Baurs professional medical is the leading importer and distributor of healthcare specialties in Sri Lanka, which is a strongest subsidiary of an. Baur & Co. (Pvt. ) Ltd, set up in 1897. The precision, ethics and quality which is a hallmark of Switzerland is within the building blocks and culture of the business.
This report provides a qualitative evaluation of facts based on the current framework of the corporate reputation of Baurs healthcare and even more precisely encounters how the integration of commercial communication might assist for the development of overall trustworthiness of the organization.
The integration of communication mixture will definitely assist the organization to have a continuous and interactive dialogue using its stakeholders to be able to establish & improve overall reputation.
Today, the medical industry is highly competitive and powerful industry because of the fact of appearing cheaper generics which lead to rot the new and progressive molecules from the market. In such conditions, integrating the communication blend will help Baurs healthcare to deliver more ideals and interact and engage with their stakeholders to be able to establish the entire reputation and the long-term sustainability of the organization as well.
According to the mini survey conducted just lately among stakeholders of Baurs health care about the current reputational standing of the company, it is discovered that the business applying different communication tools do not have positive effect on developing corporate reputation.
So, Baurs medical care should focus more on expanding and integration of the overall communication elements to improve corporate reputation which is based on the corporate targets of the business in order to improve our core beliefs and better corporate and business image among eyes of the stakeholders.
Introduction
The reputation among stakeholders of an organization has been named a secured asset (intangible asset) of the business, which is made over a period. This has turn into a key strategic drivers of the organization in today's competitive business world.
The positive reputation is key source of distinctiveness for a business, which can identify from its opponents; produce support for and rely upon the organization and its products (which in turn may improve its steadiness and resilience in times of change and crisis); and make it to attract and hold on to quality staff, business associates and allies (Fombrun & vehicle Riel, 2004).
So, the communication towards their stakeholders is a essential process of the business which facilitates the business to see, remind, differentiate and persuade their internal and exterior customers in order to develop the entire reputation of the organization.
Corporate reputation
Many writers have been referred to "Corporate reputation" in different ways and regarding to Fombrun, 1996, "corporate and business reputation is the overall estimation in which a company is held by its constituents. A corporate reputation represents the 'world wide web' affective or mental reaction (i. e. good or bad, weak or strong) of customers, investors, employees, general public and other stake holders to the company's name".
Doorley & Garcia, 2007 has been expressed the organizational reputation by the easy formula;
Reputation = Amount of Images = (Performance and Behaviour) + Communication
Corporate trustworthiness of the organization could be motivated by following strategic drivers,
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A good reputation offers more resilient when compared to a bad one and organizations with a good reputation will be more favourable (Lyon and Cameron, 2004, P. 226). Research shows that reputation comes with an effect on the conception of the management style and purchasing decision as well (Yoon et al. , 1993, P. 226).
A positive reputation of the organization will appeal to & retain qualified staff (Eccles et al. , 2007, P. 104) and determines investor's satisfaction and commitment (Helm, 2007, P. 33).
CredibilityThere are four areas of corporate communication,
Trustworthiness
Corporate Reputation
Corporate Image
Corporate Personality
Corporate Individuality or Brand Corporate Communication
Reliability
Responsibility
Source: Frombrum, 1996
Some commentators (truck Riel & Fombrun, 2007; Truck Bekkum et al. , 2008) respect the emergence of reputation as a bi-product of the integration of commercial communication. So that the organizations are increasing the need to integrate their communication activities, to be able to a far more coherent and regular set of text messages is directed at stakeholder categories.
