2011 marketing lecture
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Professor Perri
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A salesperson? Advertising? Public relations? Buying an ad in the yellow
pages?
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Marketing: the process of exchangingsomething of value, usually money, forsomething you need or want
Key concepts: Needs
Wants and demand Value
Satisfaction
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In performing activities directed at
meeting peoples needs pharmacistsplay the role of apersonal marketer: Dispensing, OTC counseling, counseling patients, teaching
pharmacy students, performing a pharmacotherapy review
But, there is a mindset - I am a healthcare professional, not a fast talking usedcar salesman.
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Should HC be advertised? How do you know if you need surgery? You certainly dont learn this from an
ad. What about needing Nexium? Can you, should you, learn this from anad?
Credibility and experience Do YOUwant to be the FIRSTyour surgeon operates on?
Many patients have limited ability to differentiateservices and products Perhaps because we dont make the patients experience remarkable?
Hard to maintain quality encounter to encounter Some patient experiences go better than others.
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People and groups other than pharmacists are in control ofpharmacy. PBMs, Corporations, Government
We tend to focus too much on the prescription and not onthe service component (counseling) that is of most valueto the patient.
Balancing clinical and business roles.
The most trusted professional.. While this is true, people must expect very little.
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And the pharmacist shortage may be nearly over Changes in staffing and customer service
New technology and services Transient communities
1 in 5 customers move every year
College town?
Patient perceptions
I just love [insert your favorite doctor, pharmacist, pharmacy] and there issomeone whose experience is quite different.
Should pharmacists be able to influence this perception.?
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Advertising = providing information Pharmacists = provide information
So, It should be apparent we need to get the word out.
Recognize there will be differences in the way customersperceive advertising information.
Need to pay close attention to our marketing
philosophy.
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TOMA, but for whom?
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Markets, market segments and target markets, more on this in a coupleminutes, but first:
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Product Orientation
What do you have to sell
then sell it.
Marketing Orientation Find out what people
needthen createproducts to satisfy theseneeds.
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COMPANY PRODUCT ORIENTED MARKET ORIENTED
AOL WE PROVIDE ONLINE
SERVICES
WE CREATE CUSTOMER
CONNECTIVITY, ANYTIME
ANYWHERE
HOME DEPOT WE SELL TOOLS AND HOME
REPAIR EQUIP
WE PROVIDE ADVICE AND
SOLUTIONSNIKE WE SELL SHOES WE HELP PEOPLE
EXPERIENCE COMPETITION,
WINNING
REVLON WE SELL COSMETICS WE SELL MEMORIES,
HOPES, DREAMS
WAL MART WE RUN DISCOUNT STORES WE DELIVER LOW PRICES
EVERYDAY
GREYHOUND BUS WE MOVE PEOPLE FROM
POINT A TO B
WE BRING PEOPLE
TOGETHER
B&O RAILROAD WE MOVE MATERIALS EVEN WARREN BUFFET
COULDNT HELP THE RAILS!
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Develop marketing plan
This is a business plan that maps out an overall
strategy on how we will reach and meet ourcustomers needs, better than the competition.
Basically, how we will become Remarkable
Bottom line, must determine how to manipulate
the 4 Ps and 4 Is to maximize customersatisfaction.
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StrengthsWeaknessesOpportunities
Threats
ResourceAnalysis
Set MarketingGoals
DevelopMarketingStrategy
ImplementationEvaluation
The Marketing Process
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Market summary Define your product and set marketing goals
Identify and select target markets Establish competitive advantages Design and implement marketing strategies Evaluate success, revise and adjust plans
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Setting the stage: Strengths and weaknesses Opportunities and threats Legal considerations Social, ethical, political issues New technology
What is it that you think customers want the most? Is there anything about your idea, practice site,
pharmacy that is remarkable?
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Market: past, present, & future
Review changes in economic, political, legalissues, market share of competitors, other players,market shifts, costs, pricing, SWOT, etc.
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Early Adopters/
Pioneers
Mass Market/
Followers
End of Life
Time
Number
ofcustomers
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The competitivelandscape -SWOT
Provide an overviewof productcompetitors, theirstrengths andweaknesses
Position eachcompetitors productagainst new product
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STMH
YourPractice
CD
Performance
Price
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Individuals
PersonalCharacteristics
SituationalFactors
ProductQuality Service
Quality
PriceCustomerSatisfaction
Factors Affecting Customer Satisfaction:Does this product/service make them
happy and solve their problems?
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Describe product/service being marketed
What exactly is our product?
Think about this: When you go to buy a hair dryer what are
you really buying? Better looking hair, not a heat gun.
What are you buying when you purchase a prescription?
Determine the objectives we wish to reach
Number of patients per month?
Dollars of revenue?
Some measure of patient satisfaction, improvedoutcomes, quality of life?
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A process of:
Identifying customer needs
Figuring out just who your customers are What do they have in common
How can you meet these customers needs
Assessing and comparing various customer
groups to see who you want to target
Though Question: You cant be all things to all people, or can you?
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Market
All those who might need pharmacy care. Segment
Groups with similarities Demographics
Psychographics
Lifestyle
Pediatric, diabetes, HRT, gerontology, ambulatorycare, lipids, asthma, allergy
Target Market
Segment identified on which you wish to focus yourmarketing efforts.
