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Pharmacy Management (P1 Spring) > Marketing Theory > Flashcards

Marketing Theory Flashcards

1
Q

T/F Principles of marketing are applicable to all business entities

A

TRUE

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2
Q

Marketing and pharmacy have long coexisted with a _____ relationship

A

synergistic (pharmacist understand the need for marketing new services)

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3
Q

_________is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings hat have value for customers, clients, partners, and society at large

A

Marketing

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4
Q

_______ concept is the EFFICIENCY in production and distribution of goods and services

A

production

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5
Q

Production concept assumes that the primary interest is….. (2)

A

product availability and low price

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6
Q

What is the issue with the production concept?

A

may lead to customer concern about impersonal delivery

“Dispensing as many prescriptions as possible w/o regard to providing patient education”

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7
Q

_______ concept focuses on making a GOOD PRODUCT and IMPROVING the product over time

A

product

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8
Q

Who defines what a “good product” is under the product concept?

A

producer/manufacturer (little or no input from the consumer)

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9
Q

Product concept assumes…

A

customers appreciate well made products and that they can evaluate the products

“Build it….. they will come”

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10
Q

_______ concept focuses on STIMULATING CONSUMERS interest through aggressive sales and promotion offers

A

selling

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11
Q

Selling concept assumes…. (2)

A

consumers must be coaxed into purchasing a product or service

-there is little or no concern about consumers’ wants, needs, and post purchase satisfaction

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12
Q

_____ concept suggests DIRECT SEPARATE OFFERS, SERVICES, and MESSAGES to individual customers

A

customer

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13
Q

What does the customer concept lead to?

A

the customization of the product

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14
Q

CUSTOMER CONCEPT:

_____ growth occurs through customer ____

A

profitable; loyalty

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15
Q

T/F The customer concept DOES NOT create lifetime value for individual customers

A

FALSE: DO

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16
Q

What are the 3 most common marketing concepts used in pharmacy?

A
  • customer concept
  • marketing concept
  • societal marketing concept
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17
Q

____ concept: suggests the needs of the buyer are paramount

A

marketing

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18
Q

What are the marketing concept activities usually focused toward?

A

generating profits through the creation of customer value

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19
Q

Marketing concept assumes…..

A

careful selection of target markets (more effective than competitors in creating, delivering, and communicating customer value)

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20
Q

______ concept: an organization’s task is to determine the NEEDS, WANTS, and INTERESTS of target market

A

societal marketing

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21
Q

In Societal Marketing the organization wants to deliver desired satisfaction more _______ and ______ than competitors in a way that enhances the customer’s and society’s well being

A

effectively and efficiently

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22
Q

T/F Marketing concept takes into consideration social and ethical issues

A

FALSE: societal marketing concept

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23
Q

state of felt deprivation?

A

need

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24
Q

______ are basic human requirements (physical, social, and individual)

A

needs

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25
Q

desire to satisfy a need?

A

wants

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26
Q

What is shaped by culture and personality?

A

wants

27
Q

wants backed by the ability to pay?

A

demands

28
Q

T/F Many people have wants, but only a few can afford them

A

TRUE

29
Q

_____ occurs when market dislikes a product or is not willing to pay a price to avoid it

A

negative demand

30
Q

What are the (6) marketing concepts?

A
  • production concept
  • product concept
  • customer concept
  • selling concept
  • marketing concept
  • societal marketing concept
31
Q

What are some examples of negative demand? (2)

A
  • health care

- automotive and home repair

32
Q

T/F Patients don’t know they have a need or want for a service

A

TRUE

-they don’t know this until they are told about it

33
Q

Healthcare providers must respond to the ____ and ___ of patients

A

needs and wants

34
Q

what you have to offer?

A

product

35
Q

what is GIVEN UP or SACRIFICED to obtain a product?

A

price

36
Q

What are the 2 types of prices?

A
  • objective price

- perceived price

37
Q

objective price

A

actual price of the product

38
Q

perceived price

A

cost/price that consumer paid that includes other things that are outside of price

39
Q

T/F If a patient has a POSITIVE perceived price, then this will INCREASE perception

A

FALSE: DECREASE perception

40
Q

Negative perceived price have an ______ perception (exponentially)

A

INCREASED

41
Q

where the product is available?

A

place

42
Q

Promotion are activities to ____, _____, and _____ the target market

A

inform, remind, and persuade

43
Q

positioning?

A

creating a DISTINCT PLACE in the minds of the target market

44
Q

Pharmacy and “The Product” (3)

A
  • dispensing services
  • dispensing-related value added services
  • non dispensing-related value added services
45
Q

dispensing services

A

associated w/ dispensing of RX that are obligatory by BOP

46
Q

dispensing related value added services

A

services that extend beyond routine dispensing activities (i.e monitor refill history)

47
Q

non dispensing related value added services (2)

A
  • services not associated w/ dispensing a rx

- are not required by a law in the fee charged for a rx

48
Q

______ the method and sequence in which a service is CREATED, PRODUCED, and DELIVERED

A

process

49
Q

_____ efficiency in transforming service inputs into outputs

A

productivity

50
Q

_____ degree in which service meets the needs, wants, and expectations of customers (superiority or excellence in a product or service)

A

quality

51
Q

T/F In pharmacy, we need to provide services/products of LOW quality

A

FALSE: HIGH

52
Q

_______ interactions have significant impact on perceptions of service quality

A

people

53
Q

____ appearances significant impact on perceptions of service quality

A

environment

54
Q

______ internal standards used by customers when evaluating a product or service

A

expectations

55
Q

What are the 2 types of expectations?

A
  • desired service level (can be satisfied by an adequate service)
  • adequate service level
56
Q

_______ feeling of pleasure or disappointment resulting from comparing performance to expectations

A

satisfaction

57
Q

____ difference between perceived benefits and perceived costs

A

value

58
Q

T/F Value and Quality ARE NOT related

A

FALSE: ARE

59
Q

Value vs. Quality

INCREASED quality–> INCREASED _______–> INCREASED ________–> INCREASED ________

A

perceived value; consumer behavior; profitability

60
Q

T/F Loyalty, attitudes, and behaviors tend to favor the PHARMACY

A

FALSE: PHARMACIST

61
Q

_____ occurs when there is adoration

A

loyalty (happens because of negative demand)

62
Q

Relationship Marketing (activities aimed at developing long-term, cost effective links between organization and its customer) = __________

A

Patient-provider relationship

63
Q

What are things to consider when dealing with relationship marketing and pharmacy? (3)

A
  • pharmacies are full of data (i.e. one on one marketing)
  • consider others when implementing marketing strategies
  • building relationships takes time

Pharmacy Management (P1 Spring) (11 decks)

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