Pharmaceutical Marketing

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Coarse Description

  1. 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.
  1. Eligibility: B.Pharmacy, Pharma MBA, BSc
  2. Prerequisite: Basic Knowledge on Pharmaceitical Marketing
  3. Duration of course: 45 hours of theory
  4. 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

1. Marketing

Session Plan 2

Definition, general concepts, and scope of marketing 

2. DEFINITION AND GENERAL CONCEPT OF MARKETING

Session Plan 3

Selling; Marketing environment

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

5. Industrial buying behavior

Session Plan 6

Pharmaceutical market

6. Pharmaceutical Market

Session Plan 7

Quantitative and qualitative aspects

7. Quantitative and qualitative aspects

Session Plan 8

Size and composition of the market

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

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

12. Patients' choice of physician and retail pharmacist

Session Plan 13

Analyzing the Market; Role of market research

13. Analyzing the Market;Role of market research.

Session Plan 14

Product decision

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

17. New product decisions

Session Plan 18

Packaging and labeling decisions

18. Packaging and labeling decisions

Session Plan 19

Product management in pharmaceutical industry

19. Product management

Session Plan 20

Promotion Meaning and methods

20. promotion

Session Plan 21

Determinants of promotional mix, promotional budget

21. Meaning and methods

Session Plan 22

An overview of personal selling, advertising, direct mail, journals

22. An overview of personal selling

Session Plan 23

Sampling, retailing, medical exhibition, public relations

23. Sampling, retailing

Session Plan 24

Online promotional techniques for OTC Products

Session Plan 25

Pharmaceutical marketing channels

25. Pharma marketing channels

Session Plan 26

Designing channel, channel members

26. Designing channel

Session Plan 27

Selecting the appropriate channel

27. Selecting the appropriate channel

Session Plan 28

Conflict in channels, physical distribution management

28. Conflict in channels

Session Plan 29

Strategic importance, tasks in physical distribution management

29. Strategic importance

Session Plan 30

Professional sales representative (PSR)

30. Professional sales representative

Session Plan 31

Duties of PSR, purpose of detailing

31. Duties of PSR

Session Plan 32

Selection and training, supervising

32. Selection and training

Session Plan 33

Norms for customer calls, motivating

33. Norms for customer calls

Session Plan 34

Evaluating, compensation and future prospects of the PSR

34. Evaluating, compensation

Session Plan 35

Pricing

35. pricing

Session Plan 36

Importance of Pricing

36. Meaning, importance

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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