MARKETTING & SALES MANAGEMENT

Job description of Product executive –

 To prepare product strategies to explore business opportunities.

 Product launching activities, conferences, seminars and workshops for
marketing and promotional campaign to achieve business result.
 To analyze the market for launching new products.
 To design pharmaceuticals products.
 To prepare documents for registration of products.
 To develop product literature containing details information about products
for promoting the product to doctors.
 To develop printed Promotional Materials and others promotional
materials for promoting a product.
 To provide technical information on different drugs.
 To contribute in the training program of Medical Representative.
 To make field visit in some situation and requirements.
 To make communication with field forces regularly.

Market: A Market consists of group of people having unsatisfied want and need,
who are willing to exchange and have the ability to buy.

Effective Demand: The combination of desire to buy and ability to buy is

referred to as Effective Demand.

Dissonance: Confusion with buying some things.

Mass Marketing: When the demands of all people are same is called Mass
Marketing.

Niche Marketing: Very smaller portion of the marketing or when a company

segments the market in a small and small portion is called Niche Marketing.

Product Positioning: Product Positioning has come to mean the process by

which marketers try to create an image or identity in the minds of their target
market for its product, brand or organization. e.g: When a doctor prescribed for
the respiratory problem at first the name come “Amoxicillin”. It is called Product
Positioning.
Brand: Brand is a name, sign, symbol or design, in which a company uses to
distinguish its product from others.

Brand Loyalty: Consumers frequently buy only their favorite brands of certain
products. They will not switch brands even if an alternative is offered at a lower
price.

Brand Equity: The brand can add significant value when it is well recognized
and has positive associations in the mind of the consumer. This concept is
referred to as Brand Equity.

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Markup: In cost oriented pricing, a percentage added to the total cost of the
product to cover marketing expenses and allows a profit.

Product Life Cycle: The Product Life Cycle is a model which helps us to
understand the development and decline of products. The stages of the Product
Life Cycle may be characterized as follows:
 Introduction Phase
 Growth Phase
 Maturity Phase
 Decline Phase

Literature Size: 22/44, 11/22, 10/6.5, 10.5/8.5, 12.5/10.45.

Tone down: Any symbol or words or letters are ambushed in the literature are
called Tone down.

Gross: The term gross working capital also referred to as working capital means
the total current assets.

Net: The difference between current assets and current liabilities.

Launching a new product: Before launching a new product we should consider

the followings:
 Clinical trails
 Market analysis
 Competitor analysis
 Regulatory affair
 Forecasting budget
 Trademark
 Pricing
 Promotion
 Make Advisory board
 Contingency planning
 Field force training
 Post launches market research.

Marketing: Marketing involves identifying particular needs and wants of

customers, and then going about satisfying those customers better than
competitors.
Or
Marketing is the management process of anticipating, identifying and satisfying
customer needs profitably.
Or
Marketing is a part of business concerned with the advertising, selling &
distribution of goals or service.
Marketing

Selling  Promotion

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Mass Marketing: Mass Marketing refers to treatment of the market as a
homogenous group and offering the same marketing mix to all consumers.

Selling: Selling is basically identified & creating the customer needs & satisfy
the customer with price.

Marketing criteria –
 General
a. Technical knowledge (Pharmacology & Physiology)
b. Marketing concepts
c. Regulatory (Local Drug Administration)
d. Distribution channel
 Finding out – Market & Marketing research
 Planning and Monitoring
 Communication skills – Try to impress all person

Products: Product is any things which satisfied or meets the customer demand.
Tangible – Book / pen / Car
Intangible – Service / Education

FAB Analysis –
Features: Features is the summery of the products constituents to satisfy the
need & wants of the customers.
 What is have in the product
 Paracetamol raw material in micronize form.
Advantage:
 Benefit is related to the use
 Quick onset of action / Maximum bioavailability
Benefit: Benefit is nothing but how the customers get benefited by the products.
 Result of the feature & benefit
 Patient relief from fever

Need: Need is the feeling of deprivation of basic requirement like (food, cloth,
shelter).

Want: When needs Higher then it is called want. Or want is desire to particular
need.

Demand: When wants are backed up by purchasing power then it is called

demand.

Or These are wants for specific products, which are backed by willingness to buy
and ability to buy.

Cost: Fixed cost + Variable Cost

Price: (Cost + Profit) Product price is the sum of the total manufacturing cost &
additional profit.

