Marketing Process In Pharma Industry Final

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1 Marketing Process In Pharma Industry Presented by: A 19 Tarun Rochwani Mahakal Institute Of Management Tarun Rochwani MIM, Ujjain

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2 INTRODUCTION Today marketing is based around providing continual benefits to the customer, these benefits will be provided and a transactional exchange will take place. The Indian Pharmaceutical Industry today is in the front rank of India’s science-based industries with wide ranging capabilities in the complex field of drug manufacture and technology. A highly organized sector, the Indian Pharma Industry is estimated to be worth $ 4.5 billion, growing at about 8 to 9 percent annually. It ranks very high in the third world, in terms of technology, quality and range of medicines manufactured. Tarun Rochwani MIM, Ujjain

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3 PHARMACEUTICAL MARKETING IN INDIA The Indian pharmaceutical industry came into existence in 1901, when Bengal Chemical & Pharmaceutical. Company started its maiden operation in Calcutta. The Indian Pharmaceutical sector is highly fragmented with more than 20,000 registered units. The leading 250 pharmaceutical companies control 70% of the market with market leader holding nearly 7% of the market share. Tarun Rochwani MIM, Ujjain

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4 TOP PHARMACEUTICAL COMPANY IN INDIA Ranbaxy Laboratories Dr.Reddy's Laboratories Cipla Sun Pharmaceuticals Lupin Labs Aurobindo Pharma Glaxo Smith Kline Tarun Rochwani MIM, Ujjain

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5 NEED FOR PHARMACEUTICAL MARKETING Increased competition and shortened window of opportunity. Low level of customer knowledge (Doctors, Retailers, Wholesalers). Poor customer acquisition, development and retention strategies. Varying customer perception. Very high territory development costs. Tarun Rochwani MIM, Ujjain

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6 Virtually no mechanism of sales forecasting from field sales level, leading to huge deviations. Absence of analysis on the amount of time invested on profitable and not-so profitable. Customers and lack of time-share planning towards developing customer base for future markets. Cond … Tarun Rochwani MIM, Ujjain

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7 PROCESS/ SUPPLY CHAIN Tarun Rochwani MIM, Ujjain

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8 MARKETING STRATEGY Promotional strategies Co-marketing. Involvement marketing. Extra-value strategy. Medico-marketing. The right media mix strategy. Defense strategies Tarun Rochwani MIM, Ujjain

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9 Other Marketing Tools To health care providers. Free samples. Continuing medical education. Peer influence- Key opinion leaders Colleagues Journal articles. Tarun Rochwani MIM, Ujjain

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10 MARKETING REPRESENTATIVES Medical sales representatives are a key link between medical and pharmaceutical companies and healthcare professionals. Typical work activities- Arranging appointments with doctors, pharmacists and hospital medical teams, which may include pre-arranged appointments or regular 'cold' calling. Making presentations to doctors, practice staff . Organizing conferences for doctors and other medical staff. Tarun Rochwani MIM, Ujjain

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11 Contd … Building and maintaining positive working relationships with medical staff and supporting administration staff. Managing budgets, keeping detailed records of all contacts and reaching (and if possible exceeding) annual sales targets. Keeping up with the latest clinical data supplied by the company and interpretation. Monitoring competitor activity and competitors' products. Maintaining knowledge of new developments in The National Health Service (NHS). Tarun Rochwani MIM, Ujjain

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12 CHALLENGES Highly expensive. Expensive research and development practices. The competition. The number and the quality of medical representatives. Busy doctors giving less time for sales calls. Poor territory knowledge in terms of business value at medical representative level. Tarun Rochwani MIM, Ujjain

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13 CONCLUSION Tarun Rochwani MIM, Ujjain

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Tarun Rochwani MIM, Ujjain 14