...MARKETING FOR HEALTH CARE INTRODUCTION Various concepts like target market, market segmentation, SWOT analysis, market research etc, constitutes Marketing for Health Care. Marketer should generally understand all the concepts related to marketing which helps in reaching the objectives in the given period. As health care industry should be dealt cautiously, market research is highly essential with the above mentioned concepts incorporated in the research. BETTER UNDERSTANDING OF CONCEPTS Market segmentation is crucial in marketing as it deals with the segmentation of the market depending on the groups and targeting the audience for desired results. These different groups are categorized under different categories and then the target market is considered. Research is the important concept for any industry as it includes gathering of information of the desired area. The data which is collected is then analyzed and scrutinized after which segmentation takes place. This should be done in a way which is fulfilled according to the needs and objectives of the organization. Hence, an action plan is prepared in which the plan is incorporated and the results are reviewed after the implementation of the plan in to organization. Market research is vital in any organization as it determines the types of methods and the steps involved in the research. Among all the concepts, SWOT analysis is the best as it does both internal and external analysis to determine strengths, weakness, threats...
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...Answer: B Diff: 1 Page Ref: 5 Skill: Concept Objective: 1.1: Understand what consumer behavior is and the different types of consumers 2) Which of the following is considered an example of consumer behavior? A) Janice prefers to buy name-brand pain relievers like Tylenol and Advil, rather than the store brand. B) Javier generally gets gas on Monday mornings on his way to work. C) Jessica prefers to buy her produce from the farmer's market instead of the grocery store. D) Jeremy generally recycles his old newspapers and cardboard boxes. E) All of the above are examples of consumer behavior. Answer: E Diff: 2 Page Ref: 5 Skill: Application Objective: 1.1: Understand what consumer behavior is and the different types of consumers 3) When Bill orders five movie tickets online for himself and his friends for a Friday night showing of the latest action thriller, he is acting as a(n) A) organizational consumer B) team consumer C) non-profit consumer D) market consumer E) personal consumer Answer: E Diff: 2 Page Ref: 5 Skill: Application Objective: 1.1: Understand what consumer behavior is and the different types of consumers 4) The term "consumer behavior" describes two different kinds of consumers: ________ and ________ consumers. A) non-profit; government B) non-profit; for profit C) personal; organizational D) government; private E) organizational; private Answer: C Diff: 1 Page Ref: 5 Skill: Concept Objective: 1.1:...
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...Ch11-H8566.qxd 8/8/07 2:04 PM Page 222 CHAPTER 11 Market segmentation YORAM (JERRY) WIND and DAVID R. BELL All markets are heterogeneous. This is evident from observation and from the proliferation of popular books describing the heterogeneity of local and global markets. Consider, for example, The Nine Nations of North America (Garreau, 1982), Latitudes and Attitudes: An Atlas of American Tastes, Trends, Politics and Passions (Weiss, 1994) and Mastering Global Markets: Strategies for Today’s Trade Globalist (Czinkota et al., 2003). When reflecting on the nature of markets, consumer behaviour and competitive activities, it is obvious that no product or service appeals to all consumers and even those who purchase the same product may do so for diverse reasons. The Coca Cola Company, for example, varies levels of sweetness, effervescence and package size according to local tastes and conditions. Effective marketing and business strategy therefore requires a segmentation of the market into homogeneous segments, an understanding of the needs and wants of these segments, the design of products and services that meet those needs and development of marketing strategies, to effectively reach the target segments. Thus focusing on segments is at the core of organizations’ efforts to become customer driven; it is also the key to effective resource allocation and deployment. The level of segment aggregation is an increasingly important issue. In today’s global economy,...
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...Marketing Britvic Case Study – Assessment 1 1. Characteristics of the marketing concept. The Selling Concept – This concept doesn’t primarily focus on new consumer wants or desires but focuses on the selling and promotion of a particular already existing product in order to achieve the highest sales they possibly can. This technique is suited to companies who sell products which are in high demand and whose customers/consumers tastes are unlikely to change and lessen demand. The Production Concept – Companies focusing on this concept will primarily focus on achieving high production efficiency at low costs and mass distribution as they believe the consumers are primarily interested in widely available products at low prices. This concept makes sense when the consumers are more interested in obtaining the product than features. The Product Concept – Companies will study a product concept before they market the product to their customers are a lot of time and money is spent on research to ensure they reach their target market, in order to do this they must fully understand and know the product to ensure they can present the products best qualities and features. 2. Britvic’s micro and macro environment. The micro environment of Britvic consists of factors that affect their business which they have some control over. Some of these factors are suppliers, customers and stakeholders. The micro environment can mostly be considered the local environment where...
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...practice. The very first edition of Marketing Management, published in 1967, introduced the concept that companies must be customer-and-market driven. But there was little mention of what have now become funda- mental topics such as segmentation, targeting, and positioning. Concepts such as brand equity, customer value analysis, database marketing, e-commerce, value networks, hybrid channels, supply chain management. Marketing Management is the leading marketing text because its content and organization consistently reflect changes in marketing theory and practice. The very first edition of Marketing Management, published in 1967, introduced the concept that companies must be customer-and-market driven. But there was little mention of what have now become funda- mental topics such as segmentation, targeting, and positioning. Concepts such as brand equity, customer value analysis, database marketing, e-commerce, value networks, hybrid channels, supply chain management. Marketing Management is the leading marketing text because its content and organization consistently reflect changes in marketing theory and practice. The very first edition of Marketing Management, published in 1967, introduced the concept that companies must be customer-and-market driven. But there was little mention of what have now become funda- mental topics such as segmentation, targeting, and positioning. Concepts such as brand equity, customer value analysis, database marketing, e-commerce, value networks...
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...treated like children. Answer: TRUE Diff: 1 Page Ref: 80 Question Tag: Definition (Concept) Objective: 4-1 2) Companies that sell pet-related products have had to change what they sell as attitudes towards pets has changed. Answer: TRUE Diff: 1 Page Ref: 80 Question Tag: Definition (Concept) Objective: 4-1 3) PetSmart operates a large number of retail outlets and has begun opening a series of pet hotels. Answer: TRUE Diff: 2 Page Ref: 81 Question Tag: Definition (Concept) Objective: 4-1 4) The IMC planning process begins with an analysis of a company's context, which is a review of their customers, target market, and product positioning. Answer: FALSE Diff: 2 Page Ref: 82 Question Tag: Definition (Concept) Objective: 4-1 5) Developing an integrated marketing communications plan requires the analysis of the three C's: customers, competitors, and communications. Answer: TRUE Diff: 2 Page Ref: 82 Question Tag: Definition (Concept) Objective: 4-1 6) The first step in the IMC planning analysis is the creation of a communications budget. Answer: FALSE Diff: 2 Page Ref: 82 Question Tag: Definition (Concept) Objective: 4-1 7) When conducting an analysis of customers, the marketing team should examine competitors' customers as well as current, former, and potential customers. Answer: TRUE Diff: 1 Page Ref: 82 Question Tag: Definition (Concept) Objective: 4-1 8) Developing an integrated marketing communications plan requires...
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...been traditional and realistically environmental friendly and consumer friendly natural medicinal products. When studying on primary value of the brand and the organization value generation process they have followed a 5 step marketing process 1. Understand the market place and customer needs and wants 2. Design a customer driven marketing strategy 3. Construct an integrated that delivers superior value 4. Build profitable relationships and create customer delight 5. Capture values from customers to create profits and customer equity Understanding the market place and customer needs means understanding the needs wants and demands of the customers and what the market offerings for the customers are. Market offerings means some combinations of products, services, information or experience offered to a market to satisfy a need or a want. One of the important points in understanding the market place is value and satisfaction which marketers must be careful to set the right level of expectations. When understanding the marketplace it should care exchanges and relationships and also the markets. Exchange means the act of obtaining a desired object from someone by offering something in return. Market is the set of all actual and potential buyers of a product or a service. When considering the above facts, Siddahlepa...
