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Pharmaceutical Marketing & Entrepreneurship > Prelims Unit 1-4 > Flashcards

Prelims Unit 1-4 Flashcards

1
Q

“Healthcare products and medicines are in demand in the Philippines, but the cost and availability in an out-of-pocket market means many products are out of geographical and financial reach for many”.

A

Dr. Edward Booty, the CEO of Allied World Healthcare

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2
Q

2 Main Distributors of Drugs in PH:

A

Metro Drug & Zuellig

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3
Q

The basic element of marketing, concerned w/ nature & type of products, product quality & design, product planning & development, product decisions related to branding , labelling, packaging, trademarks.

Marketing research
Pricing Decisions
Products and services
Physical distribution

A

Products and services

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4
Q

Modern marketing starts with an analysis of the various aspects of market and related areas.

Marketing research
Pricing Decisions
Channels of Distribution
Physical distribution

A

Marketing research

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5
Q

The pathway through which the goods move from producer to consumer, includes a number of intermediaries like wholesaler, retailers, jobbers etc.

Channels of Distribution
Physical distribution
Marketing research
Pricing Decision

A

Channels of Distribution

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6
Q

physical movement of the goods from producer to consumer, includes transportation, warehousing, inventory control and management, order processing etc.

Channels of Distribution
Marketing research
Physical distribution
Pricing Decision

A

Physical distribution

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7
Q

It has the basic objective of informing the market about product availability and creating a demand for it, includes tools like advertising, sales promotion, personal selling, publicity, public relations etc.

Environmental Analysis
Feedback from Customers
Promotional Decisions
Pricing Decisions

A

Promotional Decisions

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8
Q

This is the only element of marketing which generates revenue for the firm, concerned with pricing policies and strategies, price determination, discounts, commissions etc.

Environmental Analysis
Pricing Decisions
Feedback from Customers
Responsibility towards the Society

A

Pricing Decisions

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9
Q

the first step for any organization environment in which the business is to be carried out, various macro and micro factors should be studied beforehand only to develop an understanding of the SWOT, for an organization.

Environmental Analysis
Pricing Decisions
Feedback from Customers
Responsibility towards the Society

A

Environmental Analysis

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10
Q

For successful marketing of goods, it is essential that the marketer obtains this from customers, so that reasons for failure or less satisfaction may be identified and
improvements in the products be made.

Environmental Analysis
Pricing Decisions
Feedback from Customers
Responsibility towards the Society

A

Feedback from Customers

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11
Q

It derives its much-needed inputs from society and therefore owes a responsibility towards the society ,part of marketing as the units have to protect and promote the interest of the society. A marketer to be socially responsive owes responsibility towards employees, consumer, shareholder
etc.

Environmental Analysis
Pricing Decisions
Feedback from Customers
Responsibility towards the Society

A

Responsibility towards the Society

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12
Q

the process of delivering goods and services to create value for the customer and make a profit.

Marketing Concept vs. Selling Concept

A

Marketing Concept

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13
Q

process of rounding up customers to increase sales.

Marketing Concept vs. Selling Concept

A

Selling Concept

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14
Q

views the business as a customer satisfactory process.

Marketing Concept vs. Selling Concept

A

Marketing Concept

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15
Q

views business as a goods- producing process.

Marketing Concept vs. Selling Concept

A

Selling Concept

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16
Q

cost determines the price.

Marketing Concept vs. Selling Concept

A

Selling Concept

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17
Q

concept is useless in a pure competition market

Marketing Concept vs. Selling Concept

A

Selling Concept

18
Q

Consumers determine the price.

Marketing Concept vs. Selling Concept

A

Marketing Concept

19
Q

This concept is applicable to the pure competition market.

Marketing Concept vs. Selling Concept

A

Marketing Concept

20
Q

This concept thinks about market segmentation deeply.

Marketing Concept vs. Selling Concept

A

Marketing Concept

21
Q

This concept starts with actual and potential customers.

Marketing Concept vs. Selling Concept

A

Marketing Concept

22
Q

This concept never thinks about the market concept.

Marketing Concept vs. Selling Concept

A

Selling Concept

23
Q

This concept starts with existing products.

Marketing Concept vs. Selling Concept

A

Selling Concept

24
Q

This concept earns profit through customer satisfaction.

Marketing Concept vs. Selling Concept

A

Marketing Concept

25
Q

This concept earns profit through attractive sales and
promotion.

Marketing Concept vs. Selling Concept

A

Selling Concept

26
Q

This concept emphasizes customer needs.

Marketing Concept vs. Selling Concept

A

Marketing Concept

27
Q

The scope of the marketing concept is wider.

Marketing Concept vs. Selling Concept

A

Marketing Concept

28
Q

This concept emphasizes on products or services.

Marketing Concept vs. Selling Concept

A

Selling Concept

29
Q

The scope of the selling concept is narrow.

Marketing Concept vs. Selling Concept

A

Selling Concept

30
Q

The objective of this concept is to satisfy the customer through goods and services.

Marketing Concept vs. Selling Concept

A

Marketing Concept

31
Q

The objective of the selling concept is to increase sales
of goods and services.

Marketing Concept vs. Selling Concept

A

Selling Concept

32
Q

refers to the environment, which is closely linked to the
organization, and directly affects organizational activities. It can be divided into supply side and demand side environment.

Supply side environment - suppliers, marketing intermediaries, and competitors who offer raw materials or
supply products.
Demand side environment - customers
who consume products.

A

Micro Environment

33
Q

involves a set of environmental factors that is beyond the control of an organization and influence the organizational activities to a significant extent, it is subject to constant change that bring opportunities and threats in an organization.

A

Macro Environment

34
Q

Importance of Marketing Environment:

A

Identification of Opportunities
Identification of Threats
Managing Changes

35
Q

Top 10 Pharmaceutical Markets Worldwide:

A

US
China
Japan
Germany
France
Italy
UK
Spain
Canada
Brazil

36
Q

the process of getting the right goods or services or ideas to the right people at the right place, time, and price, using the right promotion techniques and utilizing the appropriate people to provide the customer service associated with those goods, services, or ideas.

A

Marketing

37
Q

based on an operations-oriented approach that businesses employ since it takes into account both what goes on during the production process and how these operations influence consumer preferences.

Production Concept
Product Concept
Marketing Concept
Societal Concept

A

Production Concept

38
Q

about identifying products and features of these products that will be sold to potential customers.

Production Concept
Product Concept
Marketing Concept
Societal Concept

A

Product Concept

39
Q

basic idea behind this concept is that people will not buy enough of a business’s product, so businesses need to persuade them to do so, it is based on persuasion. It takes place when businesses persuade customers to buy their products instead of those of their competitors. The aim is to convince customers that they need your product, rather than your competitor’s.

Selling Concept
Societal Concept
Marketing Concept
Production Concept

A

Selling Concept

40
Q

focused on creating a better value proposition for
customers.

Selling Concept
Societal Concept
Marketing Concept
Production Concept

A

Marketing Concept

41
Q

proposes that businesses are, or should be, motivated
by more than just profit, should also be concerned with the well-being of society as a whole, including their employees and consumers, as well as the environment and
other stakeholders.

Selling Concept
Societal Concept
Marketing Concept
Production Concept

A

Societal Concept

42
Q

refers to all internal and external factors, which directly or
indirectly influence the organization’s decisions related to marketing activities.

A

Marketing Environment

Pharmaceutical Marketing & Entrepreneurship (4 decks)

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