Marketing at GM Pharma – Part I
II Place in MEO21
Human life and health depend on many factors. These factors include living environment, food, air, and more. Millions of people today suffer from various health problems. Deteriorating, correcting, restoring, or preventing various diseases is often possible with the right treatment, and therefore with appropriate, quality medical devices and medicines. There are hundreds of pharmaceutical companies like KRKA, SANOFI, BAYER and etc., in the world market today that care about improving the quality of human health and prolonging life. Among them is the local Georgian pharmaceutical company GMP and in this essay, I will try to provide you with information about the activities and achievements of this company.
GMP is the first international pharmaceutical company in Georgia. It was founded in 1998 and the company has been successfully carrying out its production since 2000. Nowadays the company manufactures its products not only in Georgia but also in other countries across the globe.
GM Pharma is the leading manufacturer and №1 pharmaceutical company not only on the Georgian market but also in the region. The company has one of the largest product portfolios in the region for over 20 years, with 150 brands and 250 releases. What’s more, it’s noteworthy that the company exports over 100 types of products to 10 countries worldwide: Armenia, Azerbaijan, Kyrgyzstan, Tajikistan, Uzbekistan, Moldova, Belarus, Kazakhstan, Ukraine, and Libya.
In this essay I will try to discuss in detail why the company is a market leader, what is its marketing, its approach to customers and customers’ assessments.
After a general overview I want to review the mission of the company which has a significant role in setting goals and therefore in the proper development of the company.
The mission of the GMP company is to be committed and passionate about delivering and improving the high quality of the lives of the patients in need, in order to increase life expectancy. Therefore, they build a culture of life-saving investment.
‘Investing in Life’ is due to each of their team members’ commitment, hard work, knowledge, experience, and continuous professional development which result in producing customer-friendly pharmaceutical products to change the world and help millions of live healthier, more fulfilling lives.
As the company realizes and takes on so much responsibility in offering a high-quality pharmaceutical product and improving the quality of human health, the company has developed a strategic plan to implement all of this. In particular, to accomplish its mission, the company is aimed at ensuring pharmaceutical products are produced and controlled to the quality standards appropriate to their intended use and required by drug regulatory authorities. Through quality assurance, the company maintains the highest quality of manufacturing at each stage. Therefore, GMP is a part of quality assurance activities. Moreover, GM Pharmaceuticals has the most innovative and cutting-edge technology in Research and Development Centre, where new formulations and analytical methods are developed. At the same time, the company is constantly evolving, refining its production, and trying to establish itself in the world market. The company also strives for quality excellence based on scientific approaches.
Based on all of this, the company’s short-term and long-term plans are as follows: Local market leadership, export development and expansion are GMP’s short-term plans, while in the long-term plans, the company intends to enter the EU and US markets and focus on R&D. The company also wants to work on creating its original, new molecule and introducing a new drug.
Next step is designing the business portfolio, which combines the businesses and products that make up a company. Based on the information I found, the company is only the manufacturer of the product and currently produces 150 brands and 250 releases. The groups of medicines produced by the company are divided according to the profile as follows: urological, antiviral, ophthalmological, antianemic, dermatological, antibacterial, ENT preparations and others.
The last but not least step in strategic planning involves the planning of marketing and other functional strategies. The main parts of the marketing plan can be considered pharmacy chains such as PSP, Aversi, Pharmadepot, GPC, and other network or local pharmacies that sell the company’s products. Among them PSP is also part of the product plan as it is the main supplier and provider of the rest of the above pharmacies. Also, the most important element of the production is the persons working in the enterprise, who, after dividing their roles and the work to be done, will start to implement these tasks.
Nowadays without proper marketing it is unthinkable to introduce a business to a wide target audience and attract customers, which is why I will start with the marketing strategies that the company is currently using successfully.
In the modern world, in the age of the Internet, social networks are a great platform for business development and building closer relationships with customers. Modern marketing strategy also known as the social media marketing isn’t just growing, it’s exploding. Using modern marketing approaches nowadays businesses can grow customer engagement and manage customer relationships anywhere, anytime. The great importance and impact of social media marketing has been realized by the GMP company and today it uses several internet social platforms to increase customer engagement and interaction and to provide information to them. Currently, the company has its own website where it constantly uploads news about the company, focuses on its achievements and activities, as well as general information about the company and its production. In addition, people who visit the page have the opportunity to see a list of products that the company produces. The company also has a Facebook page with more than 31 thousand followers, and here too, informative medical videos are uploaded and specific products from a wide range of products are offered to customers. The company has the same type of content on LinkedIn and Instagram. In addition to all this, the company also has a YouTube channel, where it uploads cognitive type videos. Each of the above modern marketing tools allows the company to become known to the wider masses, raise public awareness, increase its target audience and be under sustainable development.
Next and one of the most important parts of marketing strategy is social marketing system. One is what the company produces and the other is how it affects society, how much of a positive impact it has on society. In the case of GM Pharma, the company’s social marketing can be considered its mission to raise the quality of health of the population by providing them with quality and effective pharmaceuticals. Moreover, medicines and food additives (BADs) are manufactured in Western European countries (Germany, Spain, Switzerland, Italy, Sweden, Portugal) and Georgian GMP-certified enterprises. Accordingly, the company provides the consumer market with high-quality products. The company tries its best to maintain high-quality products, to bring its production in line with internationally recognized standards, and thus create beneficial, society-friendly business. In addition, the company conducts consciousness-type conferences and training to raise the level of awareness among consumers.