Marketing Strategies For Pharmaceutical Industry –
A Review
Mona Kejariwal1*, Ramdas Bhat2, Preeti shanbhag3, Dr. Pradeep C. Dave4, Suraj Prakash Singh5, Dr. Shiv Kant Tiwari
1*
Associate Professor, Rd And Sh National College Bandra West Mumbai
2
Assistant professor, Department of Pharmacology, Srinivas college of Pharmacy, Mangalore
3
UG research scholar, Srinivas college of Pharmacy, Mangalore
4
Bharati Vidyapeeth (Deemed to be University) Dental College and Hospital, Sector -7, /C.B.D Belapur, Opposite Kharghar station,
Email :- davepradeep.dp @gmail.com, Mobile : 9869122025 Navi Mumbai – 400614
5
Assistant Professor School of Management Sciences, Varanasi,[email protected]
6
Assistant Professor,Institute of Business Management,GLA University Mathura-India Email- [email protected]
*Corresponding Author: Mona Kejariwal
*
Associate Professor, Rd And Sh National College Bandra West Mumbai
DOI: 10.47750/pnr.2022.13.S08.446
The scope and complexity of current pharmaceutical business practices and innovations provide managers with a broad variety of
challenges in terms of the organisational structure and management of staff. These challenges may be broken down into many
categories. The administration and expansion of distribution systems both come with significant financial burdens. The methods and
results of the pharmaceutical sector are investigated in great detail throughout this examination. The marketing tactics of pharmaceutical
companies need to be modified in order to assist their customers in making the transition from critical care to permanent care. When it
comes to promoting their products, pharmaceutical companies confront a number of obstacles. A highly regulated company will have
stringent standards, a quantity of data, and a limited yet informed audience, since these are all characteristics of highly regulated
businesses. It would seem that making false statements is a significant factor in the large number of lawsuits that are filed against the
sector. Stakeholders in the industry have less time to be ready for the introduction of a new medication. If pharmaceutical companies
want to increase product recognition, strengthen brand loyalty, and raise the perceived value of their goods beyond the narrow confines
of pricing while still adhering to industry norms of ethics, they should abandon their ineffective marketing strategies. This will allow
them to raise the perceived value of their goods without violating industry norms of ethics.
The present investigation takes into consideration the innovation of pharmaceutical business strategies as well as the use of cutting-
edge technological solutions in the effort to combat the pandemic. The growth of health care services that are facilitated by digital
technology makes it easier to maintain social distances and other types of impartiality. The proliferation of advertising for
pharmaceutical products often makes more cost-effective choices available while also disguising budgetary limits.
Keywords: Pharma Marketing, Affiliate Marketing, Social Media Strategy, Customer Relationship Management Systems.
INTRODUCTION
The pharmaceutical industry in India is the world's third-largest in terms of market size. The value of India's
pharmaceutical business is estimated to be somewhere around $50 billion. The number of countries to which India ships
pharmaceutical products is estimated to be over 200. India is a major exporter of pharmaceutical products. The
pharmaceutical sector in India is able to fulfil around fifty percent of Africa's need for generic pharmaceuticals. In addition,
they are able to fulfil forty percent of the demand in the United States and twenty-five percent of the demand in the United
Kingdom. The Indian pharmaceutical sector is responsible for satisfying more than sixty percent of the world's demand
for vaccines against measles, mumps, and rubella respectively. According to the guidelines of the World Health
Organization (WHO), more than 70 percent of WHO's vaccinations are manufactured in India. In September 2022, the
total value of pharmaceutical and other medical exports was $2052.78 million, or 6.29 percent of the total value of all
exports. During the fiscal year 2021-2022, the average index of industrial production for the manufacture of
pharmaceutical, chemical, and botanical products increased by 1.3%, reaching a value of 221.6. When compared to the
previous year's total of $24.44 billion, the value of pharmaceutical and medical exports grew to a total of $24.6 billion in
2021-2022. Between 2014 and 2018, the value of the pharmaceutical market in India more than doubled, going from $11.6
billion to $24.6 billion. This is a significant increase in market size.
