PHAR 746 Pharmacy Management

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PHAR 746Pharmacy Management

• Stacy Ramirez, Pharm.D.
• Clinical Assistant Professor
• Department of Pharmacy Practice

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Marketing

• Telemarketers
• Used car salespeople
• Cosmetic counter ladies
• Insurance salespeople
• Recruiters

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Marketing

• Definition
• Marketing is the process of planning and
  executing the conception, pricing, promotion, and
  distribution of ideas, goods, and services to
  create exchanges that satisfy individual and
  organizations objectives.

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Marketing

• Process
• Ideas
• Goods and Services
• Exchange
• Broad applications

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Universal Functions

• Buying
• Selling
• Transporting
• Storing
• Standardizing grading
• Financing
• Risk Taking
• Information gathering

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Marketing Mix

• Product
• Includes tangible and intangible good
• Price
• Actual vs. perceived
• Place
• Site

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Marketing Mix

• Promotion
• Sales, PR, DTC, Personal selling
• Positioning
• Distinct place

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Branding

• Instant Recognition
• Broad appeal
• Simple
• BrandNoun
• To Fed-ex

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SWOT

• Strengths
• Weaknesses
• Opportunities
• Threats

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Strengths

• Current or future assets
• Abilities
• Unique characteristics
• Meets a need

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Weaknesses

• Lack of abilities
• Physical plant
• Same as everyone else
• Undefined need

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Opportunities

• Matched with Strengths
• Ways to capitalize on strengths
• Should take general concepts (strengths) and
  reduce them to actual ideas

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Threats

• Matched with weaknesses
• Ways to minimize or fix weaknesses
• Should take general concepts (weaknesses) and
  list ideas to combating

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Healthcare Marketing

• Goods and services
• Perceptions
• Consumer mix
• Regulatory factors
• ROI
• Physical plant