Pharmacy Practice Management

Consist of consumers who respond in a similar way to a given set of market stimuli

Display a mature, responsible attitude toward their disease. They do not allow it to control their lives. They are constantly trying to improve their condition and are willing to consider new information and new therapies

Do not fully accept their disease, but attempt to manage it as best they can, although they are often not successful in doing so

• Display contradictory personality traits but are more positive
• Very accepting of themselves and their condition, and display a relative disinterest in active disease management

Have virtually given up. They have been psychologically defeated by diabetes and are resigned to what they believe is their unalterable and inevitable fate.

Monitoring the financial resources of the organization

Managing the financial resources for maximum organizational benefit

Most precious asset of most organizations

Porcesses needed to convert inputs to outputs

Identify needs and wants and develop outputs to satisfy them

Establishes overall organizational goals and gives direction to middle management

Who develop departmental goals and operational objectives and strategies, sometimes with input from employees

Whose participation can improve plan quality and implementation, and from clients

Whose perspective can provide unique insight and a useful "reality check"

• The over-arching purpose of the organization
• Answers the question, "what business are we in?"

• Long-range outcomes needed to fulfill the organization's mission
• Relatively broad in scope
• Usually not stated in specific, measurable terms or defined timelines

• Short-range outcomes, outputs or results to be achieved
• Specific, measurable and usually stated in terms of a specified timeline for achieving

• Existing conditions, both internal and external
• Current and likely future trends, including those in the macroenvironment

• Existing and potential clients/customers
• Existing and potential competitors

• Assess your organization's strengths, and weaknesses and those of your competitors
• Determine the opportunities and threats you face

• All persons sharing a need or want who may be willing and able to engage in exchange to satisfy that need or want
• The separation or "gap" that exists between parties interested in an exchange

• Mass merchandising
• Advantage: cheap, assembly line approach
• Disadvantage - trying to please everyone, run the risk of pleasing no one. Also risky from a standpoint of developing a strong, clear image among consumers

• This is a middle of the road strategy that attempts to focus marketing efforts of the firm on several key segments concurrently
• Advantage: greater market coverage
• Disadvantage: more expensive than undifferentiated approach, and you still risk not pleasing any single segment enough to get their business and their loyalty

• A want that is backed by a willingness to exchange value
• Demand is essential for voluntary exchange to take place

• Anything that can be exchanged to satisfy a need or want
• May be tangible or intangible
• A product is merely a vehicle for delivering benefits

• A human activity directed at satisfying needs and wants through exchange processes
• The process by which the gaps between parties interested in an exchange are closed
• The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives

• The process by which values are traded between parties
• The act of obtaining a desire object from someone by offering something in return
• Central concept in marketing

Familiar form of exchange in business where tangible values is exchanged for a product or service

Involves the exchange of intangible values

Usually low cost and frequently purchased items

• Increased complexity and cost
• Consumer knows attributes (s)he wants, but lacks familiarity with alternative sources

• High complexity and cost
• Consumer may not even know what attributes to look for.

First thinks of buying product

Recommendation or opinion has influence with ultimate decider

Makes ultimate decision

Negotiates terms/selects provider

Receives product and the benefits from its use

• Firm identifies one "first best" market segment, and devotes entire marketing effor toward it
• Advantages: allows you to focus on building strong customer loyalty and satisfaction. Results in awell-defined image and a strong position vis-a-vis competitors
• Disadvantages: all your eggs are in one basket. What if the segment disappears, or is not as attractive as you thought?

• Benefits are not obvious or readily apparent
• Buyer cannot know results prior to purchase

From the provider

• Somewhat different for each client
• Cannot be mass produced, so they must be customized to the unique needs of each client

Cannot be stored, so downtime is not recoverable