The Role of Marketing in Pharmaceutical Industry

The Role of Marketing in Pharmaceutical Industry

What lies at the heart of effective healthcare? It’s prevention and treatment of diseases. Medicine is getting better at curing rare and complex disorders with each year. The pharmaceutical industry is also developing innovative medications at a faster rate than ever. However, there is still a massive gap between the new meds and the doctors who prescribe them. Why is that so?

Article

Year of Creation

2018

Because information about new medicines, healthcare professionals mostly gets from pharmaceutical representatives via personal and very short meetings. Such brief interactions make it very challenging to deliver valuable information about new treatments.

So, where is the place for marketing in this scheme? Marketing is the very interaction between pharmaceutical representatives and healthcare professionals. Pharma reps are responsible for informing doctors about new studies and clinical data by promoting novel drugs and medical products.

So, where is the place for marketing in this scheme? Marketing is the very interaction between pharmaceutical representatives and healthcare professionals. Pharma reps are responsible for informing doctors about new studies and clinical data by promoting novel drugs and medical products.

Sometimes pharmaceutical industries are bad at differentiating their brands in an overcrowded market. There is an interesting survey in Forbes where top executives were asked to rank their business priorities. Priorities listed from top to bottom were the following: finance, sales, production, management, legal and people.

We see that CEOs have forgotten about the two major activities that drive a company’s commercial success: marketing and innovation.

The best way to differentiate a pharmaceutical brand is to emphasize marketing, namely content-marketing strategies with value for consumers information presented in digital form (interactive text, video, app, VR, AR).

According to 2018 Digital Trends report by Adobe, more and more companies are choosing social media engagement, content marketing, and personalization as their top priorities (see image below).

It means that traditional marketing with TV and print ads is giving way to digital marketing with personalized and useful content. Cutting-edge technologies have provided marketers plenty of innovative opportunities to engage their target audience by not only capturing and holding their attention but also by stunning them with WOW effects.

Visuals are the most effective means of gaining the interest of the consumer. Adobe survey states that 73% of their respondents are investing in design to differentiate their brand.

In our next article, we’ll look into reasons why pharma marketing should go digital and will show you where to start.

Stay tuned.  

The Role of Marketing in Pharmaceutical Industry

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The Role of Marketing in Pharmaceutical Industry

The Role of Marketing in Pharmaceutical Industry

The Role of Marketing in Pharmaceutical Industry

The Role of Marketing in Pharmaceutical Industry

The Role of Marketing in Pharmaceutical Industry

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