Branding and Importance of Branding
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The purpose of the research is to assess the meaning of branding as it results from a set of associations and perceptions in the individual's mind. Branding helps people to influence and generate awareness regarding the popularity of business in the market. For instance, any business enterprise can benefit themselves through creating a brand name that represents them as distinctive, trusted and reliable among other competitors (Katchanov and et.al., 2014). In recent time, branding has been changed for businesses because of introduction of digital marketing through which target audience can be easily communicated and thus it helps in creating a brand image in the market. In the current study, organization undertaken is GlaxoSmithKline Pharmaceuticals Ltd which is one of the best pharmaceutical and health care firms. However, company offers a range of medicines and vaccines for the prevention of numerous diseases.
It can be assessed that GSK Pharmaceuticals brand reflects their image in the form of quality medicines produced by them. It helps them to develop a qualitative brand image in the market among other available competitors so that their target audience personality can be reflected. However, it shows that individual who do not believe to go to doctors for headache, body pain etc. Thus, they undertake Panadol drug which is manufactured by GSK Pharmaceuticals and thus creates a brand image for fast action among consumers. By taking such type of medicine patient feels relief and thus it reflects brand image of firm in the market. People generally refer to the product Panadol because they have trust in the company and they are able to get pain relief from its medicines (Wheeler, 2012). Organization understands the pain of people and thus they influence their workers to develop such tablets that provide fast relief to users. It helps in building distinctive brand image in the market. Panadol contains paracetamol and thus it helps in providing instant pain relief to the individuals. Therefore, users trust the medicine and consumes it whenever they have any type of pain such as general pain, muscle and joint, cold and flu etc. However, it is essential for users to use it effectively as prescribed by doctors because it also contains caffeine (Sun, 2003).
It can be evaluated that any individual taking Panadol medicine reflects their personality that they want instant relief from any type of pain. Also, they do not prefer to visit doctors or physicians for such small pain and believe that by taking Panadol pain will be overcome easily . However, Panadol does its work and provides instant pain relief to person because it includes paracetamol content that minimize the effect of pain within hours. It is all because it affects directly on one of the nerve of brain and thus makes people comfortable. Hence, people using Panadol as a brand medicine reflect their personality as drug addict and do not prefer to go to doctors for the such small pain (Kavaratzis and Hatch, 2013). Simply, they go to pharmacist and purchase the drug as it directly provides relief to the patients and make them feel better. Brands like Panadol and Nurofen are able to convince clients that pay instant relief to patient's pain. It helps firm to create a distinct brand image in the market. For instance, if pain strikes in any individual then people reach for the branded pain relief such as Panadol instead of cheaper generic medicines available in the market. It is all because of high brand image of Panadol in the market which reflects that it is a safe and effective pain killer.
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It can be easily assessed the difference between the branded and generic medicine. However, generic medicine also includes similar content and there is no different in quality but because of no brand name it is not purchased by consumers. While, if the same medicine is sold with a brand name then its price will be become just double (Furnham and Goh, 2014). Also, it is the mentality of users that if medicine is costly then it will react fast but they do not know that it contains similar salt content and thus takes minimum time to react on their body and kills the pain. As per Euromonitor Data, it has been stated that Australians spend around $629m on pain killers among which half of the sales has been accounted of Panadol and Nuroten (Brown and Campelo, 2014). Panadol contains around 28% of market share it is all because of its distinctive brand image in the market . Hence, it can be stated that brand image of Panadol reflects its target audience personality as brand followers. Thus, people prefer to consume the medicine directly as they believe that it will kill their pain and provide them instant relief.
By considering the official website of company, it can be assessed that GSK Pharmaceuticals uses their brand name in order to differentiate Panadol from varied other competitors. Business uses the tag line fast pain relief that attracts consumers to purchase the tablet whenever they are strike from any type of pain. Another crucial factor in differentiating themselves from competition is packaging. For instance, packaging of Panadol Osteo and Panadol Back & Neck Long Lasting both contains 665mg of paracetamol and are marketed by firm under the brand image of “sustained release” tablets. However, these tablets provide pain relief for up to eight hours. Thus, GSK admits that firm is using effective brand image in the market so that clients can be attracted. Business uses their brand image as targeted pain relief and develop distinctive brand image in the market from its competitors (Abratt and Kleyn, 2012). It is a fast acting pain relief that target all consumers in order to provide them the best relief from different types of pain such as cold and flu, body pain and muscle pain etc. Moreover, it can be assessed that both Panadol Osteo and Panadol Back and Neck Long Lasting contains similar 665mg of paracetamol but they are differentiated in its packaging as well price tags.
GSK Pharmaceuticals is focused on enhancing its brand image through targeting people who are regularly using the pain relief tablets and not prescribing doctors. Therefore, business provides Panadol with Paracetamol content that provides fast pain relief to patients so that they always prefer to purchase their product and thus it increases sales and profitability of firm in the market. Organization targets those people who are regularly buying Panadol tablet so that sales can be enhanced. However, in order to popularize the brand name, firm is focused on promoting its tablets through digital communication such as internet, websites and social networking sites. Company provides the detailed information regarding the content and use of tablet on its packaging so that people can be clarified that through using such medicine they will get relief from pain (Chabowski, Samiee and Hult, 2013). It is a type of pain killer and gives tough competition to its rivals such as Nurofen. Panadol's obtains 28% market share due to high brand image in the market as compared to Nurofen i.e. which obtains around 22%. Panadol uses their brand image which is distinctive in the market and thus attracts people to use the medicine as instant pain relief and providing them assistance by reducing their pain within 8 hours.
GSK is a one of the branded drug companies and thus it provides branded medicines to its client base rather than providing them generic medicines. However, generic medicines are cheaper as compared to branded ones. Thus, Panadol uses its brand name in order to differentiate itself from other competitors. Also, business uses effective packaging that help in differentiating it and attaining high market share. Company's innovative and new product line up provide its competitive edge over other rivals. In order to differentiate itself from competitors, business is focusing on its development and also enabling firm to develop nest generation of patent protected drugs in order to evergreen it's pricing strategy (Taneja, 2013). Furthermore, business also possess an effective and powerful distribution channel that attracts varied biotech companies in order to market the drugs. Thus, all such advantages provide benefit to consumers in the form of relieving pain timely. However, it benefits firm to gain competitive advantage from other competitors and creates distinctive brand image in the market. GSK improves its research and development department in order to produce effective medicines so that it can cure people fast. Panadol creates a distinctive brand image in the market as compared to other pain killers. Therefore, people usually purchase the drug at the time of any type of pain i.e. cold and flu, body pain and muscle pain etc. Thus, people often purchase Panadol drug whenever such type of pain occurs which improves the brand popularity of firm in the market (OlajideTalabi and Abubakri, 2012).
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From the above study it can be conferred that branding assists in influencing and attracting consumers and also helps in enhancing the sales and profitability of firm in the market. Thus, GSK Pharmaceuticals promotes its branded drugs in the market through adopting effective digital communication method so that best results can be attained. Company's product Panadol helps in creating a distinct brand image among targeted audience in the name of instant pain relief. Therefore, people instead of visiting to doctor for general headache or body pain consume the tablet and found themselves better. At the end, firm is also able to develop distinctive brand popularity in the market as compared to competitors through attractive packaging and redesigning its tablet.
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