GP5 - Phase III

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//In this section, there will be general introduction of the Abbott Laboratories, which is a pharmaceutical company based in USA. It will include the general description and the description of the company along-with products of the company//.

Executive summary

The following paper discusses the marketing plan for the Abbott laboratories Inc, for its expansion plans in emerging markets of Asia. The product to be promoted in these markets includes the organic baby food, which is good in nutrition and is helpful for the growth of the baby. The identified markets of the company, the segmentation, targeting and positioning of the product of the company are discussed, so that it can capture the potential and emerging markets of Asia, as there is an increase in the global baby food market specifically in Asia. The company is good in selling its products in USA and other countries of America. Therefore, the plans of expansion are targeted for Asia, as it is an emerging market.

Introduction

Abbott Laboratories is a USA based pharmaceuticals health care company, which has extended its operations worldwide now. It operates in more than 130 countries and has more than 90,000 employees. Headquartered in Abbott Park, North Chicago, Illinois, the company was established in 1888 by a physician from Chicago, Dr. Wallace Calvin Abbott (Richmond, Stevenson and Turton, 2003). Abbott Laboratories is one of the world?s largest pharmaceutical companies, which is growing at a great pace all over the world. Its business is mainly in the areas of research, development, manufacture and sale of diversified line of healthcare products. In this section, we are going to discuss briefly about the company, its products, process of selecting the markets and company?s marketing plan.

Company Description

The company manufactures and markets a great variety of healthcare products, medical equipments and nutritional products. Abbott International is a global healthcare company devoted to discovering new medicines, technologies and new ways to manage health. Here, we are going to discuss the four P?s of marketing for Abbott Laboratories.

Products of Abbott Laboratories

Abbott Laboratories operate in four broad segments: The first and foremost is the segment of Pharmaceutical Products under which are taken into account, the production, marketing, and selling and distribution of adult and pediatric pharmaceuticals to other channels of distribution. The second category of products includes the products for Diagnosis, which consists of the series of diagnostic systems and tests that are manufactured, marketed and distributed to the hospitals and laboratories in different locations. The third segment consists of the nutritional products, which comprise of a line of pediatric and adult products with nutritional elements. Fourth category is inclusive of the vascular products, in which a line of coronary, endovascular, and vessel closure devices, which are meant for treating the vascular diseases, are included (Company Information, 2011).

The company's chief products in its range of drugs are Humira, a drug for rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, moderate to severe chronic psoriasis and juvenile idiopathic arthritis; Norvir, a treatment for HIV, Depakote, an anticonvulsant drug; and Synthroid, a synthetic thyroid hormone.

//The following section discusses about the company?s identified markets for its ...