Principles of Marketing Ppt

Principles of Marketing
By
Aamir
Overview:
The principles of marketing encompass fundamental concepts and strategies that

guide organizations in promoting their products and services.
These principles help businesses
• understand their customers,
• create value,
• build strong relationships.
The principles of pharmaceutical marketing

involve a set of activities aimed at increasing awareness and loyalty to pharmaceutical brands and products.
Effective pharmaceutical marketing strategies consider the needs of various stakeholders,
• Healthcare professionals,
• Patients
Understanding the Pharmaceutical Market
 Identifying the target market and understanding their needs and behaviors
 Analyzing market trends and competitor activity
 Developing marketing strategies that align with business objectives
Product Development and Management
 Developing and launching new pharmaceutical products

 Managing product life cycles and ensuring compliance with regulatory requirements
 Building and maintaining relationships with healthcare professionals and key opinion leaders
Distribution Channels
 Managing relationships with wholesalers, retailers, and other distribution partners

 Ensuring efficient and effective distribution of pharmaceutical products
 Developing strategies to optimize product availability and accessibility
Competitive Practices
 Developing and executing competitive marketing strategies

 Managing advertising, promotion, and pricing activities
 Building and maintaining a strong brand reputation
Controls and Regulations
 Ensuring compliance with regulatory requirements and industry codes of practice

 Managing internal controls and risk management processes
 Developing strategies to address emerging issues and trends in pharmaceutical marketing
1.Understanding Customer Needs and Wants
 Customer Focus: Successful marketing starts with understanding the needs, desires, and preferences of the
target audience.
In pharmaceutical segment, Drs, Pharmacists, Nurses, LHVs (HCPs) are primary customers.
 Market Research: Conducting surveys, interviews, and focus groups to gather insights about customer
behavior and expectations.
2. Creating Value
 Value Proposition: Clearly articulating (speaking) the benefits and value that a product or service provides
to customers.
 Differentiation: Establishing what makes a product unique compared to competitors, whether through
features, quality, or price.
3. Segmentation, Targeting, and Positioning (STP)
 Segmentation: Dividing the market into distinct groups based on characteristics like demographics,
psychographics, or behavior.
In pharma sector HCPs can be segmented according to Doctors specialties.
 Targeting: Selecting specific segments to focus marketing efforts on, ensuring alignment with the
organization’s strengths (patients classes).
 Positioning: Crafting a unique image and identity for a product in the minds of the target audience to
differentiate it from competitors.
4. The Marketing Mix (4 Ps)
1. Product: Refers to the goods or services offered, including design, features, quality, branding, and
packaging.
2. Price: Involves setting a price that reflects the product's value while considering competition, costs, and
customer willingness to pay.
3. Place: Focuses on distribution channels and ensuring that products are available to customers where and
when they want them.
4. Promotion: Encompasses all activities aimed at informing and persuading customers, including advertising,
sales promotions, public relations, and personal selling.
5. Building Strong Relationships
 Customer Relationship Management (CRM): Developing strategies to engage with customers and enhance
their experiences, leading to loyalty and repeat business.
 Engagement: Actively interacting with customers through social media, feedback mechanisms, and
personalized communication.
6. Adapting to Change
 Market Trends: Staying aware of and responsive to changes in consumer behavior, technology, and
competitive landscape.
 Agility: Being flexible in marketing strategies and tactics to address emerging opportunities and threats.
7. Ethics and Social Responsibility
 Ethical Marketing: Promoting honesty, transparency, and respect for consumers and competitors.
 Sustainability: Considering the social and environmental impact of marketing practices and striving for
responsible approaches.
8. Measuring and Analyzing Performance
 Metrics (standards) and KPIs: Establishing key performance indicators to evaluate the effectiveness of
marketing strategies and campaigns.
 Data-Driven Decisions: Using analytics to assess outcomes, understand customer behavior, and refine
marketing efforts.
Conclusion
•These principles are essential for pharmaceutical companies to successfully market their products and build
strong relationships with their customers and stakeholders.
• Understanding and applying the principles of marketing is essential for organizations seeking to connect with
customers effectively, create value, and achieve their business objectives.
•By focusing on customer needs, leveraging the marketing mix, and fostering strong relationships, businesses
can navigate the complexities of the marketplace and drive success.

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Principles of Marketing

The principles of marketing encompass fundamental concepts and strategies that

The principles of pharmaceutical marketing

 Developing and launching new pharmaceutical products

 Managing relationships with wholesalers, retailers, and other distribution partners

 Developing and executing competitive marketing strategies

 Ensuring compliance with regulatory requirements and industry codes of practice

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