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Tag: Pharma Marketing

  • Role of Pharmacists in Pharma Marketing

    Role of Pharmacists in Pharma Marketing

    Pharma Marketing

    The role of pharmacists in pharma marketing is a pillar of the pharma industry. Pharmacists play a critical role in pharmaceutical marketing.

    I remember when I was a Medical Representative a pharmacist was insisting on providing free samples to him to gain more sales from his counter. As the samples were for physicians I refused to give them to him. Anyhow I was able to make him my friend and thus got full support.

    Hence the role of pharmacists is very important in pharma marketing for selling your products through prescriptions and recommending your products to other customers.

    They are the primary point of contact for patients buying medicines on their prescriptions, and pharmacists have the opportunity to educate patients about new drugs and their side effects.

    Pharmacists can also provide valuable insights to pharmaceutical companies about patient needs and preferences.

    Here are some of the roles of pharmacists in pharmaceutical marketing:

    Pharmacists role to educate patients about new drugs. 

    Pharmacists can provide patients with information about the benefits, risks, and side effects of new drugs. They give information about the dosages. They can also answer questions about how to take the drugs and what to do if they experience side effects.

    Hence pharma marketers should provide information about the medicine and especially about new drugs.

    Identifying barriers to medication adherence. 

    Pharmacists can help patients identify and overcome barriers to medication adherence, such as cost, forgetfulness, or difficulty understanding the instructions. Usually, they stick stickers of instructions for dosages on the strips and bottles. Thus they help the patient which in turn grows the patient faith in the pharmacists and pharma companies.

    Hence the pharma marketer should communicate with the pharmacist about the difficulties they are facing and convince them by providing solutions.

    Providing patient feedback to pharmaceutical companies. 

    Pharmacists can provide pharmaceutical companies with valuable feedback about patient needs and preferences.

    This feedback can help companies develop new drugs and marketing strategies that are more effective.

    Related Page: IMPORTANT SKILLS FOR PHARMA MARKETING

    Direct Marketing activities

    In addition to these direct marketing activities, pharmacists can also help to promote pharmaceutical products indirectly. They can also promote OTC and generic products of pharmaceutical companies.

    For example, they can display promotional materials in their pharmacies, or they can participate in educational events about new drugs.

    Conclusion

    Overall, pharmacists play a vital role in pharmaceutical marketing. They are well-positioned to educate patients about new drugs, identify barriers to medication adherence, and provide feedback to pharmaceutical companies. They can also generate extra sales for a pharma company.

    By working together, pharmacists and pharmaceutical companies can help patients get the most out of their medications. It is better to make a friendly relationship with the pharmacists for the growth of your company.

    Thus the role of pharmacists in pharma marketing is important and a marketer should consider pharmacists in their planning.

  • Important Skills for Pharma Marketing

    Important Skills for Pharma Marketing

    Important skills for Pharma Marketing

    The skills required for pharma marketing are constantly evolving and provide the best career opportunities in the Pharmaceuticals industry. This industry is growing hence there will always be a need for skilled marketing professionals.

    These skills are important since it helps you in your career growth through your job performance, and communication with your seniors, colleagues and your clients.

    Some of the most important skills include:

    Project planning and management: 

    Various projects are regularly going on in the pharmaceutical industry. It may be a new formulation or a different drug delivery system. These innovations help to grow the industries as well as beneficial for patients.

    Acquiring complete knowledge of the project, making the plan and managing it properly makes the project successful.

    Pharmaceutical marketing campaigns can be complex and require careful planning. Marketers need to be able to identify the capacity of the drug manufacturer, the target audience, develop the marketing message, and select the right channels to reach the targeted audience.

    Problem-solving: 

    Pharmaceutical marketing is constantly evolving, and marketers need to be able to adapt to change. They need to be able to identify and solve problems quickly and efficiently.

    It requires your decision-making ability and also the ability to analyse and evaluate the situation and take action appropriately.

