Finals Mod 5-8 Flashcards by Marah Joy M. FLORES

Q

key success factors in marketing effectiveness & continuing market leadership:

A

high quality product beyond reasonable doubt;
well-oiled sales and marketing organization responsive to the dynamics of a fast- changing environment
well-balanced marketing plan that indicates what the strategic actions are to be accomplished, and how they are to be accomplished.

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Q

Exhibit 1

A

Outline for Preparing an Annual Marketing Plan

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Q

A summary of the strategic situation for the planning unit (business unit, market segment, product line, etc.).

Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets

A

Strategic Situation Summary

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Q

Define and describe each market target, including customer profiles, customer preferences, and buying habits, size and growth estimates, distribution channels, analysis of key competitors, and guidelines for positioning strategy.

Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets

A

Market Targets- Description

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Q

Set objectives for the market target (such as market position, sales and profits). Also, state objectives for each component of the marketing program. Indicate how each objective will be measured.

Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets

A

Objectives for the Market Targets

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Q

State how management wants the firm to be positioned relative to competition in the eyes and minds of the buyer.

Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets

A

Marketing Program Positioning Strategy

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Q

Set strategy for new products, product improvements, and product decisions.

Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions

A

Product Strategy

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Q

Indicate the strategy to be used for each distribution channel, including role of middlemen, assistance and support provided, and specific activities planned.

Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions

A

Distribution Strategy

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Q

Specify the role of price in the marketing strategy and
the planned actions regarding price.

Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions

A

Price Strategy

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Q

Indicate the planned strategy and actions for advertising, publicity, personal selling, and sales promotion.

Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions

A

Promotion Strategy

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Q

Identify information needs and planned projects, objectives, estimated costs, and timetable.

Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions

A

Marketing Research

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Q

Specify the responsibilities and activities of the departments that have an important influence upon the planned marketing strategy.

Price Strategy
Promotion Strategy
Distribution Strategy
Product Strategy
Marketing Research
Coordination with other business functions

A

Coordination with other business functions

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Q

Forecast sales and profit for the marketing plan and set the budget for accomplishing the forecast.

Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets

A

Forecasts and Budgets

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Q

Indicate plan of action if events differ from those assumed in the plan.

Contingency Plans
Forecasts and Budgets
Market Targets- Description
Marketing Program Positioning Strategy
Strategic Situation Summary
Objectives for the Market Targets

A

Contingency Plans

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Q

This portion of the plan includes the following: market definition and its important characteristics, size estimates, and growth projections. Market segmentation identifies the segments considered for targeting by management.

Contingency Plans
Forecasts and Budgets
Market Targets- Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy

A

Strategic Situation Summary

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Q

The _______ indicates the key competitors (actual and potential), their strengths and weaknesses, probable future actions, and the organization competitive advantages, in each segment of interest. Supporting information for the summary may be placed in an Appendix or separate analysis.

A

Competitor Summary

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Q

The planning information includes a clear definition of each target, size and growth rate, description of end-users, positioning strategy guidelines, and other available information useful in planning and implementation. Targeting priorities should also be indicated by management to aid in resource allocation.

Contingency Plans
Forecasts and Budgets
Market Target Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy

A

Market Target Description

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Q

This part of the plan spells out what the plan is expected to accomplish during the year. Some objectives may extend beyond one year into the future, and should also be shown in the Annual Plan. Objectives should be stated for each market
target: financial market position, or customer satisfaction achievements. All these should be quantified. Objectives should also be included for each component of the marketing
program: positioning strategy portion of the plan, the mix results that move the strategy toward the market target
objectives. Objectives form a hierarchy ranging from very broad corporate objectives to the specific objectives of a salesperson.

Contingency Plans
Forecasts and Budgets
Market Targets- Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy

A

Objectives for the Market Targets

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Q

The positioning statement indicates how the firm would like to be perceived in the eyes and minds of targeted customers and prospects. The positioning concept may be functional, symbolic, or experiential. Specific strategies for product distribution, price and promotion are detailed in this part of the plan. Actions to be taken, responsibilities, time schedules, and other implementation information should be included in the plan.
- When more than one market target is involved, the positioning strategy discussions can be divided into two
parts:
- (1) the marketing mix actions that apply to all targets,
- (2) those mix actions that are unique to a specific segment.

