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ethicalMARKETINGOVERSEAS

JAYARAMDirectorINDUS LIFE SCIENCES PVT. LTD.

EXPORT OPPORTUNITIES to UPCOMING MARKET

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EPRG FRAMEWORK

Ethnocentric

- Home country

orientation

Polycentrism

- Host country

orientation

Regiocentrism

- A regional orientation

Geocentrism

- A world orientation

Progression to Global Marketing

DOMESTICMARKETING

EXPORT MARKETING

MULTINATIONAL MARKETING

GLOBALMARKETING

INTERNATIONAL MARKETING

In terms of broad objectives and goals of the company,

there are certain Similarities between domestic and Overseas business:

1.Generating revenue

2.Corporate image building

3.Customer satisfaction and building loyalty

4.Generation of employment opportunities.

DOMESTIC MARKETING vs OVERSEAS MARKETING

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ENVIRONMENT

PLAN & STRATEGY

COMPETITION

CURRENCY

BUSINESS RISKS

RESEARCH

HUMAN RESOURCES

ORGANISATIONAL VI-SION

PRODUCT DEVELOPMENTLEGAL ASPECTS

INVESTMENT

PRICING

DISTRIBUTION

PROMOTION

DOMESTIC MARKETING vs OVERSEAS MARKETING

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ENVIRONMENTThe economic, political, legal, socio-cul-tural, competitive and technology envi-ronments are known, hence one can take the Necessary precau-tions.

The environment is not fully known. Innumerable hidden factors which may emerge at any time to pose problems

PLAN & STRATEGYPlans and strategies can beWorked out for short terms andCarried forward to long term.

Only long term planning and strategy will work. Strategic inputs are required in multiples.

COMPETITIONThe maximum domestic competitive forces operate and one can understand their movement.

International competitive forces play a vital role and it is very difficult to under-stand their motive and movement.

DOMESTIC MARKETING vs OVERSEAS MARKETING

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•BETTER PROFITS

•PRODUCT LIFE CYLE EXTENDED

•CORPORATE IMAGE

•EASY TO LAUNCH MORE LINE EXTENSION

•EASY TO INTRODUCE NEW PRODUCTS

•EASY TO GO TO NEXT COUNTRY

•PRODUCT EXPERIENCE GOES UP

•BRAND-CUSTOMER RELATIONSHIP

•COUNTRY IMAGE

ADVANTAGES OF BRANDING A PRODUCT…

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DEPENDS ON MARKET

DEPENDS ON YOUR GLOBAL PARTNER

DEPENDS ON YOUR STRENGTH TO MARKET

DEPEND ON AVAILABILITY OF MARKETING MIX

DEPENDS ON YOUR COMPANY’S VISION

…Go for ETHICAL marketing your brands

ETHICAL MARKETING OVERSEAS

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1.Current and potential size of the market

2.Level of competition for a specific product or service

3.Economic growth of the county

4.Purchasing power of the people

5.Political & legal environments and their impact on business

6.Infrastructure like banking, insurance, port facilities etc.

7.Socio-cultural background of the country.

8.Availability of technical and non-technical work force.

CONSIDERATIONS OF VARIOUS ASPECTS BEFORE ENTERING A COUNTRY

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The marketing concept relies upon

Marketing researchto define market Segments, their size, and their needs.

Marketing Research

• Total Pharma market of the country & growth• Future market potential• Contribution of each Therapeutic segment & growth• Top ten companies & growth• Top ten brands and growth• Top 5 brands in each Therapeutic segment and

growth• New launches in last 3 years and success of

brands• Grab tender documents—what sells in that coun-

try?

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The long held Principles of Marketing are “Customer value", “Competitive advantage" & “Focus".

This means that organisations have to study the market, develop products or services that satisfy customer needs and wants, develop the "correct" marketing mix and satisfy its own objectives as well as giving customer satisfaction on a continuing basis.

MARKETING RESEARCH

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WHAT IS THIS MARKETING MIX?