PHARMA MARKETING
Pharma marketing, sometimes known simply as marketing for the pharmaceutical industry, is the process of promoting
new and existing pharmaceutical and health enterprises, items, and brands to members of the general public as well as to
those working in the medical industry. Involvement in online activities, the distribution of tests, the creation of in-depth
items, working to increase awareness of the disease among executives, providing patients with resources, hosting events
Journal of Pharmaceutical Negative Results ¦ Volume 13 ¦ Special Issue 8 ¦ 2022 3602
and gatherings for psychiatrists, medical doctors, and other medical professionals, and working to raise awareness of the
disease among executives are all examples of what this category may involve (Mackey, 2016). Alterations in consumer
tastes and behaviours, as well as enhancements in both the economy and the general state of public health, have contributed
to an increase in the significance of advertising for medicines and other health and wellness items. Without a shadow of
a doubt, the healthcare systems have been significantly impacted as a result of this influence. The current pharmaceutical
marketing framework, which takes into account the one-of-a-kind challenges provided by the dynamic nature of the
industry, enables companies to be more adaptable in the face of unpredictability (Ankush 2015). The pharmaceutical,
healthcare, and health sectors, in addition to hospitals, are all essential components of the complex web that is pharma
marketing (Lokesh, 2014). It is common practise for pharmaceutical corporations to initiate contact with healthcare
practitioners, pharmaceutical salespeople, and service providers directly. These companies, along with others that create
a variety of different clinical and medical items, often make contact with other medical services organisations or people
in an attempt to expand their customer base and ultimately their revenue. When compared to the huge diversity of other
economic sectors, the pharmaceutical industry is a bit of a shocker from the perspective of the individuals it aims to affect.
This is because the pharmaceutical industry has become more competitive in recent years.
However, the pharmaceutical industry as a whole generates numerous short-term plans with a primary emphasis on
physicians because physicians are their ideal customers and understand the effectiveness of treatment. Although most
businesses in the pharmaceutical industry are centred on the end user, the pharmaceutical industry as a whole generates
numerous short-term plans. In an attempt to stop the further spread of COVID-19, a number of state-level professional
organisations have informed pharmaceutical businesses and clinical salesperson associations that all visits by
pharmaceutical company representatives would be suspended. It is very necessary, from the point of view of marketing
pharmaceuticals, for the distribution of medical care administrations to closely comply to privacy requirements. Efforts
are now being made to accomplish this objective, and actions are being done to achieve this objective. However, in order
to achieve this objective, it is important to identify any blockages in the medical services that are created by the scarcity
of medical workers. This may be done by conducting an audit of the medical system. clients in the administrative sector,
as well as an analysis of the degree to which the services offered at these places live up to the requirements and
anticipations of the individuals who make use of them. marketing or promoting medications, diagnostic tests, and medical
counselling to patients, clinicians, doctors, pharmacies, and other decision makers operating within the healthcare
industry. Because of these recent advancements in pharmaceutical advertising, businesses are now required to implement
predictive marketing systems. These systems require massive amounts of first-party and third-party data, as well as the
know-how to mine these datasets for insights about consumer behaviour and potential roadblocks. If pharmaceutical
marketers want to generate sales that have any real value, they need to have a comprehensive grasp of the people who buy
their products in the modern day.
MARKETING STRATGIES EMPLOYED BY COMPANIES
The Indian government places a significant emphasis on advertising and public presentation (doctor persuasion and sales).
The engagement with physicians (via medical reps) has been the distinguishing element, despite the fact that doctors aren't
always happy with the product. Advertising After receiving permission to do so, pharmaceutical corporations in the United
States are going all out in their efforts to promote tranquillizers through television. They are doing a lot of advertising and
even have websites that people can visit to learn about different diseases, treatments, symptoms, and other things
associated with health care. Bozell also established a branch of Lewis Grace on the Indian subcontinent. The responsibility
for the secondary medication sales is with Bozell. It would seem that Ogilvy, Marther, and Redeffusion are all
contemplating following strategies that are quite similar to one another at the moment. To successfully close the sale with
the industry specialists, you will need expertise in the production of traditional media such as prints and works that
combine several types of media. It is possible that this will result in an improvement in the dependability of over-the-
counter drugs, the manufacture of which is getting more delicate. One of the clearest examples of the power of emotions
in business is the accomplishments of the touch treatment division of Johnson & Johnson. One of the primary reasons
why companies do research of this kind is to The scope of market research in the pharmaceutical industry in India can
range from straightforward consultations with industry professionals, retailers, and organisations that manage medical
facilities to intricate examinations of statistically significant samples of masters or corporate clinics, which reveal a
growing demand for human services.
