Niche Marketing of Mankind Pharma
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NIC HE M ARKET ING POLICIE S AD OPTED BY MANK IND PHARM A LTD .
INDEXSr.No. Name of chapter
Page no6 16 18 34 45 52 59 61 63 65
1. Introduction 2. Objectives of project 3. Company profile 4. Marketing mix 5. Research methodology 6. Data analysis and interpretation 7. Recommendation of the study 8. Conclusion 9. Bibliography 10.Annexure
Marketing in Pharmaceutical IndustryMarketing management is the practical application of this process. Pharmaceutical industry plays an important role in building a strong human capital for the country. The importance of the pharmaceutical industry in the healthcare sector as well as the global economy has been increasing rapidly. The pharmaceutical marketing is different from consumer marketing, as in this the products are usually not chosen by the consumers for there convenience, but it is given by their consultant on their health complaints. Pharmaceutical marketing involves selling of drugs and medicines to qualifies person who has the basic knowledge of medicines Selling, consumer goods are quits easy, and involve less risk, but pharmaceutical marketing involves selling of medicines that too through a mediator (doctor) to the consumer
1.1 Classification of Pharmaceutical MarketingPharmaceutical marketing is done in two ways1.) Ethical Marketing / Prescription based marketing. 2.) OTC(Over the counter) marketing.
1. Ethical Marketing / Prescription based marketing:In pharmaceutical marketing, goods (i.e. medicines) are not sold directly to consumer but through Physicians / doctors who prescribe the drugs to the patient. Physicians are perhaps the most important players in pharmaceutical sales. They write the prescriptions that determine which drugs will be used for the patient. Influencing the physician is key to pharmaceutical sales. Ethical Marketing involves influencing the physician. In Ethical marketing importance is given to prescription selling, target customer here is physician who is qualifies enough to decide which medicine is better for his patient.
2. OTC Marketing:The OTC stands for 'Over the Counter', which means the direct selling from the chemist counter without any suggestion or the prescription of the physician. The drugs included major in this category are the, Analgesics (Pain Killers) Antipyretic (For Fever.) Most of the patients to save physicians fees do this type of treatment but it is ethically wrong because they don't understands the MOA (Mechanism of Action) and also the side effects of that drug.
1.2 Launching of the Pharmaceutical Products in Market:Pharmaceutical marketing is the most challenging in today's world as it is approaching the millennium. Today's pharmaceutical market is complex and multinational with products primarily aimed at the maintence and improvement of people's health. Historically, this was done with large pharmaceutical sales forces. More than 10,000 sales force-Large Scale Organisation Less 1,000 sales force- Small Scale Organisation (Sales representative) meet to the physicians regularly providing information and free drug samples according to the companies policy to the physicians. This is still the approach today. As the competition is becoming stiff and due to entrance of new players in pharmaceutical market, making call to physicians is not sufficient. Today each and every pharmaceutical company is giving importance of the aggressive marketing along with the Productive call in the doctors chamber of the medicinal product. Aggressive marketing of the means providing the proper services to the doctor, chemist & also take care of patients. Pharmaceutical marketing is stand on four pillars of, Doctor, Chemist, Distributor, & also on Patients.
1) Physician:Physician is the person who prescribes the drug and is well aware of the medicinal value of the product.
Retailer who makes availability of the prescribing product & also providing the guidance in the proper selection of doctor and about molecule to promote in doctor chamber.
3) Distributors :Distributor makes the proper availability of stock from company for the proper distribution in the territory chemist and helps in selection of area or town to be covered.
4) Patients :Patients these are the direct and end users of the products. So these are so important. Company will provide the medicines at the most economical rates for patient' Conveniences.
