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PHME > MARKETING MANAGEMENT PROCESS > Flashcards

MARKETING MANAGEMENT PROCESS Flashcards

1
Q

process of getting things done in an organized and efficient manner

A

Management

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2
Q

process of decision making, planning, and controlling the marketing aspects of a company in terms of the marketing concept

A

Marketing management

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3
Q

the analysis, planning, implementation, and control of programs designed to bring about desired exchanges with target markets

A

Marketing management

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4
Q

It relies heavily on designing the organizations offering in terms of the target markets needs and desires.

A

Marketing management

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5
Q

Marketing Management Process

A

• Conduct market research
• Develop marketing strategy
• Make a marketing plan
• Feedback and control

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6
Q

Marketing Management Process
4 KEY ELEMENTS

A

ASDM

  1. Analyzing marketing opportunities
  2. Selecting target markets
  3. Developing marketing mix
  4. Managing the marketing effort
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7
Q

External

A

•Socio-political-economic-technological and cultural forces
•Competitors
•Suppliers
•Resellers
•Public in the drug industry

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8
Q

Internal

A

•Company’s record
•Pharmaceutical marketing research
•Marketing intelligence
•Management information system in the Total Healthcare Delivery System

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9
Q

SELECTING TARGET MARKET 4 STEPS

A

DMMM

  1. Demand measurement and forecasting
  2. Market Segmentation
  3. Market targeting
  4. Marketing positioning
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10
Q

Represent action guides, the “Magic Number” that will show probable results of various sales and marketing plans and programs.

A

FORECASTING

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11
Q

Means predicting future market levels.

A

FORECASTING

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12
Q

Types of Forecasting Objectives

A
  1. Short-term forecast
  2. Budget forecast
  3. Long-term forecast
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13
Q

Overall current policy and assessing current development

A

Short-term forecast

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14
Q

Annual Budget, the “soul”

A

Budget forecast

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15
Q

3-30 years

A

Long-term forecast

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16
Q

Steps in Forecasting

A
  1. Determine primary purpose of forecasting
  2. Group related products
  3. Identify factors affecting the sales
  4. Choose the forecasting method
  5. Gather available marketing data
  6. Analyze all the marketing data
  7. Validate all assumptions and hypotheses
  8. Come out with specific forecast by product area
  9. Apply to company’s sales and marketing operation
  10. Raise forecast periodically
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17
Q

the process of classifying customers into groups with different needs, characteristics, or behavior

A

MARKET SEGMENTATION

18
Q

process that companies use to divide large, heterogeneous markets into small markets

A

MARKET SEGMENTATION

19
Q

New Market Segmentation

A
  1. By geographic location
  2. According to Age
  3. According to Sex and Status
  4. According to Income
  5. By Psycho-Social Cultural factors
  6. By degree of specialization and therapeutic categories
  7. According to product formats, sizes, and supply
  8. According to ownership or type of organization
  9. According to types of business or classification
20
Q

consists of a set of buyers who share common needs or characteristics that the company decides to serve

A

Target Market

21
Q

Target Market: Drops

A

Pediatrics
1-12 months old

22
Q

Target Market: Liquid or suspension

A

Pediatrics
1-12 yrs old

23
Q

Target Market: Tablets or capsules

A

Adults
13 yrs old and above

24
Q

It is the place the product occupies in consumers’ minds relative to competitors.

A

MARKET POSITIONING

25
Q

It means creating a competitive edge.

A

MARKET POSITIONING

26
Q

It refers to the attributes, characteristics, or purchaser criteria.

A

MARKET POSITIONING

27
Q

the way the product is defined by consumers on important attributes

A

Product position

28
Q

Elements in Product Positioning

A
  • Perceptions
  • Impressions
  • Feelings
29
Q

Set of controllable marketing variables that the firm blends to produce the response it wants in the target market.

A

MARKETING MIX

30
Q

5 P’s of Marketing

A
  1. Product
  2. Place
  3. Price
  4. People
  5. Promotion
31
Q

The goods and services that the company offers to the target market.

A

Product

32
Q

The amount of money customers have to pay to obtain the product.

A

Price

33
Q

Company activities that make the product available and visible to target consumers.

A

Place

34
Q

Activities that communicate the merits of the products and persuade target customers to buy it.

A

Promotion

35
Q

analysis, planning, implementation, and control of programs designed to bring about desired exchanges with target markets for the purpose of achieving organizational objectives

A

Marketing Management Process

36
Q

Analyzing Marketing Opportunities

A

❑ External
❑ Internal

37
Q

“An ______________________ blends all the marketing mix elements into a coordinated program designed to achieve the company’s marketing objectives”

A

effective marketing program

38
Q

MARKETING MIX OPTIMIZATION

A

Ideas -> Work -> Result

39
Q

the place the product occupies in consumers’ minds relative to competing products

A

Product position

40
Q

Drug outlets do forecast demand for products that are ____, ____, ________, or ____________.

A

fast, slow, moderate, or non-moving.

PHME (4 decks)

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