The Company Chosen For This Paper Assignment: Amgen Jack Tro ✓ Solved

The company chosen for this paper assignment: Amgen Jack Trout

The company chosen for this paper assignment is Amgen. Jack Trout and Al Ries brought the concept of positioning into the marketing mainstream with their book, Positioning, the Battle for Your Mind, published in 1980 and since updated several times. They define positioning as the mental short list that a consumer has in her mind when she starts to think about shopping for something. Your brand should have a position somewhere on that list, as close to the top of it as possible. If you are not on the list at all, your brand will probably not be considered.

This mental shortlist typically includes about 5 to 7 items and often shorter, almost never longer. For instance, when consumers consider buying a new car, they think about choices they are already familiar with and which stand out from the crowd. The authors argue that marketers must make their brands seem different from competitors in ways that the intended target audience deems important and preferable. "Positioning" then becomes a process of summarizing the brand to make it memorable and likable. Often, this is captured in a single phrase or sentence, such as BMW's "Ultimate Driving Machine" or Disney's "Where dreams come true."

Brands may employ multiple approaches to create a brand image that communicates a message to differentiate them from competitors. For example, Volvo is perceived as a very safe car that protects occupants in cases of accidents. Recently, Subaru has begun using a similar stance, making it appear as a "me too" brand in a category pioneered by Volvo. For this paper, you need to pick a Fortune 500 company, discuss its positioning, and the tactics/actions it employs to cement this positioning in consumers’ minds. Ensure that the company choice is unique, as the first person to select a company "owns" that example.

Expectations for the paper include a length of 5 to 9 pages, excluding the title page, executive summary, reference list, and any appendices. Follow APA formatting guidelines. Note that using correct APA formatting is worth 10% of the total grade, so compliance is crucial. For clarity on Executive Summaries, refer to provided articles and resources on APA style in the course summary.

Utilize the writing tutor to enhance your paper before submission for grading.

Paper For Above Instructions

Amgen: Positioning and Marketing Tactics

Amgen Inc. is one of the world’s leading biotechnology companies, founded in 1980, and has established a strong market presence by focusing mainly on innovative therapeutic solutions for serious illnesses. The positioning strategy of Amgen revolves around the key concept of being a pioneer in biotechnology, emphasizing its dedication to life-saving therapies. This paper discusses Amgen's positioning, the tactics it employs to achieve that positioning, and the impact of these strategies on its market rapport.

Positioning is critical for Amgen, as it operates in a highly competitive biotechnology and pharmaceuticals sector. The company is positioned as an innovator in biotechnology, producing drugs that significantly improve the quality of life for patients with complex illnesses. The mental shortlist of consumers considering biological medicines often includes Amgen due to its focus on innovation and patient care. When patients and healthcare professionals contemplate treatment options, they frequently think of Amgen first due to its successful development of groundbreaking therapies.

Amgen’s tagline, "Transforming the Promise of Science into Solutions for Patients," encapsulates its mission and translates its identity into a memorable phrase. This tagline positions Amgen as a forward-thinking, patient-centered company committed to leveraging science for better health outcomes. Such positioning is reinforced by the company’s substantial investment in research and development (R&D), which averages around $4 billion annually, illustrating a commitment to innovation (Amgen, 2023). This reputation for scientific excellence makes Amgen a top choice among healthcare providers and patients alike when considering therapeutic options.

Another significant aspect of Amgen’s positioning strategy is its commitment to patient-centric marketing. The company focuses on building relationships through educational initiatives and informative campaigns. By sharing compelling stories about patients who have benefited from its therapies, Amgen enhances its brand image and reinforces its position as a leader in addressing critical health challenges. Such narratives resonate with both patients and healthcare providers, fostering trust and credibility (Nielsen, 2022).

Amgen has also successfully utilized partnerships and collaborations for its positioning strategy. By aligning with various healthcare organizations and academic institutions, Amgen can position itself as a leading entity in the collaborative pursuit of innovative healthcare solutions. These partnerships have resulted in advancements in treatments and have created a broader ecosystem of support surrounding Amgen’s products. For instance, collaborations with universities for clinical trials enhance its credibility and position as a pioneer in biopharmaceutical research (Johnson & Johnson, 2020).

Digital marketing strategies greatly contribute to Amgen's effective positioning. The increased reliance on digital channels allows Amgen to communicate directly with its target audience, including healthcare professionals, patients, and caregivers. Through targeted social media campaigns and informative websites, Amgen engages consumers and provides relevant health information, further solidifying its position in the biotechnology market (Sharma, 2021).

Amgen’s positioning is also supported by its focus on patient safety and efficacy of treatments. Initiatives that communicate the safety profiles of its medications help to establish trust with consumers and healthcare professionals. By ensuring that their product offerings are based on solid clinical evidence, Amgen creates a supportive environment for its brand, helping consumers and prescribers feel confident in choosing its therapies over those of competitors (Smith & Jones, 2022).

Moreover, Amgen’s positioning is complemented by its corporate social responsibility (CSR) efforts. The company's commitment to sustainability and ethical practices resonates with both consumers and healthcare stakeholders, giving it a competitive edge. By focusing on social impact, such as patient access to therapies and environmental stewardship, Amgen reinforces a brand image that aligns with the values of modern consumers (Global Reporting Initiative, 2023).

In conclusion, Amgen's positioning in the biotechnology sector is crafted through a strategic blend of innovation, patient-centric marketing, partnerships, digital engagement, product safety, and corporate social responsibility. This multifaceted approach ensures that Amgen maintains a critical position on the mental shortlist of healthcare providers and patients alike, as they consider therapeutic options for serious health conditions. By consistently communicating its core message and leveraging its strengths effectively, Amgen not only secures its place in the market but also builds an enduring legacy as a pioneer in biotechnology.

References

  • Amgen. (2023). Annual report. Retrieved from amgen.com
  • Global Reporting Initiative. (2023). Sustainability report 2023. Retrieved from globalreporting.org
  • Johnson, P., & Johnson, R. (2020). The impact of academic partnerships in biotechnology. Journal of Biopharmaceuticals, 15(4), 305-319.
  • Nielsen. (2022). The evolving landscape of patient-centric marketing. Retrieved from nielsen.com
  • Sharma, A. (2021). Digital marketing strategies in healthcare: A Fresh Approach. International Journal of Healthcare, 29(2), 175-190.
  • Smith, D., & Jones, M. (2022). Trust and Product Safety in Pharmaceutical Marketing. The Pharmaceutical Journal, 35(1), 52-58.
  • Smith, A. (2019). Brand positioning in the pharmaceutical sector: Key Strategies. Marketing Health Services, 35(3), 188-198.
  • Thompson, G. (2020). Corporate Social Responsibility in Biotech: A Survey of Industry Practices. Biotechnology Advances, 38, 107313.
  • White, R. (2021). The importance of effective branding in biotechnology companies. Journal of Brand Management, 28(5), 525-542.
  • Williams, J. (2022). Consumer perception in pharmaceuticals: A comparative analysis. Health Marketing Quarterly, 39(2), 127-144.

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