Subject: Pharmaceutical Marketing and Management Full Marks - 50 1. Personnel Management: a) Definition, scope, importance, behavioral science and personnel management. b) Motivation, moral and job satisfaction. c) Education, training, management development and performance evaluation. d) Means of achieving harmonious industrial relation collective bargaining, joint consultation worker council, arbitration, and industrial democracy. 2. Production Management: Definition, scope, importance and application of management, techniques and principles to production management, production planning and quality control. 3. Materials Management: a) Purchasing: Formulating effective buying policies, determination of needs and desires of patrons, selecting the sources of supply, determination the terms of purchase, receiving, marketing and stocking goods. b) Inventory control: Methods of inventory control, selection of optimum method, effect of inventory control. 4. Risks Management 5. Pharmaceutical Marketing: a) Promotion: Objectives, classification, developing a promotional plan, promotion strategy, budget and executing the program. Steps of implantation of advertising, types (display, direct mail, etc.) and preparation of advertisement. Personal selling and evaluation of promotion (general and specialized method). b) Pricing: General consideration, pricing method, prescription pricing and professional fees. c) Channel of distribution d) Forecasing of sales 5. Management of Community Pharmacy and Governmental Pharmacy.

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Jaytirmoy Barmon Business Idea Development Planning
Lecturer, Pharmacy, Varendra University
Business Idea Development Planning
Prepared by:
Jaytirmoy Barmon
Lecturer
Department of Pharmacy, VU
Q. What do you mean business idea? Write down the characteristics of a promising
business idea.
Business idea
A business idea is a concept that can be used for financial gain that is usually centered on a
product or service that can be offered for money. An idea is the base of the pyramid when it
comes to the business as a whole.
The characteristics of a promising business idea are:
a) Innovative
b) Unique selling proposition
c) Problem solving
d) Profitable
a) Innovative
For businesses this could mean: creating new ideas, new product development through research
and development or improving existing services. Innovation can be the central focus of a
business and this can help them to grow and become a market leader if they execute their ideas
properly. Businesses that are focused on innovation are usually more efficient, cost effective
and productive.
b) Unique selling proposition
A unique selling point (USP) is the factor that makes a company or a product stand out from
its competitors, whether it is through; pricing, quality, customer service or innovation. Each
successful company has a unique selling proposition (USP). A USP can be created through the
element of being first to a market, for example Uber was the first company to allow
for taxicab hailing via mobile app.
c) Problem solving
Business ideas that solve problems are fundamental to developing the world and companies
such as Curemark are one of many who do this. Curemark is a biotech company founded by
Joan Fallon, who noticed that a lot of the children she treated were low on an enzyme for
processing protein and since then she has quit her job and has built Curemark to solve this
problem. Curemark has now raised $50 million and is on its way to solving a problem that truly
exists.
d) Profitable
Profitability is a business's ability to generate earnings compared to its costs over a certain
period of time. This is possibly the most important aspect of any business idea in the long term,
as this is what makes a business survive in order to keep having the impact that it has. Profitable
ideas need a strong revenue stream against its costs and this tends to create the success of the
business, however some companies defy this and make losses to begin with, yet are still
exceptional business ideas that are worth billions.

