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Archive of Answers
Q. Why is branding of any relevance
in pharmaceutical marketing?
A. 'Branding' is something which happens in the heads
and hearts of our target audience whether we like it or not, irrespective
of the industry or market place we play in. Pop stars and politicians
for example, are 'brands' in their own right. Apparel, consumables,
and yes pharmaceuticals are all potential brands. In fact some investigation
indicates that people are more likely to form a greater set of beliefs
and perceptions around products which they ingest, (be this food,
beverages and of course medication), compared with other items.
Some circles within pharmaceutical management believe that branding
has no value to the industry. Fact is 'branding' is happening to
YOUR product anyway. The result being either a strongly differentiated
brand or one which is weak. The choice marketers need to make is:
are you going to actively engage in the process and pilot your product
into a strong brand where you want it to go strategically, or are
you going to let the market place do this for you?
Q. What IS branding?
A. Simply put 'branding' is all about what people think
and believe about your product. People are going to form beliefs
and opinions based on the input they receive from any source, whether
you have actively managed this input or not. With time this 'halo'
of beliefs and attitudes consolidates, based on personal or referred
experience, into what we call a brand's character. It makes business
and strategic sense to manage this process, to ensure that your
target audience engage with your brand in the way in which you intend.
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