Midterm Flashcards
a name, term, sign, symbol, design or combination of these intended to identify the goods or services of one seller or group of sellers.
Brand
Any effort to use a successful brand name to launch new or modified products.
Brand extension or Brand extension strategy
3 levels of product:
Core
Actual
Augmented Product
It is an exclusive legal right to reproduce, publish, and sell the matter and form of literary, musical, or artistic work.
Copyright
It tremendously gained wide acceptance, patronage, and repeat sales in bigger volumes from either the present or new markets being served.
Growth stage
A period characterized by continuous drops in sales of most product formats and brands, at a low level for many years.
Decline stage
A period characterized by the slowing down of the product’s volume
Maturity stage
anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy and delight a need or want of the target clientele.
Product
It is the set of all product lines and items that a particular seller offers for sale to buyers.
Product mix or product assortment
4 classifications of drug products:
• Branded drugs
• Generic drugs
• Ethical or prescription drugs
• OTC drugs
• Ethical-OTC drugs
• Proprietary drugs
This can be achieved in such factors as economies of scale, better organizational capability, lower procurement costs of raw materials component and highly able management.
Lower Production Costs
This factor includes marketing objectives, marketing mix strategy, costs and organization for pricing.
Internal Factor
It is the amount of money charged for a product or service. The value expressed in terms of pesos or any other monetary medium of exchange.
Price
It refers to the costs of products inclusive of raw materials, labor, and overhead.
Billing Price
This can be applied to branded drug products, or premium market, or on exclusivity and monopoly of drug product.
One price formula strategy
A price reduction for drug outlets and buyers who pay their sales orders promptly or on cash basis.
Cash discount
A type of Discriminatory Pricing Strategy where different versions of the drug product varies in brand name and marketing effort but with the same generic names and are priced differently.
Product-form Pricing
Setting a price based on customer perceptions and demand intensity rather than on costs.
Demand-Oriented Pricing Strategy
Price should be such an amount which will result in placing at a profit to the firm by making the smallest number of units of production in use.
False (largest)
One of the objectives of pricing is to optimize profit, or to reduce losses or maintain market share at all cost.
True
The drug product is expiring within 3 months to 1 year.
Selling below Cost
Selling below Competition
Competitive Selling
Selling below Cost
Highlighting technological advantage in terms of bioavailability and bioequivalent tests.
Selling below Cost
Selling below Competition
Competitive Selling
Competitive Selling
Loss of leaders in retailing.
Selling below Cost
Selling below Competition
Competitive Selling
Selling below Cost
Gaining fast entry into the desired market segment or sub-segments by therapeutic category.
Selling below Cost
Selling below Competition
Competitive Selling
Selling below Competition
Launching or introducing specialty drug products.
Selling below Cost
Selling below Competition
Competitive Selling
Competitive Selling
Physicians and dentists who prescribe ethical drug products to their patients either in hospitals, health centers, industrial clinics, or in their private practice.
A. Primary Target Markets
B. Secondary Target Markets
C. Tertiary Target Markets
A. Primary Target Markets
Pharmacists who dispense and endorse the prescription drug products to end users in drugstores and hospital pharmacies.
A. Primary Target Markets
B. Secondary Target Markets
C. Tertiary Target Markets
B. Secondary Target Markets
Serves as the catalyst of information and center for training of pharmacy aides and salesclerk in the representative stores.
A. Pharmacist
B. Doctors
C. Nurses
A. Pharmacist
Drugstore manned by a licensed pharmacist
A. La Botica
B. Unwide outlets
C. Sm Mega Malls
A. La Botica
May be built by drugstore owner, dealer, branch manager, or the company’s representative
A. Product Display
B. Window Display
C. POP Display
A. Product Display
Enumerate the positions of display:
(1) at the point-of-purchase (POP)
(2) on the store floor
(3) on preferential shelf space
(4) in the store window.
Promotional tool in which there is a personal interaction between two or more people.
Personal Selling
This is undoubtedly the best of the four positions and is precisely where the customer will be standing when she makes her purchases.
Point-Of-Purchase (POP)
The most successful means of convincing the dealer.
Positive action
If you have a POP display, you must place it in a strategic place so that the counter clerk cannot see it.
T/F
False
Answer: may see it
Pharmaceutical Marketing has evolved into a truly creative and responsive marketing communications program with all the component elements of a sound marketing mix that delivers the desired incremental productivity called for by the needs of the times.
T/F
True
Sales Promotion covers every activity which helps the dealer or drug outlet resell the company’s branded or generics line.
T/F
False
Answer: Merchandising and displays
Distributions channels and physical distribution.
J. PLACE
It has largest pharmaceutical firm in the country, has its own distribution network nationwide, servicing clients even in farflung areas.
I. UNITED LABORATORIES, INC.
Largest drugstore chain that operates more than 200 branches and franchises all over the country.
H. MERCURY DRUG CORPORATION
Popularly known for its wide assortment of merchandise at factory/ wholesale prices of food, garments/ textiles, school supplies and many others under one roof.
G. UNIWIDE
Refers to the set of pharmaceutical firms and individuals that takes title or assist in transferring title, to a drug product or service as it moves from the drug manufacturer to the final consumer.
F. PHARMACEUTICAL DISTRIBUTION CHANNELS.
A distribution channel moves drug products and related goods from the drug manufacturer to the final end-users, thereby saving time, money and effort in readily making it available to the intended markets.
O. DISTRIBUTION CHANNEL FUNCTIONS
It ensures utmost availability and visibility of the right drug product to its right market through the right distribution channel at the right place, right quantity, right time, right condition, and right cost.
N.PLACE OR DISTRIBUTION
This is where the drug manufacturer requires the sales outlets such as hospitals and industrial clinics not to carry competing lines in exchange for higher discounts, promotions support and other service amenities.
M. EXCLUSIVE DISTRIBUTION
This is where the drug manufacturer does not have to spread its efforts over many sales outlets in order to develop longlasting working relationships fast.
L. SELECTIVE DISTRIBUTION
These warehouses allows drug firms to postpone tax payments until they are ready to make deliveries to target customers.
K. BONDED WAREHOUSING
Warehouses receive, identify and sort merchandise such as drugs, cosmetics, skin care lines, and toiletries. They store these goods, implement product-recall programs, select goods for shipments, and dispatch sales orders.
E. WAREHOUSING
Type of warehousing were those of UNILAB are owned and operated by the company which stores and distributes their own drug products of various therapeutic categories, including large-volume parenterals (fluids), milk formula, health food and even Veterinary lines.
D. PRIVATE WAREHOUSE
Type of warehousing that provides storage and related physical distribution services to any interested individual or firm on a rental basis.
C. PUBLIC WAREHOUSE
This is the balance between sales and inventory on hand, expressed by stock turnover, the no. of times during a specified period that average inventory on hand is sold.
B. STOCK TURN-OVERS
They dominate in transporting small shipments over short distances and are more flexible than rail because they can readily pick up packages at a factory or warehouse and promptly deliver them to the customer’s door. They are also often used to supplement rail, air, and other forms that cannot deliver direct to customers.
A. MOTOR CARRIERS
