CHAPTER 01
INTRODUCTION
1.1 INTRODUCTION
A successful sales and marketing plan can be the lifeblood of your company, just as poorly
conceived plan could be a financial drain and an inevitable waste of investment. There is no
shortage of „consultants‟ and „professionals‟ who will attempt to tell you how to market and
sell your business, but it’s important to know that no one can understand your business and its
obstacles better that your team. This is why it is important to understand the basic principles of
marketing and sales and its application to your business. There is, of course a time when we
should call in the cavalry and use the aid of a professional sales and marketing company to
assist in the growth of the business. By understanding the foundation of building a sales and
marketing plan, you will be able to develop a more solid strategy to achieving business success.
Performance efficacy of sales organizations are characterized as being dependent on sales
management behavior-based control strategy, sales territory design, and corporate strategic
direction. The conceptual model takes into account the strategy dimensions customers' worth
product market scope to analyze the function of strategic direction. The findings demonstrate
that the efficacy of the sales organization and salesperson result performance are significantly
correlated. They also demonstrate that the of salesperson behavior and the effectivenessS
management control technique are significantly impacted by indirect impacts.
A company that develops unique marketing capabilities and uses them in its capacity to respond
to the market intelligence generated typically resides in both the marketing department for
strategic marketing decisions and in the sales department for more operational marketing
decisions. Effective market learning capability necessitates the commitment and the effort of
both functions.
A single person's capabilities and may call for teamwork. Similar to this, the sales unit may
play a major role in carrying out marketing strategy because boundary-crossers like sales
managers and salespeople have important customer relationship management obligations.
Because of this, a company's capacity to offer more value to customers clearly depends on its
ability to coordinate and integrate the decisions and activities that both marketing and sales
people are responsible for taking.
To develop and apply marketing skills to increase customer value and acquire a competitive
edge, the marketing and sales teams must work together. Despite this, it is remarkable how
little attention marketing experts pay in regards to the connection between marketing and sales,
particularly in marketplaces where buyer-seller relationships are frequently intricate,
intertwined, and oriented toward the long term.
It was once quoted, “you don’t need marketing if you do not plan to make money”.
Marketing is a necessary component in completing your sale, in fact, survival without it is
almost impossible. People won't purchase from a company that they don’t realize exists, or will
they purchase a good or service of which they are buy ill- educated. It is your job to educate
your target audience and explain your method of interpretation.
The art of sales is defined by completing a transaction from the time you introduce your
company to a prospect, to the delivery of the finished goods and the payment for that good.
There is never been a true statement , as we live in a time where new business, ideas and thirty
second elevator pitches are becoming a commonality. As companies construct and hone their
pitch, consumers and end users create new and innovative ways to tune them out.
The technology age has succeeded in adding more effe ctive ways to sell, but has also created
additional noise in an already crowded sales channel. The challenge is to identify how you are
ten times better that your competiti
INTRODUCTION
The pharmaceutical industry develops, manufactures, and sells prescription-only
pharmaceuticals. They have an indoor and outdoor R&D office set up for this. Pharmaceutical
associations are permitted to work with nonexclusive and branded solutions as well as the
government when it comes to approving, testing, valuing, and ensuring the manufacture of
medicines. The Indian biotech industry, which is driving India's economy and is the secondlargest pharmaceuticals industry in the world, has a growth rate of 17% and earned Rs. 137
billion ($3 billion) in 2009–2010. Biopharmaceuticals, which contributed Rs. 8,829 crores or
60% of the industry's growth, were the best supporters, followed by bioorganizations at Rs.
2,639 crores and biocultivating at Rs. 1,936 crores. West Bengal's leading pharmaceutical
association.
The Sushrutasamhita, an Indian ayurvedic treatise attributed to Sushruta in the sixth century
BC, has the most precise known collection of restorative drugs. The most up-to-date protected
content, however, is from the third or fourth century A.D. India has a remarkable medical and
healthcare
history.
Sharangadaramuni
(SharngadaraSanhitha),
Charaka
muni
(CharakaSanhithalmao), and Sushrutha muni (SushruthaSanhitha) are excellent Indian
philosophers who wrote books that are healing to the world.Those two volumes are the main
sources of knowledge for ancient Indian ayurvedic practices. Numerous Sumerian (late sixth
millennium BC–mid second millennium BC) cuneiform mud tablets record pharmacological
remedies.
CHAPTER 02
INDUSTRY PROFILE
\
2.1 PHARMACEUTICAL INDUSTRY
The sector has undergone many phases over the last 30 years. Moving beyond repackaging and
formulations from imported bulk medications, it has steadily linked production with synthesis
of fundamental synthetic pharmaceuticals and antibiotics using advanced technology. These
days, India produces everything from basic headache medications to sophisticated medicines
and intricate cardiac devices that are on par with the best in the world.
The range of medications produced in India nowadays is very extensive and includes many
different therapeutic categories, such as antibiotics, antibacterials, and anthelmintics.
Antihistamines, anti-inflammatory, anti-tuberculous, and analgesics. Products for cardiology,
dermatology, general gynecology, neurology, ophthalmology, psychiatry, urology, and
veterinary use are also available. The Indian pharmaceutical sector is currently ranked third
among the most developed in the world and is one of the most technologically advanced and
well-organized among emerging nations.
In its efforts to promote better public health and the eradication and management of diseases,
the pharmaceutical sector has made considerable strides. Today's medications shield people
from early demise and protracted illness, remove the need for expensive and lengthy hospital
stays, and generally improve health and lengthen life.
The Indian pharmaceutical business is currently at the cutting edge of science-based. Industries
in the nation having a broad range of expertise in the intricate subject of drug manufacturing
and technology. India ranks among the top 15 producers in the world. drugs, and it has a high
third-world ranking for technology, product quality, and variety. The nation takes pride in
producing practically every form of medication, from straightforward painkillers to complex
antibiotics and advanced cardiac chemicals. Theindustry
2.2 HISTORY
One of the leading producers and exporters of pharmaceutical products greater than 60
countries is Med pharm, which is a piece of the US$100 million Chordia Group. Chennai, India
is home to its main office. The group consists of three companies that work in the real estate,
pharmaceutical manufacturing and distribution, and vehicle financing industries. On January
15, 1970, the medical field was developed by the pioneering Late Shri Mohanmulji Chordia, a
well-known social worker, educator, philanthropist, and recipient of the Padma Shri Award,
among the nation's highest civilian accolades.
