Marketing in optical businesses


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  • CHAPTER 09 05/20/12 MARKETING
  • Marketing in optical businesses

    1. 1. Marketing foroptical businesses Hossein Mirzaei Msc optom
    2. 2. Learning objectives Analyze and develop solutions to problems in merchandising Sales promotion and store operation Assess and evaluate pricing strategies economic problems and competition
    3. 3. 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.
    4. 4. 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
    5. 5. 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 …….
    6. 6. The size of your organization isnot importantThe size of your bank account is
    7. 7. 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
    9. 9. 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
    10. 10. The Ps of Marketing Planning Strategy Product or service Price cost, profit Promotion creating desire for product Place location Positioning in marketplace
    11. 11. PLANNIG  The Strategy of MarketingWe must answer important questions
    12. 12. Positioning  The first marketing QuestionWhat market position will I assume?Or who am I? Quality price Fast Service
    13. 13. Marketing IdentificationThe second Marketing question : Who is my customer? Market segmentation:grouping people with the same needs orwants
    14. 14. 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?
    15. 15. Third question: What is my mission or purpose? State in one or two sentencesThis should become the foundation of your business
    16. 16. 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
    17. 17. Product (service)The single most important marketing activityis selecting right product for your market
    18. 18. 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
    19. 19. Generic and specific needs Understanding the difference Modern marketing tactics suggests that we promote the specific attributes of products
    20. 20. 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
    21. 21. 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
    22. 22. 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
    23. 23. 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
    24. 24. 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
    25. 25. 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
    26. 26. 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
    27. 27. Stages in a Life Cycle SALES PROFITSIntroduction Growth Maturity Decline
    28. 28. Adding toyour product portfolioMarketing reasonsTechnology reasons
    29. 29. Promotion Promoting—in house programs Advertising—out of house ads Selling—the activity employed to gain business Public relations—education and public awareness activities
    30. 30. 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?
    31. 31. General pricing considerations:  Cost factors  Competition factors  Supply / demand factors
    32. 32. Product life cycle pricing Introductory high price Growth stage cont,ed high price Mature stage reduce price Decline cost or even lower
    33. 33. place Location is the key to success
    34. 34. SWOP-an analysis of yourcompetition and yourselfS stands for strengthW stands for weaknessO stands for opportunityP stands for problems
    35. 35. Some usefull sites: