Marketing Basics Flashcards
(39 cards)
What is the goal of a marketing strategy?
To create a well researched and logically sequenced set of ____ that will help a business ____ its objectives
Decisions
Acheive
What does it mean when we say “what is your value proposition?”
What makes you different from everyone else
What are the 4 P’s of marketing?
product
price
promotion
place
what is emotional marketing?
marketing designed to evoke emotion in customers to influence their buying decision
what is thought leadership in marketing?
- A form of content marketing that solidifies your position as an expert and authority within your industry
- The goal of thought leadership marketing is not to create sales-heavy content, but to provide visibility to your business by branding yourself as an expert
In pharmacy, who is typically considered the target customer?
patients
what factors should you consider when identifying your target audience?
demographic
size of demographic
competitors
ur value proposition
What does segmentation mean in respect to marketing?
segment refers to a subgroup of potential customers that share similar characteristics or needs
4 main types of marketing segmentation?
- geographic
- demographic
- behavioural
- psychographic
What is geographic segmentation?
segmenting the market based on location, such as city, region or country
what is demographic segmentation?
dividing the market based on measurable statistics such as age, gender, income, education…
what is behavioural segmentation?
grouping customers based on their behavior such as decision making role, usage of patterns, proactiveness
Example (Pharmacy):
Patients who only refill once meds run out (late refillers)
High-frequency buyers vs. one-time drop-ins
People who prefer 90-day supply vs. 30-day
what is psychographic segmentation?
segmenting based on lifestyle, personality traits, values, attitudes
Example (Pharmacy):
Health-conscious seniors who value natural remedies
Busy professionals who want convenience and privacy
Caregivers who prioritize adherence tools (e.g., blister packs)
Which of the following is an example of behavioral segmentation?
A. A person who lives in Ontario
B. A parent with three children
C. A patient who chooses a pharmacy because of fast service
D. A retiree
C
What question would best help identify your value proposition?
A. Where is the nearest pharmacy?
B. What makes your service better than competitors?
C. How much do you charge for delivery?
D. Do you have free samples?
B
True/False
Geographic segmentation refers to patients’ personality traits.
F
What is undifferentiated marketing?
single set of products/services and a marketing program for a single market (coke)
T/F: Differentiated marketing is: different sets of products/services and/or marketing programs for different market segments
true
T/F: Concentrated marketing is a limited set of products/services and marketing programs that concentrate on acquiring a limited share of a large segment?
false: limited set of products/services and marketing programs that concentrate on acquiring a LARGE share of a LIMITED segment
(smaller amount of products for one specific group, ex: speciality pharmacies)
What is niche marketing
limited set of products/services and marketing programs concentrating on a limited portion of different segments
e.g., blister packs for LTC or oncology
Define push marketing
aims to make a sale immediately
define pull marketing
builds an audience over time and often from scratch
push or pull: A pharmacy runs a Google Ads campaign that shows up when people are browsing unrelated websites.
push
(advertisement)
push or pull: A patient finds your pharmacy on Google because your website ranks high when they search “medication delivery near me.”
pull
(SEO, reviews)
