Podcast
Questions and Answers
What is the primary focus of the selling concept?
What is the primary focus of the selling concept?
Which type of goods does the selling concept best apply to?
Which type of goods does the selling concept best apply to?
In which market approach does the focus start from understanding the market?
In which market approach does the focus start from understanding the market?
What is a characteristic of the marketing concept compared to the selling concept?
What is a characteristic of the marketing concept compared to the selling concept?
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Which of the following statements about the effectiveness of the selling concept is true?
Which of the following statements about the effectiveness of the selling concept is true?
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What does the marketing concept prioritize in its philosophy?
What does the marketing concept prioritize in its philosophy?
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What is a significant risk associated with the production concept?
What is a significant risk associated with the production concept?
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Which marketing concept focuses primarily on product features and quality?
Which marketing concept focuses primarily on product features and quality?
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What does the marketing process aim to create?
What does the marketing process aim to create?
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Which aspect does the production concept neglect in its approach?
Which aspect does the production concept neglect in its approach?
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What is the main assumption of the Selling Concept?
What is the main assumption of the Selling Concept?
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What does the Marketing Concept prioritize?
What does the Marketing Concept prioritize?
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What is a key aspect of the societal marketing concept?
What is a key aspect of the societal marketing concept?
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Which of the following best describes sustainable marketing?
Which of the following best describes sustainable marketing?
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Which element is part of the communication mix in marketing?
Which element is part of the communication mix in marketing?
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What defines advertising in the context of marketing?
What defines advertising in the context of marketing?
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Which of these methods is primarily classified under sales promotions?
Which of these methods is primarily classified under sales promotions?
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What type of marketing is characterized by (un)paid promotions to increase consumption?
What type of marketing is characterized by (un)paid promotions to increase consumption?
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Which form of marketing communication is known for its broad outreach?
Which form of marketing communication is known for its broad outreach?
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What does the societal marketing concept emphasize?
What does the societal marketing concept emphasize?
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Study Notes
Marketing and Advertisement in Pharmacy
- Marketing is the methodology of communicating a product or service's value to customers to drive sales.
- It involves planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services.
- Marketing aims to create exchanges that meet individual and organizational objectives.
- The core element is identifying and satisfying customer needs for corporate gain.
- Marketing concept is a customer-centric approach implemented across the organization to offer better services and achieve objectives than competitors.
5 Marketing Concepts
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Production Concept: Consumers favour readily available, affordable products. This can lead to focusing solely on price and production efficiency, potentially overlooking other customer needs (marketing myopia).
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Product Concept: Emphasizes product quality regardless of price. Focuses on improving product features, technologies, and potentially overlooks market demand; can lead to unsalable products.
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Selling Concept: Market saturation or oversaturation; focuses on selling already produced products, even if not ideal for the customer, often relying on promotional campaigns.
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Marketing Concept: Identifies and meets customer needs with an appropriate product using the 4Ps (product, price, promotion, place). This involves both reactive (recognizing existing needs) and proactive (anticipating future needs) market orientations.
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Societal Marketing Concept: Consider society's well-being. The approach balances customer needs with societal benefit and sustainability.
Elements of Marketing Mix (4 Ps)
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Product: Features, quality, branding, packaging, and warranties.
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Price: Pricing strategy, allowances, discounts, and payment terms.
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Promotion: Advertising, public relations, direct marketing, and sales promotion.
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Place: Channels, market coverage, assortment, location, inventory, and transportation.
Communication with Customers
- Advertisement
- Direct marketing
- Sales promotion
- Event marketing/sponsoring
- Personal sale
- Online communication
Advertisement
- Advertising is a component of the marketing mix employed to reach large audiences and boost product consumption.
Advertisement in Pharmacy
- Various tools exist for advertising in pharmacies, including TV, radio, print, outdoor, online advertisements, visits with sales representatives, drug samples, promotions of prescribing/dispensing, sponsorship, and other sales-boosting methods.
- Pharmacies need to ensure accurate product data in advertisement literature, avoid misleading information or hidden details about drugs or diseases, and comply with regulations. In leaflets or catalogues/price lists, product description must be included.
Legislation
- Czech Republic's laws regulate advertising for human medicinal products, consumer protection, and unfair commercial practices.
- Relevant Acts, Directives, and regulations, including Act No. 40/1995 Coll., Act No. 634/1992 Coll., Act No. 89/2012, SÚKL Instruction UST-27, and European Directives, shape the landscape, including the main executive body (SÚKL). Other authorities are involved depending on the type of product.
Advertising of Medicinal Products
- Advertising must align with specific instructions to reflect real data and avoid misleading potential customers. Medicinal product information must align with that given by the SPC (Summary of Product Characteristics).
- Advertising of OTC, and other prescription-only drugs, is regulated differently. Advertising targeting specific customer groups, such as healthcare professionals, has different requirements.
Advertising of Dietary Supplements
- Dietary supplement advertising needs explicit labelling as a supplement, and avoids potentially misleading or unproven claims on therapeutic benefits.
Advertising of Medical Devices
- Advertisement for medical devices requires adhering to the Medical Device Regulation (MDR) (effective in May 2021).
- Accuracy, reliability, and lack of misleading advertising are necessary. Misleading or unrealistic claims of benefits are prohibited.
Differences between Czech (EU) and US Legislation
- The Czech Republic's (EU) and US's legislative approaches differ on several points including how advertising for prescription drugs to a broader audience is handled.
- In the US, advertising may include sample distribution to promote the product in an acceptable way.
Risks of Advertising in Pharmacy
- Pharmaceutical consumption is increasing.
- Advertising in the sector significantly influences consumer behavior.
- The potential overuse of over-the-counter medications and misunderstanding of prescription medicine risks are key issues to consider.
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Description
Explore the key concepts of marketing and advertisement within the pharmacy sector. This quiz covers essential marketing methodologies and principles aimed at satisfying customer needs while driving sales. Understand the different marketing concepts that can influence pharmacy practices and overall business objectives.
