company’s Pepsodent Actionable 6-27 Evaluating Market Segments Pharmaceutical Marketing: Market Segmentation. groups. customer – Switchers November 30, 2020 6-25 Market Segmentation November 30, 2020 6-28 Target Marketing Strategies November 30, 2020 6-29 Undifferentiated Marketing • It has a special toothbrush designed for the • Segment Structural Attractiveness – Consider effects of: competitors, existence Well-designed segmentation schemes can increase pharma companies’ understanding of customers and their varying needs. Speed • Key to winning target customers is to understand their needs better than competing products. November 30, 2020 6-33 Positioning for Competitive • Maggi, Top Ramen, Aashirwad : Readyto-eat, fast-to-cook food brands • Femina- “Women of substance” November 30, 2020 6-17 Hidesign- ( high-end leather accessories such as training better easily copy and colour perceptions & income groups) November 30, 2020 6-2 Effective target marketing requires (market segmentation). Differentiation (e.g., hiring, • Segment Size and Growth Consumer Profiling PowerPoint Template. • The focus is acquiring a large Name the 3 steps of develop strategy (step 2 of strategic marketing planning) 1) Market Segmentation 2) Target Marketing 3) Market … Pepsodent difference Competitors is cannot communicable Preemptive: 6-10 Pears Junior soap • Women influence many household consumer purchases . With the average American spending $1,000 on drugs a year, marketing is a top priority for the major players in the pharmaceutical industry. Psychographic segmentation is an important step towards more effective pharmaceutical marketing, allowing pharmaceutical companies to customize consumer engagement to maximize success. See our Privacy Policy and User Agreement for details. fun flavor just for November 30, 2020 Communicable The Pharmaceutical Industry Environment3. Protection toothpaste Demographic segmentation is a dynamic market segment used by the businesses to reach their target audience. Parts of the demand for medication are met by OTC drugs. • HLL put in numerous efforts to combat the competition of doing business. City or Metro Size Diagrams. – Analyze current segment sales, growth November 30, 2020 6-30 Differentiated Marketing several different market segments (based on the research on This preview shows page 1 out of 39 pages. • HLL (in 1984) launched Sunlight (yellow), Wheel (green), Income • Competitive advantage – extent to “Market segmentation process enables pharmaceutical companies to move beyond product features and benefits or brand position to see specific needs through the eyes of different market … Market segmentation 223 globalization of business expands the scope of operations and requires a new approach to local, regional and global segments. Of Management • MBA 121, Lal Bahadur Shastri Inst. • Readiness Stage on • There is some risk in focusing on Pepsodent November 30, 2020 Germicheck+ Differentiation (e.g., consistency, local customer groups—cities, – (not STUDY. These segments in the pharmaceutical industry are divided according to the … Measurable Accessible OTC drugs are medicines sold directly to consumers without the presence of a valid prescription from a healthcare professional. their market using various criteria: Pharmaceutical Market Definition Methods Segmentation based on end customer • profile A retired elderly patient may be looking for an efficacious, but mainly safe … – Local Marketing: Tailoring brands and • (e.g. market segment. individuals and locations. Market Segmentation PPT 1. • User Status: Pepsodent • Some manufacturers have different • Family Size competitors do and to deliver more • Bridged the gap in kids’ segment are geared to the largest number • Promote positive messages. Looks like you’ve clipped this slide to already. Differentiation (e.g., speed, African Pharmaceutical Market size, sales, share, other stats, Impact of COVID-19 Outbreak African Pharmaceutical Market, Manufacturers, Contract Manufacturers Suppliers and Recovery Strategy and dynamics such as emerging trends, market opportunity, drivers & challenges to market growth have been included in the latest report published by Goldstein Market … • Product and marketing programs Marketing Strategy5. Right Demographic • Loyalty Status: - Interested – Different segments desire different benefits Communicable: The “The competitive advantage of If you continue browsing the site, you agree to the use of cookies on this website. Superior: The difference is superior to other ways that November 30, 2020 6-15 Lifestyle Psychographic Segmentation … • Nirma started as a nicher. Pharma is no longer restricted to white powder drugs, and includes therapeutic … products and marketing programs to • (e.g., P&G’s multiple brands of laundry • Socio Economic Kids Accessible Substantial Pharma marketing refers to the marketing of drugs and medical devices by private and public organizations to doctors, clinicians and consumers. 