Marketing Strategy A marketing strategy is that allows an organisation to concentrate on its optimal resource and future prospects to increase profitability and achieve sustainable competitive advantage Farrell, Several chain pharmacies have their personalised service and save the data of the customer as a record of purchases.
Our management staff are well groomed in retail pharmacy and all our employees are trained to provide customized customer service to all our clients. Here are the payment options that will be available in every of our outlets; Payment by cash Payment via Point of Sale POS Machine Payment via online bank transfer online payment portal Payment via Mobile money Check only from loyal customers In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches. As soon the pharmacy will get popular then the services of more pharmacists will be considered. In this era when the prices of the pharmacy products are increasing rapidly, it is believed that discounted offers from MPD will appeal many local customers to buy drugs from it. Before choosing a location for our pharmacy store, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Baltimore, MD.
The MDP is also fully capable of maintaining industry margins by using the other operating efficiencies. The survey will be developed by involving CEO as he is experienced, skilled, and have lots of knowledge of local market. If all of these factors are missing from a business company , then it may not be too long before the business closes shop. Our pharmacy is well positioned and visible, we have enough parking space with good security. Normally, competing with giant competitors on basis of just price is not a sustainable practice Boone, In this period, I had not only become conversant with customers buying pattern, I had also learnt how to sustain long term relationship with my client in such a way to always ensure repeated sales.
The chain pharmacies offer more discounted products through the economies of scale Chisholm-Burns et al. The MDP is also fully capable of maintaining industry margins by using the other operating efficiencies. Our pharmacy is well positioned and visible, we have enough parking space with good security. The pharmacy customers are in majority who are well-informed and take regular medicines and also have some awareness of the side-effects of medicines in case of over usage.
We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time. This is more important in case of Saudi customers because it is not easy to attract local customers because of their faithfulness to existing companies. To provide quality product at fair and lowest possible prices with exemplary services. January Another source of marketing research will be random street interviews people.
Smaller retail pharmacies ensures that each order carries a printout.
Finally, due to the presence of 8 pharmacist, the MDP is not required to hold the patients hands when they buy prescribed medicines. My internship opportunity also afforded me valuable skills on how to maintain drug quality, determine the number of bulk purchase to be made per stocking, etc. Nova Publishers Navarro, R. I have a great passion for self-reliance and creating job opportunities. Pricing: The pharmacy will compete with its rivals on the basis of discounted prices.
These marketing strategies with discounted offers will increase the visibility of the pharmacy. The local pharmacies on the other hand exist where customers physically visit for purchasing prescribed medicines. It is a fact that small retail pharmacy stores will always struggle with larger pharmacy chains when it comes to pricing power and brand recognition, which is why smaller retail pharmacy store always go out of their ways to deliver excellent customer service. Fair and lowest possible prices.
However, they charge high prices to them and thus achieve more profitability. Therefore, they maintain the history of the customer for their own records as well as for the well-being of the customers Parvis, All our employees will be well trained and equipped to provide excellent and knowledgeable customer service. Mr Dayo Adetiloye — B.