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...OVERVIEW OF MARKETING MODULE -1 OVERVIEW OF MARKETING OVERVIEW OF MARKETING 1 LEARNING OBJECTIVES After reading this module, students should: Know why marketing is important Know what is the scope of marketing Know some of the fundamental marketing concepts Know how marketing management has changed Know what are the necessary tasks for successful marketing management Know scope and importance of marketing Know what are the recent trends of marketing Know what are the different levels of market segmentation Know how a company can divide a market into segments Know how a company should choose the most attractive target markets Know what marketing mixes are. SUMMARY From a managerial point of view, marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake holders. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. Marketers are skilled at managing demand: They seek to influence the level, timing, and composition of demand. Marketers are involved in marketing many types of entities: goods, services, events, experiences, persons, places, properties, organizations, information, and ideas. They also operate in four different marketplaces: consumer...
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...VALUE MARKET SEGMENTATION ANALYSIS AND A VALUE PROPOSITION Your U.S.-based company has decided to explore the possibility of developing a business based on the organic farm concept Daylesford—developed by Lady Bamford—which is successful in the UK (daylesford.com). Please prepare a report that would form the basis of a planning discussion with your senior marketing managers. Your report should include a detailed analysis of a potential market segment and a description of the proposed value proposition. Your report should be about 1,000–1,250 words and include a minimum of three references. Please use the APA format for your paper and references. Please include the following sections. MKTG 522 WEEK 3 ASSIGNMENT CREATE THE VALUE MARKET SEGMENTATION ANALYSIS AND A VALUE PROPOSITION Your U.S.-based company has decided to explore the possibility of developing a business based on the organic farm concept Daylesford—developed by Lady Bamford—which is successful in the UK (daylesford.com). Please prepare a report that would form the basis of a planning discussion with your senior marketing managers. Your report should include a detailed analysis of a potential market segment and a description of the proposed value proposition. Your report should be about 1,000–1,250 words and include a minimum of three references. Please use the APA format for your paper and references. Please include the following sections. MKTG 522 WEEK 3 ASSIGNMENT CREATE THE VALUE MARKET SEGMENTATION ANALYSIS...
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...Introduction to Marketing Dahlia El-Manstrly Department of Management Marketing Concepts . Marketing dynamics . Consumer behaviour . Market segmentation . Marketing mix . Customer relationship management Marketing definition 'The management process responsible for identifying, anticipating and satisfying customer requirements profitably' (CIM) 'satisfying needs and wants through an exchange process' (Kotler,2009) Dissatisfied customers can tell up to eleven other people about their bad experiences, which is two to three times more people than a satisfied customer will talk to. Smith, 1993 Consumer Behaviour- Customers How do they buy? What are their choice criteria? Who is important? Where do they buy? When do they buy? D Jobber, Principles and Practice of Marketing, . 1998 McGraw-Hill Consumer Behaviour Cont. .What do customers wants? .Functional Value .Social Value .Emotional Value .Epistemic Value .Conditional Value .What role (s) do customers play? .Customer as a user .Customer as a buyer .Customer as a payer Decision making process I’m hungry Problem recognition What’s available? Information search Fruit or chocolate? Information evaluation Chocolate! Decision I should’ve had fruit. Post-purchase evaluation How do consumers make a purchase decisions? High involvement: the Fishbein and Ajzen model...
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...1. Marketing concept: The basic function of marketing is to attract and retain customers at a profit. The traditional marketing concept is companies achieve their profit and other objectives by satisfying customers. However, traditional marketing concept is necessary but not sufficient condition for company goals. Therefore, in order to achieve successful, the modern marketing concept is to achievement and set of corporate goals through meeting and exceeding customer needs and expectations better than the competition. However, marketing concept including three condition, customer orientation, integrated effort and goal achievement. First, Corporate activities are focused on providing customer satisfaction rather than others. For example, provide good customers service and producer convenience. Second, all staff need to accept the responsibility for creating customer satisfaction. Company should right to operation production, finance and developing department. Finally, the company achieves goals through customer satisfaction. However, there are has the limitation of marketing concept. Four issue, the marketing concept as an ideology, marketing and society, marketing as a constraint on innovation, and marketing as a source of dullness. Marketing orientation: Marketing orientation focus on customer needs. Company need to change present potential market opportunities to drive the company. Marketing orientation companies seek to demand of current marketing...
