Finals Mod 5-8 Flashcards
key success factors in marketing effectiveness & continuing market leadership:
- high quality product beyond reasonable doubt;
- well-oiled sales and marketing organization responsive to the dynamics of a fast- changing environment
- well-balanced marketing plan that indicates what the strategic actions are to be accomplished, and how they are to be accomplished.
Exhibit 1
Outline for Preparing an Annual Marketing Plan
A summary of the strategic situation for the planning unit (business unit, market segment, product line, etc.).
Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets
Strategic Situation Summary
Define and describe each market target, including customer profiles, customer preferences, and buying habits, size and growth estimates, distribution channels, analysis of key competitors, and guidelines for positioning strategy.
Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets
Market Targets- Description
Set objectives for the market target (such as market position, sales and profits). Also, state objectives for each component of the marketing program. Indicate how each objective will be measured.
Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets
Objectives for the Market Targets
State how management wants the firm to be positioned relative to competition in the eyes and minds of the buyer.
Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy
Set strategy for new products, product improvements, and product decisions.
Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions
Product Strategy
Indicate the strategy to be used for each distribution channel, including role of middlemen, assistance and support provided, and specific activities planned.
Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions
Distribution Strategy
Specify the role of price in the marketing strategy and
the planned actions regarding price.
Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions
Price Strategy
Indicate the planned strategy and actions for advertising, publicity, personal selling, and sales promotion.
Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions
Promotion Strategy
Identify information needs and planned projects, objectives, estimated costs, and timetable.
Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions
Marketing Research
Specify the responsibilities and activities of the departments that have an important influence upon the planned marketing strategy.
Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions
Coordination with other business functions
Forecast sales and profit for the marketing plan and set the budget for accomplishing the forecast.
Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets
Forecasts and Budgets
Indicate plan of action if events differ from those assumed in the plan.
Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets
Contingency Plans
This portion of the plan includes the following: market definition and its important characteristics, size estimates, and growth projections. Market segmentation identifies the segments considered for targeting by management.
Contingency Plans
Forecasts and Budgets
Market Targets- Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy
Strategic Situation Summary
The _______ indicates the key competitors (actual and potential), their strengths and weaknesses, probable future actions, and the organization competitive advantages, in each segment of interest. Supporting information for the summary may be placed in an Appendix or separate analysis.
Competitor Summary
The planning information includes a clear definition of each target, size and growth rate, description of end-users, positioning strategy guidelines, and other available information useful in planning and implementation. Targeting priorities should also be indicated by management to aid in resource allocation.
Contingency Plans
Forecasts and Budgets
Market Target Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy
Market Target Description
This part of the plan spells out what the plan is expected to accomplish during the year. Some objectives may extend beyond one year into the future, and should also be shown in the Annual Plan. Objectives should be stated for each market
target: financial market position, or customer satisfaction achievements. All these should be quantified. Objectives should also be included for each component of the marketing
program: positioning strategy portion of the plan, the mix results that move the strategy toward the market target
objectives. Objectives form a hierarchy ranging from very broad corporate objectives to the specific objectives of a salesperson.
Contingency Plans
Forecasts and Budgets
Market Targets- Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy
Objectives for the Market Targets
The positioning statement indicates how the firm would like to be perceived in the eyes and minds of targeted customers and prospects. The positioning concept may be functional, symbolic, or experiential. Specific strategies for product distribution, price and promotion are detailed in this part of the plan. Actions to be taken, responsibilities, time schedules, and other implementation information should be included in the plan.
- When more than one market target is involved, the positioning strategy discussions can be divided into two
parts:
- (1) the marketing mix actions that apply to all targets,
- (2) those mix actions that are unique to a specific segment.
Contingency Plans
Forecasts and Budgets
Market Targets- Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy
Marketing Program Positioning Strategy
Contingency plans may be included in the positioning section of the Annual Plan, or in a separate section. The contingencies consider possible actions if the anticipated planning environment is different from what actually occurs. The
turbulent business environment makes it difficult to forecast future events. The planner should evaluate how the marketing strategy will be changed if the future is different than
anticipated. Actions for major contingencies should be included in the plan.
