Professional Documents
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Presentation on
Presented By:
Aalok Prakash Singh Chauhan
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Introduction
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Need the basic human requirements, viz. food, air, water, clothing,
shelter & also education, entertainment, communication, social status,
etc.
Want needs directed towards specific objects that satisfy the need.
Demand want for product backed by ability to pay.
Traditionally a market was a physical place where buyers & sellers
gathered to exchange goods but now marketers view sellers as the
industry & buyers as the market. The sellers send goods & services &
communications (promotions, ads) & in return they receive money &
information (attitudes, sales & data).
Product concept holds that consumers prefer those products that offer
the highest quality, performance or features. Thus producers are
engrossed in giving quality & overlook what consumers actually want.
Leads to marketing myopia.
E.g.: Tata Indica gives more mileage & hence value, thus their USP is
more car per car.
Competition includes all the actual & potential rival offerings & substitutes that a
buyer might consider. There may be different types of competition:
1.Brand competition similar product at similar price. Eg: Revlon/ Loreal.
2.Industry competition similar class of products. Eg: All lipstick manufacturers.
3.Form competition all products giving similar service. Eg: All cosmetics.
4.Generic competition competing for same consumer rupees. Eg: trendy
apparels, bags, shoes, etc.
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Marketing Mix
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STP Framework
Target marketing requires marketers to take
three major steps:
Identify and profile distinct groups of buyers who
differ in their needs and preferences (market
segmentation).
Select one or more market segments to enter (market
targeting).
For each target segment, establish and communicate
the key distinctive benefit(s) of the companys
market offering (market positioning).
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Consumer Characteristics
Geographic
Demographic
Psychographic
Consumer Response
Behavioral
Market Targeting:
Not all segments are useful
To be useful a segment must score favorably on the following criteria
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Positioning:
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Comparative analysis
Find the experts who will help support your marketing efforts through speaking
engagements, newspaper interviews, and quotes for newsletters and media
releases.
Locate your champions in the organization.
Study your competitors, considering their historical advertising levels, any new
product launches that may be forthcoming.
Develop your own unique selling proposition. What makes you different from your
competition?
Assessment:
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Budget
Segment your market
Define your vision and strategy:
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Timing is everything
Plan your rollout to maximize exposure.
You may want to track new patients, calls for information, physician referrals,
website hits, patient/procedure volumes or other data meaningful to your
organization.
You should also consider consumer preference and top-of-mind awareness,
which may translate into volumes in the future.
Turn your ideas into the creative product that will support your plan.
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contact program
Development of Specialized services
Client referral program
Proposal letters
List serves
Corporate Gifting
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Healthcare Newsletter
Email/Fax Broadcasts
Small Social Gatherings
Sponsorships
Authorship for articles and books
Direct Mail
Advertising
Partnering Local Business Journal
Attendance at Industry Meetings
Gifting
Healthcare Business Reply Card
Recruitment of Business Development Person
Speeches both internal and external
Network with Healthcare Attorneys
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emerging trends
reform uncertainties
emergence of social marketing
renewed focus on quality
outcome and prevention
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Conclusion
Unique Approach
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Conclusion
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