This document reviews promotional techniques used in the pharmaceutical industry. It discusses traditional promotion methods like advertising in publications, sponsorships, personal selling, and branding. It also examines 21st century techniques like electronic detailing, email marketing, and direct-to-consumer advertising. The document outlines challenges in pharmaceutical marketing like targeting the right audiences, remaining flexible while maintaining brand cohesion, and navigating treatment costs. It aims to examine the impact of promotion strategies on company growth and increasing product sales.
A REVIEW ON PROMOTIONAL TECHNIQUES IN PHARMACEUTICAL INDUSTRIES_ (1).pptx
1. A REVIEW ON PROMOTIONAL TECHNIQUES IN
PHARMACEUTICAL INDUSTRIES
Presented by :
Mr. Shreyas Milind Dandi
Final Year B.Pharm
PRN No. : 1954711823031
Guided by :
Mr. Vishal P. Kopnar
M.Pharm
{Pharmaceutics}
Saikrupa Institute of Pharmacy, Ghargaon, Ahmednagar- 413728
2. Contents
Introduction
Traditional Pharmaceutical Promotion
Pharmaceutical Promotion In 21st Century
Challenges In Pharmaceutical Marketing
Expenditure By Type of Pharmaceutical Marketing
Objective of the Study
Conclusion
3. Introduction
Pharmaceutical marketing is the business of advertising
or otherwise promoting the sale of pharmaceuticals or drugs.
Marketing plays a key role in influencing or directing
activities from the manufacturer to the patient. It is the demand
from the consumer that determines which goods will be
produced. Any pharmaceutical company that wants to serve its
market has to endeavour in direct marketing activities so that
the right product is sold in the right quantity in the right place
at the right time.
4. There are main 2 types of Pharmaceutical Promotion -
Traditional Pharmaceutical Promotion :
Advertisement in journals, books, professional publications,
Sponsorships, Personal selling, Branding.
Pharmaceutical Promotion in 21st Century :
Electronic detailing, Email marketing, Electronic direct
to consumer, advertisement.
5. TRADITIONAL PHARMACEUTICAL PROMOTION
The pharmaceutical industry is still implementing the
traditional marketing strategies in which the industry has
revolved around the vigorous product marketing of the
prescription drugs that the decision-makers will make money.
6. Advertisment in journals, books, professional publications-
Advertising in pharmaceutical journals is one of the most operating
techniques used by pharmaceutical companies to assist their products to
physicians as it serves as the main source of medicines information to
doctors.
Sponsorship-
Pharmaceuticals can influence physicists and patients through
professional workshops, seminars, and conferences to seek more
attention towards the product, which is a great chance to interact with
physicians directly and get appropriate advice which becomes more
feasible to tune in with professionalisms
7. Personal Selling-
Personal selling is one of the oldest and most suitable methods of
business promotion defined as a management process that involves the
assessment of customer wants and needs, and the performance of all
activities connected with the development, pricing, provision, and promotion
of product solutions that satisfy those wants and needs.
Branding-
Brand name contributes significantly to consumer purchase decisions
especially in the area of product identification, selection and positioning,
and product differentiation, to differentiate their products from
companies using packaging symbols, trademarks, and logos among
others.
8. PHARMACEUTICAL PROMOTION IN 21st CENTURY
There is a strong opportunity to integrate online and social
media with traditional marketing strategies to meet the expected
business objectives.
Electronic Detailing-
Media has identified two main types of e-detailing, virtual live e-
detailing and scripted e-detailing Virtual live e-detailing is defined as the
face to face based video conferencing between a physician and a
pharmaceutical representative where the video image of the representative
is displayed while audio communication is conducted over the telephone or
microphone.
9. Electronic Direct to consumer advertisement –
It is defined as any unsolicited promotional endeavor by a
pharmaceutical company to present information about medicine or
medical services to the public in the popular media that includes
television, radio advertisement newspapers, magazine advertisements,
billboards, and direct mailings.
Email Marketing Systems –
There has been a massive growth in direct mail campaigns over the
last decade representing 11.8% of advertising expenditure. Direct
mailallows an organization to use its resources more effectively by
allowing them to send publicity material to named persons within its
target segment.
10. CHALLENGES IN PHARMACEUTICAL MARKETING
Targeting the Right Audience-
To target the right audiences in their marketing campaigns,
marketers need access to advanced targeting technologies, tools and
analytics that drive valuable insights about consumer behaviors.
Marketing campaigns need to reach the right audiences on the most
effective platforms, which means marketers need to stay up-to-date with
the latest trends in consumer targeting and behavior insights, to identify
the channels most often used by the target audience.
11. Remaining Flexible Yet Cohesive –
In the perpetually evolving market, pharma companies must remain
flexible, adapting to recent changes in technologies, discoveries,
regulations, and digital platforms without fragmenting their brand.
Navigating the Cost of Treatment -
The cost of treatment remains as a challenge in the pharmaceutical
industry. The budget required during the pre-development phases,
clinical trials and post-development continued research can reach
approximately $2.6 billion for a single pharmaceutical drug—and these
drugs have less than a 12% approval rate to enter the market.
13. OBJECTIVE OF THE STUDY
Research Methodology-
Research Type: Descriptive Research.
Research Area: The study was carried out in major cities.
- To examine the impact of Promotional strategies on growth of
Pharmaceutical Companies.
- Build brand awareness and enhance their brand to establish
themselves as a trusted entity in the community.
- Increase sales of pharmaceutical products to maximize the return on
product costs and advertising investments.
14. CONCLUSION
An effective pharmaceutical marketing strategy incorporates a mixed
approach, including: Social media campaigns.
Pharmaceutical promotional strategies are the key to successful
pharma marketing hence promotion is very important to expand the
sales of the pharmaceutical companies.
This study has also explored the various techniques and tools of
promotion followed in the pharmaceutical companies. We hope that
practitioners can benefit from our analysis in order to better
understand the various techniques and tools of promotion.
15. REFERENCES
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of Promotional strategies of Pharmaceutical companies on doctor’ Prescription
pattern in south east nigeria,”Arastima/Research Article,2010.
Yusuf Kani, May Alowi,”Impact of pharmaceutical companies’ promotional tools
on physicians’ prescription patterns: A systematic Review,”Journal of applied
pharmacy,2018.
Noordin Othman, Agnes vitry,Elizabeth E.Roughead,”Quality of pharmaceutical
advertisements inmedical journal: A systematic Review,”research article,2008
Alexander C. Tsai,”Conflicts between commercial and scientific interests in
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