A huge pharmaceutical business like to read news that is distributed via syndication. Companies of varying sizes
frequently spend money on C-MARKTM and ORG (Operation Research Group) board studies for a diverse selection of
brands. After the studies are complete, the data are typically saved in the memory of the organization's personal computers
(PCs) for later retrieval and analysis. They think it's wonderful that data can be acquired on demand whenever it's needed.
Despite this, the aforementioned companies do not include this information into the process of formulating a strategy for
their respective brands. The Cadila Health mentality (Zydus) places a high value on the facts, despite the fact that doing
so runs against to conventional wisdom. It is common practise for upper-level management to have regular meetings with
the overwhelming majority of brand administrators to discuss various topics, including the formulation of strategic plans.
This firm makes effective use of data, although many companies just utilise it as a protective barrier during an execution
survey or as a scholarly extreme when introducing low quick pertinence. This company, on the other hand, uses data in a
way that is beneficial.
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The findings of the marketing study are just meant to serve as a jumping off point for further, more comprehensive
activities. The limited time combination for each specific association or brand includes advertising, a personal offering,
and a clear relationship between the two parties. Due to the widespread abuse of individual offering in pharmaceuticals
through the use of medicinal agents and the limitations on marketing pharmaceutical products imposed by the FDA, there
is the potential for the role of public relations work in the pharmaceutical industry to be examined and abused. This
potential exists due to the widespread abuse of medicinal agents (Federal Drug Administration). Techniques for
Conducting Public Relations In the pharmaceutical sector in India, advertising is seldom employed as a strategy. Many
companies, especially smaller ones, incorrectly believe that all that is necessary to properly publicise a new product or
service is to issue a few press releases, attend a few meetings, and throw a launch party (Khan, 2020). The end result of
public relations is often a conversation that is on a very intimate level. It has a wide range of implications for businesses
and the workers working inside them. Cipla's primary method of communication, restorative agents, were rendered
ineffective a number of years ago, which compelled the corporation to switch to public relations strategies.
The corporation guaranteed that many of these get-togethers would take place in locations located all across the nation,
and that at any one moment, there would be no more than ten customers acting in the capacity of hosts. Because of this,
Cipla was able to successfully connect with its clients on a meaningful level. In addition, the company has benefitted from
the strategic deployment of public relations to establish an atmosphere that supports coordinated reaction communication.
This has enabled the company to better respond to unexpected events. medicine distribution There is a possibility that the
retail pharmacist may not stock the drugs that are suggested by the professional administrative representatives. A
dysfunctional vascular system is one of the possible causes. Despite the fact that distribution is generally recognised as a
crucial ability in India, many pharmaceutical marketers in the nation do not pay it the daily attention it requires. This is
despite the fact that it is a widespread expertise. Because of this factor, the distribution network has seen very minimal
modification over the course of so many years. In the past, the pharmaceutical business has enjoyed a significant amount
of loyalty from superstockists and stockists as well as merchants and C&FAs (Carrying and Forwarding Agent). As a
direct consequence of this, alterations of a strategic nature were sometimes proposed or carried out to the appropriation
action plan. Problems, if there were any, were settled amicably, and when adjustments did take place, they were often
limited to changing the number of shops that carried the product. After the All India Organization of Chemists and
Druggists (AIOCD) had trained druggists in each state, pharmaceutical companies discovered that they could prioritise
which stores carried their products based on the prominence of the store. This was a significant discovery for the
pharmaceutical industry. There have also been some more adjustments done. With the patients serving as the pivot point
of the dispersion design, each ring in the architecture might be conceptualised as a link in a chain. It is essential to take
note of the fact that some rings have a propensity to pass the one that is following them. Some businesses, for instance,
collaborate directly with shops; but, when it comes to high-end items that must be flawless, only specialists are consulted
for assistance. Companies such as Hoechst, Sarabhai, and Sandoz (Novaratis), as well as Nicholas Parimal, have been
responsible for several inventions in the past.