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Homogeneous Group with similar needs, wants and demand
Accessible
Can be reached with available advertising Durable Will continue to be profitable in the future
Measurable You can learn about needs, tastes and preferences
easily Substantial Is a large enough group to justify entry into the
market.
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Who is the target market for yourimmunization program?
Travelers? Yearly flu-shots? Child & adolescents? Homogeneous?
Accessible?
Durable?
Measureable?
Substantial?
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HCTZ vs. Geodon
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The 4 Ps of productmarketing Price
level, value, convenience Place
Convenience, hours, delivery,charge, decor
Product Assortment, advice,
satisfaction Promotion
Product v. image oriented
The 4 Is of servicemarketing Intangible
It is a perception Inseparable
Tied to the bottle of pills
Not Inventory How many counseling sessions
do you have in you today? Individualized
Each patient encounter is goingto be differentthe patientand you
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Philip Kotler, Marketing Professional Services
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Wholesale and retail issues 3rdParty Reimbursement Prices
AWP, WAC, MAC, FUL, Cost-to-dispense, Professional fee, delivery fee,
administrative fee, generic incentive, acquisition cost?
Cash price Competition
Walmart $4
Insurance co-pays and price Credit
Visa, MC, Amex, Discover, in house credit accounts, discount cards
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Convenient location
Customer access to the pharmacy / pharmacist
Is on-line a consideration?
Is this even a place issue?
What about phones? (i.e., CVS Rapid Refill)
Attractiveness of the: External store Location
Layout inside the store
Delivery (and maybe even mail delivery)
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Possible Pharmacy CareClinic sites examined in
2001
Sketchy
$$$
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1500 square feet
Lab
Business office
Waiting area
Lavatory
Storage
3 patient exam / education rooms
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What is our product?
How do customers see it?
Is product the same for
everyone?
Think about needs, wants
and demand, how do thesefit with prescriptions?
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Tangible
Less Tangible
Bottle of pills
CokeCars
CosmeticsAdvertising
Teaching
Patient Counseling
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Some experts claim you dont have a fixedamount of service on the shelf in the
pharmacy. However, many pharmacists disagree and think there is a limit to how manypatients you can counsel in a day of work. It has been suggested to limitpharmacists work day to about 120-140 Rxes working with a single tech.
http://www.usalaw.com/articles/pharmacist-pharmacy-errors/pharmacist-workload---north-carolina-board-of-pharmacy.php
But it is true there is no fixed limit, andtechnically, they cant be counted.
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Advertising, public relations, personal selling and in-store promotions.
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Sell more existing product/services to current customers Market penetration
Sell existing products to new customers Market expansion
Sell new products to existing customers Development
Sell new products to new customers Diversification
The strategy you choose, will impact the decisions you makewith regard to the 4Ps and the 4 Is
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Strategy & execution
Overview of strategy Utilize existing patient base for office based appointments
Advertise to community for health screening activities Overview of media & timing
Newspaper, radio and cable TV ads
Overview of ad spending
$10K for 30-60 day campaign, with LIMITED newspaper ads (30spots on cable = $3000, 1 small ad in newspaper could cost ofthat!)
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Strategy & execution
PR strategies
PR plan highlights Have backup PR plan including editorial
calendars, speaking engagements, conference
schedules, etc.
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Direct marketing
Sales calls to other physicians / groups
Third-party marketing
Co-marketing arrangements with other
companies
US Wellness
Novartis State DHR
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Social Media
Is not the traditional unidirectional broadcast
paradigm that most marketers are used to. Use of
social media means you must understand how to
listen to and engage with users, continually
optimize and refine your message, and rapidly
adapt to changing technical and legal realities.
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Social Media
Listen
Twitter, Facebook
Keyword searches to identify blogs, wiki, informationabout the competition, industry, etc.
Both positive and negative: Actress, Jenny McCarthyclaimed her child became autistic as a result of avaccination. True? False? Does it matter?
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Engage You want to
make sure youcontrol your
content.
Monitor roguecontent.
Discussiongroups
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Engage:
Tools like Facebook, Twitter and YouTube provide greatplatforms to listen and engage people in discussions.
Unlike traditional broadcast advertising, social mediaallows marketers to measure the audience, and in somecases, the actual conversions that result from a campaign.
Interactions on Facebook and other channels often are
accompanied by rich and detailed user profiles. Marketershave visibility into the demographics, interests, andhistories of individual users on those channels.
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Depends on the product/service balance For any given product, there will be a unique
product/service mix and decisions need to be
tailored to each situation. Consider how decisions will be different for
each of the following: An OTC bottle of Geritol
The 33rdrefill of a patients HCTZ A new prescription for Lipitor
A new prescription for Lortab
First time oral contraceptive prescription
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The best product mix decisions are the onesthat meets our target markets needs.
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Lots of questions to ask:
When do we start?
Promotion budget
Detailed budget information
Will billing strategy be in place?
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Jan Feb Mar Apr May Jun July Sep Oct Nov Dec
Phase 1
Phase 2
Phase 3
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First year, second year, etc. goals
Numbers are good.
Specific, measurable and realistic?
Economic measures of success/failure Requirements for success
Personal satisfaction?
Financial considerations?
Patient health, contribution to the community and
society?
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18-month schedule highlights Timing
Isolate timing dependencies critical to success
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Jan Feb Mar Apr May Jun July Sep Oct Nov Dec
Task 2
Task 3
Task 4
Task 1
Milestone
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Hope you have a great spring break!
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