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This document provides several marketing ideas for an offline pharmacy: 1. Offer free blood pressure and blood sugar tests to diagnose potential customers who will need recurring medication purchases. Mention discounts for purchasing monthly medications. 2. Advertise offering a free blood sugar machine and set strict eligibility rules to verify customers have diabetes. Make money from high margins on recurring test strip purchases. 3. Provide cosmetic products at a loss to attract foot traffic and get customers to also purchase medications.
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SPSS Assignment Data.savWeek 6, Using Marketing Channel.docx
SPSS Assignment Data.sav
Week 6, "Using Marketing Channels and Price to Create Value for Customers" was derived from Principles
of Marketing, which was adapted by the Saylor Foundation under a Creative Commons Attribution-
NonCommercial-ShareAlike 3.0 Unported license without attribution as requested by the work's original
creator or licensee. © 2015, The Saylor Foundation.
1
Week 6
Using Marketing Channels and Price to
Create Value for Customers
Sometimes when you buy a good or service, it passes straight from the producer to you. But
suppose every time you purchased something, you had to contact its maker? For some products or
services, such as a haircut, this would work. But what about the items you purchase at the grocery
store? You couldn't begin to contact and buy from all the makers of those products. It would be an
incredibly inefficient way to do business.
Fortunately, companies partner with one another, alleviating you of this burden. So, for example,
instead of Procter & Gamble selling individual toothbrushes to consumers, it sells many of them
to stores, which then sell them to everyone.
The specific avenue a seller uses to make a finished good or service available for purchase—for
example, whether you are able to buy it directly from the seller, at a store, online, or from a
salesperson—is referred to as the product's marketing channel (or distribution channel). All of
the people and organizations that buy, resell, and promote the product "downstream" as it makes
its way to you are part of the marketing channel.
Likewise, price creates value for customers and is the way the company makes its revenue and
profit by exchanging value with the customer. When Chick-fil-A opens new locations, the
company offers the first 100 customers a free meal every week for a year. Customers camp out
overnight to get in line for the free meals. When KFC introduced its grilled chicken, the company
put coupons good for a free piece of chicken in many Sunday newspapers.
So how do sellers make any money if they always offer goods and services on sale or for a special
deal? Many sellers give customers something for free, hoping they'll buy other products, but a
careful balance is needed to ensure profit.
Price is the only marketing mix variable or part of the offering that generates revenue. Buyers
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are extremely important. So how do organizations decide how to price their goods and services?
This week, we explore both distribution and price as a means to add value for customers.
http://www.saylor.org/site/textbooks/Principles%20of%20Marketing.pdf
http://www.saylor.org/site/textbooks/Principles%20of%20Marketing.pdf
http://creativecommons.org/licenses/by-nc-sa/3.0/
http://creativecommons.org/licenses/by-nc-sa/3.0/
2
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SPSS Assignment Data.savWeek 6, Using Marketing Channel.docx
SPSS Assignment Data.sav
Week 6, "Using Marketing Channels and Price to Create Value for Customers" was derived from Principles
of Marketing, which was adapted by the Saylor Foundation under a Creative Commons Attribution-
NonCommercial-ShareAlike 3.0 Unported license without attribution as requested by the work's original
creator or licensee. © 2015, The Saylor Foundation.
1
Week 6
Using Marketing Channels and Price to
Create Value for Customers
Sometimes when you buy a good or service, it passes straight from the producer to you. But
suppose every time you purchased something, you had to contact its maker? For some products or
services, such as a haircut, this would work. But what about the items you purchase at the grocery
store? You couldn't begin to contact and buy from all the makers of those products. It would be an
incredibly inefficient way to do business.
Fortunately, companies partner with one another, alleviating you of this burden. So, for example,
instead of Procter & Gamble selling individual toothbrushes to consumers, it sells many of them
to stores, which then sell them to everyone.