His objective was to provide premium medications at an affordable price. The company started
out by manufacturing tetracycline and chloramphenicol tablets. The business has multiplied its
former size and become known as pharmaceutical enterprises abroad with a current annual
revenue of US$28 million and the production of over 100 drugs. The company employs 541
regular employees both domestically and abroad.
The management philosophy, business ethics, and values of the organization serve as a
compass to drive Medpharm in the right direction. The business is prepared for a significant
breakthrough in international sales thanks to its reputation for being reliable, trustworthy, and
upholding the highest standards. All of Medpharm's ERP-focused procurement, production,
planning, manufacturing, testing, dispatch, financial, and human resource systems adhere to
international standards.
`
2.3 MISSION:
● To encourage the provision of high-quality medicines at affordable prices in an effort to
advance global healthcare.
2.4VISION:
● Maintain Medopharm's position as a important participant in the pharmaceutical sector and
keep providing value-added products at affordable prices. They'll take steps to make their
business inviting. to both partners and employees. To stay competitive, adaptable, and speedy,
use cutting-edge technology to satisfy market demands and evolve with the times.
2.5 GOALS OF THE COMPANY:● To be Punctual Work to reduce absents not wasting time.
● To be Punctual at Work.
● Sorting tools and documents at right place in clean way.
●
Work effectively.
● Think constructively.
●
Judge wisely.
● Maintaining cleanliness in work.
● Increasing productivity.
2.6 SWOT Analysis:
Industry has found application for the SWTO (strength, weakness, opportunity, and threats)
study. When developing new vocational programs, the SWTO tool works well as a decisionmapping tool.
STRENGTH:
⮚ It enjoys popularity in the stock market.
⮚ Use of high-quality raw materials.
⮚ It's preserving a healthy fracture.
⮚ Easy raw material availability.
⮚ Positive working relationships.
⮚ Assistance from the state's administration.
WEAKNESSES:
⮚ Outdated technology.
⮚ There isn't a separate department for training.
⮚ Slow promotion processes inside the company.
⮚ No schemes were presented.
OPPURTUNITIES:
⮚ 0They are having good and excellent infrastructure facilities.
⮚
Low interest rate borrowing.
⮚ The business can look at exporting options.
THREATS:
⮚ Modifying governmental regulations.0 Modifying governmental technology.
⮚ The business is not more engaged in advertising.
⮚ The same rivals have added some really technical features like global views etc.
2.7 FUTURE GROWTH AND PROSPECTS:
The goal of MEDOPHARM is to become India's top pharmaceutical company. The business
works very hard to boost productivity and take the lead in the market. It consistently tries to
innovate to excel in designing and production. The company's goal for the upcoming fiscal
year is to achieve growth of roughly 40%. Additionally, it hopes to generate a revenue of
roughly 100 crores. To meet demand, the company is attempting to offer a wide range of
products:
⮚ Painkillers, antipyretics, and anti-inflammatory drugs .
⮚ Anthelmintics
⮚ Anti –asthmatic
⮚ Anti-diarrhea, protozoa, and anti-amoebiasis
The business aims to create new items that the market needs by introducing new tools and
procedures to increase both quality and quantity.
2.8 FINANCIAL STATEMENT :
Balance sheet of MEDOPHARM PVT LTD Amote in Lakhs
PARTICULAR
2018-19
2019-20
Total Share capital
9
9
Equity share capital
9
9
Share application money
00
00
Preference share capital
00
00
Reserves
144.66
130.88
Revaluation reserve
00
00
Net Worth
162.66
148.88
Secured loan
150.11
100.11
Unsecured loan
20.11
28.37
Total Debt
170.22
128.48
Total liability
342.33
276.8
Groos Block
221.76
171.61
Less:Accumulation
60.91
41.42
NET BLOCK
160.85
130.19
Capital work in progress
46.99
55.17
Investment
17.05
17.05
Inventories
105.16
98.98
Sundry debtors
85.5
3.36
Application of Funds
depreciation
Cash at Bank balance
1.85
3.36
Total current asstes
192.48
196.81
Loan and advances
45.01
56.36
Fixed deposits
3.41
3.95
Total
capital,
loansS
and 240.9
257.12
advancesS
Differed credit
c current liability
78.99
57.72
Provisions
7.62
9.44
TotalL capitall and provisionn
86.61
67.16
Net current asstes
154.29
189.96
Miscellaneous
00
00
Total asstes
379.18
392.37
Contingent liabilities
10.43
24.85
Book value
15.24
129.95
Interpretation:
Based on the business's financial accounts for 2017 and 2018, AssetsSand liabilitiesS are worth
a difference of Rs 13.19 lakhs more than they were in 2017.
When we compare 2018 to 2017, we can notice a drop as measured by FixedL AssetsS, but
when we compare 2018 to 2017, The value of all Current Assets is increasing. This is brought
on by an increase in the company's debts, a decrease in its in-store inventory, and an increase
in its loans and advances. Additionally, while the company's provisions are enhanced, the
present obligation is lessened.
2.9 GLAXO SMITH KLINE PHARMACEUTICALS LTD.,
With its corporate headquarters in Brentford, London, GlaxoSmithKline plc (GSK) is a
multinational British pharmaceutical, biologics, vaccines, and consumer healthcare
corporation. According to 2013 revenue, it was the sixth-largest pharmaceutical company in
the world as of March 2014, behind Johnson & Johnson, Novartis, Hoffmann-La Roche, Pfizer,
and Sarnoff.[3] The company was established in 2000 through the union of GlaxoWellcome
(which was created through Glaxoplc's acquisition of Wellcomeplc) and SmithKlinee
Beechamn plc (which was formed by joining Beecham Group which was made possible by
joining the Smith, Kline & French and Beckman businesses).