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Utility: Utility is the satisfaction, value, of usefulness a user receives from a
goods or services.

Value: (Price + Customer satisfaction) product choice set done by customer for
his / her satisfaction or ability is called Value of that product for that individual
customer.
It is nothing but the perception of
- Quality
- Stability (Durability)
- Safety of the products
- Cost etc
-
Exchange: When group of people are moving to agreement is called exchange.

Transition: Basic unit of exchange. It occurs after successful exchange is

complete.

Forecasting: Is a technique which marketer tries to anticipate what will happen

in their market tomorrow basted on what happened yesterday.

Strategy: How the objective can be done. It basically critical style to analysis the
competitor strategy and to make a way which is different from the competitor and
also which beat the competitor.

Marketing strategy is – SWOT analysis / Marketing share / Products

positioning

Action Plan – Specific Guide line (How to deal the products)

Commonly use forecasting technique use pharmaceutical market in

Bangladesh –
 Simple trend analysis
 Market share analysis
 Sales people estimation
 Consumer surveys and panel discussion

For new Product Expert opinion must need.

Example –
 Number of sufferer – 100
 Seeking treatment – 90
 Access treatment – 50
 Prescribe – 50
 Prescribe with category – 25 Penicillin
 Prescribe with amoxicillin – 15
 Prescribe with brand – 5

Marketer does the following thing –

 Marketer make the decision today

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  Will implement tomorrow
 They want to know the portable size of various market segment in the
future
 They want to know the post demographic factors (market demand) or the
future composition of target
 They want to know the expected sales in various market

Product positioning: The better indication from which a product can be easily
separated, these indications is also help to highlight the product

“Product management is part of marketing management”

Component of marketing plans –

1. Executive summery – Summery of the total plan which will help the
authority to check further in details or not.
2. Market size and competition analysis – what’s the total market size? /
IMS health can help us
3. Objectives – Must have the objective, two type of objective are use 1.
Qualitative objective 2. Quantitative objective e.g. to be a brand leader, to
be capture the 50% market within 10 years
4. Strategy – How the objective can be done.
5. Product positioning – find out the special feature of the product &
highlighting it.
6. SWOT analysis – Strength Weakness, Opportunity, Threats. SW –
Internal / OT – External
7. Marketing mix – Products / Promotion / Place (available in the market) /
Price (should be competitive)
8. Forecasting – It must contains at least one year plan for sales in future.
Revenues – Actual quantity of the sells. In case of new product need one
(1) year & in case of existing products need three (3) year forecasting
plan.
9. Promotional Plan & Budget – Promotional expenses like Physician
sample, Gift, Pad, Pen, & many others.
10. Profit & Loss Accounts –

Revenue 10 Cr taka
Costing (Cost of goods) 4.8 Cr taka
Gross margin 5.2 Cr taka

Expenses
- Promotional 1.5 Cr taka
- Sales 0.3 Cr taka
- Financial 0.5 Cr taka
Total expenses 2.3 Cr taka

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 11. Monitoring & performance evaluating –
- Weekly monitoring
- Fallow up
- Any time field checking
- To rewarding MPO’s
“Common sense is not common in common people”

Advantage of marketing related job –

 It is highly payable job
 Every business organization must required a marketing department
 Marketing is target oriented job & challenging job
 Every information are available in marketing department

“Marketing department links with QC and QA production, inventory control

& other departments”

Product Mix: To prepare the products on the basis of consumer’s needs and
wants.

Marketing Mix:
 Products.
 Price.
 Place.
 Promotion.

Promotional Mix: The combination of

 Advertisement.
 Personal selling.
 Sales promotion and
 Publicity.
Is called Promotional Mix.
 Personal selling
Two or more people interacting with face to face contact to sell. Most
important in pharmaceutical market
Major steps of effective personal selling –
Prospect – To identify the potential customer
AIDAS – Attention gaining / Interest holding / Desired / Action / Satisfation
 Sales promotion
For limited brands / promotional sales but it should be limited time
 Publicity
Non-paid form (Rear in pharmaceutical sectors)
 Advertisement
Paid form with name & address

PEST analysis - Political / Economical / Social / Technical

EIS – Excellence in selling
FMCG – Fast Moving Customer Goods
SMD – Sales Management & Distribution Cost (around 35%)
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