Marketing

MARKETING
By
HARIS BIN KHALID
Pharmaceutical is a Business ?
Prior Knowledge for Course
• What is Business
– Definition
• Business has three dimensions of a meaning
– A commerce
– An occupation
– An organization
Business Dimensions
• Commerce
– Business as a commerce is the process that people
produce, exchange and trade goods and services
• Occupation
– Business as an occupation is the acquired set of specialized
skills and abilities that allows people to create valuable
goods and services
• Organization
– Business as an organization is the system of task and
authority relationship that coordinates and controls the
interactions between people so that they work toward a
common goal
Purpose
• All business activity is self-interested

and competitive, and this competition
may benefit people and society when it
leads resources to be employed in their
most profitable use
Introduction to Marketing
Outline
• Define marketing and outline the steps in the
marketing process
• Understanding the Marketplace and Customer
Needs
• Designing a Customer-Driven Marketing Strategy
• Preparing an Integrated Marketing Plan and
Program
• Building Customer Relationships
• Capturing Value from Customers
• The Changing Marketing Landscape
What Is Marketing?
Marketing is a process by which

companies create value for customers
and build strong customer relationships
to capture value from customers in
return
Understanding the Marketplace
and Customer Needs
Core Concepts
• Customer needs, wants, and demands
• Market offerings
• Customer Value and satisfaction
• Exchanges and relationships
• Markets
and Customer Needs
Customer Needs, Wants, and Demands
• States of deprivation
• Physical—food, clothing, warmth, safety
Needs • Social—belonging and affection
• Individual—knowledge and self-expression
• Form that human needs take as they are shaped by

Wants culture and individual personality
Demands • Human wants backed by buying power

and Customer Needs
• Market offerings are some
combination of products, services,
information, or experiences offered to a
market to satisfy a need or want
• Marketing myopia is focusing only on
existing wants and losing sight of
underlying consumer needs
and Customer Needs
Customer Value and Satisfaction
Expectations
Customers
• Value and
satisfaction
Marketers
• Set the right level of
expectations
• Not too high or low
and Customer Needs
Exchange is the act of obtaining a
desired object from someone by offering
something in return
and Customer Needs
Markets are the set of actual and

potential buyers of a product or service
Designing a Customer-Driven
Marketing Strategy
Marketing management is the art and

science of choosing target markets and
building profitable relationships with
them
– What customers will we serve?
– How can we best serve these customers?
Marketing Strategy
Selecting Customers to Serve
Market segmentation refers to dividing

the markets into segments of customers
Target marketing refers to which
segments to go after
Marketing Strategy
Selecting Customers to Serve
Demarketing is marketing to reduce

demand temporarily or permanently; the
aim is not to destroy demand but to
reduce or shift it
Marketing Strategy
Choosing a Value Proposition
• The value proposition is the set of

benefits or values a company promises
to deliver to customers to satisfy their
needs
Marketing Strategy
Marketing Management Orientations
Production Product Selling Marketing Societal

concept concept concept concept concept
Marketing Strategy
Production concept is the idea that

consumers will favor products that are
available or highly affordable
Marketing Strategy

Product concept is the idea that
consumers will favor products that offer
the most quality, performance, and
features. Organizations should
therefore devote its energy to making
continuous product improvements.
Marketing Strategy
Selling concept is the idea that

consumers will not buy enough of the
firm`s products unless it undertakes a
large scale selling and promotion effort
Marketing Strategy
Marketing concept is the idea that

achieving organizational goals depends
on knowing the needs and wants of the
target markets and delivering the
desired satisfactions better than
competitors do
Marketing Strategy
Societal marketing concept is the idea

that a company should make good
marketing decisions by considering
consumers` wants, the company`s
requirements, consumers` long-term
interests, and society`s long-run
interests
Preparing an Integrated Marketing
Plan and Program
• The marketing mix is the set of tools
(four Ps) the firm uses to implement its
marketing strategy. It includes product,
price, promotion, and place.
• Integrated marketing program is a
comprehensive plan that communicates
and delivers the intended value to
chosen customers.
Building Customer Relationships
Customer Relationship Management
(CRM)
• The overall process of building and

maintaining profitable customer
relationships by delivering superior
customer value and satisfaction
Relationship Building Blocks: Customer
Value and Satisfaction
Customer Customer
perceived value satisfaction
• The difference • The extent to
between total which a
customer value product’s
and total perceived
customer cost performance
matches a
buyer’s
expectations
Customer Relationship Levels and Tools
Basic
Relationships
Full
Partnerships
The Changing Nature of Customer
Relationships
• Relating with more carefully selected
customers uses selective relationship
management to target fewer, more
profitable customers
• Relating more deeply and interactively by
incorporating more interactive two way
relationships through blogs, Websites,
online communities and social networks
Partner relationship management

involves working closely with partners in
other company departments and
outside the company to jointly bring
greater value to customers
Partner Relationship Management
• Partners inside the company is every
function area interacting with customers
– Electronically
– Cross-functional teams
• Partners outside the company is how
marketers connect with their suppliers,
channel partners, and competitors by
developing partnerships
Partner Relationship Management
• Supply chain is a channel that stretches

from raw materials to components to
final products to final buyers
• Supply management
• Strategic partners
• Strategic alliances
Capturing Value from Customers
Creating Customer Loyalty and
Retention
• Customer lifetime value is the value of

the entire stream of purchases that the
customer would make over a lifetime of
patronage
Growing Share of Customer
Share of customer is the portion of the

customer`s purchasing that a company
gets in its product categories
Customer equity is the total combined

customer lifetime values of all of the
company`s customers
Building Customer Equity
• Building the right relationships with the
right customers involves treating
customers as assets that need to be
• managed and maximized
Different types of customers require
different relationship management
strategies
– Build the right relationship with the right
customers
The New Marketing Landscape
Major Developments
Rapid
Digital age
globalization
Ethics and
Not-for-profit
social
marketing
responsibility

Marketing

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MARKETING

• All business activity is self-interested

Marketing is a process by which

• Form that human needs take as they are shaped by

Demands • Human wants backed by buying power

Markets are the set of actual and

Marketing management is the art and

Market segmentation refers to dividing

Demarketing is marketing to reduce

• The value proposition is the set of

Production Product Selling Marketing Societal

Production concept is the idea that

Marketing Management Orientations

Selling concept is the idea that

Marketing concept is the idea that

Societal marketing concept is the idea

• The overall process of building and

Partner relationship management

• Supply chain is a channel that stretches

• Customer lifetime value is the value of

Share of customer is the portion of the

Customer equity is the total combined

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