An emperical anlaysis of digital marketing in pharma
industry
Rationale of the study
It's no longer enough to just connect well with the physicians.
Great marketers effectively engage with all stakeholders (physicians, pharmacists,
payers, patients, care givers) all along the customer journey.
Engagement goes beyond just marketing communications –it's about every interaction
we have with customers and requires an integrated cross-functional approach playing
the synergy between online and offline channels and flawless execution of all
programs and initiatives.
The concept of customer centricity has never been so critical!
Our customers are spending more and more time online. When correctly managed,
those channels can provide all the stakeholders with a personalized and measurable
experience which compliments multi-channel approach
Objectives of the study
with the project questions and the hypothesis ,the project seeks to clarity the objective thet are
listed below:
To identify the potential of Digital Media Marketing in India.
To asses if empolees consider the internet as the tool for marketing stratergy.
To recommend the ways by which company can effectively use the Digital Media for
Marketing their products
To evaluate that how Digital Media is contributing in Pharma industrial growth in
terms of Profit, Promotion, Profit, Reach, Visibility & Network building.
Methodology to be used
In this project it will revise the methodology apply in order to carry out the
Project. The different Project layers helped to structure and examine all the
parts to complete successfully the Project.
This thesis begins with reviews of literature, which are used to compare the
empirical findings. Qualitative data was collected during the interviews
performed to group of people from pharmaceutical company.
An qualitative research explores attitudes, behavior and experiences through
such methods as interviews and questionnaires during work in process to
understand an in-depth opinion from participants from the pharmaceutical
company.
Expected contribution from the study
The contribution of our research is to give a clear picture about the
pharmaceutical industry adapting the digital transformation as their
marketing strategies to retain them business
Out of all other types of businesses, the industries that are doing well is the
pharmaceutical industries. There is a need for the distributors of these
companies to alter their marketing strategies to sell their existing stock and
can also come up with new products which are useful during this pandemic
period.
During this research we have read many articles, literatures on digital
marketing, the findings of this thesis will give an idea to the new or
existing pharmaceutical companies about the digital transformation for the
promotion and sales of its open to trade products which can be used
without prescription
Limitations if any
There was indeed a need to combine personal time with the interviews,
and, also, enough time to establish contact with the participants.
The researcher understands that there are restrictions within companies
about secret or private data and told the interviews that did not need to
share internal information.
The emerging importance of digital media in business organizations is
raising the awareness of the decision makers towards this thematic. Platforms
such as Facebook, Twitter and YouTube are now a part of the businesses
communication strategies, leading to a dialogue between users/consumers and
marketers. In the pharmaceutical industry similar communication strategies are
being adopted. However, this industry and specially its marketing department are
subjected to intensive regulations due to the healthcare nature of the business,
that can suppress a quick adoption of these platforms. Moreover, in the
pharmaceutical marketing environment, the lack of official and specific
regulations for digital media creates uncertainty, which also turns digital media
implementation process into a difficult path to follow.
This project has as objective to evaluate that how Digital Media is
contributing in Pharma industrial growth in terms of Profit, Promotion, Profit,
Reach, Visibility & Network building and find out presence of the
pharmaceutical industry on digital media platforms such as Facebook, Twitter
and YouTube, and other characterize the types of digital engagement strategies
used.
To perform this project , a new methodological approach and concept
model were developed in order to evaluate the top 20 pharmaceutical companies’
presence on the selected digital media. This new methodology includes a
descriptive analysis of each digital media platform for each pharmaceutical
company, followed by a cluster analysis with a characterization of each cluster
using a crosstabs analysis.The secondary data will be collected through Internet
content,News Paper, Sales force report, Blogs on social sales force, Research
papers and PDF, Books, Journals etc
This research provides insights of how pharmaceutical companies are
organized on digital media, and clearly contributes with a framework and
methodology for future researches in this domain. Also, some of the limitations
encountered provide suggestions of how to proceed in future studies.
OBJECTIVE: This study will try to analyse the potential of digital media as a marketing tool
in countries with the following objectives: ·
To identify the role of Digital Media Marketing in pharma business ·
To identify the potential of Digital Media Marketing in India ·
To recommend the ways by which company can effectively use the Digital Media for
Marketing their products
RESEARCH METHODOLOGY:
First I will review the existing literature concerned with potential of digital media as a
marketing tool in business. Once I am through with the subject I will have a better
understanding of it. A thorough research will be conducted among the executives in the
company. The secondary data collection method was used in this research. Secondary Data:
The secondary data will be collected through Internet contents, News Paper, Sales force
report, Blogs on digital sales force, Research papers and PDF, Books, Journals etc. Sample
design The sample design includes the information about the sample i.e. the respondents who
the researcher assumed to be the true representative of the universe. In case of this research
study, the sample units were the people, with different demographic profiles, who visit and
are the members of one or more digital networking sites like Facebook, Tweeter, Orkut,
LinkedIn, etc. The sample size for this research study was 410 respondents. Although the
researcher approached more than 2000 individuals out of which almost 500 qualified to be
the target respondents. The copies of questionnaire were distributed to 500 respondents who
were the members of at least one digital networking site. After going through and screening
the filled-up questionnaires, as many as 410 were found to be complete in all respects and
hence fit for analysis. The sample area for this study was National Capital Region. The
respondents were selected on the basis of simple random sampling technique.
