Marketing Unit-1 B.Pharma 8th Sem PDF | PPT
Keywords: Download PDF, Notes, PPT, Marketing Definition, General Concepts, Scope of Marketing, Selling vs Marketing, Marketing Environment, Industry Analysis, Consumer Buying Behavior, Pharmaceutical Market, Market Segmentation, Consumer Profile, Physician Prescribing Habits, Market Research.
Marketing: Definition, General Concepts, and Scope of Marketing
Marketing is a multifaceted discipline that involves the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. It encompasses a wide range of activities, including market research, product development, pricing, distribution, and promotion. The scope of marketing extends beyond just selling products; it involves understanding customer needs, building relationships, and creating value to satisfy those needs.
Distinction Between Marketing & Selling
While marketing and selling are often used interchangeably, they are distinct concepts. Selling focuses on the transaction itself, emphasizing the exchange of goods or services for money. Marketing, on the other hand, is a broader concept that includes understanding customer needs, developing products to meet those needs, and creating strategies to reach and engage the target audience. Marketing is about building long-term relationships, whereas selling is more transactional in nature.
Marketing Environment
The marketing environment consists of external factors that influence an organization's ability to serve its customers. These factors can be categorized into the micro-environment (e.g., suppliers, competitors, customers) and the macro-environment (e.g., economic, social, political, technological). Understanding the marketing environment is crucial for developing effective marketing strategies.
Industry and Competitive Analysis
Industry and competitive analysis involves evaluating the competitive landscape to identify opportunities and threats. Tools like SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) and Porter’s Five Forces are commonly used to assess industry dynamics and competitive positioning.
Analyzing Consumer Buying Behavior
Consumer buying behavior refers to the decision-making process and actions involved in purchasing and using products. Factors influencing consumer behavior include cultural, social, personal, and psychological factors. Understanding these factors helps marketers tailor their strategies to meet consumer needs effectively.
Industrial Buying Behavior
Industrial buying behavior involves the purchase of goods and services by organizations for use in production or operations. This process is typically more complex than consumer buying behavior, involving multiple decision-makers and a longer decision-making process.
Pharmaceutical Market: Quantitative and Qualitative Aspects
The pharmaceutical market is unique due to its focus on health and well-being. Quantitative aspects include market size, growth rate, and revenue, while qualitative aspects involve understanding consumer demographics, socio-psychological characteristics, and prescribing habits of physicians.
Market Segmentation & Targeting
Market segmentation involves dividing a broad market into smaller, more manageable segments based on criteria such as demographics, geography, behavior, and psychographics. Targeting involves selecting specific segments to focus on, allowing for more personalized and effective marketing strategies.
Consumer Profile
A consumer profile is a detailed description of the target audience, including demographic information (age, gender, income) and psychographic information (lifestyle, values, interests). This profile helps marketers understand their audience and tailor their messaging accordingly.
Motivation and Prescribing Habits of the Physician
Physicians play a critical role in the pharmaceutical market, as their prescribing habits directly influence product sales. Understanding the motivations behind their decisions, such as patient outcomes, clinical evidence, and peer influence, is essential for effective marketing.
Patients' Choice of Physician and Retail Pharmacist
Patients often choose physicians and pharmacists based on factors such as reputation, accessibility, and quality of care. Marketers must consider these factors when developing strategies to influence patient behavior.
Analyzing the Market
Market analysis involves evaluating market conditions, trends, and consumer preferences to identify opportunities and challenges. This process is essential for developing effective marketing strategies and staying competitive.
Role of Market Research
Market research is the foundation of effective marketing. It involves gathering, analyzing, and interpreting data about the market, competitors, and consumers. Market research helps businesses make informed decisions and develop strategies that resonate with their target audience.
Info!
If you are the copyright owner of this document and want to report it, please visit the copyright infringement notice page to submit a report.