Contingency Plans
Forecasts and Budgets
Market Targets- Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy

A

Marketing Program Positioning Strategy

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Q

Contingency plans may be included in the positioning section of the Annual Plan, or in a separate section. The contingencies consider possible actions if the anticipated planning environment is different from what actually occurs. The
turbulent business environment makes it difficult to forecast future events. The planner should evaluate how the marketing strategy will be changed if the future is different than
anticipated. Actions for major contingencies should be included in the plan.

Contingency Plans
Forecasts and Budgets
Market Targets- Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy

A

Contingency Plans

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Q

Marketing financial planning consists of forecasting revenues and profits and estimating the expenses necessary to carry out the marketing plan. The executives responsible for
market target, product, geographical area, or other units may prepare the forecast. Comparative data on sales,
profits, and expenses for prior years provide the useful link to previous results. If plans are developed for several similar organizational units such as products, budgets may be consolidated at a higher organizational level.

Contingency Plans
Forecasts and Budgets
Market Targets- Description
Strategic Situation Summary
Objectives for the Market Targets
Marketing Program Positioning Strategy

A

Forecasts and Budgets

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Q

Exhibit 2

A

ANNUAL MARKETING PLAN

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Q

Exhibit 3

A

Marketing Plan Format Outline

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Q

Exhibit 4

A

The Contents of a Marketing Plan

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Exhibit 5

Essentials of a Marketing Plan Format

Exhibit 6

Highlights of THE MARKETING PLAN FORMAT

Determine sales volume, gross profit, gross margin, net profit, and market share Objectives Sales History Market Share Trends

Objectives

total market size, your peso sales, your peso market size. Objectives Sales History Market Share Trends

Sales History

your market share, first to 4th major competitors, others. Commentary Price Comparison Market Share Trends

Market Share Trends

Give an overview of major events, trends, and competitive developments over the last two years leading to your current market positions. Commentary Competition Sales History

Commentary

List major competitors and how you judge their current position, including significant strengths and weakness. Commentary Competition Sales History

Competition

Show comparison chart continuing your and your competitor's prices. Commentary Price Comparison Market Share Trends

Price Comparison

Describe your problems and opportunities, present and future. Problems/ Opportunities Positioning Statement Where will the Business Come From?

Problems/ Opportunities

Cite major thrusts for next year, tactics you will be using.

Major Thrust

Cite minor thrusts for next year.

Minor Thrust

Present positioning statements which describe how your company views a product or service Problems/ Opportunities Positioning Statement Where will the Business Come From?

Positioning Statement

Detail all tactics you plan to implement. Key Risks Tactics Timetable

Tactics

Justify your sales projections to be reasonable and adaptable. Problems/ Opportunities Positioning Statement Where will the Business Come From?

Where will the Business Come From?

List timetable to be able to refer to, throughout the year. Key Risks Tactics Timetable

Timetable

Identify major key risks of your plans. Key Risks Tactics Timetable

Key Risks

Exhibit 7

The Components of a Marketing Plan

Exhibit 8

Annual Marketing Plans

the master blueprint, the "game plan" , the "bible," the "battle plan" for a year's marketing activity for the given business unit, a division, a subsidiary, or product or group of products.

Annual Marketing Plan`

The two key marketing factors about the product audit:

market growth and market share.

Exhibit 9

The Marketing Plan

Exhibit 10

PRODUCT PLAN FORMAT

4-Step Process in STRATEGIC MARKETING PLANNING:

Conduct a Situation Analysis Determine Marketing Objectives Select Target Markets and Measure Market Demand Design a Strategic Marketing Mix

Exhibit 11

Exhibit 11 Recommended Pharmaceutical Marketing Plan Product X

Exhibit 12

BRAND POSITION REPORT

Exhibit 13

BRAND REVIEW BRAND X

Exhibit 14

DIRECTIONAL PLAN

Exhibit 15

Framework of a Marketing Plan (Pharmaceuticals)

Exhibit 16

BRAND X 1995 MARKETING PLAN (Pharmaceuticals)

