PHARMACA

Nicole Frank, Seda Gokoglu, Ian Hollingsworth, Steve Marzocchi

Introduction

Pharmaca Integrative Pharmacy is a western based pharmacy chain with a holistic approach to

healthcare. They offer a variety of alternative care options such as supplements, herbal remedies, homeopathic medicines, and a

knowledgeable staff complete with practitioners.

Situation Analysis

•Focus on education of consumers

•Free consultations

•Lack of name recognition

•Lack of consumer knowledge of

alternative medicines

Situation Analysis

•High interest in natural health

products

•Boston 2nd healthiest city in

the US

•Primary Competitors

•Consumer skepticism of alternative

medicine benefits

Marketing Problems

Main competitors are: GNC, CVS, & Vitamin Shoppe

Low brand awareness in the Northeast

Limited knowledge of alternative medicine

Research Objectives

General: Gauge consumer interest & demand for Pharmaca Understand where alternative therapy fits into

consumer lifestyles

Specific: Identify criteria for consumer’s ideal pharmacy Identify consumers’ main health concerns Determine overall evaluation of Pharmaca

Methods: FGI

9 participants: 7 Females, 2 Males aged 18-27 who are students & full-time workers

Nonprobability convenience sample Concept board presented Discussion was about:

Healthy lifestyles Alternative medicine knowledge/use Perceptions of Pharmaca

Methods: Survey

Data Collection Method: 80 survey respondents (50 female, 30 male) 24 qualitative & quantitative questions

Sampling Method: Nonprobability convenience sampling Requirements:

18 years or older Live in greater Boston area

Methods: Survey

Measures: Major constructs measured:

Alternative medicine purchase behavior Important factors in choosing a pharmacy Overall Pharmaca evaluation

How constructs were measured: Nominal scale 5-point Likert scale

Methods: Survey

Data Analysis: Frequency, percentage, cross-tabulation, independent

sample T-test, oneway ANOVA

Action Standard: 3.50 with Top 2 Box 60%

FGI Results: Before Concept Board

Participants experience with CAM Lack of knowledge/necessity

Healthcare History Traditional medicine

Health is Intrinsic Diet and exercise Correct rather than maintain

FGI Results: After Concept Board

Concept Evaluation Warm and inviting

Potential Target Market Young professional family Eco-conscious individual Whole Foods clientele

Competitors CVS, Walgreens, Rite-Aid

FGI Results: After Concept Board

Product Green Image

Place T accessible Affluent suburb

Price High

Promotion TV Fliers

Marketing Mix

Survey Results: Before Concept Board

Interest in alternative medicine

Overall participants were Somewhat Interested (2.82)

Males expressed greater interest in Alternative medicine

Interest in Alternative Medicine Increased with Age.Participants 35+ were Very Interested

Survey Results: Before Concept Board

Reasons for not using alternative medicineLack of knowledge is the main reason for consumers

choosing to not use alternative medicine

Survey Results: After Concept Board

Overall Impression of Pharmaca

Overall, all participants regardless of gender and age

are above our action standard

Action Standard:Top 2 Box 60%Mean Score 3.50

    Gender Age  Total Females Males 18-24 25-34 35+

  % % % % % %

Top 2 Box % [67] [69] [63] [69] [70] [61]

Mean Scores 3.74 3.76 3.73 3.76 3.65 3.83

Survey Results: After Concept Board

Intention to Visit Pharmaca

Total mean score = 3.55Top 2 Box % = 61%

Females displayed highest mean score

Survey Results: After Concept Board

Encouragement to Visit Pharmaca

The top types of encouragement to visit Pharmaca are: location, promotions,

word-of-mouth, and coupons

Females Preferred Promotions

Males Preferred Loyalty Programs

Conclusion

Level of acceptance: top 2 box % = 67%

mean score = 3.74 Purchase intention: top 2 box % = 61%

mean score = 3.55

ENTER BOSTON Action Standard:

Top 2 Box 60%Mean Score 3.50

The Four P’s

Product Wide range of products & services Aesthetically pleasing environment Knowledgeable staff

Price $100 spent annually on alternative medicine

Place Easily accessed by public transportation

Promotion Awareness campaign

Future Research Direction

Best location for Pharmaca in Boston

Price points

QUESTIONS?