Johnson & Johnson: Marketing Plan

Marketing Plan: Johnson & Johnson Company
Institution Affiliation
Student’s Name
Table of Contents TOC \o "1-3" \h \z \u 1.0. Executive summary PAGEREF _Toc107504 \h 31.1 Introduction PAGEREF _Toc107505 \h 31.2. Company description PAGEREF _Toc107506 \h 31.3. The Market PAGEREF _Toc107507 \h 41.4. Financial consideration PAGEREF _Toc107508 \h 41.5. Company mission PAGEREF _Toc107509 \h 41.6. Key to successes PAGEREF _Toc107510 \h 52.0. Company summary PAGEREF _Toc107511 \h 52.1. Company ownership PAGEREF _Toc107512 \h 53.0. Company products PAGEREF _Toc107513 \h 54.0. Market analysis summary PAGEREF _Toc107514 \h 64.1. Market segmentation PAGEREF _Toc107515 \h 64.2. Target market segmentation PAGEREF _Toc107516 \h 64.3. Target market segment strategy PAGEREF _Toc107517 \h 64.4. Competition and buying pattern PAGEREF _Toc107518 \h 75.0. Strategy and implementation of summary PAGEREF _Toc107519 \h 75.1. Competitive edge PAGEREF _Toc107520 \h 85.2. Sales strategy PAGEREF _Toc107521 \h 86.0. Management summary PAGEREF _Toc107522 \h 87.0. Financial plan PAGEREF _Toc107523 \h 9Conclusion PAGEREF _Toc107524 \h 9References PAGEREF _Toc107525 \h 10Appendix PAGEREF _Toc107526 \h 11Figure 1: The decrease in market share on JNJ Company PAGEREF _Toc107527 \h 11Figure 2: Johnson and Johnson financial statement 2018 PAGEREF _Toc107528 \h 11Figure 3: Age distribution in Singapore PAGEREF _Toc107529 \h 11Figure 4 : Cost on necessary tools and drugs PAGEREF _Toc107530 \h 12Figure 5: Expenditure on staff PAGEREF _Toc107531 \h 12
1.0. Executive summary
1.1 Introduction
Johnson and Johnson is a company that deals with healthcare products such as pharmaceuticals and medical devices. The company's main goal is to create a dependable market around the globe through the production of variety and quality tools as well as medicines. The reason for this is to reduce the increasing health problems in the world as well as the need to conquer an increasing competition in the healthcare market. Moreover, J&J aims at offering their products at affordable prices for people of all social classes.
1.2. Company description
Johnson and Johnson is headquartered in New Brunswick, New Jersey. The company started in the year 1885 selling its products in New Jersey, and since then it has grown to sell its product all over the world. Currently, the company sells its product to sixty countries and has two hundred and fifty subsidiaries around the world. The company’s CEO is Alex Gorski who is also the chairman of the board of directors, Joaquin Duato and Peter Fasolo are both executive vice presidents and Jorge Mesquite in charge of marketing and supply. Other board members include Ashley McEvoy, Kathy Wengel, and Joseph Wolk (JNJ 2018).
The company faces a major challenge of exploiting the market fully. Even though the company sells its medicine to 60 countries, there is a need to expand the market to several other countries around the world. Additionally, there has been competition from other healthcare institutions around the world especially pharmaceuticals companies such as Pfizer, Roche, and Sanofi. The competition has shown a continuous decrease in market share for the company over the years as shown in figure 2 (Statista, 201...