Tylenol-A Study of Successful Marketing Strategies
Introduction
Marketing is used by organizations in various ways. More than just advertising, marketing is the procedure that answers the questions of what the needs, wants, fears, and desires of ones target consumers are. Aiming to meet these criteria, an organization develops a marketing plan. Marketing involves various processes which include research of a targeted consumer base and a product or service, initiation and development of a product or service, distribution, promotion, advertising, sales, and customer follow up that is conducted ethically by doing the right thing. Concisely stated, successful marketing is divided into four categories: product, place or distribution, promotion, and price.
To achieve these steps successfully, an organization must identify the area of focus and use available resources to ensure long-term viability. Satisfactorily meeting these steps results in future repeat purchases by customers leading to greater sales, which is the ultimate goal of business. Balancing profits and customer satisfaction is attained through effective and efficient marketing. Without an effective marketing plan “many organizations invest millions of dollars of resources in marketing without defensible, equitable evidence as to what financial benefit those efforts create” (Dunn and Halsall, 2009, p.1, ¶3).
Marketing plans must be flexible by seeking new and improved ways to introduce and implement products and services during successful or adverse fluctuating market conditions. For example, during an economic recession, Hudak (2009), states, “To survive, a company must know how to successfully market itself during these economic downturns” (p.3, ¶1). By thinking outside normal marketing channels, organizations can expand its marketing reach by “changing culturally” and by use of “new media such as online social networking website Facebook.com.” (Tasgal, 2009, p.437, ¶6).
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Background
- Tylenol Capsule Murders
- Younger Market
- Less is Better
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper examines the successful marketing strategies employed by Tylenol, a division of Johnson and Johnson, to navigate various challenges and maintain market dominance. The paper explores the four Ps of marketing (Product, Place, Promotion, and Price) and how Tylenol has effectively utilized these principles to achieve its goals.
- The importance of customer satisfaction and building trust
- The role of ethical marketing practices in crisis management
- The application of innovative marketing techniques to reach new market segments
- The significance of adapting marketing strategies to changing market conditions
- The importance of balancing profits and customer satisfaction
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter introduces the concept of marketing and its importance for organizational success. It highlights the four Ps of marketing and emphasizes the need for a balanced approach to profit maximization and customer satisfaction.
- Background: This chapter provides an overview of Tylenol's history and its journey from a children's medicine to a leading pain reliever. It sets the stage for the discussion of the marketing challenges and triumphs faced by the company.
- Tylenol Capsule Murders: This chapter details the 1982 Tylenol Capsule Murders, the biggest challenge Tylenol faced. It describes the company's response, including the immediate recall of the product, the introduction of tamper-proof packaging, and the focus on public safety.
- Younger Market: This chapter examines Tylenol's efforts to tap into the younger market segment. It highlights the use of non-traditional marketing approaches to engage with this demographic.
- Less is Better: This chapter explores Tylenol's "Feel Better" campaign, which emphasizes consumer well-being and trust building. It illustrates how focusing on customer needs can lead to long-term success.
Schlüsselwörter (Keywords)
The primary keywords and focus topics of this study include marketing strategies, customer satisfaction, crisis management, product recall, tamper-proof packaging, market segmentation, non-traditional marketing, and the four Ps of marketing.
- Citar trabajo
- James Tallant (Autor), 2009, Tylenol - A Study of Successful Marketing Strategies, Múnich, GRIN Verlag, https://www.grin.com/document/167347