Contingency Plans
Forecasts and Budgets
Market Targets- Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy
Contingency Plans
Marketing financial planning consists of forecasting revenues and profits and estimating the expenses necessary to carry out the marketing plan. The executives responsible for
market target, product, geographical area, or other units may prepare the forecast. Comparative data on sales,
profits, and expenses for prior years provide the useful link to previous results. If plans are developed for several similar organizational units such as products, budgets may be consolidated at a higher organizational level.
Contingency Plans
Forecasts and Budgets
Market Targets- Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy
Forecasts and Budgets
Exhibit 2
ANNUAL MARKETING PLAN
Exhibit 3
Marketing Plan Format Outline
Exhibit 4
The Contents of a Marketing Plan
Exhibit 5
Essentials of a Marketing Plan Format
Exhibit 6
Highlights of THE MARKETING PLAN FORMAT
Determine sales volume, gross profit, gross margin, net profit, and market share
Objectives
Sales History
Market Share Trends
Objectives
total market size, your peso sales, your peso market size.
Objectives
Sales History
Market Share Trends
Sales History
your market share, first to 4th major competitors, others.
Commentary
Price Comparison
Market Share Trends
Market Share Trends
Give an overview of major events, trends, and competitive
developments over the last two years leading to your current market positions.
Commentary
Competition
Sales History
Commentary
List major competitors and how you judge their current position, including significant strengths and weakness.
Commentary
Competition
Sales History
Competition
Show comparison chart continuing your and your competitor’s prices.
Commentary
Price Comparison
Market Share Trends
Price Comparison
Describe your problems and opportunities, present and future.
Problems/ Opportunities
Positioning Statement
Where will the Business Come From?
Problems/ Opportunities
Cite major thrusts for next year, tactics you will be using.
Major Thrust
Cite minor thrusts for next year.
Minor Thrust
Present positioning statements which describe how your company views a product or service
Problems/ Opportunities
Positioning Statement
Where will the Business Come From?
Positioning Statement
Detail all tactics you plan to implement.
Key Risks
Tactics
Timetable
Tactics
Justify your sales projections to be reasonable and adaptable.
Problems/ Opportunities
Positioning Statement
Where will the Business Come From?
Where will the Business Come From?
List timetable to be able to refer to, throughout the year.
Key Risks
Tactics
Timetable
Timetable
Identify major key risks of your plans.
Key Risks
Tactics
Timetable
Key Risks
Exhibit 7
The Components of a Marketing Plan
Exhibit 8
Annual Marketing Plans
the master blueprint, the “game plan” , the “bible,” the
“battle plan” for a year’s marketing activity for the given business unit, a division, a subsidiary, or product or group of products.
Annual Marketing Plan`
The two key marketing factors about the product audit:
market growth and market share.
Exhibit 9
The Marketing Plan
Exhibit 10
PRODUCT PLAN FORMAT
4-Step Process in STRATEGIC MARKETING PLANNING:
Conduct a Situation Analysis
Determine Marketing Objectives
Select Target Markets and Measure Market Demand
Design a Strategic Marketing Mix
Exhibit 11
Exhibit 11
Recommended Pharmaceutical Marketing Plan
Product X
Exhibit 12
BRAND POSITION REPORT
Exhibit 13
BRAND REVIEW BRAND X
Exhibit 14
DIRECTIONAL PLAN
Exhibit 15
Framework of a Marketing Plan (Pharmaceuticals)
Exhibit 16
BRAND X 1995 MARKETING PLAN (Pharmaceuticals)
Exhibit 16
BRAND X 1995 MARKETING PLAN (Pharmaceuticals)
Exhibit 17
STEPS TO EXECUTE AND CONTROL BRAND PROGRAMS
Size and growth; market penetration, regionality; seasonality; segmentation; market share trends; shifts in consumer
attitudes, buying behavior, etc.
