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16 Cards in this Set

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  • Back
What are the four "P's (5 P's) of marketing?
1)product
2)price
3)place
4)promotion
5)positioning
Define marketing myopoia
businesses which narrowly define themselves based on their primary product offering
What consistutes place?
1)where the product is being offered, including physical attributes of the location
2)includes HOW the product is distrubeted
What is the definition of positioning?
What a consumer thinks of a product relative to other products
Contrary to popular belief, needs _____ created or influenced by society or marketers. Needs _____ marketers and marketing activities.
are not; preceed
Define wants
desires for specific satisfiers of needs
Wants ____ shaped and influenced by society and marketers
may be
Define demands
Wants that are backed up by an ABILITY and WILLINGNESS to purchase them
What are strategies that pharmacies use to address negative demand about their proudcts?
Understand patients' TRUE MOTIVATIONS for obtaining their products
Classifying products:
define hybrid
offering consists of equal parts tangible goods and services
(Prescription drug products and Restaurants)
Classifying products:
define pure service
offering consists primarily of an INTANGIBLE service
(pharmacoeconomic analysis, psychotherapy, attending a culutral or sporting event)
List the 9 basic difference between services and tangible goods (Lovelock and Wright)
1)ownership
2)intangible
3)greater customer involvement
4)more difficult to standandize
5)evaluating difficutly
6)absence of inventories
7)time is more important
8)delivery systems
What are implications of the difference for marketing services?
1)need to match consumer demand w/ your capacity to provide the service
2)standardization
3)more promotional messages
What are the benefits of relationship marketing for the marketer?
1)learn more about needs of customers
2)less expensive to retain than to gain new customers
What are the benefits of relationship marketing to consumers?
1)economic benefits
2)reduce stress/increase trust
3)reduces need to change relationships
What are implications of relationship marketing for the pharmacy?
1)better patient care
2)ready data access to learn about patient needs
3)develop relationships