    Communication skills for pharma marketing: 

    Pharmaceutical marketers need to be able to communicate effectively with a variety of audiences, including doctors, pharmacists, and other healthcare professionals. They need to be able to explain complex medical concepts clearly and concisely. Communication skills are a must for pharma marketing.

    Specialization skills for pharma marketing: 

    Pharmaceutical marketing is a specialized field, and marketers need to have a deep understanding of the industry. They need to know the latest trends, regulations, and technologies.

    Apart from marketing knowledge you also need knowledge of pharmaceutics, pharmacology, anatomy and physiology of the human body. This will help you in communicating medical terminology with ease.

    Good initiative: 

    Pharmaceutical marketers need to be able to take initiative and work independently. They need to be able to identify opportunities and develop creative marketing strategies.

    Managerial skills for Pharma Marketing: 

    Pharmaceutical marketers often need to manage projects and budgets. They need to be able to delegate tasks, track progress, and make necessary adjustments.

    Business awareness: 

    Pharmaceutical marketers need to have a strong understanding of the business world. They need to know how to develop and execute marketing strategies that meet the company’s goals.

    Attentiveness skills for pharma marketing: 

    Pharmaceutical marketers need to be attentive to the needs of their target audience. They need to be able to identify and respond to changes in the market.

    Regulations: 

    Pharmaceutical marketing is highly regulated, so marketers need to be familiar with the latest regulations. They need to ensure that their marketing materials are compliant with all applicable laws and regulations.

    Ethics: 

    Pharmaceutical marketing is a highly ethical field, so marketers need to be aware of the ethical considerations involved in marketing pharmaceutical products. They need to ensure that their marketing materials are truthful and accurate and that they do not make any misleading claims.

    How to Succeed in Pharma Marketing

    If you are interested in a career in pharma marketing, you should have a strong academic background in pharmacy, marketing, business, or a related field. You should also have experience in writing, communication, and project management. You should also be able to work independently and as part of a team.

    Here are some additional tips for success in pharma marketing:

    Stay up-to-date on the latest trends and regulations. 

    The pharmaceutical industry is constantly changing, so it is important to stay up-to-date on the latest trends and regulations. You can do this by reading industry publications, attending industry events, and networking with other professionals in the field.

    Develop strong relationships with key stakeholders. 

    To be successful in pharma marketing, you need to develop strong relationships with key stakeholders, such as doctors, pharmacists, and other healthcare professionals. These relationships will help you to understand the needs of your target audience and develop effective marketing campaigns.

    Be creative and innovative. 

    The pharmaceutical industry is a highly competitive market, so it is important to be creative and innovative in your marketing strategies. You need to find ways to stand out from the competition and reach your target audience in a meaningful way.

    Utilize your skills

    Be passionate about the industry. 

    Finally, it is important to be passionate about the pharmaceutical industry if you want to be successful in pharma marketing. This passion will show through your work and help you to connect with your target audience.

    Conclusion

    Skills are important to build your expertise in the pharmaceutical industry and for your career growth. You may or may not have some skills but if you are eager to develop your abilities you can very well succeed in your life. Hence develop important skills for pharma marketing and make your career in the pharma industry.

    Click the Link to Read How to Become a Medical Representative in India

  • Pharma Marketing Strategies for a New Pharma Company

    Pharma Marketing

    Pharma marketing and selling is the marketing of pharma products, branded medicines, generic medicines, OTC products, and medical equipment.

    In this competitive phase in the pharma market, it is difficult for a new company to develop its brands and gain major market share.

    Here I will provide the different strategies which can be implemented by a new pharma company or those who are planning to build a pharmaceutical manufacturing unit.

    TRADITIONAL WAY

    The traditional way of marketing pharma products is to recruit Medical Representatives, Managers of the state, develop the distribution network, contact Doctors through the field staff, generate prescriptions from doctors, and fulfil the demand through retailers by supplying to them from the distributor.

    This type of marketing strategy is been used for many years successfully.

    When I joined as Medical Representative in 1980 only a few pharma companies were in the market and most of the doctors were not visited by MR. 

    The sales were automatically generated since most of the doctors were following the prescriptions of established senior doctors from whom we were generating sales.

