Write 8 pages with APA style on Conceptualization of an Innovative Event and Sales Pitch of the Bid. One of the essential elements of the marketing mix “which is designed to inform, remind, persuade and influence the customers so that they purchase the brands of the advertiser company. Brand promotion is applied and persuasive communication used for informing and reminding the customers of the company’s brands.”(Lakhotia, 2011). Brand promotion is important for following reasons: developing brand equity. increase sales and demand of any particular product or service. develop new market segment and customer base. promoting the organization and differentiate the product or service of the company from rest of the competitors, and finally to overcome any challenges that company might be facing in terms of promoting their offerings or in terms of holding onto their market position. (Lakhotia, 2011). In this paper, the main focus is on the pharmaceutical industry and how events can help them to develop a better brand image in front of their clients and also among customers as in this modern era the competition is very hard.In the UK, there are a number of well-known players present in the pharmaceutical industry and at the same time, there are more new players starting their operation every year. The market in the UK is a very competitive one and to be successful in that market it is important for every pharma company to come up without the box thinking in terms of promotion and branding. GSK or GlaxoSmithKline is one of the leading players in the world pharmaceutical and healthcare product market. The company is well known for its brand promotion and marketing strategies and over the years they were considered as the leading player in the healthcare and pharmaceutical market. In recent years, the company is facing 6 basic challenges in the pharmaceutical market across the globe. These are not specific for GSK, but as O’Riordan (2011) has mentioned in his report that these are the common challenges for all the pharma companies across the globe. .
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