The Corporate and business Reputation Chain;
Internal Stakeholders
(Employees)
External Stakeholders
(Customers)
B
R
A
N
D
S
Satisfaction Satisfaction
Identity Retention Loyalty
Corporate
Reputation Sales
Source: designed from Davies et al. (ibid P. 76)
Davis et al. distinguish the different components of reputation by audience; id is the inner view of the company, which can straight link to personnel retention and appealing to new talent employees. Image is the view of the company held by external stakeholders (i. e. customers) which directly web links with organizational performances. Reputation is the collective term of all stakeholder views, which include id and image
A strong corporate and business reputation generates self confidence in the present as well as the continuing future of the organization and can fortify the company's success by;
driving profitable sales in fragmented markets
attracting, motivating and retaining talented employees
deterring competitors
attracting capital resources and proper business partners
facilitating admittance into new markets
defining commercial financial value (market capitalization)
In the case of Baurs health care, the integration of communication activities to all the major stakeholders, both internally & externally will really helps to establish its corporate and business reputation as an ethical & valued healthcare spouse in the pharmaceutical industry, which gives the company an edge over its competitors in the market.
Integrated communication
Integrated communication is a coherent approach to the introduction of marketing communications in organizations in conditions of streamlines the communication activities by working from a centrally co-ordinated tactical framework (vehicle Riel & Fombrun, 2007, P. 22). Hallahan defined the included communication as "the coordinated use of a number of different promotional communication tools towards a single aim". Integration of communication involves "a complete coordination of all communications for maximum subject matter effect on a target band of customers and which includes the content and messages, stations, stakeholders and consumers, and results" (Kliatchko, 2008)
In today's business environment, communication performs an essential role and device in constituting organizational reputation among its stakeholders. As a result, general public scandals are a significant risk to reputation because they may bring organizations into a crisis situation and create a direct effect on the success and sustainability of the business. So, the eventual role of the built in communication is to convey a consistent message to both internal & external stakeholders in order to avoid the filtration of communication in the communication circulation until gets to to the end recipient. The effective integrated communication solutions foster companies to effective usage of communication resources in order to build permanent sustainable stakeholder relationships.
In fact, to be successful in the current business environment, organizations need to integrate their corporate and business communication attempts, which encompass all three components of the mixture: management, marketing and organizational communication.
1. 4. 1 Corporate and business communication mix
Corporate communication is "a management function that offers a framework for the effective co-ordination of all internal and external communication with the overall purpose of building and preserving favourable reputations among stakeholder groupings upon which the organization is dependent" (Cornelissen, 2008)
The audiences of corporate and business communication could be described as below,
Macro Micro
Investors
Public
Media
External
Suppliers
Management
Employees
Internal
Regulators
Communities
Distributors
Government
Professional Bodies
Customers
Connected
Source: Fill, 2011
The principle activities of commercial communication include;
Internal communications
Investor relations
Marketing communications
Public affairs
Issues Management
There are three main types of formal communications are performed by organizations today with regards to their key inside and external stakeholders, and they are usually explained as the corporate communication combination (van Riel, 1995) as follow,
Management communication
Marketing communication
Organizational communication
Reputation
Corporate Personality Management Process;
Corporate Identity Home Evaluation Planned Cues
Management Organization &
Communication Marketing
Communications
Image
ResearchManagement Management & marketing
Communication Communication
STARTEGIC MANAGEMENT
Source: modified from Load (2002, P. 298)
Strategy Guru Grants (1996) advises four basic mechanisms which can help integrated communications at commercial level,
Rules and Directives - procedures, rules, guidelines, standardize information and communication systems
Sequencing and process design - organizing and documenting business processes
Organizational Regimens - establishing and reinforcing (education, training and documenting) exercises or protocols for managing situations
Group problem solving - establishing system for formal and informal mix disciplinary communication and collaboration
Different text catalogs have explained that organizations could be performed several seeks and purposes by taking care of an effective commercial communication. Such as,
To give material and transparency to the account of the "company behind the brand"
To communicate corporate and business identification and brand features in a way that actively helps the projection of the organizations ideal or desired identity
To mobilize inner and external support for the organization's objective and strategic objectives
To manage risks to the organization's permit to operate and / or particular strategic ideas, which may arise from drawback of internal / exterior support consequently of crisis impacting the organization's image and reputation
In Baurs healthcare viewpoint, it's been recognized that they used several communication tools in the organization communication process;
Corporate advertising
Direct marketing / personal selling
Sales promotions
Sponsorships
CSR
Public connection activity
1. 5 Benefits of integrated communication
Integrating corporate communication brings many perks to the organization;
Preserving the organization brand and improving reputation
Integrated communication can help organizations to ensure the consistency, enhance the strength and clarity of their commercial brand. When communication is integrated, the organization's employees can effectively become its "brand ambassadors" & reinforcing the business's desired brand image with the exterior world.
