ethical
Marketing
Overseas
JAYARAM
Director
INDUS LIFE SCIENCES PVT. LTD.
EXPORT OPPORTUNITIES to UPCOMING MARKET
INDUS
EPRG FRAMEWORK
Ethnocentric
- Home
country
orientation
Polycentrism
- Host country
orientation
Regiocentrism
- A regional
orientation
Geocentrism
- A world
orientation
Progression to Global Marketing
DOMESTIC
MARKETING
EXPORT
MARKETING
MULTINATIONAL
MARKETING
GLOBAL
MARKETING
INTERNATIONAL
MARKETING
INDUS
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
INDUS
ENVIRONMENT
PLAN & STRATEGY
COMPETITION
CURRENCY
BUSINESS RISKS
RESEARCH
HUMAN RESOURCES
ORGANISATIONAL VISION
PRODUCT DEVELOPMENT
LEGAL ASPECTS
INVESTMENT
PRICING
DISTRIBUTION
PROMOTION
DOMESTIC MARKETING vs OVERSEAS MARKETING
INDUS
ENVIRONMENT
The economic, political, legal, socio-cultural, compe
titive and technology environments are known,
hence one can take the Necessary precautions.
The environment is not fully known.
Innumerable hidden factors which may
emerge at any time to pose problems
PLAN & STRATEGY
Plans and strategies can be
Worked out for short terms and
Carried forward to long term.
Only long term planning and strategy will wor
k.
Strategic inputs are required in multiples.
COMPETITION
The maximum domestic comp
etitive forces operate and one
can understand their moveme
nt.
International competitive force
s play a vital role and it is very
difficult to understand their mo
tive
and movement.
DOMESTIC MARKETING vs OVERSEAS MARKETING
INDUS
•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…
INDUS
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
ETHICAL MARKETING OVERSEAS
INDUS
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
INDUS
The marketing concept relies upon
Marketing research
to 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 country?
INDUS
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
INDUS
WHAT IS THIS MARKETING MIX?
Marketing mix is a term
used to denote the
various components of
the marketing strategy.
INDUS
EXTENDED MARKETING MIX?
PEOPLE
PHILOSOPHY
PROCESS
PHYSICAL
EVIDENCE
MARKETING MIX
+
SERVICE MIX
INDUS
For a marketing plan to be successful,
the mix of the Eight “ps” must
Reflect the wants and desires of the consumers
in the target market.
Marketers depend on marketing research,
both formal and informal to
Determine 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
INDUS
IN MARKETING,
A PRODUCT IS ANYTHING
THAT CAN BE OFFERED TO A MARKET
THAT 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?
INDUS
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?
INDUS
Marketing mix
Promotion involves
disseminating information
about a
PRODUCT
SERVICE
COMPANY.
Personal selling
Sales representative
Non-personal selling
Advertising
Trade shows
Direct 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?
INDUS
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?
INDUS
Any person coming into contact with customers
Can 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
INDUS
This is the process involved in providing
a service
and the behavior of people
Which can be crucial to
Customer satisfaction
Marketing mix
ADOPTION OF PROFESSIONALISM
KEEP IN TOUCH with CUSTOMERS
Handling of a situation
Organisation’s
Core support service
INDUS
Unlike a product, a service
cannot be Experienced before it is delivered,
Which Makes it intangible.
This therefore means that
Potential customers should actually see
What a service would be like.
This is done by providing
physical evidence,
Such as case studies.
Marketing mix
CLINICAL
ABSTRACTS
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.
INDUS
Philosophy is the potential
8
th
P of marketing
Products or services should reflect the
Underlying philosophy of the organization.
It should also be clear what the philosophy
Behind the introduction of the particular
Product is, as well.
Marketing mix
One stop shop for all products
Innovative marketing company
Service beyond expectation
Innovative products
INDUS
EFFECTIVE STRATEGIES
FOR ETHICAL MARKETING OVERSEAS
To Summarize……..
For a marketing Strategy
to be successful,
the mix of the Eight “ps”
must reflect the
wants and desires
of the CUSTOMERS
in the target market.
INDUS
TAKE YOUR
‘BRANDS”
ETHICALLY & SUCCESSFULLY
INDUS LIFE SCIENCES PVT. LTD.
