3. INTODUCTION
• Marketing refers to any actions a company takes to attract
an audience to the company's product or services through
high-quality messaging.
• The purpose of marketing is to research and analyze your
consumers all the time, conduct focus groups, send out
surveys, study online shopping habits, and ask one
underlying question: "Where, when, and how does our
consumer want to communicate with our business?"
5. GOALS OF MARKETING
Raising Brand
Awareness
This is important because it gets people acquainted with
your brand and the products or services you provide.
Generating
Traffic
Growing the number of visitors to your site means getting
more qualified leads and ultimately increase your sales
Increasing
Revenue
Increase in sales and marketing can help achieve the goal
through optimizing your website and SEO, creating email
campaigns,, and much more.
Tracking
Your Metrics
Growing the number of visitors to your site means getting
more qualified leads and ultimately increase your sales.
8. PRODUCT LIFE CYCLE
• A pharmaceutical product’s can be described in
five distinct phases- development phase, approval
phase, introduction phase, commercialization &
quality management phase and decline phase.
• Number of strategies to be applied at each stage
and the strategies are generally coupled with
regulations, and the choice of strategy may vary
on country to country.
• This may guide the innovators to have
competency to uphold the basic necessity for their
survival, i.e. innovation.
10. PEOPLE Employees, culture,
customer service
PRICE
Strategies, skimming,
penetration, psycological,
7 P’s
7 P’s OF MARKETING
PROCESS Especially relevant to
service industries
PHYSICAL ENVIRONMENT Smart, run-down, interface,
comfort, facilities
PLACE Retail, wholesale, direct
sales
PROMOTION Special offer, advertising,
free gift, user trials
PRODUCT
Design, technology, qualiy,
packaging
11. PRICING METHODS
COST BASED PRICING DEMAND BASED PRICING COMPETITION BASED
PRICING
1.COST PLUS PRICING-
Simplest & direct method to
determine the price of a
product
2. MARKUP PRICING
The price of a product is set
according to the demand of he
product. When the demand of
a product is more, then
company prefers to set high
price for the product to gain
profit.
A company consider the price
of a competitor product to set
the price of their own product.
The company may charge
higher, lower or same price of
its competitor