Marketing in optical businesses
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Marketing in optical businesses

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  • CHAPTER 09 05/20/12 MARKETING

Marketing in optical businesses Marketing in optical businesses Presentation Transcript

  • Marketing foroptical businesses Hossein Mirzaei Msc optom www.optiran.ir
  • Learning objectives Analyze and develop solutions to problems in merchandising Sales promotion and store operation Assess and evaluate pricing strategies economic problems and competition www.optiran.ir
  • Eye Care MarketFacts In every community eye care is a large market Eye care providers are plentiful. Most of them have excess capacity. Most patients prefer independent practice eye doctors. Presbyopes represent the majority of patients served by eye care providers. www.optiran.ir
  • Eye Care MarketFacts: Women purchase eyewear more frequently Eye care product technology is rapidly evolving In most optometric practices, the sale of eyeglasses produces the greatest share of revenue www.optiran.ir
  • Eye Care MarketFacts: Contact lens patients generate 25-30% of gross revenue in the average practice The Internet is transforming retailing and business-to-business transactions Eye care is a somewhat seasonal business ……. wwww.optiran.ir
  • The size of your organization isnot importantThe size of your bank account is www.optiran.ir
  • Increasing PracticeNet Income: See more patients per day "Sell" more to each patient. Raise fees (or reduce discounts) Avoid costly errors. Reduce expenses © South-Western Publishing
  • WHAT IS MARKETING? www.optiran.ir
  • Marketing is: The process of creating products and services The process of promotion those products and services,pricing them and distributing them in a specific marketplace www.optiran.ir
  • The Ps of Marketing Planning Strategy Product or service Price cost, profit Promotion creating desire for product Place location Positioning in marketplace www.optiran.ir
  • PLANNIG  The Strategy of MarketingWe must answer important questions www.optiran.ir
  • Positioning  The first marketing QuestionWhat market position will I assume?Or who am I? Quality price Fast Service www.optiran.ir
  • Marketing IdentificationThe second Marketing question : Who is my customer? Market segmentation:grouping people with the same needs orwants www.optiran.ir
  • Key segmentation questions: Geographic - where do they live? Demographic –what is their age ,sex,family size ,income, education Psychographic-what is their social class,lifestyle,personality Behavioral –what usage rate do they employ?are they loyal? www.optiran.ir
  • Third question: What is my mission or purpose? State in one or two sentencesThis should become the foundation of your business www.optiran.ir
  • An example of a missionstatement would be: We aim to specifically serve our patients with only the highest quality frames, lenses and contact lenses © South-Western Publishing
  • Product (service)The single most important marketing activityis selecting right product for your market www.optiran.ir
  • Product attributes: The physical elements :size color weight The value elements:quality ,durability,reliabilty Style or Fashion taste:modern,conservative Marketing success will depend on knowing all product attributes www.optiran.ir
  • Generic and specific needs Understanding the difference Modern marketing tactics suggests that we promote the specific attributes of products www.optiran.ir
  • The product Mix:The total product line that is offered for salei.e.frames, lenses ,sunglasses,etcThe mix represents everything needed ordesired by the customer www.optiran.ir
  • The product portfolio:  Group of closely-related products for example the frame boardThe key to managing a product potflio is to workwith it until it provides as much profit as possible www.optiran.ir
  • The product life cyle(George day) Introductory stage: new and exciting Growth stage:popular items-most wanted Maturity stage: profitable days behind Decline stage:cost you money to keep www.optiran.ir
  • Introduction competing against older, established products businesses need to identify those that are dissatisfied with the current problems product should be basic and not too complicated guarantee and warranties not widely distributed price usually high promotion needs to inform the customer www.optiran.ir
  • Growth if product successful, competitors will enter the market features and options must be added wider distribution adjustment in pricing promotion must attract customers, advantages of the product www.optiran.ir
  • Maturity sales peak, profit begin to decline, customers have the product and there are many companies in the market, competition becomes very intense all products features, option, guarantees/warranties are similar (so customer service options could be added) pricing become very competitive increase availability of the product becomes wider promotion – why their product is better www.optiran.ir
  • Decline product is no longer satisfying or they discover new and better products, sales drop, little or no profit try to identify other uses distribution is reduce price is usually reduced more selective and less promotions www.optiran.ir
  • Stages in a Life Cycle SALES PROFITSIntroduction Growth Maturity Decline www.optiran.ir
  • Adding toyour product portfolioMarketing reasonsTechnology reasons www.optiran.ir
  • Promotion Promoting—in house programs Advertising—out of house ads Selling—the activity employed to gain business Public relations—education and public awareness activities www.optiran.ir
  • Pricing What is your market position? Who is the target group? What is the marketing mix? What are the competetion prices? Do you need to make changes due to a marketing condition? Any change due to economic condition? www.optiran.ir
  • General pricing considerations:  Cost factors  Competition factors  Supply / demand factors www.optiran.ir
  • Product life cycle pricing Introductory high price Growth stage cont,ed high price Mature stage reduce price Decline cost or even lower www.optiran.ir
  • place Location is the key to success www.optiran.ir
  • SWOP-an analysis of yourcompetition and yourselfS stands for strengthW stands for weaknessO stands for opportunityP stands for problems www.optiran.ir
  • Some usefull sites: www.mba-ce.com www.reviewob.com www.optometricmanagement.com www.optiran.ir