In our weekly Trends that Matter series, we provide engaging infographics from healthcare influencers to highlight general trends affecting the pharmaceutical industry. This week's featured topic is brand marketing.
A marketing plan is essential for pharma manufacturers to create greater brand loyalty and sales. According to Steven Seget, Principal at Delphi Pharma:
"Pharmaceutical companies need to clearly define the value that their brands have in the marketplace above-and-beyond that of the competition. Only by clearly defining and managing that value can they begin to build and leverage brand equity moving forward."
In order to communicate brand value, pharma marketers must conduct in-depth market research. According to Pankaj Agrawal, Founder and Director at MedHawker, a comprehensive brand marketing strategy typically includes the following stages:
- Forecasting and budgeting
- Product development
- Brand development and planning
- Launch preparation
- Pre-launch marketing activities
- Launch activities
- Post-launch activities
- Brand health studies
- Product backbone analysis
View the graphic below, created by MedHawker, to learn more about the activities involved in a successful pharmaceutical sales and marketing strategy.
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