The specific avenue a seller uses to make a finished good or service available for purchase—for
example, whether you are able to buy it directly from the seller, at a store, online, or from a
salesperson—is referred to as the product's marketing channel (or distribution channel). All of
the people and organizations that buy, resell, and promote the product "downstream" as it makes
its way to you are part of the marketing channel.
Likewise, price creates value for customers and is the way the company makes its revenue and
profit by exchanging value with the customer. When Chick-fil-A opens new locations, the
company offers the first 100 customers a free meal every week for a year. Customers camp out
overnight to get in line for the free meals. When KFC introduced its grilled chicken, the company
put coupons good for a free piece of chicken in many Sunday newspapers.
So how do sellers make any money if they always offer goods and services on sale or for a special
deal? Many sellers give customers something for free, hoping they'll buy other products, but a
careful balance is needed to ensure profit.
Price is the only marketing mix variable or part of the offering that generates revenue. Buyers
relate the price to value. They must feel they are getting value for the price paid. Pricing decisions
are extremely important. So how do organizations decide how to price their goods and services?
This week, we explore both distribution and price as a means to add value for customers.
http://www.saylor.org/site/textbooks/Principles%20of%20Marketing.pdf
http://www.saylor.org/site/textbooks/Principles%20of%20Marketing.pdf
http://creativecommons.org/licenses/by-nc-sa/3.0/
http://creativecommons.org/licenses/by-nc-sa/3.0/
2
6.1 Marketing Channels and Channel Partners
L E A R N.
2. CRM in Marketing.ppt
This document discusses the evolution of customer relationship management (CRM) in marketing from the 1960s to present day. It begins with motivational research and product marketing in the 1960s when brand was most important. It moves to target marketing in the 1980s when customer data became as valuable as product data. Relationship marketing developed in the 1990s to focus on retaining individual customers. The document outlines various CRM marketing initiatives used today like cross-selling, up-selling, customer retention, behavior prediction, and personalization. It also discusses challenges like customer privacy and keys to successful CRM like understanding customer preferences.
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This document discusses marketing channels and distribution. It defines distribution channels as the flow of goods from production to the consumer. Traditional distribution involves manufacturers selling directly to consumers without intermediaries. The document outlines strategies for direct sales and notes advantages of introducing brokers, which include established retailer relationships but higher fees. E-commerce changes distribution by allowing direct sales and reducing intermediaries. The document also defines zero-level to three-level distribution channels involving varying numbers of intermediaries like distributors and wholesalers. Finally, it discusses types of channel conflicts like horizontal conflicts between same-level players and vertical conflicts between different channel members.
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This document summarizes a study on consumer perceptions and issues regarding online grocery stores. The study examines consumer attitudes towards online shopping and factors influencing online purchases. It determines attributes that influence purchase decisions and issues with online shopping. Additionally, it compares grocery shopping preferences based on price, quality, variety, proximity and discounts. The methodology involved a survey of 100 individuals in Kanpur using questionnaires. Key findings indicate consumers purchase online based on discounts, variety, delivery and usability. Respondents agreed they would buy groceries online if available, finding it convenient with variety and time-saving. The study concludes online grocery could be beneficial with the right business model and addresses limitations regarding sample size and location.
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Direct marketing involves communicating directly with target customers to generate a response or transaction. It aims to establish direct relationships with customers by capturing personal information in a database. Databases include customer profiles, purchase histories, and other details used to identify prospects, select customers to receive offers, and build relationships. Direct marketing strategies include direct mail, telemarketing, infomercials, catalogs, and broadcast media. The goal is to directly reach qualified potential customers through these targeted channels.
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The document discusses pricing methods and factors that influence pricing decisions. It outlines various objectives companies consider when setting prices, such as profitability, sales, competition, and customer satisfaction. Pricing methods include cost-based approaches like cost-plus and mark-up pricing, customer-based strategies like customary and demand pricing, and competitor-based tactics like penetration and predatory pricing. Companies also evaluate internal factors like costs and external elements like market conditions and government policies that impact pricing.