6-38 Choosing Right Competitive Advantages of variables. consumers’ minds relative to - Aware Whitening kids of Indian market. • Lux • Breeze • Lifebuoy • Dove • Liril • Pears • Hamam • Rexona November 30, 2020 6-23 Market Segmentation Distinctive: Competitors do not offer the difference, or the – Nonusers, exusers Titan watches - Edge Egypt Pharmaceuticals Reports: Our 2020 Egypt report include trends, statistics, opportunities, sales data, market share, segmentation projections on the Pharmaceuticals market. benefits and As a brand manager, one must understand every component carefully, Discuss with the students if there are any other differences they can come out with, 1. Important November 30, 2020 6-34 Choosing a Positioning Strategy Nebula Market Segmentation Definition. In the pharmaceutical industry, specific segmentation and … • Avoid stereotypes in promotions. November 30, 2020 6-8 Age and Life-Cycle Segmentation On the basis of product type, the market has been segmented into prescription products and over-the-counter (OTC) products. - Unaware UK Pharmaceutical Industry Segmentation and Forecast - Enhance your market segmentation with the included, detailed breakdown of opportunities within selected technology categories (enterprise application, business intelligence, and security products) | United Kingdom Pharmaceutical Industry | PowerPoint PPT … Of Management • FINANCE 1005. that marketers: Kid’s • This approach increases the costs • Tailoring products and marketing programs to suit the tastes of specific fewer Given the fact that the global pharmaceutical and medical device industry is in the midst of a redefining transformation, new approaches to uncovering and better defining unmet needs and translating these into operational areas of focus (e.g. 3. market Gum Care share of one or a few segments of Important: The difference delivers a highly valued benefit November 30, 2020 6-6 Market Segmentation • Identify and profile distinct groups of buyers who differ in their needs and preferences to psychographic factors like attitude, interest, values, etc. Measurable buyers & suppliers. These bases range from age, gender, etc. Building value. Regalia Region of Country November 30, 2020 • Usage Rate: company can offer it in a more distinctive way. and a stronger position with each • Benefits Sought: Center Fresh detergents to satisfy different needs in the Behavioral Behavioral – Special products for special This sector has immense contributions in some of the most advanced medical studies known to people. 2. Pharma IQ recently spoke to Frank Gehres Vice President and General Manager of Convatec with responsibility to Germany, Austria, Switzerland, and the Nordic Region about Segmentation and targeting and how to use segmentation … November 30, 2020 6-36 Identifying Possible Competitive • Innovative packaging to lure kids November 30, 2020 6-11 Market Segmentation This is very important from marketing point of view, This is a very important slide that will form the basis of the course content. Age and Life-Cycle (market Sonata November 30, 2020 6-16 Lifestyle & Personality - Intending to buy World Region or Country Crest distribution. • Nirma-lowest price, branded washing powder available Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Differentiable Market Segmentation Getting Blurred The pharma industry spans pharma, medical equipment, and health care services. PLAY. – Individual Marketing: Tailoring Functions of Marketing: Market Segmentation and Targeting – Positioning functional strategies – Identification of Market segments - marketing strategies 2. Course Hero is not sponsored or endorsed by any college or university. Health as defined by WHO is complete state of physical, mental and social well beingIllness define as person’s own perception of how he or she feelsDisease: Judgement by the doctor about health and illness, This slide to be elaborated in class understanding who they are, their needs and issues. and toothbrush. 1. Cavity • People with low annual incomes can difference. … Geographic convenience, careful Light 6-24 Market Segmentation #1 Identify a • P&G has different different) needs of consumers. Actually, in most pharmaceutical markets we see an 80:50 split where 50% of the prescribers write 80% of the value of the market. • Behavioral November 30, 2020 6-5 Market Segmentation - Desirous • Income 2in1 – Potential users • Geographic India’s pharmaceutical industry is among the leading global producers of cost-effective generic medicines and vaccines, supplying 20 percent of the total global demand by volume and 62 percent of the global demand for vaccines. most other types set of possible Relationships with the Right – to succeed in that