    At that time the literature of product information, few samples, small gifts, and visits were enough for a doctor to get prescriptions.

    Here I would like to add that during those days many research products, new combination drugs, and new drug delivery system was developing and coming into the market with very low competition.

    With the change of time and increasing competition between the pharma companies coming with the same molecules, the field staff started corrupting doctors instead of convincing them later on the companies were also involved in it.

    Still, it’s the best strategy if you are ready to invest in marketing for a long time with some unique ideas.

    The best example is Mankind Pharma which has grown fast by implementing aggressive marketing and low price of the products.

    Unique Ideas

    GENERIC PHARMA MARKETING

    The market for generic products is developing fast.

    You can start marketing your products by just appointing one or two field staff in a state.

    Your field staff along with the distribution network can develop your market by selling your products at a generic price.

    You have to pay attention to your price list, fast-running salts which a retailer can easily sell on the counter. The general practitioner can also be your targeted customers.

    OTC MARKETING  

    Many established brands are now promoted through print and Tv media to boost their sales.

    Many other non-prescription products can also be promoted through print media, Tv channels, field staff, promotional materials, promotional canopy, trade centres, and trade fairs.

    To establish the brand you have to be prepared for the advertising budget. 

    I know this budget is much more than the production cost of the product but it also increases the brand value.

    Remember KESH KING oil, Zandu Balm is been purchased by Emami at very high prices.

    FRANCHISE MARKETING 

    Marketing through the franchisors by giving them permission for marketing in a selected area. 

    The franchisor may be a pharma distributor, an ex-Medical representative, or an ex-Manager.

    You can also select some NGOs that are working in the medical field having good contacts with doctors. 

    You have to provide only a few promotional pieces of literature, visual aid, a detailing bag, and a few small gifts.

    All other marketing expenses have been beer by the franchisor within the fixed margin(app. 40-60%) on the purchase provided by you.

    You can provide incentives with rewards to develop sales in their areas.

    TELEMARKETING

    You might be astonished at how a pharma product can be sold by telemarketing.

    It’s marketing to generate leads from the pharma distributors for particular products.

    It requires 20-30 cold calls every day to pharma distributors. Phone numbers are easily available on the internet, yellow pages…

    There are thousands of pharma distributors who are looking for a unique brand for a monopoly to avoid competition.

    They can set up your brand in their areas and can get benefits.

    You have to develop trust with them to retain their monopoly and regularly feed their demand for the products.

    This is beneficial for the companies as well as the distributors.

    ONLINE PHARMA MARKETING  

    Although it’s not new a few companies worldwide are doing online marketing for products related to healthcare. Examples are the few banners above in this post.

    Still, in India and worldwide, a lot of scopes exist. As the urban population’s awareness regarding healthcare and online purchasing habits is increasing daily.

    It doesn’t require much time to create a site. However, a lot of effort is required to develop and increase online sales.

    For online marketing 

    1 You have to choose certain healthcare OTC products like skincare, anti-ageing, ayurvedic products, and health-supporting products.        

    2 Creating an online store It’s very simple with very little investment.

    For creating an online store you need

    a) A Hosting platform to run your site on the internet.

    b) A domain name(your company name) the address of your site on the internet.

    c) A website building platform like WordPress or some other website builder.

    d) A few online tools for online marketing.

    3 If you feel difficulty in creating an online store you can hire online a freelancer web developer from Fiverr.

    4 For online marketing, you can promote your site on social media. You can also use autonomous tools from Buffer or contact any social media marketing agencies. We provide these services at very nominal charges. Check Here

    5 You can also introduce an affiliate program on your site. You have to give a commission on sales to your affiliates. You have also to provide promotional banner links and unique affiliate tracking links for the products.   

    READ MORE

    3 Simple Steps to Create a Business Website

    The Final Thought

    Pharmaceutical marketing is different and unique as compared to other products. Hence we have to use different strategies at different times depending on the situation.

    You can take my advice as your consultant full-time or on a contract basis, feel free to contact us.

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