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Johnson & Johnson Brendan Batcheller, Maxwell Lynch, Carly RWM - Group 3: Johnson & Johnson Brendan Batcheller, Maxwell Lynch, Carly Lambertus, Madison Flotteron, Sammuel Kim, Yiwei Wang Final Written Report Addressing Revenue Losses Through Philanthropy RWM - Johnson & Johnson 2 Table of Contents Executive Summary 3 ​ Market and Firm Overview 4 Major SBU’s 5 Future Challenges for Johnson & Johnson 11 Future Opportunities for Johnson & Johnson 12 Financial Analysis 13 Identified Business Challenge 15 Recommended Response 18 Conclusion 21 Works Cited 22 RWM - Johnson & Johnson 3 Executive Summary Johnson & Johnson is currently facing strong declines in revenue and many of their high revenue-generating pharmaceuticals will be expiring in the next year. Therefore, J&J's current financial future is not promising. The company is thus faced ​ with a revenue problem. Our thorough analysis of Johnson & Johnson, as well as the current markets it faces, sheds light onto how the company may be able to succeed beyond a pharmaceutical-heavy revenue stream. Through this document, we expand upon Johnson and Johnson’s current market and firm standing, the financial analysis, the challenges associated with our financial analysis, and our recommended response to the challenge. Our goal is to highlight the philanthropic work Johnson and Johnson does across the world through post-purchase consumer interaction, as well as a strong marketing campaign. Though there are high upfront costs to develop a consumer-interaction game as well as an advertising campaign, we believe the consumer goods division of Johnson and Johnson has the highest potential to grow. By creating a higher brand perception of Johnson and Johnson, consumers will be more likely to remain loyal to the brand and consistent to their slogan, “for all you love.” We go about proposing to solve these challenges through the lense of a consulting agency, who is presenting with the hopes of being hired by Johnson & Johnson to implement our proposed solution. RWM - Johnson & Johnson 4 Market and Firm Overview In 1886, three brothers, Robert, James, and Edward Johnson, founded Johnson and Johnson in New Brunswick, New Jersey. Now, Johnson & Johnson is a family of companies of over 250 consumer healthcare products, medical devices, and pharmaceutical companies. Johnson and Johnson has locations in 60 countries, yet retains its headquarters in New Brunswick, NJ, USA (“Company Structure”). In 2015, Johnson & Johnson totaled $70.0 billion in revenue and $15.4 billion in profit (“Fry”). Additionally, many of the products Johnson & Johnson sell are created and researched by the company itself. In 2015, 12.9% of sales was invested into research and development (“J&J Annual Report”). Examples of companies included in Johnson & Johnson are: Acuvue, Aveeno, Band-Aid, Benadryl, Clean and Clear, Listerine, Lubriderm, Neutrogena, Motrin, Splenda, Tylenol, and many other brands (“Consumer Healthcare Products”). Firm’s mission statement Caring for the world, one person at a time... inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and wellbeing of people. Employees of the Johnson & Johnson Family of Companies work with partners in health care to touch the lives of over a billion people every day, throughout the world (“Our Company”). RWM - Johnson & Johnson 5 Major SBU’s Johnson & Johnson owns several SBU’s in three different sectors of the market. The first sector, consumer healthcare products, includes companies like Clean & Clear, Neutrogena, Aveeno, Band-Aid, Neosporin, Listerine, Tylenol, Motrin, Benadryl, and Lactaid. The second sector, medical devices, includes companies like Acuvue, LifeScan, Inc., Biosense Webster, Inc., and Ethicon. The final sector, pharmaceuticals, includes only one company, Janssen (“Consumer Healthcare Products”). Although the pharmaceuticals division is the least known to consumers, it is the source for a majority of Johnson & Johnson’s revenue, however, it is also the most volatile of their divisions. A major industry challenge that pharmaceutical corporations face are government/political legalities. Johnson & Johnson operates inside numerous countries and collaborates with their respective governments. By supplying medications and healthcare products in these countries, the company must consider foreign regulations and policies, and negotiate with governments to receive appropriate permission. The company must also remain attentive to the shift of individual country’s specific policies to prevent legality issues. In addition to that, selling healthcare products in another country could lead to unforeseen implications. Two countries may have different standards for the results and side effects of the same medicine. It is difficult