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Chapter 1 Introduction to Marketing Chapter 1 slides for Marketing for Pharmacists, 2nd Edition.

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Presentation on theme: "Chapter 1 Introduction to Marketing Chapter 1 slides for Marketing for Pharmacists, 2nd Edition."— Presentation transcript:

1 Chapter 1 Introduction to Marketing Chapter 1 slides for Marketing for Pharmacists, 2nd Edition

2 Learning Objectives marketing Define the term marketing. Describe four key elements associated with the act of marketing. Compare and contrast transactional marketing and relationship marketing. Analyze some of the misconceptions surrounding the practice of marketing. Justify the need for pharmacists to market themselves and their services. Differentiate various approaches to marketing from the marketing concept. Assess key obstacles to the marketing of pharmacists professional services. marketing Define the term marketing. Describe four key elements associated with the act of marketing. Compare and contrast transactional marketing and relationship marketing. Analyze some of the misconceptions surrounding the practice of marketing. Justify the need for pharmacists to market themselves and their services. Differentiate various approaches to marketing from the marketing concept. Assess key obstacles to the marketing of pharmacists professional services.

3 Basic Marketing Principles What is marketing? And why does it have such a bad reputation? What is marketing? And why does it have such a bad reputation? TIP Marketing is not bad --- only some marketers. TIP Marketing is not bad --- only some marketers.

4 Honesty and Ethical Ratings of People in Different Professions, %% Very high/AverageLow/ High Very low Nurses82153 Pharmacists67284 Medical doctors65314 High school teachers64277 Policemen61318 Clergy54358 Bankers Journalists Lawyers Congressmen Advertising practitioners Car salesmen84149 Telemarketers Gallup Poll

5 How have marketers benefited you and society?

6 Whether marketing is good or bad depends on how it is practiced. TIP Actual practice depends on your approach. TIP Actual practice depends on your approach.

7 Marketing Defined TIP Its all about exchanges. TIP Its all about exchanges.

8 Definition of marketing Exchanges between people in which something of value is traded for the purpose of satisfying needs and wants

9 Pharmacist exchanges Dispensing a drug Helping patients select OTC medications Providing drug information to patients or health care professionals Taking a patients blood pressure Counseling patients about drug regimens Dispensing a drug Helping patients select OTC medications Providing drug information to patients or health care professionals Taking a patients blood pressure Counseling patients about drug regimens

10 Pharmacists have exchanges with Patients Physicians Third-party insurers Their employer Their boss Pharmacist co-workers Patients Physicians Third-party insurers Their employer Their boss Pharmacist co-workers

11 Transactional versus Relationship Marketing

12 Two ways of looking at marketing exchanges (a.k.a. transactions) Way 1: Isolated, individual transactions; participants never expect to do business again (transactional marketing ) Way 2: Series of transactions over time Called relationship marketing (RM) RM focuses on developing long-term relationship (i.e., customer loyalty) Way 1: Isolated, individual transactions; participants never expect to do business again (transactional marketing ) Way 2: Series of transactions over time Called relationship marketing (RM) RM focuses on developing long-term relationship (i.e., customer loyalty)

13 Relationship marketing Parties focus less on bargaining hard for deals and more on meeting the needs of the other party. Marketers cultivate relationships over time that will benefit both parties. The choice Transactional marketing – get what you can and get the patient out of the door Relationship marketing – every interaction with a customer is an opportunity to help the customer and strengthen the relationship Parties focus less on bargaining hard for deals and more on meeting the needs of the other party. Marketers cultivate relationships over time that will benefit both parties. The choice Transactional marketing – get what you can and get the patient out of the door Relationship marketing – every interaction with a customer is an opportunity to help the customer and strengthen the relationship

14 Characteristics of Relationship Marketing Develop a relationship with customer. Collect and manage customer information. Individualize your services to customers. Involve front-line personnel. Emphasize long- term outcomes. Relationship Marketing Develop a relationship with customer. Collect and manage customer information. Individualize your services to customers. Involve front-line personnel. Emphasize long- term outcomes. Pharmaceutical Care Establish therapeutic relationship Assess and record patient needs. Create an individualized care plan. Delegate clerical tasks to free up time for professional duties. Monitor impact on patient outcomes. Pharmaceutical Care Establish therapeutic relationship Assess and record patient needs. Create an individualized care plan. Delegate clerical tasks to free up time for professional duties. Monitor impact on patient outcomes.

