marketing (1)

[Virtual Presenter] This is the start of our presentation, where we will delve into the concepts of needs, wants, and demands. We will begin now..

[Audio] The distinction between "goods" and "products" lies in their scope. While "goods" refer to tangible items with physical properties, "products" encompass a broader range of offerings, including intangible services, software, and intellectual creations..

[Audio] Buying health care allows an individual to invest in their health capital, which decreases over time. This capital cannot be shared or traded with others. The healthcare market cannot achieve optimal efficiency on its own..

[Audio] Resources are allocated in an economic state where it is impossible to make one individual better off without making another individual worse off. This is achieved through two assumptions: first, any competitive equilibrium leads to a Pareto-efficient allocation of resources; second, any Pareto-efficient allocation can be achieved through competition given an appropriate initial allocation of resources..

[Audio] Health care is a mixed and collective good because it is non-rivalrous, non-excludable, and congestive. Furthermore, health care can generate externalities. As a public good, the consequences of health care include universal access and continuity of care..

[Audio] Individuals receive equal access to specific health insurances and free risk and need services at the point-of-use through mechanisms that ensure equity in healthcare..

[Audio] Uncertainty surrounds the occurrence or gravity of a disease, making it difficult to predict the demand and results. The goods and services related to health are surrounded by uncertainty, which makes them unpredictable and costly to produce..

[Audio] The relationship between healthcare providers and patients is influenced by the imbalance of information regarding the amount of care. Moreover, this relationship can be affected by the personal motivations of physicians. Furthermore, healthcare services are viewed as trust-based or experiential goods, which shape expected behavior..

[Audio] Offers are limited by licensing restrictions and the high cost of the installation, as well as by the number of practitioners related to the cost of medical education and the technicality of the study..

[Audio] Medical goods and services do not operate according to the principles of demand and supply because the demand for healthcare is equal to its supply, which is funded. The state needs to intervene in this sector as regulation plays a crucial role in reducing the inherent uncertainty. Furthermore, growing demand and limited resources necessitate prioritization to ensure market access..

[Audio] Marketing refers to the activities undertaken by a company to promote the buying or selling of a product or service. On the other hand, market access refers to the ability to access the entire market in a given country, sell, and generate revenue without encountering significant obstacles. This definition is according to the World Trade Organization..

[Audio] Pharmaceutical market access activities may face various obstacles, including obtaining market authorization, setting appropriate price and reimbursement levels, ensuring adequate logistics, and monitoring drug surveillance..

[Audio] The slide presents various components related to pricing and reimbursement, including market access, health formularies, technology assessment, and more..

[Audio] Pharmaceutical consumers versus usual consumers adhere to Kotler's marketing concept, differing in their needs, wants, and demands. Pharmaceutical consumers exhibit distinct characteristics compared to usual consumers, being influenced by multiple stakeholders, with opinion leaders playing a pivotal role. Additionally, they are highly sensitive to prices. Conversely, usual consumers lack accountability, and their perceptions significantly impact decision-making processes. The pharmaceutical industry faces unique challenges due to its evidence-based nature, where products are often viewed as innocent until proven guilty..

[Audio] Health is a state of physical, mental and social wellbeing in which disease and infirmity are absent..

[Audio] I cannot provide a rewritten text as there is no original text provided. However, based on the slides given, here is a possible answer to the question:.

[Audio] The pyramid of influences in prescribing treatments consists of four levels: key opinion leaders, specialists, pharmacists, and general practitioners..

[Audio] The pharmaceutical consumer versus the usual consumer follows Kotler's marketing principles..

[Audio] We analyze the market to identify its various segments. We then develop strategies tailored to each segment, taking into account their unique needs and characteristics. Our planning process involves evaluating our marketing programs and activities, as well as controlling them to ensure they align with our goals..

[Audio] I don't have enough information to provide a direct answer. However, based on the provided slides, I can attempt to answer the question. Please note that this response is based on my understanding of the slides and might not be accurate. If you could provide more context or clarify what you mean by "wants," I would be happy to help..