Managing problems situation
When a business drives through an emergency situation, communicating to all or any of its inner, external and linked stakeholders with one voice could very well be more critical than ever before. If the communication is included, corporate communication pros do not have to make decisions with blinders in an emergency scenario. So, their knowing of what is going on across the whole organization and industry becomes a crucial tool for handling communication when the pressure is on to provide description and information promptly.
Optimizing business outcomes
The success of a business measures by means of achieving desired business effects from specific organizational goals to the development of shareholder beliefs. Development of corporate reputation is one of the primary focuses of involved communication & means it creates the competitive good thing about the company. So, competitive benefits is the strategic drivers of organizations today where to improve the performance of the business.
Stakeholder engagement
Communication is always focusing on towards stakeholders and it creates an interactive dialogue between your organization and its internal & external stakeholders. If the communication is included, all the communication channels being centrally coordinated and the proposal with customers and other stakeholders are high.
1. 6 Current included communication tactics of Baurs Healthcare
Communications is an essential system of organizations today, where different messages are exchanged among its stakeholders through the common group of symbols. A Baur & Company Ltd is a well established and diversified firm in Sri Lanka, which represents in a number of business / industry segments. Baurs Healthcare is an effective and appearing business subsidiary of your Baur & Company today, which keeps a respected position in the pharmaceutical market in Sri Lanka.
It is important to understand the current framework of commercial communication at Baurs Medical care in order to recognize the amount of integration of their communication activities. Currently Baurs Healthcare doesn't have specific objectives and strategy about the integration of communication activities in conditions of improving corporate and business reputation, but organization uses different mix of communication tools that are concentrating on to establish and improve individual brand performance.
There is not any formal process to manage the organization reputation through different communication activities that are occurring. There's never been an effective management and monitoring system to route the info or a system to generate any opinions on the ongoing direct marketing & sales campaign activities, public relationship initiatives, CSR activities, sponsorships etc they are offering to the contemporary society and the health care profession. And also, it struggles to see any key performance signals are in spot to monitor any form of reputational activity that occurs.
With regards to the communication tactics of Baurs Healthcare, the company is moving away from mass media advertising ways to implementation of specific, targeted and even more focus immediate marketing efforts. The mass media advertising was regarded as viable at history, but today, the company has realized the advertising on television set and other mass media channels require high promotional budget and gives a minimal degree of immediate response and proposal with the stakeholders or unpredictable target audience. On top of that, in line with the government rules and regulations (i. e. Beauty, Devices and Drugs Work. on 1980) of the pharmaceutical industry in Sri Lanka the advertising of any pharmaceutical products or brands (except Program 1 items) on mass media channels, including tv set and radioetc is totally prohibited. Generally mass media advertising helps corporation just to create their corporate image & reputation, nothing for brand building or brand recognition.
Today, the organization has realized to utilize accurately targeted promotional tools, such as immediate marketing and personnel selling efforts are vital operations of Baurs Medical care of its marketing communication system. In the case of pharmaceutical business, organizations or their staff should have a direct & in person interaction / proposal with the clients (i. e. health care professionals - HCP's) due to the dynamics of product / services. So, personal offering could play a major role in conditions of connecting right communication to right customers. To be able to maximize the effects of personal offering, the business uses different branded promotional materials (i. e. Brand Detail Assists, Brand Reminders and Branded Compliments. etc) and Medical Reps conduct a face to face discussion (medical detailing session) and interactions with the mark customers (HCP's) because of their individual brands.