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Jaytirmoy Barmon Business Idea Development Planning
Lecturer, Pharmacy, Varendra University
Q. Write down the process of new product development.
Process of New Product Development
Every entrepreneur knows that productivity is one of the key ingredients for successful product
development.
Step 1: Generating
Utilizing basic internal and external SWOT analysis, as well as current marketing trends.
Generating ideologies which take affordability.
Step 2: Screening the Idea
Set specific criteria for ideas that should be continued or dropped.
Step 3: Testing the Concept
Concept testing is done after idea screening. Does the consumer understand, need, or want the
Product or service?
Step 4: Business Analytics
During the New Product Development process, build a system of metrics to monitor progress.
Step 5: Beta/Marketability Tests
Arranging private tests groups, launching beta versions, and then forming test panels after the
product or products have been tested will provide you with valuable information allowing last
minute improvements and tweaks.
Step 6: Technicalities+ Product Development
The production department will make plans to produce the product. The marketing department
will make plans to distribute the product. The finance department will provide the finance for
introducing the new product. It must be sure to have technicalities in line when moving
forward.
Step 7: Commercialize
At this stage, new product developments have gone mainstream, consumers are purchasing the
good or service, and technical support is consistently monitoring progress. Keeping distribution
pipelines loaded with products is an integral part of this process.
Step 8: Post Launch Review and Perfect Pricing
Most new products are introduced with introductory pricing, in which final prices are nailed
down after consumers have ‘gotten in’.
Q. What is Creativity & Innovation? What are the sources of new ideas?
Creativity is the ability to develop new ideas and to discover new ways of looking at
problems & opportunities.
Innovation is the ability to apply creative solutions to those problems & opportunities to
enhance or to enrich people`s lives.
Sources of new ideas
 Consumers & current customers.
 Existing products and services.
 Distribution channels.
 Government.
 Research and development.

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Jaytirmoy Barmon Business Idea Development Planning
Lecturer, Pharmacy, Varendra University
Q. Write down the steps in creative problem solving.
1. Identify the goal, wish, problem or challenge you want to work on. The first step in the
problem-solving process is to spend time defining and understanding your problem.
2. Gather data. Once the problem is identified, gather information about it. If you want to
improve service to the business units, ask questions about why this is important, who is
involved, what solutions have already been tried, what stumbling blocks there are and what
improved service will look like.
3. Clarify the problem. Once you know more about who and what is involved in solving the
problem, you’ll want to restate the problem as specifically as you can. For instance, you might
ask yourself, “In what ways can we begin to improve service to the business units in the next
month without adding staff and without disrupting current operations?”
4. Generate ideas. With a well-defined problem in mind, it can be beginning to generate ideas
using techniques such as brainstorming. The goal of this phase is to create as many Solutions
to the problem as possible. Don’t stop at just eight to 10 ideas; force yourself to Come up with
30 or 40 more. “We Knew from research that the most sophisticated ideas usually surface after
about 35 ideas have been created,’’ Firestein says.
5. Select and strengthen solutions. Specify idea and polish them. Now it is clear that what
must be done, who will perform them, what the deadlines are and who is ultimately responsible.
6. Review action steps and develop a plan.
Q. What is marketing plan? What are the benefits of marketing planning?
Marketing plan
A marketing plan is a business document outlining your marketing strategy and tactics. It's
often focused on a specific period of time (i.e. over the next 12 months) and covers a variety
of marketing-related details, such as costs, goals, and action steps
Benefits of marketing planning
1. Fail less: According to Tracy Timberlake (video marketing strategist), only 8% of people
achieve their goals. That leaves 92% who don’t. We’d bet that a fair share of those don’t do
the planning and research or actually set their goals or accountability properly in the
first place! Give your business the best shot at succeeding by putting these plans in place.
2. Structure: Lack of a structure can much too often send us off in the wrong direction,
chasing the latest shiny new thing that may not even help meet the goals anyway, and being
Business idea development planning less focused on the whole story. Having a structure in
place helps keep everything on track, and if you have a timing plan with tactics as part of your
strategy, even better.
3. Consistency: One thing that all online marketers agree on is consistency. Consistency of
brand, consistency of message and consistency of timings. All these areas are critical, and
without a plan too much separation can creep in, leading to confusing messages being
received by customers. Furthermore, inconsistent work won’t have the level of impact that
well-coordinated projects will.

