Analysis of the New Market Essay Example | Topics and Well Written Essays - 1000 words

Analysis of the New Market - set about ExampleGSK (GlaxoSmithKline), headquartered in Brentford, England, is a multinational pharmaceutic company. Founded in 2000, GSK is ranked to be sixth largest (by revenue) pharmaceutical company in the world (GSK Our Company). Its top selling drugs are Advair, Flovent and Ventolin and several other vaccines manage diphtheria, tetanus, hepatitis B, etc. GSK operates in several south Asian countries, like Bangladesh. This paper is focused on upstart market analysis of Bangladesh with the aim of launching Scott Emulsion product of the company. It also includes the study of the market milieu by PESTLE analysis to find out whether it is a prospective market of the product or not (GSK Scotts Emulsion).Before launching any product, a company should analyze the market to watch that the product will be accepted by the customers or not. Pharmaceuticals are one of the most significant manufacturing industries in Bangladesh. The industry meets almost 97 percent of the local needs and it also exports to around 80 countries. The other top pharmaceutical companies in the country are Square Pharmaceuticals, Incepta, Beximco, Acme, Opsonin, etc. Among them, Square Pharmaceuticals lodge the maximum market share of around 20%, followed by Incepta and Beximco at 9% and 8.35% respectively. Scott Emulsion is a vitamin supplement composed of cod colored oil, vitamin A, D, etc (Mph-bd. Cod liver oil). Other similar cod liver oil vitamin supplements in the Bangladesh market are, Cod oil by Rangs Pharmaceuticals, Cod liver oil by Drug International, Codcap by Incepta, Codliv SG by Pacific Pharmaceuticals, and Codvit by Opsonin Pharma Ltd (FiercePharma The top 10 pharma companies by 2013 revenue).The industry analysis is done using the Porters five forces. The five forces are curse of new entrant, threat of substitute, bargaining power of buyers, bargaining power of suppliers, and rivalry among firms.Threat of New starter motor The