Challenging problem-hard drive malfunction

Hey Everyone
I am facing a bit of a problem with my hard drive- a little history first

I am working on a Windows 7 pro 32 bit laptop. I own a Transcend 320 GB external hard drive. Shortly after I bought the hard drive it stopped functioning, I think it was unplugged without 'safely removing it'. I tried everything but it wouldnt work, so I used a variety of data recovery programs (dont ask me which ones it was a whole bunch) in an attempt to recover some of the files, and got a lot of Raw data recovered

Yesterday I plugged it in to reformat the thing but my computer wouldnt recognize it. When I tried to reformat it would immediately say 'Windows was unable to reformat it' or something like that.

I opened Disk Management and tried from there, but I encountered the same problem.

So I subsequently clicked on "Delete Volume"

Now the drive shows as Disk 1, Not initialized, unallocated. I click on it to "Initialize Disk" but I get a window Virtual Disk Manager that says "Data error (cyclic redundancy check)"

What do I do? All I want is to format the thing so I can use it again
Someone please help.