Marketing Theory Flashcards
T/F Principles of marketing are applicable to all business entities
TRUE
Marketing and pharmacy have long coexisted with a _____ relationship
synergistic (pharmacist understand the need for marketing new services)
_________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
Marketing
_______ concept is the EFFICIENCY in production and distribution of goods and services
production
Production concept assumes that the primary interest is….. (2)
product availability and low price
What is the issue with the production concept?
may lead to customer concern about impersonal delivery
“Dispensing as many prescriptions as possible w/o regard to providing patient education”
_______ concept focuses on making a GOOD PRODUCT and IMPROVING the product over time
product
Who defines what a “good product” is under the product concept?
producer/manufacturer (little or no input from the consumer)
Product concept assumes…
customers appreciate well made products and that they can evaluate the products
“Build it….. they will come”
_______ concept focuses on STIMULATING CONSUMERS interest through aggressive sales and promotion offers
selling
Selling concept assumes…. (2)
consumers must be coaxed into purchasing a product or service
-there is little or no concern about consumers’ wants, needs, and post purchase satisfaction
_____ concept suggests DIRECT SEPARATE OFFERS, SERVICES, and MESSAGES to individual customers
customer
What does the customer concept lead to?
the customization of the product
CUSTOMER CONCEPT:
_____ growth occurs through customer ____
profitable; loyalty
T/F The customer concept DOES NOT create lifetime value for individual customers
FALSE: DO
What are the 3 most common marketing concepts used in pharmacy?
- customer concept
- marketing concept
- societal marketing concept
____ concept: suggests the needs of the buyer are paramount
marketing
What are the marketing concept activities usually focused toward?
generating profits through the creation of customer value
Marketing concept assumes…..
careful selection of target markets (more effective than competitors in creating, delivering, and communicating customer value)
______ concept: an organization’s task is to determine the NEEDS, WANTS, and INTERESTS of target market
societal marketing
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
effectively and efficiently
T/F Marketing concept takes into consideration social and ethical issues
FALSE: societal marketing concept
state of felt deprivation?
need
______ are basic human requirements (physical, social, and individual)
needs
desire to satisfy a need?
wants
What is shaped by culture and personality?
wants
wants backed by the ability to pay?
demands
T/F Many people have wants, but only a few can afford them
TRUE
_____ occurs when market dislikes a product or is not willing to pay a price to avoid it
negative demand
What are the (6) marketing concepts?
- production concept
- product concept
- customer concept
- selling concept
- marketing concept
- societal marketing concept
What are some examples of negative demand? (2)
- health care
- automotive and home repair
T/F Patients don’t know they have a need or want for a service
TRUE
-they don’t know this until they are told about it
Healthcare providers must respond to the ____ and ___ of patients
needs and wants
what you have to offer?
product
what is GIVEN UP or SACRIFICED to obtain a product?
price
What are the 2 types of prices?
- objective price
- perceived price
objective price
actual price of the product
perceived price
cost/price that consumer paid that includes other things that are outside of price
T/F If a patient has a POSITIVE perceived price, then this will INCREASE perception
FALSE: DECREASE perception
Negative perceived price have an ______ perception (exponentially)
INCREASED
where the product is available?
place
Promotion are activities to ____, _____, and _____ the target market
inform, remind, and persuade
positioning?
creating a DISTINCT PLACE in the minds of the target market
Pharmacy and “The Product” (3)
- dispensing services
- dispensing-related value added services
- non dispensing-related value added services
dispensing services
associated w/ dispensing of RX that are obligatory by BOP
dispensing related value added services
services that extend beyond routine dispensing activities (i.e monitor refill history)
non dispensing related value added services (2)
- services not associated w/ dispensing a rx
- are not required by a law in the fee charged for a rx
______ the method and sequence in which a service is CREATED, PRODUCED, and DELIVERED
process
_____ efficiency in transforming service inputs into outputs
productivity
_____ degree in which service meets the needs, wants, and expectations of customers (superiority or excellence in a product or service)
quality
T/F In pharmacy, we need to provide services/products of LOW quality
FALSE: HIGH
_______ interactions have significant impact on perceptions of service quality
people
____ appearances significant impact on perceptions of service quality
environment
______ internal standards used by customers when evaluating a product or service
expectations
What are the 2 types of expectations?
- desired service level (can be satisfied by an adequate service)
- adequate service level
_______ feeling of pleasure or disappointment resulting from comparing performance to expectations
satisfaction
____ difference between perceived benefits and perceived costs
value
T/F Value and Quality ARE NOT related
FALSE: ARE
Value vs. Quality
INCREASED quality–> INCREASED _______–> INCREASED ________–> INCREASED ________
perceived value; consumer behavior; profitability
T/F Loyalty, attitudes, and behaviors tend to favor the PHARMACY
FALSE: PHARMACIST
_____ occurs when there is adoration
loyalty (happens because of negative demand)
Relationship Marketing (activities aimed at developing long-term, cost effective links between organization and its customer) = __________
Patient-provider relationship
What are things to consider when dealing with relationship marketing and pharmacy? (3)
- pharmacies are full of data (i.e. one on one marketing)
- consider others when implementing marketing strategies
- building relationships takes time
