BP803ET LECTURE 4 Marketing MGMT An Introduction

DR.
APJ ABDUL KALAM TECHNICAL UNIVERSITY
Branch – PHARMACY
Pharma Marketing Management (BP803ET)
Lecture – 4
Marketing Management: An Introduction
By
Dr. Avijit Mazumder

Professor & Director
Noida Institute of Engineering and Technology Pharmacy Institute
Greater
DR A MAZUMDER, Noida
NIET PHARMACY
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DR A MAZUMDER, NIET PHARMACY

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Marketing :
Marketing is the process of developing,

promoting, and distributing products to
satisfy customers’ needs and wants.
Marketing :
. Marketing is an organizational function and a set of

processes for creating, communicating, and delivering value
to customers and for managing customer relationships in
ways that benefit the organization and its stakeholders.
Marketing planning is the process of conception, and

executing the pricing, promotion, and distribution of ideas,
goods, services to create exchanges that satisfy individual
and organizational goals
American Marketing Association

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Marketing: Managerial Perspectives
• Marketing is an art of selling products.

• Marketing is the performance of business
activities that direct the flow of goods and
services from the producer to the consumer.
• Marketing is the economic process by which
goods and services are exchanged between the
maker and the user, and their values determined
in terms of money prices.
• Marketing is the delivery of a standard of living
to society.
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Simple Marketing System
Communication
Industry
Goods/services Market
(a collection (a collection
of sellers) Money of Buyers)
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INFORMATIONS
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Marketing: Managerial Perspectives
• Marketing is the activity, set of instructions, and

processes for creating, communicating, delivering,
and exchanging offerings that have value for
customers, clients, partners, and society at large.
OLD view of NEW view of
marketing: marketing:
Making a sale Satisfying
—“telling and customer needs
selling” DR A MAZUMDER, NIET PHARMACY
INSTITUTE
7
Why is Marketing Important?
Shifting Business Paradigms
Buyers’ markets
Sellers’ markets
Difference between marketing and sales
Marketing Selling
Customer need is important Seller need is important
Begin before production Begin after production
Primary aim is customer satisfaction Primary aim is sales
Customer first and then product Product first and then customers
Focus to search correct product for Focus to search customers for

customers products
Continues after sales Comes to an end with sales
Customer is satisfaction produce Sales volume produce profit

profit INSTITUTE
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Difference between marketing and sales
Marketing Selling
Time-frame is long term. Time frame is short term.
The primary objective is to create an To get sales quickly or to induce trial.

enduring brand image.
Indirect and subtle approach towards Direct in approach to induce consumers

persuading customers to buy a product to buy a product or service immediately
or service. by temporarily changing the existing
price-value relationship of the product
or service.
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Marketing Process
The Marketing Process
A simple model of the marketing process:
• Understand the marketplace and customer needs and wants.
• Design a customer-driven marketing strategy.
• Construct an integrated marketing program that delivers
superior value.
• Build profitable relationships and create customer delight.
• Capture value from customers to create profits and customer
quality.
Needs, Wants, and Demands
Need: State of felt deprivation including physical, social, and
individual needs.
• Physical needs: Food, clothing, shelter, safety
• Social needs: Belonging, affection
• Individual needs: Learning, knowledge, self-expression
Want: Form that a human need takes, as shaped by
culture and individual personality.
• Wants + Buying Power = Demand

Needs and Wants Fulfillment
Need/ Want Fulfillment
Needs & wants are fulfilled through a Marketing Offering:
• Products:
– Persons, places, organizations, information, ideas.
• Services:
– Activity or benefit offered for sale that is essentially intangible
and does not result in ownership.
• Experiences:
– Consumers live the offering.
Customer Value and Satisfaction
Dependent on the product’s perceived performance
relative to a buyer’s expectations.
Care must be taken when setting expectations:
• If performance is lower than expectations, satisfaction is low.
• If performance is higher than expectations, satisfaction is high.
Customer satisfaction often leads to consumer loyalty.
Some firms seek to DELIGHT customers by exceeding
expectations.
Marketing Management
The art and science of choosing target markets and

building profitable relationships with them.
• Requires that consumers and the marketplace be
fully understood.
• Aim is to find, attract, keep, and grow customers by
creating, delivering, and communicating superior
value.
Marketing Management
Marketing managers must consider the following, to
ensure a successful marketing strategy:
1. What customers will we serve?
— What is our target market?
2. How can we best serve these
customers?
— What is our value proposition?
Pharmaceutical
PharmaceuticalMarketing
Marketing
Pharmaceutical Marketing is marketing of

pharmaceutical formulations or fine chemicals
into the market.
Pharmaceutical marketing is defined as the
performance of pharmaceutical business
activities that direct the flow of pharmaceutical
goods and services from producer to customers.

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Marketing
 Marketing is all about creating a pull, sales is

all about push.
 Marketing is all about managing the four P’s –

product
price
place
promotion

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The Marketing Mix
The marketing mix consists of four basic
marketing strategies known as the 4 P’s.
• Product
• Promotion
• Place
• Price
The 4 Ps & 4Cs
Marketing
Mix
Product Promotion
Customer Communication
Solution
Price Place
Customer Convenience
11 Cost DR A MAZUMDER, NIET
INSTITUTE
PHARMACY
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The 4 P’s of Marketing explained
Product Promotion Place Price
1. Is there a demand 1. Making customers 1. Distribution is 1. How much are
for the product or aware of a product getting the right customers willing to
service? 2. Advertising product to the right pay?
2. How to make the 3. Coupons place at the right 2. Is the price
product appeal to 4. Rebates time in the right competitive with
consumer 5. Sales amount and in the other products?
3. Packaging—includes 6. Free give aways right condition 3. Can the company
the design, color, 7. Publicity 2. Storage make a profit?
size, and brand 3. Warehousing
names 4. Transporting
THANK YOU

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DR.

APJ ABDUL KALAM TECHNICAL UNIVERSITY

Marketing Management: An Introduction

Dr. Avijit Mazumder

DR A MAZUMDER, NIET PHARMACY

Marketing is the process of developing,

. Marketing is an organizational function and a set of

Marketing planning is the process of conception, and

American Marketing Association

• Marketing is an art of selling products.

• Marketing is the activity, set of instructions, and

Primary aim is customer satisfaction Primary aim is sales

Focus to search correct product for Focus to search customers for

Customer is satisfaction produce Sales volume produce profit

Time-frame is long term. Time frame is short term.

The primary objective is to create an To get sales quickly or to induce trial.

Indirect and subtle approach towards Direct in approach to induce consumers

• Wants + Buying Power = Demand

The art and science of choosing target markets and

Pharmaceutical Marketing is marketing of

DR A MAZUMDER, NIET PHARMACY

 Marketing is all about creating a pull, sales is

 Marketing is all about managing the four P’s –

DR A MAZUMDER, NIET PHARMACY

DR A MAZUMDER, NIET PHARMACY

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