MARKETING MANAGEMENT PROCESS

Question 1

process of getting things done in an organized and efficient manner

Answer 1

Management

Question 2

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

Answer 2

Marketing management

Question 3

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

Answer 3

Marketing management

Question 4

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

Answer 4

Marketing management

Question 5

Marketing Management Process

Answer 5

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

Question 6

Marketing Management Process
4 KEY ELEMENTS

Answer 6

ASDM

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

Question 7

External

Answer 7

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

Question 8

Internal

Answer 8

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

Question 9

SELECTING TARGET MARKET 4 STEPS

Answer 9

DMMM

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

Question 10

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

Answer 10

FORECASTING

Question 11

Means predicting future market levels.

Answer 11

FORECASTING

Question 12

Types of Forecasting Objectives

Answer 12

1. Short-term forecast
2. Budget forecast
3. Long-term forecast

Question 13

Overall current policy and assessing current development

Answer 13

Short-term forecast

Question 14

Annual Budget, the “soul”

Answer 14

Budget forecast

Question 15

3-30 years

Answer 15

Long-term forecast

Question 16

Steps in Forecasting

Answer 16

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

Question 17

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

Answer 17

MARKET SEGMENTATION

Question 18

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

Answer 18

MARKET SEGMENTATION

Question 19

New Market Segmentation

Answer 19

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

Question 20

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

Answer 20

Target Market

Question 21

Target Market: Drops

Answer 21

Pediatrics
1-12 months old

Question 22

Target Market: Liquid or suspension

Answer 22

Pediatrics
1-12 yrs old

Question 23

Target Market: Tablets or capsules

Answer 23

Adults
13 yrs old and above

Question 24

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

Answer 24

MARKET POSITIONING

Question 25

It means creating a competitive edge.

Answer 25

MARKET POSITIONING

Question 26

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

Answer 26

MARKET POSITIONING

Question 27

the way the product is defined by consumers on important attributes

Answer 27

Product position

Question 28

Elements in Product Positioning

Answer 28

- Perceptions - Impressions - Feelings

Question 29

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

Answer 29

MARKETING MIX

Question 30

5 P’s of Marketing

Answer 30

1. Product 2. Place 3. Price 4. People 5. Promotion

Question 31

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

Answer 31

Product

Question 32

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

Answer 32

Price

Question 33

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

Answer 33

Place

Question 34

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

Answer 34

Promotion

Question 35

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

Answer 35

Marketing Management Process

Question 36

Analyzing Marketing Opportunities

Answer 36

❑ External ❑ Internal

Question 37

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

Answer 37

effective marketing program

Question 38

MARKETING MIX OPTIMIZATION

Answer 38

Ideas -> Work -> Result

Question 39

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

Answer 39

Product position

Question 40

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

Answer 40

fast, slow, moderate, or non-moving.