When it involves sales promotion, Baurs Medical could implements various promotional attempts in order to attain promotional objectives and to energize demand of the product among desired stakeholders. Marketing promotions is the procedure where building and retaining human relationships by persuading and informing a number of target audiences. To achieve this end, organizations tend to utilize a considerable level of resources on promotional work and it can help to enhance associations existing and potential prospects (Delight & Ferrel, 2006). When it targets to healthcare pros, such as doctors, nurses, chemistsetc the business uses sampling, discount / margins (inexpensive margin & retail margin), special bonus offer schemes and free offers for large acquisitions. Sampling is one of the standard & frequently using sales promotional tools by the business with the goal of getting them experienced & scientific exposure of these brands, when it focuses on to doctors. The benefit design & free offers are using to doctors & chemists as a brief term promotional tool.
The organization currently build relationships CSR (Corporate Public Responsibility) activities, such as donations, charity jobs with Red Cross Association, environment security assignments, etc to be able to establish and keep maintaining its corporate reputation. Most of CSR activities perform by themselves with its mother or father company of an. Baur & Co. Ltd at the corporate level.
Like other pharmaceutical organizations, Baurs Medical currently offering sponsorships to the health care experts in Sri Lanka. The organization entails for the Continuous Medical Education (CME) of physicians to get involved and execute local and overseas medical conference (i. e. Medical Conferences) and support to local healthcare associations to perform local occurrences and activities.
The built in communication offers a definite backup for the effective smoothing on the list of operations and coordination of the organization. A larger emphasis has been given in initiatives on helping people to find information and not merely for communication of information. The attempts of coordination and integration of most communication activities must be better by Baurs Medical care, which helps organization to have an improved financial performance to be able to create show holder ideals and long term sustainability of the organization.
The potential to develop and establish integrated communication within the surroundings of Baurs Healthcare
The potential role of growing a built-in communication is to convey a consistent message to customers and other stakeholders. Today, Baurs Medical care implements communication initiatives to teach customers have not necessarily conveyed a steady communication. Thus properly planned built in communication strategies are needed. So, effective built in communication approaches permit organization to maximum utilization of promotional and communication resources and build long run sustainable customer romance.
The potential to build up and establish a built-in communication procedure is recognized by the idea of "Common Starting Items (CSP)" in an organization. The producing CSP functions are usually more important to apply and to build an efficient communication within the organization (truck Riel, 1995). The concept of CSP identifies the construction to put into practice as a solution for the challenge of controlling the flexibility and integration in the business. In addition to CSP, organization can acquire few more methods to establish a approach of marketing communications, such as "Common End Point (CEP)" and "Common Process Guidelines (CPR)" and initiate a built-in communication a balance between centralization and decentralization of organizational integration is necessary (Christensen et al, 2008). This is graphically presented as follows.
Centralization and decentralization of organizational integration,
Source: Christensen et al (2008), Emerald article: The Organization of Integrated Marketing communications; Toward Flexible Integration. European Journal of Marketing
According to above diagram, the organization level marketing is also another important aspect to enhance the probable of developing built in marketing communications (John and Stephen, 2006). The multiple exchange relationships among systems and stakeholder groups is one of key characteristics of developing the corporate level marketing.
The other essential requirement in this regard is temporal aspect related to relationship. So, the potential of included communication will rely upon several factors (Christensen et al, 2008), such as,
availability of the corporate brand,
drivers assisting a commercial brand,
stakeholder expectation diversity,
current context of image (clarity vs. misunderstandings) and
communication experience and structural context (i. e. marketing framework, amount of centralizationetc)
Therefore the capability to incorporate the communication process is a powerful competency and it'll be a important in building the reputation of a business. So, the absence of integration in the external communication process of a business could bring about obvious bafflement on its commercial reputation.
Recommendations to create and improve integrated communication for Baurs Healthcare
This specifically section details some recommendations to improve integrated communication attempts at Baurs Healthcare in order to attain successful long-term business potentials. As identified and described early, Baurs Healthcare doesn't have proper strategies and action projects for built in communication at the organization level and below given are some advice as to the way the corporation can improve this specific facet of the communication.
