Coarse Description
Pharmaceutical Marketing
Teacher
VIVEK BARIK
Category
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- Short Description:
- Pharma marketingrefers to the digital and offline strategies used to attract new patients and increase awareness around a specific drug or treatment plan. Pharma marketing can either be geared towards physicians (the lion’s share of the market) or towards selling directly to consumers.
- Marketing to patients and doctors require distinct strategies but pharma marketing in general involves the same principles that you find in any other industry.
- In many ways, implementing these strategies can take time due to lack of understanding and for the fact that many CEOs are still consumed by the ‘old way of thinking’.
- Either way, most companies are investing more in marketing than research and development for good reason but with most companies still implementing the same strategies, taking an alternative approach to marketing is most certainly the key to successful marketing in the pharma industry.
- Pharmaceutical industries adopted marketing toll with some controlled practices initially. But with passage of time, pharmaceutical marketing became like fast moving consumer goods (FMCG) and all the concerns regarding patient safety and health were neglected.
- The definition of pharmaceutical marketing is activities focused on making physicians as well as the general public aware of new and existing pharmaceutical brands, pharmaceutical marketing can include giveaway samples, detailed product literature, disease management programs, and support material for patients, internet initiatives, and events/meetings for physicians. Pharmaceutical marketing can also be defined as a management process that serves to identify and meet patients needs in a profitable way. Pharmaceutical business mainly adopts sales and promotion, the branches of marketing.
- World Health Organization (WHO) defines promotion as all informational and persuasive activities by manufacturers and distributors, the effect of which is to induce prescription, supply, purchase and/or use of medicinal drugs.
- International Federation of Pharmaceutical Manufacturers Association (IFPMA) defines promotion as any activity undertaken, organized or sponsored by a member company (pharmaceutical company member of IFPMA) which is directed at healthcare professionals to promote the prescription, recommendation, supply, administration or consumption of its pharmaceutical product(s) through all media, including the internet.
- Eligibility: B.Pharmacy, Pharma MBA, BSc
- Prerequisite: Basic Knowledge on Pharmaceitical Marketing
- Duration of course: 45 hours of theory
- Key Highlights:
Faculty: Vivek Barik
Job opportunities: Pharmaceutical marketing
Coarse Objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors: At the end of the course the student should be able to:
• Describe, classify, structure and combine concepts, theories, methods and models taught
• Identify and develop relevant issues within pharmaceutical marketing
• Analyze and synthesize specific issues within pharmaceutical marketing by using the concepts, theories, methods and models taught
• Assess and communicate problem-solving on a reflective, scientific basis
Learning Outcomes
Describe the concept of pharmaceutical marketing.
Enumerate the concept of product management in pharmaceutical industry
Discuss the various components of promotion of pharmaceutical products
Explain the different pharmaceutical marketing channels
Discuss the role and responsibility of professional sales representative
Discuss the roles and responsibilities of pricing authorities in India
Discuss the emerging concepts of marketing
Discuss the role market research
Coarse Syllabus
Module: 1
Marketing: Definition, general concepts, and scope of marketing; Distinction between marketing & selling; Marketing environment; Industry and competitive analysis; Analyzing consumer buying behavior; industrial buying behavior.
Pharmaceutical market:
Quantitative and qualitative aspects; size and composition of the market; demographic descriptions and socio-psychological characteristics of the consumer; market segmentation& targeting. Consumer profile; Motivation and prescribing habits of the physician; patients' choice of physician and retail pharmacist. Analyzing the Market; Role of market research.
Module: 2
Product decision: Meaning, Classification, product line and product mix decisions, product life cycle, product portfolio analysis; product positioning; New product decisions; Product branding, packaging and labeling decisions, Product management in pharmaceutical industry.
Module: 3
Promotion: Meaning and methods, determinants of promotional mix, promotional budget; An overview of personal selling, advertising, direct mail, journals, sampling, retailing, medical exhibition, public relations, online promotional techniques for OTC Products.
Module: 4
Pharmaceutical marketing channels: Designing channel, channel members, selecting the appropriate channel, conflict in channels, physical distribution management: Strategic importance, tasks in physical distribution management.
Professional sales representative (PSR): Duties of PSR, purpose of detailing, selection and training, supervising, norms for customer calls, motivating, evaluating, compensation and future prospects of the PSR.
Module: 5
Pricing: Meaning, importance, objectives, determinants of price; pricing methods and strategies, issues in price management in pharmaceutical industry. An overview of DPCO (Drug Price Control Order)and NPPA (National Pharmaceutical Pricing Authority).
Emerging concepts in marketing: Vertical & Horizontal Marketing; Rural Marketing; Consumerism; Industrial Marketing; Global Marketing.
Session Plan
Session Plan 1
Marketing
Session Plan 2
Definition, general concepts, and scope of marketing
Session Plan 3
Selling; Marketing environment
Session Plan 4
Industry and competitive analysis; Analyzing consumer buying behavior
4. Industry and competitive analysis; Analyzing consumer buying behavior
Session Plan 5
Industrial buying behavior
Session Plan 6
Pharmaceutical market
Session Plan 7
Quantitative and qualitative aspects
Session Plan 8
Size and composition of the market
Session Plan 9
Demographic descriptions and socio-psychological characteristics of the consumer
9. Demographic descriptions and socio-psychological characteristics of the consumer
Session Plan 10
Market segmentation& targeting
Session Plan 11
Consumer profile; Motivation and prescribing habits of the physician
11. Consumer profile; Motivation and prescribing habits of the physician
Session Plan 12
Patients' choice of physician and retail pharmacist
Session Plan 13
Analyzing the Market; Role of market research
Session Plan 14
Product decision
Session Plan 15
Classification, product line and product mix decisions
15. Meaning, Classification, product line and product mix decisions
Session Plan 16
Product life cycle, product portfolio analysis; product positioning
16. Product life cycle, product portfolio analysis; product positioning
Session Plan 17
New product decisions; Product branding
Session Plan 18
Packaging and labeling decisions
Session Plan 19
Product management in pharmaceutical industry
Session Plan 20
Promotion Meaning and methods
Session Plan 21
Determinants of promotional mix, promotional budget
Session Plan 22
An overview of personal selling, advertising, direct mail, journals
Session Plan 23
Sampling, retailing, medical exhibition, public relations
Session Plan 24
Online promotional techniques for OTC Products
Session Plan 25
Pharmaceutical marketing channels
Session Plan 26
Designing channel, channel members
Session Plan 27
Selecting the appropriate channel
Session Plan 28
Conflict in channels, physical distribution management
Session Plan 29
Strategic importance, tasks in physical distribution management
Session Plan 30
Professional sales representative (PSR)
Session Plan 31
Duties of PSR, purpose of detailing
Session Plan 32
Selection and training, supervising
Session Plan 33
Norms for customer calls, motivating
Session Plan 34
Evaluating, compensation and future prospects of the PSR
Session Plan 35
Pricing
Session Plan 36
Importance of Pricing
Session Plan 37
Objectives, determinants of price
Session Plan 38
Pricing methods and strategies, issues in price management in pharmaceutical industry
Session Plan 39
An overview of DPCO (Drug Price Control Order)
Session Plan 40
NPPA (National Pharmaceutical Pricing Authority)
Session Plan 41
Emerging concepts in marketing
Session Plan 42
Vertical & Horizontal Marketing
Session Plan 43
Rural Marketing
Session Plan 44
Consumerism; Industrial Marketing
Session Plan 45
Global Marketing
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