Pharmaceutical CompanyD O C T O R S / P H Y S I A N C H E M I S T / R E T A I L E R D I S T R I B U T O R P A T I E N T
1.3 Promotion of Pharmaceutical Product:The process of convincing the doctor also providing the information to retailer about the5
product and doctors promise for product and taking order and give to the stockiest make product available for the patient convenience is major duty of the medical. Some of the techniques adopted by Pharma Company's are Steps of promotion of pharmaceutical product. Special comp nigh for some product Targeting the Physicians for particular Molecule Meeting to the physician. Sampling. Giving a regular follow-up Providing informative literature. Arranging Doctor's meet. Giving gifts as token of gesture. Advertisment of the product in books, journals and magazines used by the physicians. Participate in medical conference.
1.4 CONCEPTUAL FRAMEWORKBefore starting the main project it is necessary to yet analytical with certain concepts so that it helps to get better understanding of the project following are some of the concept used in the project.
1) PHARMACY:Pharmacy is defined as "The art of preparing and dispensing medicines and embodies the knowledge and skill requisite to carry them out in practice."
2) DRUG:According to WHO "A drug is any substance or products used or intended to be used to modify or explore physoplogical system or pathological state for the benefits of the recipient."6
3) BULKDRUG:"Bulk drugs are active or inactive ingredients used in the manufacture of finished dosages drugs products".
4) COMPOUNDING:Compounding is defined as "Produce a dosage form of drug other than that manipulation that is provided for in the directions for use on the labelling of the approved drug product, for example, the reconstitution of a sterile powder with sterile water for injection.
5) PHARMACIST:The Person licensees and have operating in conformity and dispensing in response to a valid prescription.
1.5 Present Scenario of Pharma Companies :Since independence Pharma industry is contributing towards Indian economy. But with the major shift in the economy policy i.e. 1991 they are contributing even more than before form a long period of India Pharmaceutical companies are giving a good contribution through Ayurved, Homeopathy, allopathic etc. After independence public sector and private sector Pharmaceuticals companies were the main source of medicines every year for its people. Now Pharma companies are growing year after year. Previously the Pharma field was relatively unknown to common people, now with the progress in the pharmaceutical field people are paying more attention towards this field, because of the lucrative offering made by the Pharma companies. The change this field can be gauged from the education in the field of pharmacy. Now many student are diverted towards the pharmaceutical field of pharmacy. Now many students are diverted towards the pharmaceutical field and the government is also supporting by way of providing quality education and other facilities and by opening new colleges that this field grows by leaps and bounds. Future in this field has become very bright. It is under constant focus of the people. Now the Indians are giving more attention towards this field. Since India has second largest population7
of the world there will be steady increase in demand for the pharmaceutical products. In India per capital expenditure III drug is very low as compared to the international standards. India as per capital expenditure of US$-3 against US$-4l2 in Japan and US$-222 in Germany and US#-91 in US. This is not very surprising considering the low literacy level in India. With improvement in literacy level and health consciousness, the consumption of pharmaceutical product is bound to increase. In past 2005 scenario companies will enjoy the benefit for launching the specialized product without fearing about the benefit for launching the specialized product. The need for the specialized product is expected to increase with the changing demographic and disease profile. This is due to increase in income level and changing lifestyle and improvement in health infrastructure. The market or the companies will grow as they will enter that area to wide extent. At present there exist wide disparity in terms of medication and health infrastructure of the sectors. In urban areas nearly 26% of the population is yet to get the maximum medical coverage to the extent of 67% in the rural sector, which forms 76% of the population. Population is getting increased gradually, meaning immense potential for these companies. According to a study the annual pharmaceutical consumption in India is expected to increase US$ 13.3 billion by 2006, which was just US$ 2.8 billion in the year 1996.
1.6 Product Promotional Pattern8
In classification various techniques are used to promote and sell a pharmaceutical such as TV advertising, distributing broachers, regular visits by medical representative, gift and sample distribution. An ethical drug first has to be approved and recommended by a physician and then sold to the patient or consumer, through medical stores, non ethical or patented products can be directly sold to the consumer through persuasive advertising through various media such as newspaper, magazine, r