Baurs Health care should experience a structural change, especially for marketing functions in order to improve the integration of communication efforts. Since the business currently stand for as an area distributor of several overseas healthcare providers, there is not a consistent and uniformity with their messages at the corporate level. Each organization offices work individually and communicate differently to its stakeholders regarding their product collection and services that they offer. But, ultimately whole organization (Baurs Medical) should position as an moral doctor of quality products / services at affordable prices. So, there should be a uniformity and uniformity of all their communication activities alone with the corporate communication to establish the required reputation. We would recommend creating a fresh position (General Administrator) for corporate communication to its existing marketing structure and every communication activities of every pharma business department should process through this person and they may be the contact person for advertising or any other external audience with regards to external communication. The proposed marketing structure as follows,
CEO
Director
Agri - Business
Director
Director
Textile Engeneering
Director
Export
Director
Healthcare
General Manager
Corporate Communication
Pharmaceuticals
Surgicals & Diagnostics
Nutrition
(Marketing Professionals in-charging of overseas healthcare suppliers / providers are confirming to the particular General Managers of every division)
As we discovered before, today the organizational communication activities leaving mass media programs. But we would recommend using certain type of media, specially print marketing as a communication tool. Since the organization is focused on health insurance and people, it is ideal to use certain medical medical and general population journals / mags to connect medical articles and disease understanding articles towards HCP's and public respectively. It helps organization to create a good image and reputation among its stakeholders.
Baurs Health care should take more attention to enhance public relationship (PR) activities to establish and maintain mutual beneficial and important relationships among business its stakeholders. Medical care professionals are fundamental decision makers / endorsers in the professional medical delivery system and organization should create a good image and reputation among them. This could be facilitated by offering sponsorships to carry out local and international medical education occasions (i. e. local and international medical congresses, meetings etc) and financial support to professional organizations, such as medical associations (Sri Lanka Medical Organizations - SLMA, Sri Lanka College of Medical professionals, Sri Lanka College of General Practitioners etc) to execute their medical incidents. Since the ultimate decision manufacturer to purchase a healthcare product is patients / general public, organization should execute some PR activities, such as general population events (medical treatment centers & donations, public forum for medical education, press conferences) and community building jobs to build and maintain mutual connections with them.
Personnel selling are the most effective communication tool in the health care market today, that involves in person discussions and relationships with HCP's. We'd recommend recruit / use experienced and experienced (communication) personnel (sales team) and technological promotional materials could be designed with localized campaign (local clinical data and magazines, local visuals / images / taglines) in order to add psychological appeals and sensible methods for the communication process. This enables organization to build up and maintain a solid relationship and positive reputation among its stakeholders.
Most of the existing CSR activities are handling through its father or mother company of your. Baur and Co. Ltd. and those aren't specific or highly relevant to the health attention business. Because the parent company delivering for various business sections and stakeholders will vary in the health care business, we would recommend initiating own CSR jobs by Baurs Professional medical focusing on to industry related assignments, such as donations and financial assist with conduct health clinics for rural and poor people, infrastructure development support for rural health systemetc.
Today, the sales advertising has been proven among the frequently using communication tool for almost all of the pharmaceutical company in Sri Lanka. This has noted that certain organization used to apply sales advertising in unethical manner by offering endless bonus and free goods to persuade healthcare experts (i. e. doctors, pharmacists & other stocking programs) to stock their brands. This led the industry to create a negative reputation among stakeholders. It is appropriate and recommending Baurs Healthcare to determine a standard benefit & free offer for each and every purchases & it ought to be properly communicated (transparent) to all or any the stakeholders on the market. It is best to incorporate with their Codes of Carry out (Specifications of Business Conducts) - SOPs of Sales and Promotional Activities and all employees should adhere this as an moral practice.
