Marketing Flashcards
Market
potential customers who
Want or need a service or product
Have the resources and authority to make the purchase
Marketing
a process that includes
Planning
Design and development of services and products
Sales
Two perspectives
selling orientation
market orientation
Selling orientation
Marketing efforts should be directed toward selling what the organization has to anyone likely to make the purchase
Market orientation
Marketing efforts should be directed toward creating new customers and retaining existing customers.
Target market:
Individuals who need and are able to purchase what the business supplies
Characteristics for segmenting the potential market for a specific service include
Age Geography Lifestyle Purchasing habits Social class
Advantages of market segmentation
Allows alignment the organization’s efforts toward the meeting of unique needs and characteristics of the most favorable market segment(s
Niche:
very specific target market
A limited number of potential customers
The market (customers) have unique needs
Growth
More targeted customers for existing services
New services for current customers
New services for a new target market
Retention
Keep existing and past customers
Seven P’s
Product/service (benefit) Price (value) Place (delivery environment) Promotion (attract attention) Physical Evidence (quality) Processes (efficiency) People (expertise/personalities)
4 P’s
Product/service (benefit[s])
Price (value)
Place (delivery environment)
Promotion (attract attention)
3 P’s for health care services:
Physical evidence (a quality indicator)
Processes (efficiency)
People (quality/expertise)
Product:
or service) includes:
The special characteristics of what is being offered for sale
Characteristics of product:
Image
How it is presented (packaged)
Features
Name brands
Price approaches include:
Cost-based pricing (price relative to costs)
Competition-based pricing (price like competitors)
Demand-based pricing (e.g., prestige, high price = high quality)
Place includes:
Accessibility
Décor
Hours of operation
Service location
Promotion:
various methods used to inform the public about the service and to sell it
Promotion includes what markets?
Current target market
New targeted market
Previous customers
Promotion tools:
advertising
direct marketing
personal selling
public relations
Desired effects of promotion:
Be aware of and become informed about the service
Understand how this service differs from similar offerings
Support comparisons that favor the promoted service
Show preference by buying the promoted service
How can customers infer quality and effectiveness?
by observing:
Clarity and accuracy of pretreatment communications
Occurrences at the business location and in the clinic
Age and condition of equipment
Staff interactions, responses, reactions
How other customers are treated
Process:
refers to the way business activities flow and are coordinated
Examples of process:
Customers recognize if there are consistencies in the operations or not
Ease of setting appointments
Diligence in pursuing accurate information
Timeliness of communications
People
includes all members of a business a customer and their caregivers notice or interact with
Stages of marketing
introduction
growth
maturation
decline
Introduction stage
a new service is brought to a market sales are low,
expenses are high, and there are financial losses
Growth stage
profits and sales increase rapidly.
This is likely to attract competition
Marketing options in growth stage:
Doing nothing
Reinvesting profits into substantial marketing efforts
Maturation stage:
high volume and profit with little additional investment in promotion
Marketing option in maturation stage:
Marketing option is to do nothing more
Decline stage:
characterized by decreasing popularity and market share
Marketing in decline stage:
Marketing option is to terminate support