THE MARKET
CONSUMER
COMPETITIVE ACTIVITIES
Product, pricing, promotions, distribution; terms of sales, discounts, deals; competitive advertising, and other developments; by type of outlets and therapeutic categories.
THE MARKET
CONSUMER
COMPETITIVE ACTIVITIES
COMPETITIVE ACTIVITIES
set of new 4Ps:
predictive modeling/analysis, personalization, peer-to-peer networking, and participation.
Old 4Ps:
Product, price, place, promotion
predictive modeling and personalization.
controlled/uncontrolled
controlled
the process of data mining using statistical techniques. allows marketers to use, or optimize, variables (predictors) that are likely to influence future behavior or results.
Personalization
Predictive Modeling
Predictive Modeling
technology allows pharmaceutical marketers to intercept rather than react to consumer situations and create relevance at decision points. It allows marketers to optimize marketing channels and investment.
Personalization
Predictive Modeling
Personalization
peer-to-peer and participation.
controlled/uncontrolled
uncontrolled
peer-to-peer and participation.
controlled/uncontrolled
uncontrolled
the most disruptive force to brands as consumers and professionals now have amplified license to frame brands and
critical information. As a result of regulatory constraints and governance, pharmaceutical companies often must remain passive in this channel.
PARTICIPATION
Peer-to-Peer (Socialization)
Peer-to-Peer (Socialization)
The final new four P, equates to consumers defining and driving what the brand means to them, often in public forums. An individual can discuss product attributes with a global audience instantly and inexpensively.
PARTICIPATION
Peer-to-Peer (Socialization)
PARTICIPATION
Advertised OTC drugs created a two-tier market system:
proprietary/advertised brands (without prescriptions)
ethical brands (with prescriptions)
hybrid of ethical branded products that are not normally advertised in radio, TV, or print media (except for United Home Products.)
Branded generics
Types of Advertising:
Informative Advertising
Persuasive Advertising
Comparison Advertising
Reminder Advertising
Reinforcement Advertising
Paid non-personal presentation. promotion of ideas and products by an identified sponsor. it can be done through radio, television or print media.
ADVERTISING
ADVERTISING
use of nonpersonal contact tools (mail, telephone, email) to communicate with current customers and prospects. The goal is to solicit an immediate response.
DIRECT MARKETING
short-termincentives given to trade channels or end-users. The purpose is to encourage trial or purchase of a product, goods or services.
SALES PROMOTION
It involves a variety of programs and projects. aim to promote and protect a company’s image or products.
PUBLIC RELATIONS AND PUBLICITY
Face-to-face interaction with one or more prospective buyers/closing a sale.
PERSONAL SELLING
they will not notice all of the stimuli
SELECTION ATTENTION
SELECTION DISTORTION
SELECTIVE RECALL
SELECTION ATTENTION
they will twist the message to hear what they want to hear
SELECTION ATTENTION
SELECTION DISTORTION
SELECTIVE RECALL
SELECTION DISTORTION
they will retain in permanent memory only a small fraction of
message that reach them
SELECTION ATTENTION
SELECTION DISTORTION
SELECTIVE RECALL
SELECTIVE RECALL
for pharmaceutical healthcare products, they can be individuals, groups, or healthcare professionals.
Target audience
IMAGE ANALYSIS
Target audience
process of evaluating a target audience’s perceptions, beliefs, and feelings about a product or brand. assessing the emotional connection that consumers have with the product.
Target audience
IMAGE ANALYSIS
IMAGE ANALYSIS
1.PrintMedia
2.ElectronicMedia
3.Display
NON-PERSONAL/PERSONAL COMMUNICATIONS CHANNEL
NON-PERSONAL COMMUNICATIONS CHANNEL
- Advocate Channels
- Expert Channels
- Social Channels
NON-PERSONAL/PERSONAL COMMUNICATIONS CHANNEL
PERSONAL COMMUNICATIONS CHANNEL