ADDITIONAL STRATEGIES
Search Engine Optimisation
The process of increasing the visibility of a website in search engine results is referred to as search engine optimization
(SEO). The end objective of this strategy is to generate more clicks on the website. At least in the present markets, rising
to prominence may be achievable via the execution of a well-thought-out strategy that requires time; the impacts that
manifest throughout this period of time are often those that remain in place for an extended period of time. Awareness
campaigns that focus primarily on digital platforms are gaining popularity in the pharmaceutical business. Visit this
website if you need additional information about SEO for firms in the pharmaceutical industry.
Direct Sales
Even in this day and age, many businesses rely on the tried-and-true strategy of dispatching salesmen to certain regions
of the globe in order to attract new clients. There is no way around the fact that this remark is accurate in the business-to-
business pharmaceutical sector, where face-to-face interactions are still an essential component of making business
transactions. This non-marketing strategy is all about providing instructions for locating and employing salespeople who
have previously shown that they are competent of selling things in markets that have not yet been established but have the
potential to be successful (Patel, 2014).
Affiliate Marketing
One example of a performance-based marketing approach is affiliate marketing, in which a commission is given to one or
more affiliates for each visitor or customer brought in by the affiliate as a result of the affiliate's own marketing efforts. A
main objective of an affiliate programme is to increase sales while simultaneously reducing the amount of unused
marketing expenses; this is the method by which affiliates get paid for their work.
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Email Marketing And List Building
Email marketing has developed into one of the most effective strategies for businesses operating in the rental sector. It is
possible for firms to generate cash by renting out their email lists to other businesses. The latter's clients will then have
access to the email list's subscribers, which will increase the likelihood that the clients would purchase the renting
company's products.
MARKET SEGMENTATION
Because people's ages, incomes, levels of education, and other life experiences vary, not all members of a target market
will have an interest in a certain product or react to a particular marketing message. You are able to tailor your messages
and campaigns to a highly specific fraction of your audience if you use smart segmentation. Creating buyer personas is a
great initial step since it will help you home in on the precise sort of individuals you should be writing for and will save
you time in the process. Consider the concept of lifecycle targeting, which entails communicating with individuals at
certain times throughout the purchasing process.
Product and Service Positioning
It is common practise for companies to make offers that are equivalent to those made by their rivals in the industry. This
is the case regardless of whether a rival offers their products and services physically or just online. You may be able to
separate yourself from the competition by carefully placing your products and services, in addition to the brand of your
firm and its unique selling proposition (USP).
Brand Development
The reputation that a corporation has among the members of its ideal customer base is the firm's brand. A company could
use a brand strategy in order to differentiate itself from their competitors. A product or service's brand is more than simply
its name, slogan, design, or symbol; rather, it is the sensation that is widely recognised as being connected with that
product or service. Before developing any plans for how the brand ought to be seen in order to accomplish its objectives,
effective brand management starts with an analysis of the market's current understanding of the brand in question.
Online/Offline Value Proposition
To differentiate oneself from the competition and bolster the argument that lies underneath it, one must give a value
proposition that is more than just a basic list of the benefits enjoyed by customers. In addition to this, it acts as a catalyst
for the production of content and the distribution of messages that are strategically aligned with the audience that is meant
to receive them; in this way, it provides all marketing communications with a purpose (Fickweiler, 2020).
Content/Inbound Marketing
Content marketing is the practise of creating and disseminating content with the goal of informing a specific audience
about a certain product or service and its benefits, as well as the answers to questions that audience members may have.
The content may also be designed to answer questions that audience members may have about the product or service.
Similar to the process of product or market development, content marketing is an effective strategy for acquiring new
consumers and keeping the ones you already have. When expanding into new markets, content marketing, also known as
inbound marketing, may be of assistance with product positioning, brand awareness, and lead creation (Lin, 2020).
