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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
www.optiran.ir
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…….
wwww.optiran.ir
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
www.optiran.ir
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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www.optiran.ir
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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www.optiran.ir
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
www.optiran.ir