Exhibit 16

BRAND X 1995 MARKETING PLAN (Pharmaceuticals)

Exhibit 17

STEPS TO EXECUTE AND CONTROL BRAND PROGRAMS

Size and growth; market penetration, regionality; seasonality; segmentation; market share trends; shifts in consumer attitudes, buying behavior, etc. THE MARKET CONSUMER COMPETITIVE ACTIVITIES

Product, pricing, promotions, distribution; terms of sales, discounts, deals; competitive advertising, and other developments; by type of outlets and therapeutic categories. THE MARKET CONSUMER COMPETITIVE ACTIVITIES

COMPETITIVE ACTIVITIES

set of new 4Ps:

predictive modeling/analysis, personalization, peer-to-peer networking, and participation.

Old 4Ps:

Product, price, place, promotion

predictive modeling and personalization. controlled/uncontrolled

controlled

the process of data mining using statistical techniques. allows marketers to use, or optimize, variables (predictors) that are likely to influence future behavior or results. Personalization Predictive Modeling

Predictive Modeling

technology allows pharmaceutical marketers to intercept rather than react to consumer situations and create relevance at decision points. It allows marketers to optimize marketing channels and investment. Personalization Predictive Modeling

Personalization

peer-to-peer and participation. controlled/uncontrolled

uncontrolled

peer-to-peer and participation. controlled/uncontrolled

uncontrolled

the most disruptive force to brands as consumers and professionals now have amplified license to frame brands and critical information. As a result of regulatory constraints and governance, pharmaceutical companies often must remain passive in this channel. PARTICIPATION Peer-to-Peer (Socialization)

Peer-to-Peer (Socialization)

The final new four P, equates to consumers defining and driving what the brand means to them, often in public forums. An individual can discuss product attributes with a global audience instantly and inexpensively. PARTICIPATION Peer-to-Peer (Socialization)

PARTICIPATION

Advertised OTC drugs created a two-tier market system:

proprietary/advertised brands (without prescriptions) ethical brands (with prescriptions)

hybrid of ethical branded products that are not normally advertised in radio, TV, or print media (except for United Home Products.)

Branded generics

Types of Advertising:

 Informative Advertising  Persuasive Advertising  Comparison Advertising  Reminder Advertising  Reinforcement Advertising

Paid non-personal presentation. promotion of ideas and products by an identified sponsor. it can be done through radio, television or print media. ADVERTISING

ADVERTISING

use of nonpersonal contact tools (mail, telephone, email) to communicate with current customers and prospects. The goal is to solicit an immediate response.

DIRECT MARKETING

short-termincentives given to trade channels or end-users. The purpose is to encourage trial or purchase of a product, goods or services.

SALES PROMOTION

It involves a variety of programs and projects. aim to promote and protect a company's image or products.

PUBLIC RELATIONS AND PUBLICITY

Face-to-face interaction with one or more prospective buyers/closing a sale.

PERSONAL SELLING

they will not notice all of the stimuli SELECTION ATTENTION SELECTION DISTORTION SELECTIVE RECALL

SELECTION ATTENTION

they will twist the message to hear what they want to hear SELECTION ATTENTION SELECTION DISTORTION SELECTIVE RECALL

SELECTION DISTORTION

they will retain in permanent memory only a small fraction of message that reach them SELECTION ATTENTION SELECTION DISTORTION SELECTIVE RECALL

SELECTIVE RECALL

for pharmaceutical healthcare products, they can be individuals, groups, or healthcare professionals. Target audience IMAGE ANALYSIS

Target audience

process of evaluating a target audience's perceptions, beliefs, and feelings about a product or brand. assessing the emotional connection that consumers have with the product. Target audience IMAGE ANALYSIS

IMAGE ANALYSIS

1.PrintMedia 2.ElectronicMedia 3.Display NON-PERSONAL/PERSONAL COMMUNICATIONS CHANNEL

NON-PERSONAL COMMUNICATIONS CHANNEL

4. Advocate Channels 5. Expert Channels 6. Social Channels NON-PERSONAL/PERSONAL COMMUNICATIONS CHANNEL

PERSONAL COMMUNICATIONS CHANNEL