for multinational pharmaceutical corporations to please all. RWM - Johnson & Johnson 6 To analyze the impacts Johnson & Johnson has accross multiple industries and fields, we have outlined individual aspects the company focuses on. 1. Social: Johnson & Johnson has to consider people’s needs for healthcare products and medicines based on many factors. Some of these factors include age, wage, physical condition, occupation, and even preference. Also, Johnson & Johnson should focus on different kinds of diseases by doing more research and developing new and effective medicines to expand it’s market share. People are always caring about health issues, which is why Johnson & Johnson must keep up its current work. 2. Technological: Johnson & Johnson always spends parts of its revenue on researching and developing new products. New technologies are desperately needed in the health field, which is why Johnson & Johnson should keep putting emphasis on research and development work. Johnson & Johnson’s leadership in medical devices and diagnostic segments enables the company to make breakthroughs in new technological fields. 3. Economic: The economic environment is an important factor for Johnson & Johnson to analyze and predict its future challenges and opportunities. The world economy is currently rising out of a recessionary period. Johnson & Johnson was not as affected by the recession nearly as hard as other companies did, however, the company must still find a balance between the cost of their consumer goods and what their consumers are able to pay for those goods. RWM - Johnson & Johnson 7 4. Sustainability: As many people in developing countries still suffer from diseases, poverty, and hygiene problems, Johnson & Johnson has spent a good portion of its revenue to launch philanthropic programs that attempt to alleviate and solve these social and economic inequalities. Johnson & Johnson uses its expertise in healthcare products and medicines to provide benefits to people who have such needs. According to its Citizenship and Sustainability annual report, Johnson & Johnson has launched more than 170 programs in over 60 countries. According to DoubletheDonation.com, Johnson & Johnson donates 1% of all pre-tax profits to charitable organizations, making them one of the world’s lead philanthropic companies. The three major SBUs for Johnson & Johnson includes Tylenol, Neutrogena, and Band-Aid. We have broken down these three SBUs by five factors: market description, market size and growth trends, market share, segmentation, and competitors. Tylenol - SBU1 Tylenol is classified as a nonprescription drug, under the pharmaceutical umbrella of health care. Tylenol is the number one selling branded product in the Health and Beauty Aid category (https://www.tylenol.com/news/about-us). It began as an alternative pain-relief product that was aspirin-free, which was beneficial to many who were weary of internal bleeding caused by it. Tylenol now owns a multitude of different products under the brand including Tylenol Extra Strength, Arthritis, Cold & Flu, and Children’s Tylenol. Tylenol has grown to be a leader in analgesics (pain RWM - Johnson & Johnson 8 relief drugs). Analgesics makes up around 13% of the overall pharmaceutical market. Johnson & Johnson is a leader in all fields of the pharmaceutical market, however, the company’s different products and brands which fall under the analgesic category allow it to have a strong market share (Statista). According to Statista, the brands which fall under Johnson & Johnson’s umbrella makeup 33.3% of the market share for over-the-counter pain relief in the United States. The Tylenol brand consists of four different segments of the top ten brands for over-the-counter pain relief, totalling 33.3% of the market. Tylenol positions itself as a family product, with a slogan as “for what matters most.” It brands itself as a product that allows families to be together, longer, and to live happily and healthy. It focuses on age brackets that are more often than others vulnerable: children and the elderly. Johnson & Johnson’s direct competitor in the market of over-the-counter pain relief drugs is Pfizer. Pfizer owns Advil which has a large market share and only trails Tylenol and its subsidiary brands by a small amount. A strength of Advil is its proven potency and consistency as a product, however, its weakness lies in that is it primarily branded as an adult medication. Tylenol’s strength is its consumer loyalty and large array of different products offered. Band-Aid - SBU2 Band-Aid is one of the leading brands of bandage products. Many people often call ​ a bandage a Band-Aid because it is a widely known brand. Often times when someone gets a cut, they generally ask for
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