The business of the FTSE 100 Index and has its primary listing on the London Stock Exchange.
Its £79 billion market value as of 2 May 2014 made it the fourth-largest corporation London
Stock Exchange.[4] The New York Stock Exchange secondarily. Since May 2008, Andrew
Witty has served as the company's chief executive.
The top-selling GSK medications and vaccines in 2013 were Advair, Avodart, Flovent,
Augmentin, Lovaza, and Lamictal. GSK produces medications and vaccinations for important
illness categories such asthma, cancer, infections, diabetes, digestive, and mental health
issues.[1]:32Many medications that are now offered as generics were previously discovered or
developed at GSK and its predecessor businesses. It made £21.3 billion from its medications
and vaccines in 2013. Its consumer healthcare sector, which generated £5.2 billion in revenue
in 2013, sells over-the-counter medications, drinks, and nutritious products such Horlicks,
Boost, and Sensodyne, as well as oral healthcare products.
The highest settlement paid by a pharmaceutical corporation at the time occurred in July 2012
when GSK entered a plea of guilty to criminal charges and agreed to pay $3 billion to resolve
the criminal charges civil qui tam actions. GSK paid $1 billion to resolve charges, which
against them for pushing Paxil and Wellbutrin for unapproved uses and failing to disclose
safety information regarding Avandia. The remaining $2 billion was paid as part of a civil
settlement involving illegal promotion, the payment of kickbacks, making misleading claims
about the safety of Avandia, and Medicaid price reporting of inflated costs.
GSK made the announcement that it would discontinue paying experts for presenting at
medical conferences on December 17, 2013. The firm declared that it would continue to pay
doctors' fees for tasks that it views as essential to learning more about particular diseases, such
as carrying out company-sponsored clinical trials, providing scientific advice services, and
doing market research.
In 2010, 2012, and 2014, the Accesss to Drugs Index gave Glaxoo Smithn Klined the top spot
among international pharmaceutical firms. In 2014, the company submitted a request for the
initial malaria vaccine's regulatory approval. The vaccine was developed in cooperation
between the Bill and Melinda Gates Foundation and the PATH Vaccines Initiative. The
business has agreed to sell the vaccine in developing nations for a predetermined price of 5%.
2.10 SUN PHARMACEUTICAL LTD.
In 1983, Mr. DilipShanghvi established Sun Pharmaceuticals with five mental in Vapi drugs.
Cardiology and gastrointestinal products first became available in 1987 and 1989, respectively.
The main markets for this product right now are psychiatry, neurology, cardiology,
orthopaedics, ophthalmology, gastrointestinal, and nephrology. This is India's largest chronic
prescription drug firm.
The company will become the largest pharmaceutical company in India, the largest
pharmaceutical company in India outside of India, and the fifth-largest specialty generic
company globally after acquiring Ranbaxy in 2014.
More than 72% of Sun Pharma's sales come from international markets, particularly the US.
The US is the single largest market, with a market share of over 60% globally and formulations
or final dosage forms accounting for 93% of total sales. 26 locations are used for
manufacturing, including facilities USs, Canada, Brazil, Mexico, and Israel. The company
sells generic medications hasv a robust pipeline of products seeking FDA approval.
In a 55-fold oversubscribed offering, Sun Pharma commenced trading on the stock exchange
in 1994. A original family still holds a majority of the company's shares. Sun Pharma is
currently the second-biggest and most lucrative pharmaceutical both the biggest
pharmaceutical firm in India and by market value on the Indian exchanges. With a projected
growth of $20 billion in 2015, the Indian pharmaceutical business, which currently has a $12
billion annual turnover, would overtake manufacturer of pharmaceuticals globally. India is still
the world's 14th most valuable nation.
2.11 RANBAXY PHARMACEUTICAL
Ranbaxy Laboratories Limited (Ranbaxy), a global pharmaceutical business with a scientific
base, provides services to customers in more than 150 nations. We've been providing patients
and healthcare professionals high-quality, reasonably priced medications for more than 50
years.
Ranbaxy Daiichi Sankyo Group. Daiichi Sankyo, a renowned pharmaceutical innovator, is
situated in Tokyo, Japan.
We have physical locations in 43 countries, and our 21 There are manufacturingL facilitiesV
in 8 different nations. We cover all 25 of the main pharmaceutical markets globally and have a
sizable presence in both developed and developing countries.
2.12 PROCTER & GAMBLE
Oleo compounds are produced and sold around the globe by a division of Procter & Gamble
called P&G Compounds (PGC). Glycerine, methyl esters, alcohols, amines, fatty alcohols, and
sucrose polyesters like Sefose and Olean are just a few of the items that PGC manufactures. It
serves as a global supplier for some of the biggest chemical firms in the world. These raw
materials are necessary for many widely used consumer goods.
Oleochemical use, manufacture, and sales have served as the foundation for P&G's company.
P&G investing in industry. The implemented several modifications and capitalized on those
developments for its target markets. P&G Chemicals (PGC) was created larger P&G to
continue the company's initial commercial operations. PGC has approached the oleochemicals
industry holistically from its beginnings in the present, providing supply reliability, trustworthy
expertise, and global chemical capabilities. started making and selling the byproduct in
Cincinnati, Ohio, starting in 1837.
In 1858, P&G began producing branded items, which served as the brand's first trademark.
PGC has established additional facilities across North America, Europe, and Asia as a result of
the construction of countless others. competitive global supply chain and absorbed the majority
of the original P&G business operations. PGC manufactures a variety of oleochemicals for
companies throughout the globe and specializes in the synthesis of glycerine, methyl esters,
alcohols, amines, and fatty alcohols as well as sucrose polyesters like Sefose and Olean.
2.13 COMPANY SEEKS:
1. Forming a strategic alliance to trade growth.
2. Partners that are like-minded and They appreciate excellence, innovation, and quality as
much as you do.