Marketing mix is a term used to denote the various components of the marketing strategy.

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EXTENDED MARKETING MIX?

PEOPLE

PHILO-SOPHY

PROCESS

PHYSICALEVIDENCE

MARKETING MIX+

SERVICE MIX

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For a marketing plan to be successful,

the mix of the Eight “ps” must Reflect the wants and desires of the consumersin the target market.

Marketers depend on marketing research,both formal and informal toDetermine what consumers want and what they are willing to pay for it.

Marketers hope that this process will give them a competitive advantage.

The specification of these four + four variables creates a promotional mix or promotional plan.

A promotional mix specifies how much attention to pay to each of the eight subcategories, and how much money to budget for each.

SUCCESSFUL MARKETING PLAN

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IN MARKETING,

A PRODUCT IS ANYTHING THAT CAN BE OFFERED TO A MARKETTHAT MIGHT

SATISFY A WANT OR A NEED.

Marketing mix

What does the customer want from the product?What features does it have to meet these needs?How and where will the customer use it?What does it look like?What size(s), color(s), should it be?What is it to be called? How is it branded?How is it differentiated versus your competitors? 

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How to get the PRODUCT

or SERVICE

to the customer.

Marketing mix

Where do buyers look for your product or service? If they look in a store, what kind?How can you access the right distribution channels? Do you need to use a sales force? What do you competitors do, and how can you learn from that and/or differentiate? 

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Marketing mix

Promotion involves disseminating information

about a PRODUCT SERVICE

COMPANY.

Personal sellingSales representative

Non-personal selling Advertising

Trade showsDirect selling

Product placement

Where and when can you get across your marketing messages to your target market? Will you reach your audience by advertising in the press, or on TV, or radio, or on billboards?When is the best time to promote?How do your competitors do their promotions? How does that influence your choice of promotional activity? 

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A well chosen PRICE should view these factors:

Achieve the financial goals of the firm (eg.: profitability)

Fit the realities of the marketplace (will customers buy at that price?)

Support a product's Positioning and be consistent with the other variables in the marketing mix.

To support Marketing Expenses

Marketing mix

What is the value of the product or service to the buyer?Are there established price points for products or services in this area?Is the customer price sensitive? What discounts should be offered to trade customers?How will your price compare with your competitors?

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Any person coming into contact with customersCan have an impact on overall satisfaction.

Whether as part of a supporting service to a Product or involved in a total service, they are Very important from customer point of view.

Marketing mix

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This is the process involved in providing

a service

and the behavior of peopleWhich can be crucial to

Customer satisfaction

Marketing mix

ADOPTION OF PROFESSIONALISM

KEEP IN TOUCH with CUSTOMERS

Handling of a situation

Organisation’sCore support service

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Unlike a product, a service cannot be Experienced before it is delivered, Which Makes it intangible.

This therefore means thatPotential customers should actually seeWhat a service would be like.

This is done by providing physical evidence,Such as case studies.

Marketing mix

CLINICALABSTRACTS

VIDEO COVERAGE OF GOODS SENT

PHOTOGRAPHS OF PRODUCTS COMPANY PERSONNEL VISITING THE COUNTRY

The decor and ambience of your premises, staff & vehicles are very much part of the offer. All can have an impact on how you are perceived.

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Philosophy is the potential 8th P of marketingProducts or services should reflect the Underlying philosophy of the organization.

It should also be clear what the philosophyBehind the introduction of the particularProduct is, as well.

Marketing mix

One stop shop for all products

Innovative marketing company

Service beyond expectation

Innovative products

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EFFECTIVE STRATEGIESFOR ETHICAL MARKETING OVERSEAS

To Summarize……..

For a marketing Strategyto be successful, the mix of the Eight “ps” must reflect the wants and desiresof the CUSTOMERSin the target market.

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TAKE YOUR ‘BRANDS”

ETHICALLY & SUCCESS-FULLY

INDUS LIFE SCIENCES PVT. LTD.

Special Thanks to…IDMA & PHARMEXCIL

INDUS