[Audio] Marketing has always existed. The first marketing transaction might be said to have set a poor precedent when Adam and Eve traded the Garden of Eden for a bite of an apple..

[Audio] Demands are human wants backed by ability and willingness to buy. The person wants only those goods which provide them maximum satisfaction. Marketers can influence demand by offering products at different prices and qualities. The key difference between wants and demands is desire. A customer may desire something, but they may not be able to fulfill their desire..

[Audio] People have basic requirements as human beings. These requirements include physical needs such as food, clothing, warmth, and safety. They also have social needs like belonging and affection, and individual needs like knowledge and self-expression. Furthermore, people require healthcare, food, water, and shelter. Interestingly, people always buy..

[Audio] Wants are not permanent and they regularly change as time passes, people and locations change, wants change accordingly. They are not essential for humans to survive, but they are associated with needs. Moreover, wants can be influenced by customers' society and surroundings. Furthermore, wants are the opposite of needs. For example, a person in the United States needs food but wants a bag of Doritos chips and a soda, while a person in Mexico needs food but may want a burrito from a specific restaurant..

[Audio] Demands are human wants backed by the ability and willingness to buy. The individual desires only those goods that provide them with maximum satisfaction. Marketers can manipulate demand by offering products at varying prices and qualities. The primary distinction between wants and demand lies in desire. A consumer may yearn for something, yet they may not be capable of fulfilling their longing..

[Audio] Marketing is traditionally examined through four primary groups of variables to achieve its marketing and strategic goals. These four groups are Product, Price, Place, and Promotion..

[Audio] Product is the most basic of the marketing mix variables. It refers to a tangible good provided or available for sale, such as a chicken sandwich or Apple's latest iPhone. A company must continually assess customer needs to ensure it provides the right product or product features..

[Audio] The primary product in the pharmaceutical industry is the medication. From this perspective, it should be straightforward to discover and manufacture a product that improves health outcomes and quality of life..

[Audio] Understanding customers' needs and wants as they relate to the price variable is essential to survival. A great product priced too high will struggle, while a product priced too low might be devalued in the marketplace and hamper the company's profit and/or growth potential. Therefore, it is crucial for businesses to identify the optimal price point that satisfies both customer and corporate requirements..

[Audio] A product's or service's price is not just a number; it defines other aspects of the product, service, or company. A premium or high price relative to a competitor's conveys the image of a premium product or service, especially in terms of quality. A much lower price compared to a competitor's conveys the opposite image and message. In pharmaceuticals, this dynamic plays a role in the consumer perception that generic medications are not as good as brand-name medications, even though scientific evidence suggests otherwise with certain medications..

[Audio] The pharmaceutical industry presents a complex landscape when it comes to pricing because manufacturers set prices for various suppliers, including wholesalers, retail pharmacies, and mail-order pharmacies. Furthermore, there are different prices for the end user or patient, such as flat copayments, coinsurance, or non-insurance-based cash prices. The multiple forms of pricing in the pharmaceutical industry depend on who pays, resulting in numerous possibilities..

[Audio] The concept of place in marketing refers to any activity designed to make a product available. This can be achieved through a supply chain, which is a crucial aspect of any manufacturing industry. The supply chain ensures that products are manufactured, packaged, and delivered to the point of sale. Without a successful supply chain, even the best product may fail to reach its intended audience, putting the company's potential success at risk. In the pharmaceutical industry, the traditional supply chain involves a pharmaceutical manufacturer producing, selling, and shipping products to wholesalers, who then store and distribute them to community and hospital pharmacies..

[Audio] Promotion is the final P in the marketing mix, most commonly recognized by the consumer due to its visual nature, such as in television advertising. However, it is not limited to these mediums alone. As a company's communication arm, promotion transmits the other Ps - product, price, and place - to achieve the best possible consumer attitudes and purchase interest. With the advent of digital and mobile technology, promotion has taken on many new forms, incorporating both traditional and modern media. Companies utilize various outlets to promote their products and services, with common methods including advertising, sales promotions, personal selling, direct marketing, and public relations..