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...UNIT 4 Marketing Principles LO2 Be able to use the concepts of segmentation, targeting and positioning CASE STUDY: You are a Business Development Consultant. Your Firm is hired by a small business enterprise that is facing myriads of marketing and organizational challenges. YOUR JOB AS A BUSINESS DEVELOPMENT CONSULTANT IS TO 1) Analyze the problems in the business, 2) Research solutions and/or benchmark good practices, 3) Make suitable recommendations for improvements, and 4) Help the business to implement these recommendations satisfactorily. TEAM ASSIGNMENTS PRESENTATION: 15 MINUTES LEARNING OUTCOME 2: Be able to use the concepts of segmentation, targeting and positioning 2.1 Show macro and micro environmental factors which influence marketing decisions 2.2 Propose segmentation criteria to be used for products in different markets 2.3 Choose a targeting strategy for a selected product/service 2.4 Demonstrate how buyer behavior affects marketing activities in different buying situations 2.5 Propose new positioning for a selected product/service Submission Deadline: November 16, 2015 TEAM ASSIGNMENT: AC 2.1 Show macro and micro environmental factors which influence marketing decisions Guiding Term Paper Questions The business believes that competition from nearby businesses is preventing it from growing and increasing sales. However many other micro and macro factors are impacting sales and its marketing decisions. So show the macro...
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...Measuring the stability of Retail Market based on its store images – a fuzzy clustering approach. Abstract Purpose segmentation is the point where marketing activity starts. A flawless segmentation results in comparable competitive advantage. The purpose of this study is to examine the stability of segmentation. Design / methodology/ approach - this research examines the stability of the segments. Shoppers have been segmented based on the importance they’ve given to store image. Data collected through mall intercept interviews has been used for it. Segmentation has been done by K-means clustering and fuzzy clustering methods. Membership grades give the samples’ relative position in the cluster. Findings – Various approaches to segment the market has been analysed and the advantages of fuzzy methods has been obtained. Finally the most stable segment, on the other hand the most volatile segment has been found out. Study reveals that fuzzy clustering is potentially useful to assess the stability of segments. Research limitations / implications Research findings are constrained, as the study concentrates on the behaviour of shoppers based on the influence of store images but segmenting based on demographic or lifestyle variables are not considered. However the stability of segments has been analysed for this segments. Practical implications membership grade gives a clear picture of the real market to the marketer. And it helps the marketer to visualize individual’s...
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...Product life cycle The concept of product life cycle is based on the following observations: * Products have a limited life. * Product sales pass through distinct stages, each posing different challenges, opportunities, and problems to the seller. * Profits rise and fall at different stages of the product lifecycle. * Products require different marketing, financial, manufacturing, purchasing, and the human resource strategies in each stage of their life cycle. Stage Characteristics 1. Market introduction stage 1. costs are very high 2. slow sales volumes to start 3. little or no competition 4. demand has to be created 5. customers have to be prompted to try the product 6. makes no money at this stage 2. Growth stage 1. costs reduced due to economies of scale 2. sales volume increases significantly 3. profitability begins to rise 4. public awareness increases 5. competition begins to increase with a few new players in establishing market 6. increased competition leads to price decreases 3. Maturity stage 1. costs are lowered as a result of production volumes increasing and experience curve effects 2. sales volume peaks and market saturation is reached 3. increase in competitors entering the market 4. prices tend to drop due to the proliferation of competing products 5. brand differentiation and feature diversification is emphasized to maintain or increase market share 6....
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...Segmentation, targeting and positioning are interrelated activities, which are important to achieving a successful marketing mix. Discuss these concepts in theory and give practical example of how they can be applied to one industry of your choice. Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs, and then be designed and implemented to target these specific customer segments, addressing needs or desires that are believed to be common in this segment, using media that is used by the market segment. Today’s generation there are various products in the market. Today I am going to discuss one of them is RADOX BRAND. Radox is helping people unwind for more than a century by creating therapeutic blends of natural ingredients. This product will develop our body and mind. Relax, refresh, and be a little selfish for once with the Radox shower and bath collection – made for those indulgent moments. Running around after others takes it out of you. Radox is designed to help you savour those precious moments to yourself, with a range of shower, bath and cleansing products that make relaxing a joy. Now there are more Radox products than ever before – for the bath and the shower, of course, but also hand washes and scrubs. Radox bubble baths, bath salts, shower gels, spa treatments and even shower smoothies are all formulated to soothe the body and pamper the skin. We think people with busy...
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