3. Contract manufacturing alliances.
4. Partnerships in marketing and technology.
5. Collaboration for tech exchange.
6. Creation of novel and ground-breaking items.
7. Alliances for Contract Researc
2.14 COMPANY OFFERS
1. A large selection of high-quality items.
2. Facilities that adhere to high standards and have been endorsed by numerous regulatory
agencies, delegations from the Ministry of Health, and the WHO Cgmp,
3. The Beta Lactum facility has UK MHRA approval.
4. Facilities are strategically located to provide prompt and effective product distribution.
5. An efficient domestic distribution network.
6. Range of grains for side-by-side comparison.
2.15 NEW LAUNCHERS
MEDICLOR
MEDICLOR is CEFACLOR, a second-generation cephalosporin influenzae, E. coli, and P.
mirabilis than the first-generation drugs. 375 mg tablet, 250 mg DT, 125 mg dry syrup, and
500 mg capsules are the different dosage forms of MEDICLOR.
MEDOXIL
MEDOXIL, also known as CEFUROXIME AXETIL, is a second generation cephalosporin
renowned for its potent and aggressive antibacterial effect. It responds quickly to bacterial
infections and is highly effective against the most typical respiratory infections. MEDOXIL
comes in dry syrup, 125 mg DT, 250 mg, and 500 mg tablets.
MPOD
An interesting alternative for empirical therapy in situations of skin infection, otitis media,
uncomplicated gonorrhea, UTI infection, and RTI infection is the third-generation
cephalosporin CEFPODOXIME PROXETIL, commonly known as MPOD. It provides fair
coverage of both the gram positive and gram negative. MPOD is available as a dry syrup (50
mg/50 ml).
GEMFLOX
The sole antimicrobial medicine authorized by the USFDA against multi-drug resistant S.
pneumonia is GEMFLOX, which is GEMIFLOXACIN, a fourth generation quinolone with a
minimal risk for resistance and an improved safety profile.
CANEFO-D
Aceclofenac and Drotaverine are found in CANEFO-D pills, which are used to alleviate pain
brought on by GI cramps, binary cramps, post-surgical spasms, uterine and neck spasms,
dysmenorrhea, and the diagnosis of smooth muscle spasms.
OSTOCERIN
Ostocerin Capsule is a disease-modifying anti-osteoarthritis medicine that slows the
advancement of the illness, accelerates regeneration, and reduces the need for NSAIDS and
analgesics.
FACILITIES:
Currently, Medopharm manufactures finished generic and branded generic products in two
factories located in Chennai and Malur. A brand-new manufacturing facility is also being
constructed adjacent to our Chennai plant. Our manufacturing capacity will be greatly
increased by this facility.
As an environmentally conscious company, Medopharm continually checks each of its
production lines to ensure that neither its operations nor its byproducts endanger the fragile
ecosystem.
Each and every one of Medopharm's facilities is built with waste management, pollution
reduction, and environmental contamination prevention in mind. The safety and sanitation of
the environment are very important to us.
2.16 MALUR PLANT
The Medopharm manufacturing facility in Malur, India, spans a 2 acre area and has a total
production area of 2,100 square meters. For co-marketing, contract manufacturing for other
parties, and its own marketing as generics and branded generics, the division produces finished
dosage forms (tablets, capsules, and dry powder). Malur's state-of-the-art production plant has
gained WHO cGMP accreditation and is recognized by many major pharmaceutical companies
and clients both in India and abroad. Two shifts can make 200 million capsules and 6000
million tablet units annually. It was upgraded in 2000 and 2005.
HEPA filters that have been terminally attached are utilized to maintain the production and
primary packing facilities in a Class 100,000 environment. It also makes use of other state-ofthe-art devices that are managed by Programmable Logic Controllers (PLCs), a type of digital
computer used to automate electromechanical activities like machinery control on assembly
lines in factories. Others totally rule out the risk of contamination from any tools or equipment
by integrating metal detectors. Some devices have built-in camera systems that can spot any
empty capsules of medication. The business makes sure that the goods it produces are of the
finest caliber.
CHAPTER -03
RESEARCH AND METHOD
3.1 Research Methodology:
Leading pharmaceutical company Medopharm concentrates on producing and distributing a
wide variety of pharmaceuticals. The business is committed to giving people all across the
world access to high-quality, reasonably priced medicines. Medopharm must employ powerful
sales and marketing tactics in reach its target market and boost sales to accomplish this goal.
With particular reference to the Medopharm industry, we will go over the research methods
utilized to pinpoint efficient marketing and sales strategies for medications in this paper. We'll
start by giving a overv pharmaceutical sector and the difficulties faced by businesses like
Medopharm. Next, we'll talk about the research design, data gathering procedures, and data
analysis tactics that to uncover successful marketing and sales strategies. Finally, we will offer
our conclusions and recommendations for Medopharm results of our investigation.
3.2 An summary of the pharmaceutical industry in general:
The pharmaceutical industry is a highly regulated, cutthroat, and dynamic sector of the
economy.
The industry is characterized by high research and development costs, long Development
cycles, and significant regulatory hurdles. A lot of small and medium-sized businesses compete
against big international enterprises in this highly fragmented market.
The challenges facing pharmaceutical companies like Medopharm is the need to develop and
market new drugs. Developing a new drug can take many years and cost Billions of dollars. In
addition, the regulatory approval process can be lengthy and complex. Once a drug is approved,
companies must also invest significant resources in marketing and sales to ensure drug reaches
its target audience.
3.3 Research Approach:
This study used a qualitative research design as its methodology. Investigating the experiences
and viewpoints of people helps researchers better comprehend complicated phenomena. This
process is known as qualitative research. We chose this research design since it gave us the
opportunity to comprehend pharmaceutical corporations like Medopharm's marketing and sales
tactics in great detail.
3.4 DataA CollectionN MethodsS or Data Gathering Techniques:
Focus groups and semi-structured interviews were used as the data gathering techniques for
this study. Professionals in marketing and sales from Medopharm and other pharmaceutical
businesses participated in semi-structured interviews. To get their opinions on the marketing
and sales techniques employed by pharmaceutical corporations, focus groups with doctors and
patients were held.
