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Authors
Hanh Phan, Nguyen Nu
Ravi, John vara prasad
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Abstract
International Marketing is the main study of our Master’s degree that contains a broad view of how a company should operate in terms of pricing, promotion, and designing a good marketing strategy plan in order to conduct a successful business in different nations. In this Master Thesis paper, our main focus is to help company Uriach, a pharmaceutical company in Spain to successfully understand the US Consumer Health Market and help them to initiate a detailed marketing plan to introduce their new set of products into this potential and complex market. With this research paper, we hopefully will build up a complete analysis that can help us to have a deeper understanding of the pharmaceutical industry, specifically in Consumer Healthcare in the US. Our main goal in conducting this analysis with various perspectives and all possible crossovers is to be able to finalize a completed marketing plan that best serves Uriach in their entering into the next targeted international market with their high quality and innovative Dietary Supplements options.
Uriach is already an International Company which presents in multi nations around the world with a high profile of business operation for years. Meanwhile, the US market which they are trying to enter for the first time is a complex market as the country itself is one of the largest economies in the world. There are so many different factors in this market that can be potential and also threatening for any new company that wants to enter for the first time. Therefore, a deep understanding of this market is compulsory before conducting any marketing plan, especially one that can best serve this unique economy platform which always changes from years to years due to their complicatedly structured and heavily regulated. In this case, we will apply mainly what we have been studying during the Master Program in order to come up with the best possible plan for the company. There will be different methodologies we are going to use in the process including Internal Analysis, External Analysis, Industry Analysis, Situation Analysis, KPIs, etc. We believe that it is always important to understand and prepare our knowledge about the company and its products to identify our strengths and weaknesses. By having a good understanding of company profiles and their product portfolios, we will be able to build a clear vision of the company's position in Spain and internationally as well as their ability to adapt to the requirements from the new business environment. We will break this analysis into 9 main parts and use all the trustworthy resources of data to come up with reasonable conclusions about the company as well as the US market.
At the end of the analysis, we will be able to provide a proposed marketing plan for the company to help with their business success, with the goal of building the best brand awareness and creating the best impression for their first entrance into the US. Understanding that there have already been many high profile competitors present in this market, as well as knowing the fact that Uriach wants to enter into a specific niche market for their high quality and natural ingredients, we will focus on developing the project into these directions. However, it will not be limited to other possible expanded studies. If there are some other aspects or factors that we can possibly use to maximize profits and successful landing for the business, we will also include them in this paper. On the other hand, if we find any serious threat for the company in entering this market, we will also make sure to include it in this paper along with our proposals.
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