The current promotional code of the business is bit old and which was established in 1990. Most of guidelines and methods that are suggested in the code aren't practical rather than up-to-date. We would recommend to revise and up-date the promotional code for Baurs Medical and it is easier to get advised from skillfully developed and key thoughts and opinions leaders related to the pharmaceutical industry. The code of conducts should cover most of specific areas, such as moral promotions / communications, organizational integrity and transparency. etc. The designated position of General Manager - Corporate and business Communication should take the duty to revise and accountability to keep an eye on / evaluate regularly.
Baurs also needs to target attention on inner communication where in fact the employees are one of the very most powerful message exchanges in the communication process. Corporation should always inform and must aware to the inner personnel about new initiatives and any decisions are taking by the business before it communicates to outdoor stakeholders. We can utilize inside communication tools, such as intranet, internal memos, notice table, regular conferences / conferencesetc for this function and must settle their inquiries or objections then and there.
1. 9 Conclusions
Reputation is one of the very most vital elements to any corporation today, as it contributes to long-term financial performance and competitive benefit. Commercial reputation is associated with several factors and designed communication is the most essential factor in healthcare business. An effective communication plan comprising analyzing the current communication efforts, execution and managing of communication activities, monitoring the final results of those activities and additional developing could definitely helps Baurs Healthcare to develop and maintain a strong and sustained reputation among stakeholders.
Task 02 - White Newspaper (Words count up: 1, 850)
2. 0 "Corporate branding to improve corporate reputation"
2. 1 Benefits of developing corporate and business reputation,
Corporate reputation is an identity and acknowledgement of the business among its stakeholders and which gives many perks,
Improving competitive edge,
As defined by many writers, the positive reputation can enhance the competitive advantage of the company and its own brands. Good reputation will always causes customers to identify, recognize and choose the particular make of the relevant company over that of competitor's brand even though they are available at the same price.
Baurs Medical has been founded as an excellent and affordable drugs providers among healthcare specialists and patients, which enhances them to identify and select Baurs medicines on the same drugs from competition at the same price. They will also be happy to incur a premium to buy Baur's products because of the strong reputational accolades. This will likely also enhances brand understanding and build brand devotion, behaving as an accessibility barrier to new entrants and increasing pressure for existing competitors. This will contributes to the competitive advantage and the long-term sustainability of the organization and key judgment formers (medical professionals, i. e. doctors) will also want to be associated with Baur's brands and they used to recommend and endorse with their patients.
Increasing business performance,
Due to the strong and positive trustworthiness of trust and self-confidence for Baur's medications, customers (i. e. patients and HCP's - doctors) will usually prefer to get and recommend their brands. Then the sales and income of Baurs medicines will increase and the worthiness of company in the market place could be increased. This will causes boost the market talk about and talk about value of Baurs Healthcare and finally the business enterprise performance (income and shareholder value) of the organization could be increased.
Stakeholder proposal,
With the increased competitive advantage and business performance, the business could have the ability to provide a healthy share to its shareholders and increased value to its all stakeholders. And an optimistic reputation will also develop the mutual understanding and self-confidence between the company and its own stakeholders. This may brings about create a continuing interaction and engagement among them and because of this it helps to organization's promotional activities, such as brand placement, brand proposal and other endorsements.
Attracting and keeping quality and talent employees,
The organization's reputation is one of the key deciding factors in the job recruitment market. Everyone in the world today, prefers to become listed on and work in a local or global respected company in conditions of the identification and security of their jobs. So, respected companies will usually catch the attention of talent employees and maintain quality staff over time.
2. 2. Commercial branding,
Brand is 'a name, term, indication, mark or design or combo of them, designed to identify the goods or services of one seller or group of sellers, and also to differentiate them from those of competitors (in the perceptions of target people)' (Kotler et al, 1999).
Davies (1992) has been presented a model, which summarizing the various elements, functions or 'possessions' represented by way of a brand.