Social Media Strategy
Social media platforms provide a highly engaged audience that can be targeted in both organic and paid methods, making
them well suited for the effective execution of advertising campaigns. As part of the process of social media optimization,
components such as sharing and commenting sections are added to the websites of businesses. This kind of approach
might centre on the social media platform that your ideal customers spend the most time on, or it could be expanded to
include all of the major social media platforms, such as Twitter, LinkedIn, Facebook, and Instagram.
CURRENT TRENDS
A cohesive plan for marketing and making sales in both online and traditional settings. It is becoming more apparent that
a sizeable portion of the efforts made by pharmaceutical marketers will need to take place on digital channels. This is very
necessary in light of the fact that physical interactions are becoming less common, as well as the fact that medical
professionals are becoming more used to and inclined to favour the use of digital channels for the exchange of information.
What was obligatory in the past is becoming into something more flexible (Lotfi, 2016).
The primary management of client interactions via the use of CRM tactics with a digital focus (CRMs). Traditional close
loop marketing techniques are still widely used by many of India's leading pharmaceutical companies. Salespeople use
these techniques to plan call routes, mark their geo locations, and keep track of expenditures and comments. Traditional
close loop marketing techniques are still widely used in India. It is essential to enable and track communications via phone
calls, video calls, text messages, emails, and messaging apps like WhatsApp in light of the fact that the majority of
conversations and interactions with customers in the future will take place online and/or remotely. Given this, it is
imperative that businesses enable and track communications via these channels (Lokesh, 2014).
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new benchmarks for efficient performance. Historically, the industry saw an average of eight to ten "doctor calls" every
day on average. The average doctor currently sees twenty or more patients every day, and it is anticipated that this number
will continue to climb as hybrid relationships (in-person + phone + WhatsApp) become the standard in the healthcare
industry. This indicates that the existing field force will be able to reach or cover twice as many medical professionals as
it did before. If sales expenditures, which are normally about 10 percent of total revenue, are carefully managed, it is
possible to enhance profits by three to five percent.
Because of the broad use of digital technologies, the number of datasets being collected is constantly going up. As a result,
there is a greater availability of data for determining the preferences of physicians on certain illnesses, degrees of patient
engagement, preferred forms of communication, and aggregate subtleties that vary according to area of specialisation and
geographic region. It may be possible to increase profits by allocating and deploying the sales staff in such a manner as to
take into account the preferences of the doctors for face-to-face as well as online contacts. However, in order to derive
intelligence from datasets, they will first need to be standardised and organised in a manner that is conducive to the
development of effective applications (Emami 2020).
The hybrid approach, which combines physical and digital aspects, has resulted in a blurring of the lines between larger
corporations, which are frequently characterised by a sizeable field force, and smaller businesses, which typically employ
a more modest field force. This is because the hybrid approach combines both physical and digital elements. Smaller
companies are now able to compete on a level playing field with their larger contemporaries as a result of the capacity to
communicate with doctors in regions that have few or no field staff.
CONCLUSION
It is reasonable to draw the conclusion that there must be at least three parties involved in order for the process to be
successful. There are many different routes that a business alliance can take to achieve success in the market, but they all
share similarities with the routes that have been described above. The outcome of this commercial collaboration will be
determined by the interaction that exists between these three participants (organisation, customers, and rivals). On the
domestic pharmaceutical market, the ever-growing permanent sector is destined to emerge as the dominant player in the
long term. A successful career in business may be the foundation for accomplishment in any environment marked by
intense competition. In a perfect world, a company would be successful because of advantages in both price and status.
This would be an ideal world. If you want to find proof of a firm's competitive edge, you could look at either the company
that offers the rarest items or the company that offers the lowest prices in the market. Typically, the winner is the one that
comes out on top. Each stage is significantly impacted by the inventory network in some way (in acute and in addition in
chronic). The strength of a pharmaceutical company's manufacturing infrastructure is critical to the company's chances of
being successful in transitioning from the acute treatment market to the business of chronic treatment. technique of
manufacture Learning about the mobility needs of a company's customers may give managers with a wealth of valuable
knowledge that can be used to the company's operations. Account segmentation is a useful approach that may be used in
order to evaluate these needs.
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