Pharmaceutical Marketing: Strategic Marketing & Planning I

What is the main goal of organizational strategies?
To get where you want to be in 3-5 years
Strategic planning typically comes from whom
Top of management
However, in this approach to management ALL might participate
Employment
What is our first step in strategic marketing planning
Formulate a goal
In order to formulate a goal what 3 things do you need
1) Analyze resources (strengths/weaknesses)
2) Mission Statement
3) Analyze Environment (Opportunities/Threats)
What is step 2 (after you formulate a goal)
Develop a strategy
What are the 3 steps of developing a strategy
1) Segment the market
2) Select a target market
3) Position your product
Go through these 3 steps with the example of disease state management
1) Segment the market (going to segment by disease state and say diabetes)
2) Select a target market (who should you target with diabetes? We’ll say those > 65)
3) Position your product (what kind of message do you want to send to customers)
What is step 3 (following formulation of a goal and development of a strategy)
Implement
What is step 4
Reassess
All of these steps are known as the
Strategic marketing planning process
What are goals
General outcome of anticipated actions (we want to increase revenue)
What are objectives
Quantify general outcome
(want to increase revenue by 10%)
What is a strategy
Plan to achieve goals and objectives
What 4 things are we talking about when positioning (step 3 of developing a strategy) a service
The 4 P’s
Name the 4 P’s
1) Product
2) Place
3) Price
4) Promotion
The 4 P’s are known as your
Marketing Mix
The purpose of the marketing mix
How you are going to POSITION your service or product
What is the goal of positioning a service or product
Develop a CLEAR, DISTINCT, and VALUED image of your mix in the mind of consumers
What is SWOT
1) Strengths
2) Weaknesses
3) Opportunities
4) Threats
What is a commodity
Products in which consumers can’t perceive any difference; gas is an example; driven by location and price
What comes from a mission statement
All planning and strategies
Every business plan derives from
Mission statement
Strategic marketing plans can be conducted when
Anytime you have a marking problem such as trying to implement something new or a competitor enters the area, etc
Business plans come from the
Mission statment
What must be consistent with an organizations business plan
All plans including marketing strategy
Is marketing solely responsible for an organizations success?
No; only one area of a company that contributes to success