[Audio] Advertising, sales promotions, personal selling, direct marketing, and public relations are all forms of promotion. Advertising uses mass media channels, direct-to-consumer marketing, and targeted campaigns like Viva Viagra. Sales promotions occur at a specific moment, such as during a sale or event. Personal selling involves one-on-one interactions between a salesperson and customer. Direct marketing focuses on specific demographics and targets customers with tailored messages. Public relations involve communicating with the public and stakeholders through press and media campaigns..

[Audio] The availability of the drug product when it is needed is a crucial responsibility of marketing management, closely tied to the place function. In emergency situations, like the administration of adrenaline, the product must be readily available when the patient needs it, not hours later. Marketing also plays a role in determining the optimal timing for introducing a new pharmaceutical product. While immediate introduction may be necessary for life-threatening conditions, other products may require different timing considerations. For instance, the introduction of oral contraceptives required a specific social environment, while a product treating frostbite wouldn't be suitable for release during the summer months..

[Audio] The purpose of any business is to get and keep customers. To achieve this purpose, one must produce and deliver desired goods and services at a cost consistent with the customer's evaluation, and do so in a successfully competitive way. To survive, one must produce a profit regularly. Doing these things requires clarity of purpose, clever planning, and clear communications. A system of rewards for success and sanctions, along with methods of correction for failure, is essential..

[Audio] Marketing has various social functions. These functions include creating awareness about products and services, influencing attitudes and behaviors, providing entertainment, and promoting social change..

[Audio] The role of marketing management is crucial in achieving the four Ps - product, price, place, and promotion - and ensuring the best timing. To prepare the right product, collaboration between production, research and development, and other departments is necessary. Similarly, setting a price requires input from the finance division. Marketing plays a key role in delivering all the "right" things. Effective coordination of all firm activities demands a specific mindset from top management, requiring clear-cut company goals and a coordinated focus on the pharmaceutical market. Clear goals provide direction to all departments..

[Audio] The pharmaceutical industry operates within a complex general environment that influences its operations. Various factors such as health outcomes, economics, and policy are included in this environment. It is essential to understand these factors and how they impact our work as we move forward..

[Audio] The pharmaceutical marketing environment is characterised by various factors that influence the way pharmaceutical companies market their products. These factors include regulatory requirements, competition from other pharmaceutical companies, and the need to educate healthcare professionals about new treatments..

[Audio] Nothing happens in the pharmaceutical industry unless an individual takes some kind of action. Symptoms are crucial cues to action, although not essential ones. Conversely, symptoms are frequently disregarded or intentionally left untreated. The motivations behind this behavior are as intricate as any other aspect of human behavior. The identities and behaviors of patients are the focal point of this section. These individuals are who they are because of their characteristics..

[Audio] Some very pedestrian population characteristics can and do have an important impact on the research, development, and marketing success of pharmaceutical products. These include age, gender, race, marital status, education, economic status, and ethnic/religious background..

[Audio] Pharmaceutical customers can be segmented based on various factors such as demographics, health status, treatment needs, and purchasing behavior. These segments can be further classified into different categories such as chronic patients, acute patients, and healthy individuals. Each segment has its unique characteristics, needs, and behaviors that require tailored marketing strategies to effectively communicate with them..

[Audio] People have different needs that must be fulfilled in order to achieve happiness and well-being. According to Maslow's model, there are five levels of needs: physiologic, safety, belongingness and love, esteem, and self-actualization. Physiologic needs include basic necessities such as food, water, and shelter, while safety needs involve economic and social security. Belongingness and love needs refer to the importance of relationships and a sense of belonging in society. Esteem needs involve self-esteem and the esteem of others, and self-actualization needs involve achieving one's full potential..

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