Pharmacy Marketing Concepts

Market Research and Analysis:

The purpose of our market research and analysis was to evaluate the interest and need for a pharmacy based allergy clinic. We did this by creating a survey to hand out to our customers at a pharmacy in the Sutherland area.

The potential customers for this initiative are of a wide variety which includes mostly baby boomers, but also the elderly population and young adults. Basically, this initiative would be directed at all of our pharmacy customers, not just one subset of customers. These potential customers are located in Saskatoon and surrounding rural areas. Most of our potential customers would reside in the immediate surrounding area of Sutherland.

These customers are most interested in receiving knowledge and education about the allergy medications they take. How to manage their allergy symptoms seems to be of great importance to our potential customers. There was also an expressed need for education on reduction of allergens in the home. Our future customers are motivated to utilize our initiative by convenience, free samples, free services, expertise of the pharmacists, and by the education they would receive on how to reduce their symptoms. These customers are sensitive to convenience, price, and quality of service.

The best way to contact these customers in the future is by a television ad, a newspaper ad, or pamphlets at the pharmacy. These customers expressed a preference to have an individual appointment style clinic rather than seminar style. The estimated size of our market is the population of Saskatoon which is 160,000-180,000 people, of which about 33% have allergies, which drops the market size to approximately 52,800-59,400 potential customers. The demographic makeup of Sutherland seems to be 17-80 years of age, all with average steady incomes.

The psychological factors that exist in this market tend to be things surrounding convenience.