Special Thanks to…
IDMA & PHARMEXCIL
INDUS
doc_971725094.pptx
Marketing
Overseas
JAYARAM
Director
INDUS LIFE SCIENCES PVT. LTD.
EXPORT OPPORTUNITIES to UPCOMING MARKET
INDUS
EPRG FRAMEWORK
Ethnocentric
- Home
country
orientation
Polycentrism
- Host country
orientation
Regiocentrism
- A regional
orientation
Geocentrism
- A world
orientation
Progression to Global Marketing
DOMESTIC
MARKETING
EXPORT
MARKETING
MULTINATIONAL
MARKETING
GLOBAL
MARKETING
INTERNATIONAL
MARKETING
INDUS
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
INDUS
ENVIRONMENT
PLAN & STRATEGY
COMPETITION
CURRENCY
BUSINESS RISKS
RESEARCH
HUMAN RESOURCES
ORGANISATIONAL VISION
PRODUCT DEVELOPMENT
LEGAL ASPECTS
INVESTMENT
PRICING
DISTRIBUTION
PROMOTION
DOMESTIC MARKETING vs OVERSEAS MARKETING
INDUS
ENVIRONMENT
The economic, political, legal, socio-cultural, compe
titive and technology environments are known,
hence one can take the Necessary precautions.
The environment is not fully known.
Innumerable hidden factors which may
emerge at any time to pose problems
PLAN & STRATEGY
Plans and strategies can be
Worked out for short terms and
Carried forward to long term.
Only long term planning and strategy will wor
k.
Strategic inputs are required in multiples.
COMPETITION
The maximum domestic comp
etitive forces operate and one
can understand their moveme
nt.
International competitive force
s play a vital role and it is very
difficult to understand their mo
tive
and movement.
DOMESTIC MARKETING vs OVERSEAS MARKETING
INDUS
•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…
INDUS
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
ETHICAL MARKETING OVERSEAS
INDUS
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
INDUS
The marketing concept relies upon
Marketing research
to 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 country?
INDUS
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
INDUS
WHAT IS THIS MARKETING MIX?
Marketing mix is a term
used to denote the
various components of
the marketing strategy.
INDUS
EXTENDED MARKETING MIX?
PEOPLE
PHILOSOPHY
PROCESS
PHYSICAL
EVIDENCE
MARKETING MIX
+
SERVICE MIX
INDUS
For a marketing plan to be successful,
the mix of the Eight “ps” must
Reflect the wants and desires of the consumers
in the target market.
Marketers depend on marketing research,
both formal and informal to
Determine 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
INDUS
IN MARKETING,
A PRODUCT IS ANYTHING
THAT CAN BE OFFERED TO A MARKET
THAT 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?
INDUS
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?
INDUS
Marketing mix
Promotion involves
disseminating information
about a
PRODUCT
SERVICE
COMPANY.
Personal selling
Sales representative
Non-personal selling
Advertising
Trade shows
Direct 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?
INDUS
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?
INDUS
Any person coming into contact with customers
Can 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
INDUS
This is the process involved in providing
a service
and the behavior of people
Which can be crucial to
Customer satisfaction
Marketing mix
ADOPTION OF PROFESSIONALISM
KEEP IN TOUCH with CUSTOMERS
Handling of a situation
Organisation’s
Core support service
INDUS
Unlike a product, a service
cannot be Experienced before it is delivered,
Which Makes it intangible.
This therefore means that
Potential customers should actually see
What a service would be like.
This is done by providing
physical evidence,
Such as case studies.
Marketing mix
CLINICAL
ABSTRACTS
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.
INDUS
Philosophy is the potential
8
th
P of marketing
Products or services should reflect the
Underlying philosophy of the organization.
It should also be clear what the philosophy
Behind the introduction of the particular
Product is, as well.
Marketing mix
One stop shop for all products
Innovative marketing company
Service beyond expectation
Innovative products
INDUS
EFFECTIVE STRATEGIES
FOR ETHICAL MARKETING OVERSEAS
To Summarize……..
For a marketing Strategy
to be successful,
the mix of the Eight “ps”
must reflect the
wants and desires
of the CUSTOMERS
in the target market.
INDUS
TAKE YOUR
‘BRANDS”
ETHICALLY & SUCCESSFULLY
INDUS LIFE SCIENCES PVT. LTD.
Special Thanks to…
IDMA & PHARMEXCIL
INDUS
doc_971725094.pptx