3.5 Data Analysis Techniques:
The information acquired through semi-structured interviews and focus groups was examined
using thematic analysis. A technique for finding, examining, and reporting patterns in data is
thematic analysis. Using this method, we were able to locate recurring themes and patterns in
the data, which we then used to generate our conclusions and suggestions.
3.6 Findings and Recommendations:
Based on our research, we Identified several effective marketing and sales strategies for
pharmaceutical companies like Medopharm. These strategies include:
Developing strong relationships with physicians: Pharmaceutical companies should focus on
developing strong relationships with physicians to increase their trust and credibility. Regular
visits, instructional activities, and the dissemination of pertinent and helpful information can
all help achieve.
Making use of digital marketing channels: Employing digital marketing channels, such as
social media and email marketing, can help you reach a larger audience and boost consumer
interaction. Providing instructional Materials: To help physicians and patients comprehend the
advantages and disadvantages of their medications, pharmaceutical companies should offer
instructional materials to them.
Offering patient support programs: Patient support programs, such as patient education
materials, financial assistance, and access to nurse hotlines, can enhance patient outcomes and
foster patient adherence.
3.7 Statement of the Problem:
The pharmaceutical market is highly competitive, This competition has led to a complex and
rapidly changing marketplace, where companies must continually adapt their marketing and
sales strategies to remain competitive. To be able to create efficient marketing and sales
strategies for its medications, Medopharm has identified several major hurdles, including.
Increasing market rivalry from both new and incumbent firms.
Pressure to reduce healthcare costs, which can limit the ability of healthcare providers and
patients to access and afford medicines.
The need to educate healthcare providers and patients about the benefits and risks of different
medicines. Regulatory challenges, including the need changing regulations and manage risks
related to product safety and efficacy.
3.8 Points to consider:
● Target audience: Medopharm needs to determine who their intended market is for each
medicine product. This includes understanding the demographics, behavior, and the target
audience's requirements. For instance, if a particular medicine is targeted towards elderly
individuals, the marketing strategy should be tailored towards them.
● Competitor analysis: Medopharm should conduct a thorough analysis of their competitors,
including their marketing and sales strategies. This will make it easier to spot market gaps and
chances for Medopharm to stand out from the competition.
● Marketing channels: Medopharm should determine the most successful media outlets for their
medicine products. This can involve marketing on social media., online marketing.
●
Sales strategy: Medopharm should also consider their sales strategy. This includes identifying
sales channels and sales techniques. For example, Medopharm could prioritize forging
connections with healthcare professionals or offering discounts and promotions to customers.
● Compliance Medopharm is in charge of making sure that all marketing, promotion, and sales
of pharmaceutical products comply with all relevant rules and legislation.
●
Measuring success: Medopharm should establish key performance indicators (KPIs) to
measure of their marketing and sales strategies. customer feedback, and engagement on
marketing channels. Regular evaluation and adjustment of strategies can improve results over
time.
●
Medopharm can create marketing and sales plans that are successful for their pharmaceutical
products, enabling them to reach their target market, stand out from rivals, and eventually
increase sales.
3.9 NEED OF STUDY
To create a successful marketing and sales strategy for medicine in the Medopharm industry, a
thorough analysis of the market and the target demography is necessary.The following actions
can be made to out this analysis:
1. Define the target audience;The first stage is to identify the medicine's target market. This may
be the case depending on demographic factors including age, gender, location, or health
concerns.
2. Analyze the market: It's critical to comprehend the pharmaceutical market environment. This
covers elements like pricing, competition, and legal restrictions.
3.
Perform a SWOT analysis :A SWOT analysis will assist you in identifying the benefits,
drawbacks, opportunities, and dangers associated with the medication market.
4. Determine the value proposition: It is crucial to identify the medicine's special selling point and
how it responds to intended market.
5. Develop a marketing strategy: Based on the above analysis, develop a marketing strategy that
includes advertising, public relations, promotions, and social media.
6. Develop a sales strategy: The sales strategy developing relationships with healthcare providers,
distributors, and other stakeholders in the industry.
7. Monitor and adjust: Based on input from the target market and other stakeholders, evaluate the
efficacy of the marketing and sales tactics and make any necessary adjustments.
● Understanding customer behavior and needs: Medopharm needs thorough study to behavior
and needs of their customers, including their preferences for medicine products, their attitudes
towards healthcare, and their purchasing behaviors. This will help Medopharm tailor their
marketing and sales strategies to effectively target and engage their customer base.
● Analyzing competition: A comprehensive pharmaceutical industry, including competitors and
their marketing and sales strategies, will help Medopharm identify gaps opportunities to
differentiate themselves from their competitors.
● Identifying effective marketing channels: Medopharm needs to Identify the most successful
marketing channels. for their medicine products, including online marketing, social media
advertising, television commercials, or print advertising. Conducting research on the target
audience's preferred channels and media consumption will help Medopharm invest .
● Evaluating sales techniques and channels: Medopharm needs to understand which sales
techniques and channels are most effective in reaching their target audience and driving sales.
This could include building relationships with healthcare providers, offering discounts and
promotions, or using digital platforms to sell directly to consumers.
● Ensuring compliance: Advertising, promotion, and sales of pharmaceutical products are just a
few of the laws and rules that Medopharm must make sure all marketing and sales endeavors
abide by. It will be possible for Medopharm to steer clear of moral and legal hazards by
researching the regulatory landscape and compliance standards.
● Measuring effectiveness: Medopharm needs to establish KPIs to measure the success of their
marketing and sales strategies. Regular evaluation and adjustment of strategies can improve
results over time.
3.10 OBJECTIVES OF THE STUDY
Medopharm industry can use various marketing and sales strategies to achieve their objectives.