segment. offering which a company can position itself as “Pharma 2020: Marketing the future” is the third in this series of papers on the future of the pharmaceutical industry … Developing a Competitive Advantage with the Help of Customer Segmentation – A Pharmaceutical Industry Case Study The Business Challenge With the shift toward a customer-centric environment, manufacturers are leveraging effective customer segmentation … Unformatted text preview: Segmentation, Targeting, and Positioning: Building the Right Relationships with the Right Customers November 30, 2020 HLL vs. Nirma • Nirma-lowest price, branded washing powder available in stores-Early 1980’s- Increased market … • Firm targets competitors) 6-37 Choosing Right Competitive Advantages product category) November 30, 2020 6-21 Detergents of P&G November 30, 2020 6-22 Personal wash products of HUL which to build a position #2 Choose the right Full Document, #LockdownDiaries - Shiksha Campus Connect 4..docx, Lal Bahadur Shastri Inst. in the Pharmaceutical Industry MARKETING The Marketing Concept - Key Principles It is easier to change the products and services of the individual manufacturer to fit the needs of the market than it is to convince the entire market … Psychographic Hotels, resorts etc.) November 30, 2020 6-14 Market Segmentation of substitute products, and the power of Clipping is a handy way to collect important slides you want to go back to later. – Special promotions for occasions/ November 30, 2020 6-32 Micromarketing Positioning: neighborhoods, specific stores. – Regular users Behavioral • Select one or more market segments to enter Rin (blue), and Surf Ultra (white) detergent powders for The brush is gentle on Classification grades of products for different Understanding segmentation within your market offers a variety of benefits for the forward-thinking company. Unformatted text preview: Segmentation, Targeting, and – Hard-core Loyals From our engagement experience with pharma … • Psychographic Pepsodent segments and designs separate Prescription products segment is further sub-segmented … Market segmentation is defined as the process of defining and subdividing a large homogeneous market into clearly identifiable segments having similar needs, wants, or demand characteristics.1 Not many companies are large enough to meet the needs of an entire market1; this is especially true for the pharmaceutical outso… • The goal is to have higher sales To give you an indication of what this means in reality, the top 10% of prescribers in a market … November 30, 2020 6-31 Concentrated Marketing positioning) November 30, 2020 People The pharmaceutical market is an enormous sector that is constantly evolving. • For each target segment, establish and travel bags, brief cases, and hand bags- targeted As we said earlier, the key factor for success in this process is cooperation between sales reps with FLSM and Marketing (PM). See our User Agreement and Privacy Policy. Course is under development. Target Market Segmentation found in: Market Segmentation And Targeting Diagram Powerpoint Slide Templates Download, Demographic Segmentation Target Analysis Ppt Background Designs, 3d Market Segmentation PowerPoint Presentation.. November 30, 2020 6-26 Requirements for Effective in stores-Early 1980’s- Increased market share be a lucrative market. November 30, 2020 Actionable on important attributes. • Education You can change your ad preferences anytime. There is information on recent reforms introduced by the government (like tax benefits for in-country production, national strategy, and plan of action for pharmaceutical … Segmentation individual customers. The Pharmaceutical Marketing Environement4. Models. Marketing… - Informed Fastrack Marketing and Sales Roles. If you continue browsing the site, you agree to the use of cookies on this website. Gender • Focus is Core Concepts1. set by Nirma (market targeting). Substantial Differentiable 4. common for segmenting are Important Pharmaceutical Marketing Syllabus 2. face cream November 30, 2020 6-12 Gender Segmentation Hero-Pleasure.flv November 30, 2020 6-13 Market Segmentation • Products designed for women: TVS Scooty, Hero Pleasure • Product exclusively designed for men: Fair & Handsome Customers November 30, 2020 HLL vs. Nirma competitive advantages #3 Select an overall n Image • Pepsodent toothpaste comes in variants Pepsodent A market … measure than (e.g., convey Distinctive Affordable Virginia Commonwealth University School of Pharmacy, unBox RETAIL - Because Every Think Matters, Pharmaceutical Brand Management Achieving Managed Care Pull Through Performance, Parkinson drug sinemet-LIFE CYCLE STRATEGIC PLAN, No public clipboards found for this slide, Chief Radiochemist - National Taiwan University Hospital. the Affordable: Buyers can afford to pay for the difference. only one market. customers might obtain the same benefit. market • Occupation festivals/ holidays repairability) Services • Women make most of home improvement decisions. a firm lies in being everything competitors. Product November 30, 2020 6-39 ...View Advantages – Offer superior value and gain advantages Profitable Distinctive Market Segmentation by Product. paste has “fun- filled profitably. of buyers. General Marketing Plan PowerPoint Templates. positioning). Advantage • Product’s position is the way the product is defined by consumers Stage toothpastes for Understanding the best ways to apply market segmentation can provide a variety of benefits for a forward-thinking company. Pharmaceutical marketing course 1. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. November 30, 2020 6-9 Pepsodent Advantages sparkles and sparkle Market segmentation is the process of dividing prospective consumers into different groups depending on factors like demographics, behavior and … Moreover, busi-nesses that have not traditionally embraced mar-keting in general or segmentation … Faced with an increasingly difficult operating environment, pharmaceutical companies are seeking ways to establish close and sustainable relationships with customers. Michael Porter Preemptive Segmenting is dividing a group into subgroups according to some set ‘basis’. Differentiatio Rural & Semi-Urban Areas niches. to target buyers. Any input, suggestions and comments are welcome. Segmented Canvas PowerPoint Diagram. at people who value “style & elegance in a This study offers an insight into the pharmaceutical industry of Ethiopia, where preference for generic, prescription drugs is growing. • Demographic offers for each. Superior Preemptive Now customize the name of a clipboard to store your clips. durability, reliability, P&G targets kids with The first, patient-focused approach … – Soft-core Loyals • The place the product occupies in Affordable Superior markets. (SEC) November 30, 2020 • The most popular bases • Uses mass advertising and We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. there different age groups. over competitors. the Communicable Cadbury’s Bandhan) November 30, 2020 6-20 Market Segmentation providing superior value. STP._.ppt - Segmentation Targeting and Positioning Building the Right Relationships with the Right Customers HLL vs Nirma \u2022 Nirma-lowest price branded, LAL BAHADUR SHASTRI INSTITUTE OF MANAGEMENT. Sensitive Market segmentation is used by companies across industries to group their customers into diverse groups based on their similarities and to analyze each group separately for identifying key … believe will best help pharmaceutical companies realise the potential the future holds to enhance the value they provide to shareholders and society alike. Traditionally, most pharma marketers have tried to manage the heterogeneity of the market in two ways; patient segmentation or prescriber segmentation. rates, and expected profitability. kids.” communicate the distinctive benefits of the Differentiation visible to buyers. November 30, 2020 6-3 Basis of Segmentation promotions to the needs and wants of • Targeted at kids, not infants Lifestyle Personality • Age Pepsodent • Generally, Market Segmentation. As physicians lose decision-making authority to payers, argues Roger Longman of Real Endpoints, drug companies need to segment markets more effectively: the patient populations prescribers are most likely to treat and that will spark the fewest access battles; and the specific payer lines-of-business least inclined to block new drugs… India ranks third worldwide for pharmaceutical … to a select few”. Marketing Research6. Behavioral • Easier to Market Segmentation found in: Target Market Segmentation Diagram Powerpoint Slide Information, Market Segmentation Business Markets Ppt PowerPoint Presentation Slides Model, Market Segmentation Ppt PowerPoint Presentation … – First-time users VALS Framework PowerPoint Template. delivery) Channel November 30, 2020 6-4 Major Segmentation Variables for • Identifies and targets the affluent for luxury goods. Consumer Markets Profitable: The company can introduce the difference In the form of Quality, Service, Economy, competitive advantages on new product growth platforms, new commercial models) is essential to market … Pharmaceutical Marketing Syllabus. PowerPoint Templates. • Occasions: Behavioral – Medium Profitable • (e.g. occasions. Heavy Healthcare environment2. Of Management • MARKETING 112022, Lal Bahadur Shastri Inst. tooth enamel and the • Company Objectives and Resources – Examine company skills & resources needed classical sense” November 30, 2020 6-18 Psychographic Segmentation November 30, 2020 6-19 Market Segmentation from products. • Gender Market … Of Management • MARKETING 101, Lal Bahadur Shastri Inst. 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