OUR LADY OF FATIMA UNIVERSITY

College of Pharmacy

PHARMACEUTICAL
MARKETING AND
ENTREPRENEURSHIP
PHME 311
FORMULATING
AND
IMPLEMENTING THE
MARKETING PLAN
AND BUDGET
UNIT 9
  Formulating and
Implementing the
Marketing Plan and
UNIT Budget
OUTLINE
 The Marketing plan format
 Details of preparing a
marketing plan
  At the end of the lecture, the
students should be:
UNIT OUTCOMES  Differentiate formats in
preparing a marketing plan
Examining the major channel
alternatives open to a drug
company
 Examine the major components
of a well-balanced marketing
plan and each component
 Outline the elements of the
marketing implementation
process, and how companies
control their various marketing
activities
➢ Read study guide
➢ Read required learning resources
➢ Refer to unit terminologies for jargons
➢ Participate in weekly discussion board (Canvas)
➢ Quiz (Module 8)

CHECKLIST
TERMINOLOGIES

Marketing audit – refers to the comprehensive, systematic, analysis, evaluation

and the interpretation of the business marketing environment, both internal
and external, its goals, objectives, strategies, principles to ascertain the areas
of problem and opportunities and to recommend a plan of action to enhance
the firm’s marketing performance

Allocation – the action or process of allocating

or distributing something.
FORMULATING AND
IMPLEMENTING THE
MARKETING PLAN
AND BUDGET

MODULE 9
  A Marketing Plan is used to
DETAILS OF outline strategies for marketing
PREPARING A and operations. The plan may
include developing a marketing
MARKETING message, identifying the target
market, and creating strategies
PLAN AND for promotion of the business’
products or services
FORMAT
 The creation of the marketing
plan is understated as a
strategic process, where this is
based on information and
activities. The result is the
marketing plan, which is realized
and monitored in connection
with the results achieved
 Step no. 1:
Situation Analysis

In order to assess where the bank is at

present, detailed information concerning
both the past state, as well as present state
is necessary. Costs, revenues and profits
achieved are analyzed over time for the
longer-term period
Step no. 2: Setting out
Target Segments

Marketing objectives have to be

in accordance with business
objectives and must be defined
as precisely as possible
Step no. 3: Marketing Programme

The aim of marketing programmes is to

ensure that the practical realization of
the marketing strategies adopted
• The role of the marketing programme is to
prioritize marketing activities, dividing these into
important marketing activities, partial steps and
tactical tasks. Part of this is also the preparation
of time plans stipulating the limits for fulfilling
key tasks. It may also be evaluated at regular
meetings, for example as part of the monthly
cycle.
A good level of internal and external communication
between all subjects involved in the process of
implementing the marketing plan,

Precise market research determining customer

needs and the quality of services in comparison
with the competition,

Internal marketing for the support of external

marketing activities

A MARKETING PLAN REQUIRES:

 Marketing strategies The marketing mix is
comprise three elements: comprised of service,
means (tools), time and price, service availability,
plans and resources promotion, the human
necessary for successfully factor, processes and
achieving the objectives. customer service
ASSESSMENT OF ALTERNATIVE
MARKETING MIXES

 The idea of assessing alternative mixes is to find the

most appropriate marketing strategy prior to
beginning implementation of the plan.
 In the assessment various analytical approaches can
be used or simple methods on the basis of trial and
error.
 The next step is setting alternative, or back-up plans.
Since we cannot elaborate an alternative plan for
every case, we should evaluate the influence of
various groups of assumptions and find areas of
greatest risk
STRATEGIC CONTEXT

 This includes two strategic tasks:

setting the mission and setting
out business aims. The task of
defining the mission is to
familiarize all subjects involved
with the clear objective and
direction of the business.
 This part is composed of three
phases:

1. Marketing audit,

EVALUATION 2. Situation analysis and

OF
CONDITIONS 3. Identification of key requirements
in the marketing plan.
• SWOT analysis (strengths, weaknesses,
opportunities and threats)
• helps in strategic decisions concerning market
segments
FORMULATING MARKETING STRATEGY

 The quality of target plans

depends on the marketing
strategy formulated. Marketing
objectives and strategies
define the amount of profit,
revenues and market shares
important from the aspect of
fulfilling the mission and
defining the choice of
marketing mix for achieving
objectives in individual market
segments.
THE MARKETING STRATEGY IS ELABORATED AT
VARIOUS LEVELS:

 Level 1. – setting common marketing

objectives: defining long-term profitability
and the strategic aims of the bank, which are
expectations, strengthening the
communication and motivation of marketing
employees.
 Level 2. – setting objectives for key business
areas, which are more specific and have a
connection to business functions
 Level 3. – setting sectional objectives, or
which help in achieving common business
aims. Marketing objectives are common
statements, whereby the marketing strategy
is specific and lays down specific measures.
MARKETING STRATEGIC OBJECTIVES IN THE FIELD
OF THE MARKET WILL CONCERN:

 • Current users – the marketing strategy has two key

roles: to maintain current customers and to
strengthen through mutual co-operation the
stimulation towards more frequent purchases,
 • New users – the marketing strategy has as its role
to address new customers and to evoke a positive
response, or repeat purchase, which leads to in
longer-term co-operation
ALLOCATION OF
RESOURCES AND
MONITORING
 This phase of the
marketing planning
process includes two
fields: marketing
programs and
monitoring, control,
evaluation of the
fulfilment of the
marketing plan.
 In most cases there is
drawn up a three-year
strategic plan and annual
action plan.
MONITORING, CONTROL
AND EVALUATION

 Monitoring, control and

evaluation as results from
Kotler’s research in 75 firms
operating in the services
fields, many of the control
systems are inadequate.
OUTCOMES OF MONITORING, CONTROL AND
EVALUATION:

1. Smaller businesses have in comparison with larger

businesses control and management process of lower
quality.

2. Only fewer than half of all firms know the

profitability of individual products. One third do not
have any system set for evaluating, or identifying weak
products and services.
 3. At least half of all businesses do not make a breakdown of
costs, an evaluation of advertising, comparison of prices which
are the prices of the competition and do not write reports on
business negotiations.

4. In many businesses there are documents for assessment

delivered following a large delay of 4 to 8 weeks and are often
imprecise.

OUTCOMES OF MONITORING, CONTROL AND

EVALUATION:
 Berkowitz cites as the most frequent reasons
for failure of the marketing plan as:
 1. Not taking account of external factors,
 2. Not monitoring client needs – motivation
merely on the basis of economic challenges
there has not have to mean a benefit for the
bank,
 3. Over-extension of the marketing plan,
 4. Non-familiarization of each employee
with the marketing plan. It is not only the
elaborator who is responsible for fulfilling
the marketing plan, but also all who have
shared in its creation.
1. In evaluation condition, how
do we analyze environment
situation?
POP QUIZ
2. It sets the mission and also
setting out business aims.
SUMMARY

There is a lot of strategy you

There is no such as definite
can implement varying to
format in planning, it always
your business set up and
come to your creative ides
environment, taking up the
and how will you adjust to
vital components of strategic
your current scenario to be
planning will result to positive
able to succeed.
outcomes.
 1. Describe the community
pharmacy set up here in the
Philippines
 2. Give one drugstore and GUIDE
site some competitive QUESTIONS
advantages of drugstores TO NEXT
over the other TOPIC
 3.Give some modern
marketing practices you
observe nowadays.
REFERENCE:

 https://www.orientation.agency/insights/pharmaceutical-
marketing-strategies
 https://www.scribd.com/document/367523306/14-18
THANKS!!

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