Pharmaceuticals Marketing carries out the marketing, promotion, sales and distribution of imported and contract manufactured pharmaceuticals for mass and niche markets and health-based personal care products.
Pharma marketing refers to the marketing of drugs and medical devices by private and public organizations to doctors, clinicians and consumers.
With the average person spending $1,000 on drugs a year, marketing is a top priority for the major players in the pharmaceutical industry. With so much spending involved, most companies understand the great role and importance of marketing in pharma.
But what makes pharma marketing so important?
Well, marketing is now the key driving force behind shareholder value. More specifically, marketing enables pharma companies to identify, anticipate and provide solutions for customer requirements.
At the same time, marketing is not always seen as a priority for pharma companies which is why professional marketers are often required to take responsibility for pharma branding and for the ROI on investment.
While many people continue to view pharmaceuticals as commodities, marketers know that branding is the only way to help differentiate these companies from each other.
In this Ratel Health , we take a look at pharma marketing and what enables some pharma companies to stand out from the crowd.