Comparative Marketing Strategies Of CSL LIMITED Company And Mylan

Question: Discuss about the Comparative Study Between The Marketing Strategies Of CSL LIMITED Company And Mylan. Answer: Background of CSL LIMITED Company and Mylan CSL LIMITED deals with the manufacturing of innovative biotherapies; which plays an important role in gifting a new life to the general public. As a matter of specification, the company considers the factors, which might lead to life risk of the customers. In view of this perspective, it can be said that the company operates under the healthcare industry, envisioning the wellbeing of the customers. Typical evidence of this lies in the presence of the outlets in more than 30 countries including Australia, Germany, United Kingdom and United States (Csl.com.au 2017). Dedicated, committed and persistent efforts of 17,000 employees enable the company to abide by the promise delivered to the patients. Innovation, integrity, collaboration enhances the decision-making of the company, bestowing upon the personnel a closely-knit feeling. Herein lays the appropriateness of the name CSL LIMITED Group. This indicates the practice of participative management style, where the Board of Directors, ma nagers, employers and the employees indulge in meeting for upgrading the standard and quality of the business services. Within this, standardized corporate governance is considered as a part of the business in order to add firmness in the shareholder value. The management of CSL LIMITED Company exposes conscious attitude towards the aspects of risk management, Market Disclosure among others (Csl.com.au 2017). On the contrary, Mylan is an Australian based drug manufacturing company, owned by Mylan Pharmaceuticals in United States. Similar to CSL LIMITED Company, Mylan also operates under the healthcare industry. One of the recent steps, which the company has adopted, is alteration of the website name from Mylan to Mylan. One of the main values of the company is One quality standard (Mylan.com.au 2017). The company, through the introduction of supportive policies, ensures the provision of high quality medicines to the public domain. Here, the main focus is on delivering proper access to the people rather than adding to the existing stock. This strategic approach has made Mylan one of the largest generic and pharmaceutical companies in the world. Till now, the company has been successful inmarketing 1400 different products to all of the stakeholders and shareholders. Established in 1961, the company took the determination to serve people of the West Virginia and the adjoining communities in getting access to the required medicines. Consistency has been maintained in the mission till the present times; however, the mission has become firmer in terms of renovating the business services and making them reliable to the stakeholders and shareholders through the means of collaborative output (Mylan.com.au 2017). Like CSL LIMITED Company, the core values of Mylan are innovation, integrity reliability, teamwork, quality service, which enables the personnel to achieve efficiency in the execution of the business activities. Evaluation of the undertaken steps makes the personnel aware of the feasibility, effectiveness and appropriateness in terms of the identified and the specified values. Herein, the tagline, Seeing is Believing seems absolutely justified regarding the approach of the personnel towards achievement of success (Mylan.com.au 2017). Marketing strategies used by CSL LIMITED Company and Mylan in terms of their competitors Themarketing strategies of both CSL LIMITED Company and Mylan can be described through marketing mix. Marketing mix of CSL LIMITED Company: Product CSL LIMITED Company deals with wide variety of life saving products such as plasma derived therapies, vaccines, anti-venoms, diagnostic products and pharmaceuticals. These products, after manufacturing are exported to the neighboring countries. Mention can be made of Sequirus Manufacturers, where maintenance of legal considerations is the prime factor in terms of marketing of the vaccines. Vaccines, which come under this business are Afluria Quad, ADT Boosters, Dukoral, Fluvax, Gardasil, H-B VAX II, Jespect, M-M-R, Proquad among others. Here, skilled and efficient experts are hired for preparing the vaccines (Csl.com.au 2017). Quality is a crucial factor, which helps the personnel to safeguard the people from viral and infectious diseases. Along with this, the research and development team continuously seeks innovative measures for upgrading the standards of the vaccines. Price Emerging successful in the Sales operation has assisted Seqirus in encountering annual revenue of US$4 billion upon its global market penetration. In spite of different product portfolio, franchise helps the company to manage all its operations in an efficient and effective manner. Possessing of a strong and wider supply chain network, especially with North America, Europe and Australia, makes CSL one of the largest influenza manufacturing companies (Csl.com.au 2017). Countering this, price seems negligible in comparison to the cure and treatment, which the patients need; however, financial flexibility is important in terms of introducing lucrative schemes, offers and discounts for the patients. Place In the Sequiris business, the company carries out its operations in North America, Europe and Australia. Along with this, CSL LIMITED Company has its outlets in CSL Behring, where mostly plasma derived and recombinant products are dealt with for expanding the business. Apart from this, Sequiris manufacturers, in collaboration with the CSL Company sells wide variety of vaccines in Australia