Many Types of Sales in Pharmaceutical Sector, MARKETING STRATEGIES OF PHARMACEUTICAL INDUSTRIES. When you launch a pharmaceutical unit, it should be clear that the rules of the game are different here. You can’t follow the concepts of conventional marketing. Like other Businesses, you don’t approach to the end customer. Sales in Pharmaceutical Sector must be done to the doctors who will prescribe your products. Also, you need to have a close interaction with the distribution channel. Whether you are a generic company or branded one, or a PCD; the rules are the same. The blog talks about several marketing strategies prevailing in the pharmaceutical market.

How to Market Pharmaceutical Products
The main reason that pharmaceutical companies buy print advertising is to promote their products; you need to create a brand image that differentiates your products from the other pharmaceutical companies out there. Companies who lack brand identity often lack a large amount of the consumer’s trust, making them prone to generic advertising, which is a huge issue in the industry. They also create an unappealing image for the market, thus discouraging those consumers who are looking to purchase the product.

You will need to develop a brand image by placing your name out in the public’s eye. You will create a name by having appearances at many different functions that are perhaps less formal, or those companies that are not as prominent or well-known in the company.

Different type of markets and different types of ways of work is followed by pharma companies. Even there is difference in considering – primary customers. Few well known marketing and sales types are:

Generic Marketing

Prescription (Ethical/Branded) Marketing

PCD/Franchise Marketing

OTC marketing

Hospital Supply

Pharmacy Chain Supply

Online Pharmacies

GENERIC MARKETING
In this, your primary customers are retail counters or stockiest. Here, you get bulk business. The margin is minimal, but you get the benefit of volumes.

In this case, not much emphasis is given to market the products to patients or doctors. The channel partners are the people who convince about the products to the end customers.

Branded Marketing:
Doctors are matter of prime concern. Pharma companies may target is to prescribe its brand from doctors. There is little concentration require for patients and distributors. Chemist is also matter of concern because they can substitute your brand with similar product. That is the main reason for heavy price for branded products because they don’t consider the patients aspect in it. In recent time DPCO regulate prices of medicines.

FRANCHISE MARKETING OR PCD PHARMA
In the Franchise or PCD pharma marketing, distributors and franchise are the targeted audience. The whole marketing strategy is built around these entities.
Since the price of the products largely depends on the product cost and channel margin, a highly marketed product is sold at soaring rates.

OTC (Over The Counter Products) Marketing
One another type of marketing pharma Companies follow is OTC i.e. over the counter products. Not all pharma products can’t be promoted by this way, but cosmetics or pain or skin preparations – mainly be promoted as OTC products by companies. Marketing strategy mainly involves advertisement and promotions – as other sectors company’s do. Read more about Over the Counter Products (OTC)

In last few years, one main change in pharma sector’s marketing strategy was – directly supply to big hospitals, Government hospitals and chemist chain’s stores, online pharmacies etc.

Hospital Supply
Hospital’s chain promotes the interest of pharmaceutical companies toward directly supply to big hospitals. Government’s motto to provide easy and cheap medicine to poor people also inspire Pharmaceutical companies to supply and quote lowest prices to government for procurement of proper and effective medicine to general public. But low rates and easy availability of medicines doesn’t provide any benefits to patients.

Pharmacy Chain Supply
Pharmacy chain may be popular or successful in metro cities or some areas but concept doesn’t provide strength to pharmaceutical sector and doesn’t inspire other corporate houses to come in this business.

Online Pharmacy Supply
Online Pharmacy concept is becoming popular in India. Online Sales in Pharmaceutical Sector also has become a good opportunity to sell medicines in Pharmaceutical Sector. But supplying medicines are subject to Registered Medical Practitioner’s Prescription so prescribing medicines from doctors is also necessary for selling medicines online. OTC products could be sold out without doctor’s prescription.