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Pharmaceutical Marketing & Entrepreneurship > Finals Mod 5-8 > Flashcards

Finals Mod 5-8 Flashcards

1
Q

key success factors in marketing effectiveness & continuing market leadership:

A
  1. high quality product beyond reasonable doubt;
  2. well-oiled sales and marketing organization responsive to the dynamics of a fast- changing environment
  3. well-balanced marketing plan that indicates what the strategic actions are to be accomplished, and how they are to be accomplished.
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2
Q

Exhibit 1

A

Outline for Preparing an Annual Marketing Plan

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3
Q

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

A

Strategic Situation Summary

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4
Q

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

A

Market Targets- Description

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5
Q

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

A

Objectives for the Market Targets

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6
Q

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

A

Marketing Program Positioning Strategy

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7
Q

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

A

Product Strategy

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8
Q

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

A

Distribution Strategy

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9
Q

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

A

Price Strategy

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10
Q

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

A

Promotion Strategy

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11
Q

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

A

Marketing Research

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12
Q

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

A

Coordination with other business functions

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13
Q

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

A

Forecasts and Budgets

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14
Q

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

A

Contingency Plans

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15
Q

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

A

Strategic Situation Summary

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16
Q

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.

A

Competitor Summary

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17
Q

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

A

Market Target Description

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18
Q

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

A

Objectives for the Market Targets

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19
Q

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

A

Marketing Program Positioning Strategy

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20
Q

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

A

Contingency Plans

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21
Q

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

A

Forecasts and Budgets

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22
Q

Exhibit 2

A

ANNUAL MARKETING PLAN

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23
Q

Exhibit 3

A

Marketing Plan Format Outline

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24
Q

Exhibit 4

A

The Contents of a Marketing Plan

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25
Q

Exhibit 5

A

Essentials of a Marketing Plan Format

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26
Q

Exhibit 6

A

Highlights of THE MARKETING PLAN FORMAT

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27
Q

Determine sales volume, gross profit, gross margin, net profit, and market share

Objectives
Sales History
Market Share Trends

A

Objectives

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28
Q

total market size, your peso sales, your peso market size.

Objectives
Sales History
Market Share Trends

A

Sales History

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29
Q

your market share, first to 4th major competitors, others.

Commentary
Price Comparison
Market Share Trends

A

Market Share Trends

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30
Q

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

A

Commentary

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31
Q

List major competitors and how you judge their current position, including significant strengths and weakness.

Commentary
Competition
Sales History

A

Competition

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32
Q

Show comparison chart continuing your and your competitor’s prices.

Commentary
Price Comparison
Market Share Trends

A

Price Comparison

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33
Q

Describe your problems and opportunities, present and future.

Problems/ Opportunities
Positioning Statement
Where will the Business Come From?

A

Problems/ Opportunities

34
Q

Cite major thrusts for next year, tactics you will be using.

A

Major Thrust

35
Q

Cite minor thrusts for next year.

A

Minor Thrust

36
Q

Present positioning statements which describe how your company views a product or service

Problems/ Opportunities
Positioning Statement
Where will the Business Come From?

A

Positioning Statement

37
Q

Detail all tactics you plan to implement.

Key Risks
Tactics
Timetable

A

Tactics

38
Q

Justify your sales projections to be reasonable and adaptable.

Problems/ Opportunities
Positioning Statement
Where will the Business Come From?

A

Where will the Business Come From?

39
Q

List timetable to be able to refer to, throughout the year.

Key Risks
Tactics
Timetable

A

Timetable

40
Q

Identify major key risks of your plans.

Key Risks
Tactics
Timetable

A

Key Risks

41
Q

Exhibit 7

A

The Components of a Marketing Plan

42
Q

Exhibit 8

A

Annual Marketing Plans

43
Q

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.

A

Annual Marketing Plan`

44
Q

The two key marketing factors about the product audit:

A

market growth and market share.