and New Zealand. In vitro diagnostic products are marketed in the thresholds of Hong Kong, Malaysia, Singapore and Taiwan (Csl.com.au 2017). In the era of 2015, CSL merged with Novartis, which resulted in the creation of Sequiris. The main purpose of this creation was production of quality vaccines, which possessed flexibility to cure influenza. Promotion The core values of innovation, one standard quality, and safe marketing methods are the main agents, which have popularized CSL Company across the globe. The major drive behind this is engagement of the stakeholders towards the organizational excellence. Envisioning communal upliftment is one of the other agents, which promotes the oriental approach towards all round development of society as a whole. Most importantly, collaborative output, in terms of the ensuring quality service for the patients, forms a crucial segment for achieving loyalty, trust and dependence from the customers (Csl.com.au 2017). Marketing mix of Mylan: Product Mylan specifically supplies prescriptions to the Australian markets, especially the OTC brands, which include- EpiPen, auto-injector, Bicor, Diabex, Dymista, Noten, Creon, Lipidil, Physiotens, and Ferro-grad among others. The main focus here is to provide quality and branded products to the patients, in order to support in their cure. The target audiences are Specialty care homes, General Practitioners, Pharmacies and other stakeholders. Herein lays the role of the research and development team in developing new standards of quality for providing standardized care to the needful patients (Mylan.com.au 2017). Apart from this, Mylan also deals with therapies related to allergies, cardiological issues, influenza, and gastroenterology among others. All these products are approved by Therapeutic Goods Administration (TGA). Price According to the undertakings of 10th February, 2016, Mylan declared the decision to acquire Meda. The specifications of the offer are that it is devoid of any direct or indirect distribution. Along with this, the acquisition would not accept any tender or share, on behalf of the stakeholders and shareholders. This is irrespective of any legal jurisdictions, which were essential in terms of the formation of the offer (Mylan.com.au 2017). If any tender or share is accepted by any shareholder, appropriate legal action would be taken, which would destroy the reputation. This legal intervention would include application of the relevant documents along with the filings and measures in collaboration with Swedish law, Dutch Law and US Law. Delving deep into the decision, it reflects the conscious attitude towards the provision of quality medication and treatment at reasonable rates. Place Possession of a wider supply chain network enables the company to supply its products to the wholesalers, retailers, physicians and government offices. Effective and judicious utilization of social media marketing has popularized the company business till the extent of global markets. Mention can be made of the companys supply to the wholesalers, where the personnel ensure that quality medicines reach to the customers in more than 165 countries and territories (Mylan.com.au 2017). Along with this, Mylans supply to the government offices and medical institutions is also noteworthy in terms of delivering quality medicines to the needful patients and create a positive environment, enhancing the lifestyle and existence of the public domain. Promotion On March 20, 2017, Mylan published the news of EpiPen 300 microgram Adrenaline injection. The launch of this auto-injector is an initiative by Mylan towards the activation of the failed injection devices. Along with this, most of the injectors being defective or expired was a major concern towards the wellbeing of the patients. Most striking fact here is failed activation of 80,000 devices in a batch. The newly launched auto-injector would be effective in curing allergic emergencies, such as anaphylaxis (Mylan.com.au 2017). The news was spread through the means of social media, which helped Mylan to convey the news to a large number of audiences. Findings from the marketing strategies Marketing mix for both CSL LIMITED and Mylan is a kind of experimentation in terms of the existing products and services. One of the prime similarities between the marketing strategies of CSL LIMITED and Mylan is the manufacture of quality medicines for providing efficient and effective cure to the patients. For this, both the companies envision the achievement of financial flexibility in terms of introducing innovative and branded quality medicines. However, this is not with the destruction of the originality (Schaltegger, Burritt and Petersen, 2017). Effective and judicious utilization of social media justifies the possession of wider chain network, enhancing the scope and arena of the business of both the companies. Herein the parameters of place and promotion get merged up in terms of business expansion of both CSL LIMITED and Mylan. Delving deep into the findings, price is the most important aspect in terms of promoting the innovative and branded products newly launched. In addition to this, effective and judicious utilization of social media proves advantageous for both the companies in terms of popularizing the products till the threshold of foreign markets. Countering this, experimenting with the existing products, through the means of social media, proves beneficial in terms of gaining an insight into the customer approaches towards the offered products (Armstrong et al., 2015). These approaches play an important role for CSL LIMITED and Mylan to plan better services for the customers. The decision to adopt Meda