Six brand resources or elements,
Differentiation
(from rivals)
Psychic value
(image to home yet others)
Recognition
(recall of name and connection, familiar emblem)
The BRAND
Premium
(in money or time)
Registerable name
Transferability
(licence, brand expansion)
Source: Davies et al (1992)
Corporate brand could be thought as "a aesthetic representation of a company that unites several products or businesses, and makes it known to the globe through the use of single name, a distributed visual id, and a typical set of icons. The process of corporate branding involves the group of activities undertaken by the company to build favourable connection and positive reputation with both inner and external stakeholders" (truck Riel & Fombrun, 2007, Pg. 107).
In order for corporate and business branding to be efficiently implemented, there needs to be inner support among mature managers and employees. van Riel & Fombrun (2007), has been developed a model to examine the willingness of business product managers to make use of the organization brand in their communication.
Drivers of corporate branding,
Brand drivers Measures
Relatedness
Strategy
Support for
Corporate branding
Centralization
Organization
Identification
Values
Source: vehicle Riel & Fombrun (2007)
Corporate branding options,
Several writers have been referred to different options for corporate and business branding and few of them as follow,
2. 3. 1 Olins branding strategy;
Olins (1990) suggested an important typology of corporate and business branding strategy,
Monolithic strategy:
For instant acceptance, the whole company uses one visible style and icons everywhere which is ideal for companies, which have developed as included entities within a relatively small field. E. g. BMW, Shell, Sri Lanka Telecom
Baurs Healthcare may use this strategy to make a strong point of differentiation for its quality of products, which enables stakeholders to understand the corporate brand and differentiate it from competition.
Endorsed strategy,
Different subsidiaries and divisions have their own style & way to converse, but the father or mother company is obviously identified and recognizable. That is ideal for diversified companies, where divisions have distinctive culture and brands. E. g. Nestle, Standard Motors, L'O'real.
Since Baurs Medical care is a subsidiary of A Baur and Co. Ltd, endorsed strategy is an ideal way to talk to their aim for customers of medical care division.
Branded Strategy,
Different subsidiaries or divisions have their own style, without noticeable relationship to the other person or to the parent, which really is a company more or less unseen. E. g. Unilever
Different subsidiaries of the Baurs & Co. Ltd. can have their own design of communication without much spotting its parent or guardian company. This is a proper strategy in Baurs point of view, since their subsidiaries are in various business sections and their customers are also assorted.
2. 3. 2 truck Riel and Bruggen's corporate branding typology,
This model has been developed by vehicle Riel and Bruggen (2002) and detailed that there are two key factors needs to be considered in the organization branding decision. This strategy mainly focus on the amount to that your business device of the company are prepared and prepared to communicate they are area of the parent business and acknowledge starting point of the corporate branding strategy.
Medium Endorsement
Strong Endorsement
No Endorsement (STANDALONE)
Weak Endorsement
High
Agreement on
Parent visibility
Low
Low High
Agree on starting points
Source: vehicle Riel and Bruggen's corporate branding typology (2002)
2. 3. 3 Kammerer's Strategy,
Kammerer (1998) represents that there are four 'action types' in the inner implementation of corporate and business branding strategies. Such as for example,
Financial Orientation
The subsidiaries / portfolios are purely financial participants in the overall concern and retain their full identification and mother or father company does not interfere in strategies.
Organization-oriented corporate and business branding,
The parent company influences the culture and strategy of the subsidiaries or portfolios, but this is a kind of internal corporate and business branding, not direct visible to the outside world.
Communication-oriented corporate and business branding,
The subsidiaries are area of the father or mother company, which is evidently expressed by advertising and other visible identities.
Single company commercial branding,
Similar to monolithic branding, with integration of action, information and symbols over the whole matter.
2. 4 Potentials and recommendations of commercial branding for the improvement and better management of corporate and business reputation,
As explained in the last descriptions, commercial branding is one of the crucial tools for organizations for the development and improvement of its corporate and business reputation. In the idea of Baurs Professional medical, its corporate individuality and reputation is projected to drive through its corporate and business branding, depicted on its products, packaging and the prominent green color logo which brings an instant and memorable identification of the business among its stakeholders.
