PHARMACEUTICAL MARKETING

GUIDED BY: VRUSHALI PUDKE

PREPARED BY : VIKRAM G. MATHARIYA(B.PHARM 4 TH YEAR , 7TH SEM)

INTRODUCTION

The term ‘market’ may be defined in terms of gaps that separate parties to an exchange.

These gaps can be described in terms of different dimensions: spatial , time , perception , ownership , value , quality etc.

Marketing is perhaps the most important aspect of modern business management.

A market analysis and research are vital for modern business.

Pharmaceutical marketing do not differ from general marketing and both are based on the same principle.

However , in case of pharmaceutical products consumer is left with little or no choice of his own in the selection of any drug product.

The decision is made by physician.

Pharmaceutical marketing, sometimes called medico-marketing or pharmaceutical marketing in some countries, is the business of advertising or otherwise promoting the sale of pharmaceuticals or drugs.

Many countries have measures in place to limit advertising by pharmaceutical companies.

Pharmaceutical marketing or drug advertisements are governed by the Drugs and Magic Remedies (Objectionable Advertisement ) Act.

1. FUNCTIONS OF MARKETING 1. BUYING2. SELLING3. TRANSPORTATION4. STORAGE5. FINANCING6. RISK TAKING7. MARKETING INFORMATION8. STANDARDISATION AND GRADING

2. BUYING AND SELLING Buying and selling are also called the ‘Exchange

functions’. Markets are people with money and the

willingness to spend it. Market is also defined as the aggregate demand of

the potential buyers of a commodity or service. Market can be classified on a characteristic

common to a group e.g. Cosmetic market, luxury cosmetic market, etc.

Evaluation of consumer for prescription drugs must include the following characteristics

i. The popular imageii. Sexiii. Martial statusiv. Geographical location and migration trends.

The willingness to buy is market demand. Drugs market is different from the market of other

commodities in the sense that in drugs market buying is directly influenced by physician and hence the physician becomes the decision maker.

A physician decides what to prescribe but not what to buy.

Thus he selects the product for his client based on their effect , safety and price.

Physicians get the product info through advertisements, sales representatives , promotional literature supplied by the manufactures and through their colleagues.

Thus salesmanship and advertisements play the most imp role in influencing the physician i.e. the decision makers in drug.

3. TRANSPORTATION It means movement of goods from thr points

of production to the points of consumption.

MODES OF TRANSPORTATION:1. Railways : Widely used Used for bulk transport Low cost of transport Covers long distance Less time consuming2. Motor carriers : Costlier than railway Can made delivery at any corner Loading and unloading can be done at any hours. Easy and timely Of these Trucks - Most popular3. Waterways : Not much popular in India Slowest mode of transport4. Air transportation : Most speedy Safe Costly Used to a limited extent Used for exporting drugs.

4. STORAGE

Storage is governed by various factors like Contamination by dust , Microbes, and deteriorationby humidity , temperature etc.

Many times raw materials are oxidized by oxygen.Reasons for storage:1. Finished products are to be stored till the time of their

distribution or sale on demand.2. For gaining higher commission by wholesalers and

retailers.3. Some drugs are seasonal e.g. Antidiarrheal4. Thus raw materials and drugs vary in their requirement of

storage conditions and hence storage facilities should be provided accordingly.

5. FINANCE Any business transaction is performed

between two parties and involves receipt of a benefit in shape of cash , goods of services , or the imparting of such benefit.

Thus it becomes necessary to categorize any business transaction as to whether it results in the receipt of a benefit or the giving of a benefit.

Accordingly each amount is divided into two sections and written on a particular side of the account

6. CHANNELS OF DISTRIBUTION

• 7. FEEDBACK The essential elements of a communication system are

a message , a sender and a receiver. To be effective , a marketing communication must get

into a buyer’s perpetual field and into focus . In face to face communication each person in the

system is both encoding and decoding at the same time.

The advertiser faces a more difficult communication task because he is cut off from feedback.

As a consequence he may be weeks, months or forever removed from feedback from his intended receivers.

good promotion management as an integral part of marketing recognizes the need for feedback and tries to create flow of information back from the market place in order to evaluate and improve communication.

Feedback is a part of the complete communication system as shown :

THANK YOU !