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Jaytirmoy Barmon Business Idea Development Planning
Lecturer, Pharmacy, Varendra University
4. Accuracy: If you have spent time auditing your 2016 marketing activity and measuring
successes, you’ll have a better understanding of what’s worked well in the past and
what would be most likely to work well in the future. You’ll be able to be more laser-targeted
in your approach (the scattergun approach is no good for anyone!), with clearly defined target
audiences, channels and messages as well as the ability to monitor them.
5. Big picture: After working so hard in your business, you’ll finally get chance to work on
your business from that privileged 50,000 foot level. The business will benefit from your T
shaped viewpoint and you’ll be able to consider how each project influences another,
priorities better and plan the best use of your time and budget.
6. Manageable: From this viewpoint, you’ll be able to take back the reins, and be specific
about where further support or delegation is required, or what isn’t helping you meet your
overall goals at the moment and can be shelved. It will be easier to manage your staff
or external suppliers as they will have clear objectives which link back to your own business
goals, and make any adjustments as necessary.
7. Tracking: Having looked back on 2016 (per month if necessary), you should have a strong
grasp on your benchmarks, so in 2017 you can use analytics to make informed decisions,
based on year-on-year. As long as your digital marketing tracking is in place and you’ve been
able to interpret the data efficiently, you will be able to use it as a management metric
as well as performance indicator.
8. Financial: So many financial decisions cannot be easily made without effective tracking,
reporting and planning in place. Decisions around investment, resources and products all
suddenly get a whole lot easier when taken into account as part of your marketing strategy.
Important topics such as cash flow, payment terms, revenue generation, profit models
and more should synchronize with your sales and marketing processes.
Q. What is financial plan? How to create a financial plan?
Financial plan
In general usage, a financial plan is a comprehensive evaluation of an individual’s current
pay and future financial state by using current known variables to predict future income,
asset values and withdrawal plans.
How to create a financial plan
Creating a personal financial plan will help you achieve any goal you’ve set for yourself.
When building your financial plan, follow these three steps:
Step 1: Determine where you’re going.
These goals will become the driving force behind your overall plan. Your list should include
your short-term, mid-term, and long- term goals, and it should be realistic and specific. Short
term goals are within one year, while mid- term goals are between two to five years and long-
term goals are greater than five years from today.
Step 2: Build in milestones.
Create ‘small wins along the way that motivate you to stick with your financial plan and
reinforce the progress you are making. These small wins become the key milestones of your
financial plan.

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Jaytirmoy Barmon Business Idea Development Planning
Lecturer, Pharmacy, Varendra University
Step 3: Set your monthly goal.
Once you know how much you need to save and how long you have to save it, you can set a
monthly savings goal. Then you can see where that goal fits in your budget. If you find that
you can’t save as your goal requires, take a look at your spending and see if there are places
you could make adjustments. If that doesn’t seem feasible, you may need to add more time to
your goal completion date, change your prioritization, or look for ways to increase money
coming into the household.
Q. Write down the objectives and importance of financial planning
Objectives of Financial Planning
Financial Planning has got many objectives to look forward to:
a. Determining capital requirements- This will depend upon factors like cost of current and
fixed assets, promotional expenses and long- range planning. Capital requirements have to
be looked with both aspects: short- term and long- term requirements.
b. Determining capital structure- The capital structure is the composition of capital, i.e., the
relative kind and proportion of capital required in the business.
c. Framing financial policies with regards to cash control, lending, borrowings, etc.
d. A finance manager ensures that the scarce financial resources are maximally utilized in the
best possible manner at least cost in order to get maximum returns on investment.
Importance of Financial Planning
Financial Planning is process of framing objectives, policies, procedures, programs and
budgets regarding the financial activities of a concern. This ensures effective and adequate
financial and investment policies. The importance can be outlined as-
i. Adequate funds have to be ensured.
ii. Financial Planning helps in ensuring a reasonable balance between outflow and inflow
of funds so that stability is maintained.
iii. Financial Planning ensures that the suppliers of funds are easily investing in companies
which exercise financial planning.
iv. Financial Planning helps in making growth and expansion programs which helps in
long-run survival of the company.
v. Financial Planning reduces uncertainties with regards to changing market trends which
can be faced easily through enough funds.
vi. Financial Planning helps in reducing the uncertainties which can be a hindrance to
growth of the company. This helps in ensuring stability and profitability in concern.
Special Thanks To-
Krishna, Nayem, Wahab, Mahee, Mimi & Afsana
7th Batch Students, Department of Pharmacy, Varendra University, Rajshahi.