A recent survey carried out by Baurs Healthcare among their stakeholders had discovered that the business doesn't have a strong point of differentiation, is not popular and identified by its stakeholders and some their stakeholders have no idea of what the business dose to the population and also to other stakeholders. But having strong corporate and business branding strategies and implementations, group could have the ability to overcome the following barriers;
No strong point of differentiation,
Pharmaceutical market in Sri Lanka is highly competitive and price influenced, which is dominated by cheaper universal manufacturer signify from different area of the world (i. e. India, Pakistan, Thailandetc). Most of branded generic medicines are said that they clinically effective as same as original products from progressive manufacturers, such as GSK, AstraZeneca, Pfizer, Sanofi-Avantis etc at a cheaper price and generally original medications are established in the market as high quality, but premium price.
Baurs Medical care is a leading pharmaceuticals supplier in the market, which differentiates from other suppliers as quality drugs at affordable prices to patients which gratify both requirements of quality and price. So, company should emphasis more on their key differentiation factors and it is ideal to add it in their corporate branding strategies. This can help to Baurs Medical care to distinguish itself in the market and have a competitive advantage.
Not popular among stakeholders,
Since Baurs has been established in the country as agriculture structured organization, it is not well known of their healthcare business among its stakeholders (i. e. medical professionals, patients, general general public. etc). This can leads to a restricting factor for HCP's when recommending and prescribing Baurs medicines to patients. So, this could be overcome by creating and building a strong corporate and business brand image among its stakeholders.
Stakeholders do not know what Baurs will,
Baurs is one of the leading and strong socially focused organizations in Sri Lanka which conducts several commercial social dependable (CSR) activities throughout its carrier. Presently 25% of its annual profits (net revenue) is allocating for charity activities and tasks (through Red Cross Association) every year. In addition, Baurs bears out several CSR jobs yearly to the people and region for their bettermance and prosperity, i. e. since 2001 Baurs has been importing university furniture donated by academic institutions in the Canton of Zurich. These are being distributed usually in rural areas where Baurs is committed to the upliftment of facilities for the population in those areas. Also handicapped schools have been supported. Since the inception of this task, "over 60" "40 ft. " containers have been imported. The transport costs were borne by way of a. Baur & Co. (Pvt. ) Ltd. (Source: www. baurs. com/CSR)
But most of stakeholders have no idea those assignments and activities and as a result, many interpersonal / pressure communities intending to create a negative image to the public that the Baurs like other multinational organizations removes profits from the country without investing to make the country. So, A Baur and company should combine all of their CSR activities and assignments in its corporate and business branding strategies to set up as a socially liable organization in the country and which permits to create a strong and positive reputation among its stakeholders.
Political implications,
According to the federal government act. (Plastic, Devices and Drugs act. ), the promoting and exhibiting of any pharmaceutical brands to the general public is strictly prohibited. It is one of the main element obstacles in creating general public understanding about pharma brands in Sri Lanka.
By promoting and interacting Baurs Medical as a commercial brand could be the best solution in differentiating and establishing its products / brands in the intellects of customers between competition. An excellent corporate and business reputation will permits to truly have a psychologically positive popularity of brands and advantage over competition among stakeholders.
Financial outcomes,
Corporate communication is an expensive affaire gives the main way for corporate and business branding.
Conclusion,
Corporate brand can be an asset to the organization and considers as hard to construct, maintain also to adopt, for their brands and products offering to the marketplace is mixed up and cluttered. So, corporate and business branding is a crucial strategy for pharmaceutical companies today, which straight links to determine and maintain its corporate and business reputation among stakeholders. Because of the scientific and specialized nature of products / services in the pharma industry, customers and consumers have to be accepted and endorsed corresponding with their trust and assurance on relevant brands which is generally powered by the trustworthiness of the corporate and its brands.
Baurs being one of the leading healthcare providers on the market, it's important to construct its reputation through its commercial branding. Baurs medical care has been well established and respected as an moral and innovative healthcare provider among all stakeholders in the country which ensures to deliver its core identity of quality brands at affordable price to patients. This results organization to create a strong associations and permanent sustainability in the industry.