JOSENETTE AGARRADO!.pptx
Competition is an important factor for any new business to consider. Direct competitors offer similar products and services to the same target customers, while indirect competitors make some money in the same market. To survive, a business must identify customer needs that competitors are not meeting and differentiate its offerings. A competitive analysis identifies competitors' strengths, weaknesses, products, prices and strategies to find opportunities and threats. Maintaining customer loyalty through superior service, convenient hours and rewards programs is also key to competing successfully.
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With the insurance landscape the way it is, and with wholesale costs rising, independent pharmacies need creative ideas to increase their bottom line.How to Increase Sales
This document provides tips for identifying ideal customers and marketing a product or service. It recommends making a list of customer benefits, researching competitors, focusing on advantages over others, finding win-win negotiations, asking questions to understand customer needs, being patient and well-prepared, and using free social media and content marketing to build relationships and access more potential customers at lower costs.
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This document provides tips for identifying ideal customers and marketing a product or service. It recommends making a list of customer benefits, researching competitors, focusing on advantages over others, finding win-win negotiations, asking questions to understand customer needs, being patient and well-prepared, and using free social media and content marketing to build relationships and access more potential customers at lower costs.
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The document discusses the marketing mix for sWaP watches, a smartwatch and phone product. It covers the key aspects of the marketing mix - product, price, place, and promotion. For the product element, it emphasizes that developing a high quality, unique product is important to drive customer satisfaction and repeat purchases. It recommends using cost-plus or skimming pricing strategies to set a reasonable price that attracts customers while ensuring profitability. Overall, the document suggests that product should be emphasized the most in the marketing mix since the technology needs to be fully developed for customers to be satisfied.
Business markets and business buyer behaviour
This slide is specially design for the learning process of business buyer behavior & how it could be implement for our own business.
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This presents the science and art of pricing pharmacist services and merchandise. It lays out the steps needed to price in community pharmacies.
Similar to Collection (20)
SPSS Assignment Data.savWeek 6, Using Marketing Channel.docx
SPSS Assignment Data.savWeek 6, Using Marketing Channel.docx
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8 Easy Ways For Independent Pharmacies To Increase Profits - HealthSource Dis...
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Collection
- 1. http://www.warriorforum.com/main-internet-marketing-discussion- forum/406679-need-marketing-ideas-offline-pharmacy-marketing.html 1) Offer free blood pressure and Blood sugar tests. These hardly cost anything and if anyone gets diagnosed with something ..you can be sure that after their doctor prescribes them something they will come to you to buy their meds. In fact..you can even mention a discount if they buy their monthly meds from you. (pressure and diabetes patients will have recurring meds for their lifetime so a customer like that is gold) Note: In my country a certified pharmacist was allowed to perform the above tests. Check your country rules. 2) Advertise an offer where you give away a free blood sugar machine. Have strict eligibility rules such as the presentation of medical records so you can verify that they have diabetes. I used to get a few machines for free from my supplier when I bought the testing strips. You could talk to your supplier and do a joint promotion. This worked really well for me because the margin on the testing strips was really high so i made quite a bit of money from customers who came back to buy their strips from me. 3) Be really really good with the little bit of foot traffic you have. I used to use cosmetic products as loss leaders. A lot of customers would come to buy a Gilette Razor and then end up buying their monthly meds from me. TeleVision marketing - high absolute costs but low cost per exposure, appeals to sense of sight sound and motion Newspapers - Flexibility and lower cost than television Direct Mail - High audience selectivity, flexibility, no advertisement competition within the same medium, allows personalisation. expensive cost per exposure due to "junk mail" Magazine - High geographic and demographic selectivity, credibility and prestige, high quality reproduction and long life and good pass-along readership. long purchase lead time and high costs buying kiosk - quick to meet demand, cheap to maintain. low exposure Sales promotions - 20% off items, dilutes brand image and may not be appropriate sales incentives - mainly for salesman commisions, may be expensive to company
- 2. referrals - ask your current customers if there is anyone that might be interested in your product.