MARKETING Flashcards
WHAT IS MARKETING?
Marketing is not a function, it is the whole business seen from a customers point of view
MARKETING MIX
Traditional 4P’s extended to encompass growth of service industry
The tools available to a business to gain the reaction it is seeking from its target market in relation to its marketing objectives
WHAT ARE THE 7 ‘P’S MARKETING MIX
Price
Promotion
Physical environment/evidence
People
Product
Process
Place
PRICE
Important to know the marker and know your competitors
USP’s
Target audience
Healthcare – ethics?
- Cost based
- Demand based
- Operations based
- Competition based
- Relationship based
- Strategies
o Skimming
o Penetration
o Psychological
PRODUCT
Methods used to improve/differentiate the product and increase sales or the target sales more effectively to gain a competotove advantage e.g.
Specialised versions
New editions
Improvements – real or otherwise
Technology
Benefits of service
- Design
- Technology
- Usefulness
- Convenience
- Value
- Quality
- Packaging
- Branding
- Accessories
- Service delivery
PROMOTION
Strategies to make the consumer aware of the existance of a product or service – not just advertising
- Special offers
- Advertising
- Endorsements
- User trials
- Direct mailing
- Leaflets/posters
- Networking
- Competition
- Joint ventures
- Reviews
PLACE
The means by which products and services get from producer to consumer and where they can be accessed by the consumer
The more places to buy the product and the easier it is made to buy it, the better for the business (and the consumer)
- Retail
- Mail order
- Internet
- Direct sale
- Peer to peer
- Multi channel
PEOPLE
People represent the business
The image they present can be important
First contact often human – what is the lasting image thet provide to the customer?
Extent of training and knowledge of the product/service concerned
Mission statement – how relevanmt?
Do staff represent the desired culture of the business?
- Employment
- Management
- Culture
- Customer service
PROCESS
Especially relevant to service industry
How do people experience your product/sevice?
Patient facing/team facing
- How do people consume services?
- What processes do they have to go through to acquire the service?
- Where do they find the availability of the service?
- Contact
- Reminders
- Registration
- Subscription
- Form filling
- Degree of technology
PHYSICAL ENVIRONMENT/EVIDENCE
Appearance – premises, staff
Interface – reviews, communication, website
Comfort – room temp, privacy, plinth
Facilities – baby changing, disability access, water/coffee
Location – parking, bus routes, well signposted?
- The ambience, mood or physical presentation of the environment
- Smart/shabby?
- Trendy/retro/modern/old fashioned?
- Light/dark/bright/subdued?
- Romantic/chic/loud?
- Clean/dirty/unkempt/neat?
- Music?
- Smell?
THE MARKETING MIX
- Blend of the mix depends on
o Marketing objectives
o Type of product
o Target market
o Market structure
o Rivals’ behaviour
o Global issues – culture/religion etc
o Marketing position
o Product portfolio
o Product lifecycle
PRINCIPLES OF MARKETING
- Brand – unique, identifiably you
- Tracking – KPI’s and analytics
- Conversion rates and PT retention
