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824: PT Management and Adminstration > Marketing > Flashcards

Marketing Flashcards

1
Q

______ reflects an organization’s philosophy in how it facilitates the exchange of the organization’s services and products with customers for money.

A

Marketing

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2
Q

Marketing is a process that includes what 3 things?

A
  • Planning
  • Design and development of services and products
  • Sales
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3
Q

What are 2 marketing philosophies?

A
  • selling orientation

- market orientation

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4
Q

According to the selling orientation philosophy what should marketing efforts be directed towards?

A

selling what the organization has to anyone likely to make the purchase

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5
Q

According to the market orientation philosophy what should marketing efforts be directed towards?

A

creating new customers and retaining existing customers

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6
Q

Market orientation is ______ specific

A

customer

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7
Q

What does operating under a market orientation philosophy require?

A

Identifying a target market

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8
Q

Because no service can meet everyone’s needs the segment most in need of the service is identified through what?

A

environmental scanning

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9
Q

What are 5 characteristics for segmenting the potential market for a specific service?

A
  • Age
  • Geography
  • Lifestyle
  • Purchasing habits
  • Social class
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10
Q

What is an advantage of market segmentation?

A

Allows for the alignment of the organization’s efforts toward the meeting of unique needs and characteristics of the most favorable market segment(s)

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11
Q

What is a niche market?

A

A very specific target market with a limited number of potential customers

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12
Q

What does marketing positioning refer to?

A

The philosophical positions that an organization can pursue. Each involves decisions concerning how an organization wishes to be perceived by its qualified target markets

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13
Q

What are the 3 options for achieving a market position?

A
  • market leader
  • innovator
  • customer-centric
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14
Q

Describe the market leader option for achieving a market position

A

reputation will allow the organization to be perceived as a resource for the most advanced and effective treatment techniques

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15
Q

Describe the innovator option for achieving a market position

A

orientation will allow the organization to develop both a quality and leadership reputation in the community

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16
Q

Describe the customer-centric option for achieving a market position

A

focuses the efforts of the organization on the humanistic and caring aspects of products rather than arrogant self-serving pushing products on customers

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17
Q

What are 2 reasons why an organization needs to market?

A

1) growth

2) retention (keep existing and past customers)

18
Q

What are the 7 elements that can be used to formulate how a service is presented?

A
  • Product/service (benefit)
  • Price (value)
  • Place (delivery environment)
  • Promotion (attract attention)
  • Physical Evidence (quality)
  • Processes (efficiency)
  • People (expertise/personalities)
19
Q

What does the marketing mix refer to?

A

the combination of ways businesses choose to present themselves and their offerings to customers

20
Q

All businesses utilize what 4 P’s to accomplish the marketing mix?

A
  • Product/service (benefit[s])
  • Price (value)
  • Place (delivery environment)
  • Promotion (attract attention)
21
Q

What does the product or service include?

A

The special characteristics of what is being offered for sale such as:

  • image
  • how it is presented
  • features
  • name brands
22
Q

What are 3 pricing approaches?

A
  • Cost-based pricing
  • Competition-based pricing
  • Demand-based pricing
23
Q

Describe cost-based pricing

A

Prices are set relative to costs

24
Q

Describe competition-based pricing

A

Prices are set in relation to those of competitors

25
Q

Describe demand-based pricing

A

Prices are set high based on the concept that high price = high quality

Aka prestige pricing

26
Q

What are 4 qualities to be taken into consideration in regards to the “place”?

A
  • Accessibility
  • Décor
  • Hours of operation
  • Service location
27
Q

What does promotion include?

A

The various methods used to inform the public about the service and to sell it

28
Q

What 3 groups are targeted through the promotion process?

A
  • Current target market
  • New targeted market
  • Previous customers
29
Q

What is the most effective form of marketing promotion?

A

word of mouth

30
Q

The combination of communication tools used for promotion is known as the communication ___.

A

mix

31
Q

Promotional tools include what 4 things?

A
  • advertising
  • direct marketing
  • personal selling
  • public relations
32
Q

What are the additional 3 P’s that are included in the health are service quandary?

A
  • Physical Evidence
  • Process
  • People
33
Q

Customers can physically infer quality and effectiveness by observing what 2 things?

A
  • Clarity and accuracy of pretreatment communications
  • Occurrences at the business location and in the clinic such as age and condition of equipment, staff interactions, and how other customers are treated
34
Q

What do processes refer to?

A

the way business activities flow and are coordinated

35
Q

Marketing is ongoing. What is this ebb and flow called?

A

the lifecycle of services and products

36
Q

What are the 4 phases of the marketing continuum?

A
  • introduction
  • growth
  • maturity
  • decline
37
Q

During the introduction phase sales are ___, expenses are ____, and there are financial _____.

A

low

high

losses

38
Q

In order to eventually improve the picture associated with the introduction phase what is required?

A

a heavy financial investment in promotion activities

39
Q

During the growth stage profits and sales increase rapidly which is likely to attract competition. At this time the business has 2 marketing options, what are they?

A
  • do nothing

- reinvest profits into substantial marketing efforts

40
Q

What is the marketing option during the maturation stage?

A

do nothing more because there is already high volume and profit with little additional investment in promotion

41
Q

What is the marketing option during the decline stage?

A

Terminate support

824: PT Management and Adminstration (13 decks)

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