is appropriate for Mylan in terms of stabilizing the financial parameter. On the other hand, strategic approach towards increasing the sales revenue proved beneficial for CSL LIMITED in terms of achieving financial stability. Countering this, adopting premium pricing methods helps the company personnel to deliver quality medicines to the patients. As a matter of specification, it helps the customers belonging to the middle class to afford the medicines, which are costly and obstruct the treatment of the patients (Baker, 2014). Recommendations for improvement Both CSL LIMITED and Mylan have covered a long way towards the achievement of success. However, there remains a lot more to cover for reaching to the peak of success. Oriental and conscious approach is needed for bringing change and innovation in the business operations and services. Bearing in mind the following recommendations would help both the companies to achieve expansion in business: Developing strategies Strategies act as a primary document in terms of systematizing the business activities. Inclusion of business models within the strategies would enhance the clarity of the personnel regarding the circumstances, the relevant conditions and the appropriate solutions, which can improvise the situation. Strategizing the identified and the specified objectives would prove beneficial in terms of performing the activity, which is more important (McDonagh and Prothero 2014). Consciousness towards this direction helps the personnel to achieve successful completion of the projects at hand within the stipulated deadlines. Training Trainings enhance the preconceived skills, expertise and knowledge of the employees. Therefore, increasing the frequency of trainings would help the employees to achieve an easy understanding about the basic and fundamental management skills. Viewing it from the other perspective, if the trainings are conducted by the senior and the experienced managers, it enhances the stability in the relationship between the employees, employers and the managers. Along with this, taking post-training tests would make the managers aware of the employees capability to make practical application of the learnt skills in carrying out the tasks in an efficient and effective manner (Doppelt, 2017). Division of the trainings into various sessions helps the employees to achieve an easy understanding of the delivered lectures on the ways and means to perform the business activities. Emerging successful in making practical application of the learnt skills enhances the confidence of the employees regarding th e capability to carry out challenging and enduring tasks. Meetings Organizing meetings and conferences with the shareholders and other associate partners would help the managers of CSL LIMITED and Mylan to gain awareness about their approaches towards their needs, demands and requirements. Interactive nature of these meetings would help the employees to clarify their doubts regarding the basic ways and means to do the allocated tasks (Foerstl et al. 2015). These meetings would play an important role in introducing strategies and policies for the betterment of the organization. On the contrary, these meetings can be organized in response to some crisis, which the companies might face or is encountering for a prolonged period. Involvement of the employees and the other staffs in these meetings and conferences would be essential in terms of getting the approval for the proposed plans. Presence of the Board of Directors in these meetings and conferences might be helpful in averting the illegal instances (Taneja and Toombs 2014). Social media marketing Social media is an effective option in terms of expanding the scope and arena of cSL Limited and Mylan. However, judicious usage is the keystone for achieving positive results in this direction. Uploading the pictures of the newly launched products would make the customers aware about the latest trends adopted by the companies. Within this, all the specifications about the products need to be uploaded on the websites and social networking sites. Prior to this, access needs to be given to the customers, so that they can enhance their knowledge about the utilization of their investments (Windolph, Harms and Schaltegger 2014). Search engine optimization is an important segment of social media, which would take the personnel directly to their search requirements. Here also training is crucial in terms of averting the instances of cyber crimes, virus attacks and hacker interventions. For this, IT experts can be hired for examining the machines. Maintaining frequency in these examinations would bring to the forefront the drawbacks if any. Offers, schemes and discounts In order to sell a newly launched product, the companies would introduce lucrative schemes, offers and discounts on the first purchase. This is a very cheap form for selling the products and in terms of healthcare, it reflects a very ordinary step towards the cure of the patients (Kumar and Christodoulopoulou, 2014). On the other hand, adopting the means of feedback, survey would help the personnel to achieve an understanding about the needs, demands and requirements of the patients. After this understanding, introducing offers, schemes and discounts would turn the business of the companies into customer-centric. Otherwise, it seems only a vague attempt towards the achievement of customer satisfaction. This perspective would place the companies in the same thread with the other companies and organizations in terms of achieving a sustainable place within the competitive ambience of the market (Baker and Saren 2016). 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