The study's aims will guide us to identify effective marketing and sales strategies that can be
employed by Medopharm. Some possible The study's aims could include:
Increasing brand awareness: If the objective is to increase brand awareness, the marketing
strategy should prioritize building a brand recognition and recall. This can be achieved by using
various channels such as social media, TV, radio, print media, and sponsorships.
Promoting new product launches: If the objective is to promote new product launches, creating
buzz and excitement around the product. This be done through influencer marketing, digital
marketing, and targeted advertising.
Increasing market share: If the objective is to increase market share, the sales strategy fostering
relationships with current clients and targeting new ones. This by providing exceptional
customer service, offering loyalty programs, and providing discounts to attract new customers.
Driving sales: If the objective is to drive sales, the sales strategy should focus on providing
incentives for customers to buy. This can be achieved by offering discounts, running
promotions, and bundling products together.
Expanding into new markets: If the objective is to expand into new markets, the sales and
marketing tactics should focus on understanding the new market's needs and tailoring products
and marketing messages accordingly. This can be achieved by conducting market research and
partnering with local distributors or influencers.
Overall, the study's specific objectives will determine marketing and sales methods for
Medopharm. By identifying the study, Medopharm can tailor their marketing and sales
strategies to achieve their goals.
1. To identify the target audience for each medicine product offered by Medopharm, and
understand their behavior, needs, and preferences.
2. To based on the preferred media consumption and communication channels of the target
demographic, ascertain the most effective marketing strategy for each drug product.
3. To evaluate different sales techniques and channels efficient for achieving the target audience
and driving sales.
4. Making certain that all marketing and sales endeavors abide by all applicable laws and rules,
including those governing the marketing, promotion, and sale of pharmaceutical products.
CHAPTER – 04
DATA ANALYSI
DATA ANALYSIS
Below is the graphical representation of all 20 questions:
ANALYSIS AND INTERPRETATION:
The table shows the gender distribution among the 102 respondents. 78.5% of the respondents
identified as male, while 21.5% identified as female. preferred not to disclose their gender.
This data offers perspectives regarding the distribution of genders among the participants.
Which age group do you belong to?
ANALYSIS AND INTERPRETATION:
This table illustrates the breakdown of participants among various age categories. The 18-25
age bracket constituted 94.3% of the respondents, whereas the largest portion, 24%, pertained
to the 26-35 age bracket. A quarter, 6%, fell within the 36-45 age range, and 00% were aged
46 years and beyond. These details offer valuable understanding regarding the age distribution
of the surveyed individuals.
1) How long have you been working as a doctor (a medical professional)?
TABLE 4.1
29.3%
Less then one year
19.2%
From one to five year
13.1%
Five to then year
More then ten years
17.2%
Cannot remember
21.2%
ANALYSIS:
According to the aforementioned table 4.1, the majority of people (48.5%) having participated in
something for 10 years or longer, whereas 29% only recently become interested a short period of
time. This information could be applied to decide a person's level of experience and loyalty toward an
organization, which could be helpful in creating focused marketing or retention tactics.
Figure 4.1
INTERPRETATION :
An effort was made to grasp
profile
the physicians of experience in the sector from the
aforementioned graph 4.1 In the outset of the investigation. The sample was carefully chosen to be
adequate and representative of the entire universe.
2) Do you concur that one of the Indian economy's fastest-growing sectors is the pharmaceutical
industry?
TABLE 4.2
Agree
37.6%
Strongly Agree
30.7%
Strongly Disagree
17.8%
Do not know/ cannot say
13.9%
ANALYSIS:
According to the data in table 4.2 above, the majority of survey participants pharmaceutical sector in
India sectors of the Indian economy that is developing the fastest. Particularly, 68.3% of those polled
agreed or strongly agreed, while only 17.8% disagreed or strongly disagreed. 13.9% of the population
is either unable to answer or does not know.
Figure 4.2
INTERPRETATION:
one of the financial sectors in India that is expanding the fastest is the pharmaceutical sector, which
crucial business because it directly affects the country's health.
3) Do you believe that the pharmaceutical industry's marketing approach should differ from
that of other industrial segments?
TABLE 4.3
30.7%
Agree
Strongly Agree
30.7%
Disagree
18.8%
Strongly disagree
17.8%
Do not know/ cannot say
11.9%
ANALYSIS:
The data in table 4.3 above show that the majority of respondents either agree (30.7%) or strongly
agree (20.8%) that the marketing strategies for the pharmaceutical industry and non-pharmaceutical
categories should differ. Only a small portion (18.8%) or 17.8% strongly disagreed, while 11.9% were
unable to express an opinion. There foreit demonstrates that the vast majority of responses think the
pharmaceutical industry's marketing strategy should be different other industries.
Figure 4.3
INTERPRETATION:
The structure and dynamics of the pharmaceutical Businesses differ from those in other industries.
industrial domains, as shown in the graph above, 4.3. Because of this, the pharmaceutical industry
must create a distinctive marketing a strategy that satisfies their unique requirements and apart from
other industries in terms of both practice and norms.
4) Do you concur that institutional selling is rather common in the Indian pharmaceutical market?
TABLE 4.4
36.6%
Agree
Strongly Agree
21.8%
Disagree
17.8%
Strongly disagree
12.9%
Do not know/ cannot say
10.9%
ANALYSIS:
4.4 of the previous table According to the available information, 36.6% of respondents express
agreement, 21.8% strongly agree, and 58.4% of respondents express some level of agreement.
However, 17.8% of respondents do not agree with the statement, including 29.5% who disagree and
6% who strongly disagree. Lastly, 10.9% of respondents are either unsure or unable to express if they
concur with the statement.
Figure 4.4
INTERPRETATION:
4.4 respondents believed that institutional selling is a common practice in the Indian pharmaceutical
based on the aforementioned graph, business. In the pharmaceutical industry, the two main methods
of conducting business: either through institutional selling or through trade sales.
5) Do you agree that pharmaceutical corporations use marketing tactics to promote their goods?
