Saint Mary’s University
3700, Bayombong, Nueva Vizcaya
SCHOOL OF HEALTH AND NATURAL SCIENCES
PHARMACY DEPARTMENT
Pharmaceutical Marketing and Entrepreneurship
First Semester, AY 2023-2024
Activity No. 1
Name: Date:
Saint Mary’s University
3700, Bayombong, Nueva Vizcaya
SCHOOL OF HEALTH AND NATURAL SCIENCES
PHARMACY DEPARTMENT
1. Instructions: In this chart, reflect on what you know. Do not worry if you are sure or not of your
answers. This activity simply serves to get you started on thinking about our topic.
Questions: What I Know
1. How do consumers Consumers or end-users typically select medications for common ailments based on a
or end – users choose variety of factors. Personal preferences, medical advice, cultural influences, and access
their medicines for to healthcare resources can all influence these factors. Symptom Recognition, Past
common ailments? Experience, Recommendations from Healthcare Professionals, Over-the-Counter (OTC),
Word of Mouth, Brand Recognition, Online Research, Cost and Affordability, Cultural
and Traditional Practices, Packaging and Presentation, Side Effect and Safety
Information, Convenience, and finally Health Insurance Coverage are some of the
common considerations that consumers take into account.
2. When is the best time The best time to sell or promote a pharmaceutical product changes depending on the
to sell or promote product. Regulatory considerations, market trends, and the nature of the product itself
pharmaceutical can all have an impact on when pharmaceutical products are sold or promoted.
products?
3. Does Pharmaceutical Yes, it can have a significant impact on the sale of a product. Pharmaceutical marketing
Marketing affect the refers to a variety of strategies and techniques used to promote prescription drugs and
sale of a certain medical products to healthcare professionals, patients, and consumers.
product?
2. Why is entrepreneurship an essential component of economic development?
Entrepreneurship is a critical component of economic development, as it fosters innovation,
drives job creation, and propels economic growth. It acts as a catalyst for change, encouraging
resource efficiency, technological advancement, and overall societal well-being. Because of its
profound impact on innovation, job creation, wealth distribution, economic growth, adaptability,
and societal transformation, entrepreneurship emerges as an essential component of economic
development. Governments and institutions must recognize the importance of assisting
entrepreneurs through education, financial access, regulatory frameworks, and infrastructure. By
encouraging entrepreneurship, nations can realize their full economic potential and pave the way
for a brighter and more prosperous future.
3. Identify a business in your area which became successful due to innovation. Write about the role played
by innovation in its success.
a. Format:
i. Name of Business: Clickers Technologies
ii. Innovative Activity:
The Immersive Customer Experience
Interactive Engagement: Customers can interact with staff to learn more and develop their own
preferences. This level of interactivity boosts engagement and empowers customers in their
decision-making process.
Reduced Risk: Because customers can 'try before they buy,' the company can potentially reduce
the number of returns due to mismatched expectations, leading to higher customer satisfaction
and cost savings.
Data Insights: The company collects data on every customer interaction. This information can be
used to better understand customer preferences, popular product configurations, and other
insights to improve their product offerings.
Future-Proofing: By adopting emerging technology, the company positions itself as an
innovative leader in its industry, potentially attracting tech-savvy customers and investors.
