik, and Scheinbaum 2014). On the other hand, it uses direct mail marketing to the customers that have made subsequent purchases, thus strengthening and increasing information on the new product formation and product development (Khan 2014).
Branded promotion bags are used in its promotion, where the pharmaceutical products are carefully packed to reflect the name of the firm, thus doing it good in marketing terms. After-sale customer survey is another means through which the firm promotes its products. The company maintains a close contact to its clients where they periodically seek information on the use of the products and feedback on the necessary things to be done according to client experience.
Distribution refers to the effectiveness of a firm to get its products to consumers at the right time and in right proportion. The firm has a wide outlet for its products and thus selects a proper distribution channels to make sure the products reach the end user in a cost effective and safe manner. The firm sells both directly and indirectly to the consumers depending on the location and company for distribution. First, the firm uses direct distribution to the large firms conducting direct business with them. In this respect, it recognizes the location factor and the cost-effective manner in which the firm would reap benefits while remaining sustainable. On the other hand, the in-direct distribution occurs in cases where products are to be shipped overseas, considering the location and the complexities involved in direct shipping. Direct shipping of small commodities becomes difficult as it is costly and involving.
In this respect, the firm selects a worldwide distribution channel that seems reliable, cost-effective, and efficient (Radulescu 2016). For instance, the product might be going to different locations, where the firm lacks outlets, thus becoming efficient to use the in-direct means of distribution. Since the firm is large and serves a diverse population across the world, the use of the distribution channel remains effective and efficient. Thirdly, the firm uses intensive distribution since it has a mass market for its products. The strategy is effective in covering the large areas and ensuring the consumers receive products on time and the desired quantity.
CSL Group has a number of competitors in the healthcare sector which includes Hemacore Corporation, Seracare Life Sciences, Sanofi, and Baxter International Inc. the firm manages to remain competitive through several strategies that promote its brand name and recognition (Huang and Sarigöllü 2014). First, the firm has been in existence over a century, which has boosted its capability to receive great recognition due to its trust levels. On the other hand, the firm has used several strategic marketing tools over time which has made it remain competitive while offering the products (Neugebauer, Figge and Hahn 2016). Besides, the capability to produce the three segments of products within the firm in different locations makes it a one-stop location preferred by many individuals. Businesses would prefer to deal with a partner who has all the required commodities thus giving the firm a competitive advantage over the rest.
The firm uses the key marketing mix features to remain competitive in the healthcare sector. First, the firm prides itself in the creation of superior and safe products that appeal to the market. Creating superior goods assists in growth of brand name and trust levels thus offers the business an upper hand over its competitors (Spiegel, Linke, Stauder and Buchholz 2015). Secondly, the firm uses a strategic pricing policy which includes discounts, bundled prices, and price offers which appeal to the market. For instance, consumers in need of products from more than one of its categories enjoy a discounted price.
As such, it encourages a culture of referral and return clients, who instill a positive progress to the business. In this respect, it manages to increase its business scope in the health sector. The place factor plays a huge role in marketing and enabling competition with other firms. As a firm with offices across nations, its products remain in strategic placement thus marketing and increasing consumption of the same. The firm sells its products to over 70 nations, thus maintaining a high profile name which promotes and commands a significant market share for the products. Lastly, the firm uses special promotion tools such as the social media, company website and direct engagement with the clients. Since other firms fail to properly market their products, it becomes difficult to compete with the firm that has been in existence over a century. The rivals remain limited in their promotional strategies thus unable to cover a wide range of clients.
CSL group is determined and quality oriented, thus enabling a sustainable business practice. However, there is a need to tap to other isolated markets in other continents which remain in need of the products developed by the firm. There is a need to further the marketing efforts in opening the business to the world in the wake of globalization. Expanding the distribution channels would ensure an in-depth penetration to the market segment in other locations. At the same time, quality and proper disposal policies must be done to ensure a good name for the product even in its distribution channels. Careful choice of the partners has to be done to reflect the quality set by the firm. Placing the considerations in priority would uplift the operations and sustainability of the business in the ever-increasing health care needs.;
References
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