45
Q

Exhibit 9

A

The Marketing Plan

46
Q

Exhibit 10

A

PRODUCT PLAN FORMAT

47
Q

4-Step Process in STRATEGIC MARKETING PLANNING:

A

Conduct a Situation Analysis
Determine Marketing Objectives
Select Target Markets and Measure Market Demand
Design a Strategic Marketing Mix

48
Q

Exhibit 11

A

Exhibit 11
Recommended Pharmaceutical Marketing Plan

Product X

49
Q

Exhibit 12

A

BRAND POSITION REPORT

50
Q

Exhibit 13

A

BRAND REVIEW BRAND X

51
Q

Exhibit 14

A

DIRECTIONAL PLAN

52
Q

Exhibit 15

A

Framework of a Marketing Plan (Pharmaceuticals)

53
Q

Exhibit 16

A

BRAND X 1995 MARKETING PLAN (Pharmaceuticals)

54
Q

Exhibit 16

A

BRAND X 1995 MARKETING PLAN (Pharmaceuticals)

55
Q

Exhibit 17

A

STEPS TO EXECUTE AND CONTROL BRAND PROGRAMS

56
Q

Size and growth; market penetration, regionality; seasonality; segmentation; market share trends; shifts in consumer
attitudes, buying behavior, etc.

THE MARKET
CONSUMER
COMPETITIVE ACTIVITIES

A
57
Q

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

A

COMPETITIVE ACTIVITIES

58
Q

set of new 4Ps:

A

predictive modeling/analysis, personalization, peer-to-peer networking, and participation.

59
Q

Old 4Ps:

A

Product, price, place, promotion

60
Q

predictive modeling and personalization.

controlled/uncontrolled

A

controlled

61
Q

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

A

Predictive Modeling

62
Q

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

A

Personalization

63
Q

peer-to-peer and participation.

controlled/uncontrolled

A

uncontrolled

64
Q

peer-to-peer and participation.

controlled/uncontrolled

A

uncontrolled

65
Q

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)

A

Peer-to-Peer (Socialization)

66
Q

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)

A

PARTICIPATION

67
Q

Advertised OTC drugs created a two-tier market system:

A

proprietary/advertised brands (without prescriptions)
ethical brands (with prescriptions)

68
Q

hybrid of ethical branded products that are not normally advertised in radio, TV, or print media (except for United Home Products.)

A

Branded generics

69
Q

Types of Advertising:

A

 Informative Advertising
 Persuasive Advertising
 Comparison Advertising
 Reminder Advertising
 Reinforcement Advertising

70
Q

Paid non-personal presentation. promotion of ideas and products by an identified sponsor. it can be done through radio, television or print media.

ADVERTISING

A

ADVERTISING

71
Q

use of nonpersonal contact tools (mail, telephone, email) to communicate with current customers and prospects. The goal is to solicit an immediate response.

A

DIRECT MARKETING

72
Q

short-termincentives given to trade channels or end-users. The purpose is to encourage trial or purchase of a product, goods or services.

A

SALES PROMOTION

73
Q

It involves a variety of programs and projects. aim to promote and protect a company’s image or products.

A

PUBLIC RELATIONS AND PUBLICITY

74
Q

Face-to-face interaction with one or more prospective buyers/closing a sale.

A

PERSONAL SELLING

75
Q

they will not notice all of the stimuli

SELECTION ATTENTION
SELECTION DISTORTION
SELECTIVE RECALL

A

SELECTION ATTENTION

76
Q

they will twist the message to hear what they want to hear

SELECTION ATTENTION
SELECTION DISTORTION
SELECTIVE RECALL

A

SELECTION DISTORTION

77
Q

they will retain in permanent memory only a small fraction of
message that reach them

SELECTION ATTENTION
SELECTION DISTORTION
SELECTIVE RECALL

A

SELECTIVE RECALL

78
Q

for pharmaceutical healthcare products, they can be individuals, groups, or healthcare professionals.

Target audience
IMAGE ANALYSIS

A

Target audience

79
Q

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

A

IMAGE ANALYSIS

80
Q

1.PrintMedia
2.ElectronicMedia
3.Display

NON-PERSONAL/PERSONAL COMMUNICATIONS CHANNEL

A

NON-PERSONAL COMMUNICATIONS CHANNEL

81
Q
  1. Advocate Channels
  2. Expert Channels
  3. Social Channels

NON-PERSONAL/PERSONAL COMMUNICATIONS CHANNEL

A

PERSONAL COMMUNICATIONS CHANNEL

Pharmaceutical Marketing & Entrepreneurship (4 decks)

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