10 ten best, average and worst Points of Pharmaceutical marketing

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Pharmaceutical Marketing

Transcript of 10 ten best, average and worst Points of Pharmaceutical marketing

1. Best Pharmaceutical Marketing Practices 2. One to one Detailing to HCPs by Medical Rep through When, Why, How 3. Continuing Medical Education Programs (CME) 4. Donations to Govt. Hospitals 5. Regeneron Pharmaceutical Campaign 6. Easy access to information is a major pro for health care professionals. It has been observed that many health care professionals are searching the web for informational purposes. More timely information is made available over the web, as compared to the lag time experienced in current print media. 7. Over the past 5-7 years, the Internet has become an extremely viable source of information for consumers. Another major advantage is the vast amount of information available for consumers. There are constantly new and innovative sites being developed for consumers by various companies, including some pharmaceutical manufacturers. Consumers seeking information related to pharmaceutical products can get much more detailed information via the Internet than is offered at the physician's office. 8. Worst Pharmaceutical Marketing Practices 9. Sure, a big part of launching a drug revolves around the drug itself - developing the chemical composition, submitting the drug for approval, ensuring formulary positioning, and more all focus on the physical product. But often lost in the mix is the customer and market. 10. A good product is important. But just as, if not more, important is the team guiding that product to market, and pushing it towards success. 11. For effective pre-launch planning, company departments must work together. Why is cross-functional work necessary for successful pre-launches? Consider product research and development, which can often take place in a vacuum. With a cross- functional team, R&D can learn the concerns and needs of marketers, incorporating new research points that can be instrumental in later positioning and sales. 12. Everyone wants the competitive advantages of being first to the market, or first to address a unique need. 13. Launching a new product can be a very educational experience for all those involved. But without the means of measuring success, tracking activities, and learning from mistakes, all the lessons of launch can be forgotten, creating a missed opportunity to improve future launches. 14. Consistency is a critical business practice. But many companies can take this desire overboard, fitting every new product into the same mold, and eliminating the creativity and uniqueness of each product. 15. No matter how much you plan ahead, new drug development is inherently risky in today's environment. Increasingly, pharma managers and marketers need a way to assess the potential of new products, and the likelihood of success upon launch. Analytics models can provide insight on what drives your target consumers, and help predict actual launch results. 16. Information sometimes provided on the Internet is too technical or difficult for the lay consumer to understand. This may result in more confusion to consumers regarding the product for which they are seeking information. It has been observed that along with other relevant product information, an extensive 'side effect' profile of pharmaceutical products is sometimes provided at the product-related Web sites. 17. The information sometimes provided is too simple for the health care professional, as some Web sites are geared to the lay public. Another disadvantage is that some clinical studies described on the Internet do not always contain references to medical literature. No references may affect the credibility of these sites. 18. The Web sites are usually not created by healthcare professionals, and thus the authority is absent in determining certain errors. These Web sites should be questionable to consumers. Most companies hire non-medical personnel who have the technical skills needed to create a Web site, but mistakes may occur in transcribing information, thereby going unnoticed. 19. Expensive Gifts Excursion Trips Vacation Packages Local and Foreign Trips Unethical Practices Renovation of Clinic Partner ship offers Installment offers