E-Commerce & Social Media Marketing

Question: Discuss about the E-Commerce Social Media Marketing. Answer: Introduction: According to Stoica et al. (2015), marketing through social media plays a pivotal role in marketing strategy, since it does not only provide more exposure to the business but it also enables the customers and clients to have detailed information about an organization. It also allows the business to interact with its customers and get to know them as well. It helps in keeping track of the potential customers and enables the business to know what impression it has on people. In other words, it is one of the most cost effective ways of marketing as it reduces the cost of promotion and marketing by providing an exposure of the business to non-existent customers and increasing the brand loyalty. An organization not having any social marketing strategy has very limited access, as its existing customers and clients only know it. Various social sites (Facebook and Twitter), blogs or company websites can bring about social media marketing. This assignment focuses on the social media marketing strategy of a large pharmaceutical company IDL Australia Limited and its efficacy compared to other pharmaceutical companies (Park et al., 2015). Findings: IDT Australia private limited, is an Australian based pharmaceutical manufacturing and outsourcing company located in Melbourne and Adelaide, which develops active pharmaceutical ingredients (API), as well as finished commercial drugs. According to Reuter et al. (2015), the status on Twitter page, this company believes in manufacturing a healthy future. The companys website provides detailed information on the purpose, specialization of the organization and its facilities. The companys website portrays that the company has five facilities dedicated to API Manufacturing Facilities API or Active Pharmaceutical Ingredient is a biologically active component of the drug also known as the central ingredient. The company has nine general containment facilities and two non-containment reactors. It also describes the bioreactors for the production of active ingredients and scales up the production. - lactam and finished product This facility include a sterile lyophilization facility, tablet facility, aseptic vial filling, coating of tablets and dry blending. Oral and Injectable Drug Product- This facility is involved in the manufacture of tablets and capsules for oral administration at the approximate rate of 85000 units/ hour. This facility is also involved in the manufacture of liquid, powder and lyophilized injectable drugs. Analytical services- This service deals with quality testing and assay of the manufactured products. Clinical Packaging Services- This includes packaging and labeling of the drugs, their distribution via cold chain logistics, and assembly of patient kits (Park et al., 2016). The YouTube video linked to the companys website highlights the manufacturing and retailing aspects of the company, which classifies the following points - Twelve thousand square-metre manufacturing space, Approved by Therapeutic Goods Administration and Food and Drugs Administration Manufactured products tested under GLP (Good Laboratory Practice) and GMP (Good Manufacturing Practice) Regulations. Method development and validation Facilities dedicated to beta-lactam manufacture Lyophilisation and high shear granulation facilities Lab scale to 4000 liters reactor sizes (Council et al., 2013). The companys Twitter page informs its followers about its latest developments in the company, like the opening of a new clinical trial facility, equipped with fifty beds, at Adelaide under CMAX. The targeted customers under, IDT Australia, are mainly the drug suppliers and the hospitals both within the continent as well as overseas. As stated by Penttinen (2015), with a recent development in the clinical trial facility, they also require volunteers for the program. Their main objective is aiding faster development by methods of API scale up, manufacturing of finished drugs. It also aims to fast track the product of the client by the use of Australian Clinical Trial Notification (CTN) scheme into the clinic and hospitals without wasting time and money. Ranging from the initial development of drugs to clinical trials, it has been the outsourcing partner for top pharmaceutical companies situated globally. The company has also facilitated pharmaceutical companies overseas to register for Australian RD tax incentive, which allows companies are investing in research and development and avail a cash rebate of 45% (Nawi et al., 2014). The Major Achievements of the Company Include Development of a significant drug for brain cancer Invades the major drug markets of the United States Regulates over 23 interdisciplinary drugs A distribution deal with Mayne Pharma, U.S. based pharmaceutical company for Temozolomide for the treatment of melanoma. It deems that IDT Australia has succeeded considerably over the past two years. The company has developed new methods and techniques to achieve its goal. It encourages techniques, which involve - Innovation Improved quality and reduction of risks Collaboration Resources and facilities Thus, this company ensures quality at every stage of development. "Chemmart Pharmacy" is another pharmaceutical company in Australia, which is considered to be the biggest competitors of IDT. This company also expanded in the recent years regarding online marketing. The biggest competitive advantage of IDT is that this company provides loyalty scheme to their members giving them the motivation to work and also developed retail loyalty programs in and around Australia (Shaw Yruski, 2015). Conclusion: IDT Australia Limited has been being an Australian based pharmaceutical manufacturing and outsourcing company which is well recognized for designing some potent drugs and also finished commercial drugs. The marketing strategy of the company involves innovation, promotion of their products through various social networking sites such as Youtube, Twitter, etc. and also a collaboration with foreign countries. Although the company excels in its field, there are competitors who need to be chased by developing new strategies to grow and several recommended implementations. Recommendation: The target audience for IDT is mainly the distributers, but designing of a secure app could help them to reach specific medical practitioners such as doctors who in turn might prescribe IDTs medicine. This will ensure full transparency in business dealings. Moreover, the online trading can expand in terms of cost reduction or discounts or promotional offers in certain periods of the year (Shaw Yruski, 2015). References: Council, A. B., Patent, L. A., Mark, T., Diagnostics, A., Leibler, A. B., Council, A. C. B., ... Network, B. (2013). Corporate, institute and associate members of AusBiotech.Australasian BioTechnology,23(1). Nawi, N. C., Fong, M., Tatnall, A. (2014). Using Research Case Studies in eCommerce Marketing Courses: Customer Satisfaction at Point-of-Purchase and Post-Purchase.Journal of Information Technology Education,13, 15-25. Park, A. J., Patent, L. A., Mark, T., Diagnostics, A., Leibler, A. B., Pty, A. B. (2015). 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