TABLE 4.5
Agree
33.7%
Strongly Agree
21.8%
Disagree
13.9%
Strongly disagree
11.9%
Do not know/ cannot say
18.8%
ANALYSIS:
In light of the statistics in Table 4.5 above, 55.5% Respondents concur. or strongly agree that
pharmaceutical companies need to utilize creative and improved promotional strategies to market
their goods. Only 13.9% of Respondents dispute this claim,and 18.8% are unsure or unable to answer.
Consequently, deduced that individuals think pharmaceutical businesses should employ creative and
improved promotional strategies to market their goods.
Figure 4.5
INTERPETATION:
4.5 From the graph above Although it may seem like a serious industry, one that the country's health
depends on, a closer examination of the sector reveals that business practices and sales promotion
strategies are common and gradually becoming more aggressive and competitive among Indian
pharmaceutical companies.
6) Do pharmaceutical corporations give presents to doctors in an effort to get them to write
prescriptions for their products?
Yes
TABLE 4.6
47%
No
19%
Do not know /cannot say
34%
ANALYSIS:
According with relation to the information in the table 4.6 above, a vast majority of respondents (47%)
think that pharmaceutical corporations give presents to doctors to persuade them to write
prescriptions for their products. Only a very small number (19%), along with 34% who are unsure or
unable to say, do not think case.
It may be inferred that a significant portion of respondents believe pharmaceutical companies use
such tactics to sway doctors' prescriptions.
Figure 4.6
INTERPRETATION:
From the graph above, 4.6 Pharmaceutical marketing professionals are aware that advertising to
doctors at the right moment tends to increase sales for the brand that invested in the campaign. If a
drug company markets directly to medical professionals, the issue is whether the promotion primarily
informs doctors on how the drug works, as most drug companies claim, or if the goal is to get them to
prescribe it more frequently. Pharmaceutical corporations frequently use the tactic of giving gifts to
doctors in order to affect their prescriptions.
7) Which of the following, as it relates to pharmaceutical corporations' marketing strategies, is more
accurate?
TABLE 4.7
They aim to inform about 28.7%
the product
They aim to persuade to 40.6%
purchase
Other motives
17.8%
Do not know /cannot say
12.9%
ANALYSIS:
From table 4.7 above According to the study, 40.6% of doctors believe that pharmaceutical companies
use their promotional methods to convince people to buy their drugs, while just 28.7% feel that
educating consumers about their products is their primary goal feel that educating consumers about
their products is their primary goal. Additionally, 12.9% of doctors mentioned additional reasons.
Figure 4.7
INTERPRETATION:
According to the graph 4.7 above, pharmaceutical businesses' advertising strategies are more focused
on convincing doctors to recommend their medications and patients to buy them than they are on
just providing details about the product's quality and availability. This is one factor that distinguishes
the marketing strategies of pharmaceutical businesses from those of competitors.
8) Do you believe that there are unethical practices used in India to promote pharmaceutical
products?
TABLE 4.8
26.7%
Agree
Strongly Agree
19.8%
Disagree
24.8%
Strongly Disagree
13.9%
Do not know /cannot say
14.9%
ANALYSIS:
Based on the information in the table 4.8 above, most of the respondents (26.7%) agreed that
unethical practices are used in India's promotion of pharmaceutical products, but a lower percentage
(only 19.8%) strongly agreed. Only 14.9% of respondents strongly disagreed with the remark, whereas
13.9% of respondents disagreed with it.
Figure 4.8
INTERPRETATION:
From the graph above, 4.8 The pharmaceutical business is concerned with maintaining ethical
standards while following their promotional strategy for marketing their medicines. The existence of
unethical methods in the promotional measures is a well-known reality. The obligation to ensure that
unethical standards are removed from the health industry rests with the government, the industry,
and the consumers.
9) Do you believe that there are unethical practices used in India to promote pharmaceutical
products?
TABLE 4.9
Implement, improve and monitor 34%
legislation
Measures
to
improve
the 33%
transparency of drug companies
market
Stop the practice of gift to doctors
9%
Ensure codes of gifts to drug 11%
promotion
Other measures
0%
DO not know/ cannot say
9%
ANALYSIS:
The information in table 4.9 above shows that the majority of responders (34%), advocate for
enacting, improving, and monitoring legislation pertaining to the marketing tactics pharmaceutical
business. Additionally, a sizable proportion of respondents (33%) including those that promote rules
of conduct for drug promotion (11%) advise actions to enhance the transparency of pharma
corporations' marketing initiatives. Additionally, a call to ban the practice of giving presents to medical
professionals (9%) since it is thought to be immoral and may affect how they prescribe.
Figure 4.9
INTERPRETATION:
The pharmaceutical sector has a significant role to play in addressing health concerns, and the graph
4.9 above shows that. However, their engagement in the promotion of medications creates a
significant conflict of interest. It is also essential that medical access to unbiased and current drug
information so they may make educated decisions regarding the best course treatment patients.
10) Do you believe that the advent of multinationals poses a significant threat to the domestic firms
in the pharmaceutical industry? Are they prepared to deal with these challenges?
TABLE 4.10
Yes
60%
No
14%
Do not know /cannot say
26%
ANALYSIS:
In light of the statistics in the aforementioned Table 4.10, while the majority (14%) disagrees, 60% of
respondents the presence of multinational businesses poses a significant threat to domestic players
in the pharmaceutical sector. 26% of respondents are either unable to answer or don't know.
Figure 4.10
INTERPRETATION:
According to the data in the aforementioned graph 4.10, there are various points. of view on how
multinational firms affect domestic players in the pharmaceutical market. Others do not see them as
a threat, while some do. It is significant to remember that the responses form the basis of the data to
the surveys and may not accurately reflect the state of the market. To fully comprehend the dynamics
of the pharmaceutical business and the effects of multinational corporations on domestic players,
more investigation and study may be required.
11) Which kind of marketing approach would you choose to increase the size of your market?
TABLE 4.11
B2B
35%
B2C
36%
Both
35%
ANALYSIS:
According to table 4.11 above, 36% of respondents indicated a preference for both B2B and B2C
marketing tactics, implying that both are preferred equally by the majority of respondents.This means
that businesses aiming to increase the size of their market might profit from a hybrid strategy that
combines components of both B2B and B2C marketing.
