Hossein Mirzaei

Marketing Marketing for for optical businesses optical businesses

www.optiran.ir

Msc optom

Learning objectivesLearning objectivesAnalyze and develop solutions to

problems in merchandising Sales promotion and store operation Assess and evaluate pricing strategies

economic problems and competition

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Eye Care Market FactsEye Care Market FactsIn every community eye care is a large

marketEye care providers are plentiful. Most of

them have excess capacity.Most patients prefer independent

practice eye doctors.Presbyopes represent the majority of

patients served by eye care providers.www.optiran.ir

Eye Care Market Facts:Eye Care Market Facts:Women purchase eyewear more

frequentlyEye care product technology is

rapidly evolvingIn most optometric practices, the

sale of eyeglasses produces the greatest share of revenue

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Eye Care Market Facts:Eye Care Market Facts:Contact lens patients generate 25-30%

of gross revenue in the average practiceThe Internet is transforming retailing

and business-to-business transactionsEye care is a somewhat seasonal

business…….

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The size of your organization isnot important

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The size of your bank account is

Increasing Practice Net Increasing Practice Net Income:Income:See more patients per day"Sell" more to each patient.Raise fees (or reduce discounts)Avoid costly errors.Reduce expenses

© South-Western Publishing

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WHAT IS MARKETING? WHAT IS MARKETING?

Marketing is:Marketing is:The process of creating products and

servicesThe process of promotion those

products and services,pricing them and distributing them in a specific marketplace

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The Ps of MarketingThe Ps of MarketingPlanning StrategyProduct or servicePrice cost, profitPromotion creating desire for productPlace locationPositioning in marketplace

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PLANNIGPLANNIG

The Strategy of Marketing

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We must answer important questions

PositioningPositioningThe first marketing Question

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QualitypriceFast Service

What market position will I assume?Or who am I?

Marketing Identification Marketing Identification

The second Marketing question :The second Marketing question :

Who is my customer?

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Market segmentation:grouping people with the same needs or wants

Key segmentation questions:Key segmentation questions:

Geographic - where do they live?Demographic –what is their

age ,sex,family size ,income, educationPsychographic-what is their social

class,lifestyle,personalityBehavioral –what usage rate do they

employ?are they loyal?

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Third question:Third question:What is my mission or purpose?

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State in one or two sentences

This should become the foundation of your business

An example of a mission An example of a mission statement would be: statement would be:

We aim to specifically serve our patients with only the highest quality frames, lenses and contact lenses

© South-Western Publishing

Product (service)Product (service)

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The single most important marketing activity is selecting right product for your market

Product attributes:Product attributes:The physical elements :size color

weightThe value

elements:quality ,durability,reliabiltyStyle or Fashion

taste:modern,conservative

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Marketing success will depend on knowing all product attributes

Generic and specific needsGeneric and specific needs

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Understanding the difference

Modern marketing tactics suggests that we promote the specific attributes of products

The total product line that is offered for sale i.e.frames, lenses ,sunglasses,etc

The mix represents everything needed or desired by the customer

The product Mix:The product Mix:

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The product portfolio:The product portfolio:Group of closely-related products for

example the frame board

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The key to managing a product potflio is to work with it until it provides as much profit as possible

The product life cyle (George The product life cyle (George day)day)Introductory stage: new and excitingGrowth stage:popular items-most wantedMaturity stage: profitable days behind Decline stage:cost you money to keep

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IntroductionIntroductioncompeting against older, established

productsbusinesses need to identify those that are

dissatisfied with the current problemsproduct should be basic and not too

complicatedguarantee and warrantiesnot widely distributedprice usually highpromotion needs to inform the customer

GrowthGrowthif product successful, competitors will

enter the marketfeatures and options must be addedwider distributionadjustment in pricingpromotion must attract customers,

advantages of the product

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MaturityMaturitysales peak, profit begin to decline, customers

have the product and there are many companies in the market, competition becomes very intense

all products features, option, guarantees/warranties are similar (so customer service options could be added)

pricing become very competitiveincrease availability of the product becomes

widerpromotion – why their product is better

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DeclineDeclineproduct is no longer satisfying or they

discover new and better products, sales drop, little or no profit

try to identify other usesdistribution is reduceprice is usually reducedmore selective and less promotions

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Stages in a Life CycleStages in a Life Cycle

Introduction Growth Maturity Decline

SALES

PROFITS

Adding toAdding to your product portfolio your product portfolio

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Marketing reasonsTechnology reasons

PromotionPromotionPromoting—in house programsAdvertising—out of house adsSelling—the activity employed to gain

businessPublic relations—education and public

awareness activities

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PricingPricingWhat is your market position?Who is the target group?What is the marketing mix?What are the competetion prices?Do you need to make changes due to a

marketing condition?Any change due to economic condition?

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General pricing considerations:General pricing considerations:

Cost factorsCompetition factorsSupply / demand factors

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Product life cycle pricingProduct life cycle pricingIntroductory high priceGrowth stage cont,ed high priceMature stage reduce priceDecline cost or even lower

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placeplaceLocation is the key to success

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SWOP-an analysis of your SWOP-an analysis of your competition and yourselfcompetition and yourselfS stands for strengthW stands for weaknessO stands for opportunityP stands for problems

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Some usefull sites:Some usefull sites:www.mba-ce.comwww.reviewob.comwww.optometricmanagement.com

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