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CVPM- SJ > Marketing > Flashcards

Marketing Flashcards

1
Q

What are the 4/5 Ps redifined by JD Stowe as? (Product, Place, Price, Promotion, Position)

A

Emotion
Value
Virtual
Excel
Experience

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2
Q

What are the 4 Ps of marketing

A

Product
Place
Price
Promotion

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3
Q

Demographics of Market

A

Rate of movement
Rate of growth/decline
Municipal govt influences
Industrial/Manufacturing influences
Income levels
SFH vs MFH

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4
Q

What factors should you use to assess competition

A

Distance
#of doctors
impression of facility
Estimated client count
probable gross revenue
strengths
differences in fees or perception of fees

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5
Q

Measuring Outcomes of marketing

A

ATF and targeted increase
# of transactions per year per doctor (goal - 5000)
number of visits per year per client (goal-10)
number of active clients per year per doctor (goal- 1000)

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6
Q

Communication Factors

A

Non verbal
listening
Sequencing
Scripts (avoid, use points)

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7
Q

Examples of Indirect Marketing

A

Client education
Confident and consistent messaging
Clean, organized and odor free facility
Professional, clean and friendly employees
Professional yet warm relationships with clients

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8
Q

Examples of Internal Marketing

A

Recalls
Reminders
Newsletters, welcome cards
Telephone etiquette
Staff enthusiasm
Anything to improve experience

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9
Q

3 Retail considerations

A

Vision
Image
Space

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10
Q

What % of retail revenue should go to advertising/promo

A

1-3%

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11
Q

What are 4 strategies of pricing advantage

A

Unique
Value Added
Value Based
Volume

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12
Q

The Resistance Rule

A

For any price there will be resistance (aim for 15-20% resistance)

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13
Q

Brochures Should include

A

professional and eyecatching
informational
doctor w photo and bio
services
hours of operation
contact info
website address
map and directions
QR code

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14
Q

Objectives of Brochures

A

Essential info for new clients
compel new client to be loyal
establish relationship values with the client
establish a sense of trust
establish a sense of partnership

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15
Q

Steps of Successful Marketing Plan

A

Gather data
Define your goal
Implement a strategy
Create a written action plan
Execute the plan and measure results

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16
Q

Key Concepts of Fear Free

A

Communication
Considerate approach
Gentle control
Touch gradient

17
Q

What is the best measure of customer service?

A

Word of mouth referrals

18
Q

What source of information are clients first exposed to?

A

Internet

19
Q

What are the value disciplines

A

Operational excellence
Product Leadership
Customer Intimacy

20
Q

What 4 things should be included in calculating the cost of a staff meeting

A

length of meeting, employee wages, food and lost profits

21
Q

What Net to New Clients ratio indicates healthy growth of the practice?

A

1:6

22
Q

This is a proactive process of gathering data about client preferences and activities to better target their services and products to client needs.

A

Customer Relation Management

23
Q

Goal should be to retain what percentage of clients over a 3 year period?

A

70-75%

24
Q

Each client who presents to the practice should be scheduled for at least one of the 3 follow-up events so that the practice automatically contacts each client In the future.

A

Recall
Reappointment
Reminder

25
Q

Clients only retain what % of what they hear?

A

20%

26
Q

The average person needs to hear about a product or service how many times before they buy it?

A

5

27
Q

Should reference and education material always be branded with the mission of the practice?

A

no

28
Q

Trade Area Full Time Equivalent (TA FTE).

A

Determine your trade area
How many FTE are in the area
% of trade area overlap of the other practices
Multiply the # of DVMs at each practice to determine how many are competing in your trade area

29
Q

What 3 metrics can you calculate from the TAFTE?

A

Share of the aggregate household income
Potential Clients per veterinarian
Potential revenue per veterinarian

30
Q

When it comes to marketing; what is “the key” to increasing compliance and retention?

A

Communication

31
Q

According to JD Stowe, how we tell people, what we promise to give them each and every time they visit our practice is called what?

A

Marketing

32
Q

What % of retail revenue should be spent on marketing?

A

1-3%

33
Q

What are the 6 Cs of Client Relationship Management

A

Consistency
Compassion
Customer Service
Convenience
Competence
Cost

34
Q
A

CVPM- SJ (7 decks)

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