“A specific brand in the pharmaceutical arena is not merely the ‘name’ of that product rather it is a ‘value’ which that product has for both physicians and patients.”
Now, the point is – why does a pharmaceutical company need correct brand management?
Instead, when a particular pharma product is already available in the market, then why this extra effort? Well, the basic idea behind pharmaceutical brand management is to ensure that marketers choose that product repeatedly. It is based on this aspect that online format is crafted as well as a brand is reinforced.
Now that you are already scrolling, it is time for you to note some other specific reasons which make brand management a necessity in today’s times.
Pharmaceuticals and brand management – A reality
Thought #1: Brand images only matter when purchase decisions are entirely ‘emotional’ or ‘irrational’. They got nothing to do with experienced customers or benchmarked studies and objective data!
Reality – This is gravely WRONG! A particular brand is successful since its clients believe in it, and hence, it is the responsibility of the concerned brand to maintain their market standards.
In the overall process, there can be an ‘emotional connection’ of a brand with its clients. However, every pharmaceutical profile has specific positives and negatives over its competitors. Now, if a concerned buyer would know of the brand name, its chemical composition and clinical data, then a brand automatically gets the upper hand.
In this manner, a buyer can take a rational decision, based on an objective or subjective idea.
Thought #2: Brand Management has nothing to do with the central technical planning of the company. A brand is merely a trademark, logo, and design!
Reality – This is another myth that has been propagated over time. Most people outside this domain feel that branding is merely a sales prerogative and it has nothing to do with basics of that product.
The truth, on the contrary is – if all the functions in an organisation are not working or aiming at the same goal of providing the promised value to a client, then the latter would not believe in a product.
The idea, therefore, is assessing the potential of a product and anticipating client’s needs which everyone in a company must fulfil. To deliver the promised is the key!
The idea is: Differentiate that product and create a distinctiveness about it. Also, inject that product with a certain amount of presence and rest assured, with consistent push-ups that brand would remain at the top through its lifecycle.
The way forward
Whenever a product is launched in the market, the target is to create a sense of belonging with that. Pharmaceuticals is a sensitive issue, and one needs to confront it with a specific attitude. Therefore, the prime aspect of pharmaceutical brand management is the attitude with which one markets their product.
Thus, the aim must be – affinity with users and creating a strong sense of belonging with that product. Does anyone recall Taylor Swift singing – ‘You belong with me?’ Now you know why the song was such a rage! Happy branding!