15 Is pharmacy practice predominantly transactional or relationship-oriented? TransactionalOrientationRelationshipOrientation

16 Every pharmacist is a marketer.

17 Everything pharmacists do can be called marketing: Dispensing a prescription drug C Assisting patients in the selection of OTC medications C Providing drug info to patients or health care professionals C Taking a patients blood pressure C Counseling patients about drug regimens C Recruiting pharmacists for a new job C Educating pharmacy students Dispensing a prescription drug C Assisting patients in the selection of OTC medications C Providing drug info to patients or health care professionals C Taking a patients blood pressure C Counseling patients about drug regimens C Recruiting pharmacists for a new job C Educating pharmacy students

18 Why study marketing? Marketing is A way of problem solving in the real world A way of influencing others Application of marketing can Help you get the job you want Make you a more effective pharmacist Marketing is A way of problem solving in the real world A way of influencing others Application of marketing can Help you get the job you want Make you a more effective pharmacist

19 Misconceptions about Marketing

20 Misconceptions about marketing Marketing is selling or advertising.

21 Pricing MarketingResearch Selling Advertising Distribution Merchandising Marketing

22 Other misconceptions about marketing Marketing is evil. Health care professionals do not need to market. Employee pharmacists do not need to market. Only retail pharmacists need to market. Marketing is evil. Health care professionals do not need to market. Employee pharmacists do not need to market. Only retail pharmacists need to market.

23 Approaches to Addressing Marketing Problems in Pharmacy The way you approach a problem will determine how it is solved.

24 Some process-centered approaches to marketing Production – fast and cheap Sales – fast and cheap with heavy selling Product – better mousetrap

25 Customer-centered approaches to marketing Marketing concept Needs and wants Targeted customers Products and services that satisfy Societal marketing Considers societal impact Marketing concept Needs and wants Targeted customers Products and services that satisfy Societal marketing Considers societal impact

26 What is the dominant approach in pharmacy practice? What is your approach?

27 Major Trends that Will Affect Pharmacist Practice

28 Consumer-driven health care (CDHC) Cost sharing Cost sharing Disease/ wellness management Disease/ wellness management Health savings accounts High-deductible insurance plan

29 Aging of the baby boomers Retirement of post-World War II baby boom generation Demanding, activists Unwilling to accept health care status quo Expect to live longer and healthier lives throughout their retirement Retirement of post-World War II baby boom generation Demanding, activists Unwilling to accept health care status quo Expect to live longer and healthier lives throughout their retirement

30 Around-the-clock society People expect services and products 24/7/365. Convenience is no longer an option in pharmacy practice. Hours Location Speed Choice People expect services and products 24/7/365. Convenience is no longer an option in pharmacy practice. Hours Location Speed Choice

31 Service technology Voice-operated telephone and information systems Bar-code and RFID tracking Robotics Voice-operated telephone and information systems Bar-code and RFID tracking Robotics

32 Service technology: Robotics

33 Speed serviceTouch-screen interactive kiosks Electronic refill reminders Electronic prescribing, fax prescribing ATM-like dispensing machines Increase service Convenience/accessibility Telepharmacy, telephone call centers Internet pharmacy Touch-screen interactive kiosks Diagnostic technologies (e.g., blood pressure machine) Videos and other educational technologies Web education, CD ROMs Customize servicePersonalized patient e-profiles Customer relationship management (CRM) cards Interactive kiosks Interactive Web pages Improve service quality, solve drug-related problems Telephone call centers Electronic prescribing Maintain a patient relationship Personalized patient e-profiles CRM cards Web support groups Using Technology to Serve Patients

34 Health care budgetary constraints Rising health care expenditures concern government and other payers. Medicare, Medicaid, Social Security, and other funding responsibilities Funding battle among health care providers Health care marketers must compete for funds. Rising health care expenditures concern government and other payers. Medicare, Medicaid, Social Security, and other funding responsibilities Funding battle among health care providers Health care marketers must compete for funds.

35 Healthcare innovations Pharmacogenomics Nanotechnology Pharmacogenomics Nanotechnology

36 Rising global competition Medical tourism Thailand, India, Malaysia, Mexico, and Canada competing for the U.S. health care dollar Patients without health care insurance or large-deductible health insurance plans Drug importation/exportation Large cross-border price differentials Medical tourism Thailand, India, Malaysia, Mexico, and Canada competing for the U.S. health care dollar Patients without health care insurance or large-deductible health insurance plans Drug importation/exportation Large cross-border price differentials

37 Key problems with marketing pharmacist services Control of practice by nonpharmacists Product orientation Conflicting professional and merchant roles Poorly defined image of pharmacists among public Pharmacist shortages Silos of health care Control of practice by nonpharmacists Product orientation Conflicting professional and merchant roles Poorly defined image of pharmacists among public Pharmacist shortages Silos of health care

38 Demand for pharmacists New pharmacies opening daily Pharmacist shortages Rising pay Overwork Changing responsibilities New pharmacies opening daily Pharmacist shortages Rising pay Overwork Changing responsibilities

39 Pharmacy Drs Office Home Health Nursing Home Hospital Insurer

40 Conclusion Marketing can change your way of thinking about current pharmacy practice. The goal of this course is to help you develop a marketing mindset. Application of marketing principles can help you change pharmacy practice. Marketing can give you the tools to successfully promote yourself, your ideas, and the profession. Marketing can change your way of thinking about current pharmacy practice. The goal of this course is to help you develop a marketing mindset. Application of marketing principles can help you change pharmacy practice. Marketing can give you the tools to successfully promote yourself, your ideas, and the profession.

41 Questions?


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