Discuss Marketing Strategy of Johnson & Johnson within the Marketing Management forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; Johnson & Johnson (NYSE: JNJ) is a global American pharmaceutical, medical devices and consumer packaged goods manufacturer founded in 1886. ...
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Marketing Strategy of Johnson & Johnson
Marketing Strategy of Johnson & Johnson - December 7th, 2010
Johnson & Johnson (NYSE: JNJ) is a global American pharmaceutical, medical devices and consumer packaged goods manufacturer founded in 1886. Its common stock is a component of the Dow Jones Industrial Average and the company is listed among the Fortune 500. Johnson & Johnson is known for its corporate reputation, consistently ranking at the top of Harris Interactive's National Corporate Reputation Survey, ranking as the world's most respected company by Barron's Magazine, and was the first corporation awarded the Benjamin Franklin Award for Public Diplomacy by the U.S. State Department for its funding of international education programs. A suit brought by the United States Department of Justice in 2010, however, alleges that the company from 1999 to 2004 illegally marketed drugs to Omnicare, a pharmacy that dispenses the drugs in nursing homes.
The corporation's headquarters is located in New Brunswick, New Jersey, United States. Its consumer division is located in Skillman, New Jersey. The corporation includes some 250 subsidiary companies with operations in over 57 countries. Its products are sold in over 175 countries. J&J had worldwide pharmaceutical sales of $24.6 billion for the full-year 2008.
Johnson & Johnson's brands include numerous household names of medications and first aid supplies. Among its well-known consumer products are the Band-Aid Brand line of bandages, Tylenol medications, Johnson's baby products, Neutrogena skin and beauty products, Clean & Clear facial wash and Acuvue contact lenses.
Johnson & Johnson under William Weldon. Based on the case study, Weldon was a master of marketing, which was then to the advantage of the monolith J&J. The following discussions will analyze the capability of J&J using the marketing mix to maximize the profits gained by the said company under the headship of Weldon.
II. Marketing Points
Based on the article of (2003) Johnson & Johnson was a company who dwell in innovation and new products. This shows that the company has a commercial advantage against its competitors. Not only does it have a recognizable brand, it also offers products which the public identify with them. This is possible because they have identified themselves with the product. A good example of this would be their treatment of the drug, Procrit.
Along with the famous products of the company, it also shows how effectively they make these accessible to the public. In the case of their product Bandaid, they targeted hospitals by making it more scientific through the improvements made by their research and design department. The product was made liquid and thus accessible for hospitals as wound closing agents. Another product was also made accessible to the public. Their product, Nizoral, was formerly an antifungal treatment targeted for hospital use was transformed to commonplace merchandise, shampoo. This shows the tenacity of the company to offer the public their products and in the same time expand their market.
The promotion of the products of J&J, the company takes on the persuasive craftsmanship of Weldon to the public. The article indicates that Weldon does impose rather challenging tasks to his executives. These tasks are expected to be successful at the first attempt that some of the executives even consider it impossible. Nevertheless, the pressure provided by Weldon has been considerably effective given the performance of J&J in his reign. The competitive compulsion that has enveloped the company through Weldon has helped improved consciousness and creates a positive image towards the products offered by the company.
Early on in the article, the discussions have presented that J&J have offered the public with low-cost and considerably affordable products in the market. This doesn’t only make their product known to the majority of the public, but also the choice of many buyers. The good thing about J&J’s recognizable brand name is that the buying public tends to trust their products. In this manner, this part of the marketing mix tends to contribute largely to the rest of the determinants of product choice.
The case study presented the circumstances surrounding Johnson & Johnson as one of the most influential companies in the commercial sector. One could learn largely on the situations of J&J. It shows that a firm leader could do wonders for the company. The case study has presented that Weldon was cognizant of both internal and external elements that affect the overall environment of the company. In this manner, he was able to use these to his advantage. Knowing what needs to be done for product has greatly influenced how he became aware on how these are going to be carried out.
More important than the effective implementation of the marketing mix, the proper communication within the organization is required. Along with the strong leader, the need of a healthy interaction within the ranks presents not only an opportunity to develop but also, as seen in the case of J&J, to essentially make seemingly impossibly demanding tasks into measured ones.
Nevertheless, the case study has also presented that the company have indeed taken several missteps in their quest for development. Again, leaders have to be constantly vigilant such that these errors could be mended before major implications have infected the entire operations of the company. Companies could learn from the case of J&J. Firm leaders and able executives to realize the vision of the company spell success for the company.
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Re: Marketing Strategy of Johnson & Johnson
Re: Marketing Strategy of Johnson & Johnson - May 28th, 2015
Marketing strategy requires an intensive research work. Without research marketing cannot be done. Marketing strategy has be accurate because even a slight mistake can create big problems. marketing strategy is not one night process it requires creative minds and near about months or more that that is required to create strategy.
Benefits of marketing strategy
1) Proper direction
2) Work framework
5)Create business map.
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