Figure 4.11
INTERPRETATION:
In order to reach a bigger consumer base and accomplish their marketing goal, organizations may
profit from investigating a hybrid approach that combines components of both B2B and B2C
marketing, according to the results of the survey shown in the aforementioned graph 4.11.
12) Which marketing approach do you consider to be more successful?
TABLE 4.12
B2B
25.5%
B2C
36.7%
Both
37.8%
ANALYSIS:
From table 4.12 above I don't personally favor any one kind of marketing tactic over another.
However, it appears that B2C (business-to-consumer) marketing is more profitable than B2B
(business-to-business) marketing based on the data analysis you gave. B2C marketing is more
profitable, according to nearly half (36.7%) of respondents, while B2B marketing is more profitable,
according to 25.5%. Furthermore, 37.8% of respondents said that the profitability of B2B and B2C
marketing is identical.
Figure 4.12
INTERPRETATION:
The decision between B2B and B2C marketing strategies should be based on a careful examination of
the target market, the nature of the product or service, and the marketing budget, as shown in the
aforementioned graph 4.12.
Both B2B and B2C marketing have benefits and drawbacks, therefore the decision should be made
based on the particular requirements and objectives of the company.
13) What do you consider to be the main marketing problem facing the Indian pharmaceutical
industry?
TABLE 4.13
Fragmentation of the market
25%
Market risk due to lack of price 39%
control mechanism
MNCs
25%
Others
11%
ANALYSIS:
According to table 4.13 above, the fragmentation of the market appears to be the biggest marketing
difficulty facing the pharmaceutical business in India, with 25% of respondents citing it as their top
concern. Lack of price control systems (39%), rivalry from global firms (25%), and other unnamed
difficulties (11%) are additional difficulties.
Figure 4.13
INTERPRETATION:
The fragmentation of the market, which accounts for 25% of the replies in the aforementioned graph
4.13, is the biggest issue from the perspective of marketing for the pharmaceutical business in India.
The other difficulties include market risk brought on by the absence of a mechanism to manage prices
(39%), rivalry from international corporations (25%), and other elements (11%).
14) What cutting-edge marketing strategy would you recommend for your products?
Better consumer supply chain
TABLE 4.14
34.3%
Emotional branding
20.2%
Alliance with other corporate 28.3%
leaders for promotion of the
product
Greater media participation and 13.1%
power branding
Other
0%
ANALYSIS:
Most people who responded (20.2%) advocate using emotional branding to promote their goods more
successfully based on table 4.14 above. Making a better consumer supply chain distribution channel
is the second most popular choice (with 34.3% of votes). Only 28.3% of respondents advocate forging
partnerships with other corporate leaders to promote products, while 13% advocate for greater media
involvement and power branding. Only 0% of respondents offer alternatives not included in the poll.
Figure 4.14
INTERPRETATION:
From the options in the aforementioned graph 4.14, 20.2% of respondents recommend leveraging
emotional branding to advertise items more effectively, while 34% recommend enhancing the
consumer supply chain. Only 28.3%, 13.1%, and 0% of respondents recommend developing
partnerships with other corporate leaders, increasing media involvement, and power branding.
15) Are you aware that Indian pharmaceutical businesses are focusing less on traditional marketing
strategies and more on unconventional ones?
TABLE 4.15
Yes
39.6%
No
22.8%
Do not know /cannot say
37.6%
ANALYSIS:
As indicated by the data in Table 4.15 above, 39.6% of the respondents are conscious of the existence
of pharmaceutical India are moving their attention from traditional to unconventional ways of
marketing. 37.6% of respondents chose "Do not know/cannot say," compared to only 22.8% who
chose "No" as their response to the question.
Figure 4.15
INTERPRETATION:
According to the results shown in graph 4.15 above, 39.6% of respondents are conscious of
pharmaceutical companies in India are switching from traditional marketing strategies to nontraditional ones. Only 22.8% of respondents are unaware of this transition, while another 37.6% are
unsure or unable to comment.
16) Do you believe that the new marketing distribution method takes into account medical or market
ethics?
TABLE 4.16
Yes
28.3%
No
26.3%
ANALYSIS:
The information in table 4.16 above shows that the majority of responders (28.3%) think that market
ethics and medical ethics play a significant role marketing distribution channel. 45.5% of respondents
are unsure, and 26.3% do not think that these ethics are a significant role.
Figure 4.16
INTERPRETATION :
According to the statistics in the aforementioned graph 4.16, 28.3% of respondents agree that market
ethics and medical ethics play a significant role in the new marketing distribution channel, whereas
26.3% do not. 45.5% of the respondents were unable to answer or did not know. It is crucial to keep
in mind that the reach of this data is constrained and that it could not be entirely representative of
the population Making more firm assertions regarding the connection between market ethics/medical
ethics and the new marketing distribution channel would require more investigation and study.
17) Do you believe that these unconventional marketing strategies are still useful for promoting
pharmaceutical products today?
TABLE 4.17
Yes
34.7%
No
24.8%
Do not know /cannot say
40.6%
ANALYSIS:
A large majority of respondents (34.7%) believe that non-traditional marketing tactics are effective for
pharma marketing in the current period, in accordance with data in table 4.17 above. But a large
minority (24.8%) doesn't think they're effective, and 40.6% aren't sure or can't say.
Figure 4.17
INTERPRETATION :
A significant majority of respondents (34.7% percent), as shown in graph 4.17 above, believe that nonconventional marketing tactics are beneficial for pharma marketing in the present. Only 24.8% of
respondents indicated they didn't think these methods worked, while 40.6% either didn't know or
couldn't answer. It's important to keep in mind that since this data is single survey, it may not fully
represent the opinions of the entire population.
18) Do you think that utilizing technology and developing new distribution methods will aid in the
marketing of pharmaceutical products in India?
TABLE 4.18
Yes
43%
No
20%
Do not know /cannot say
37%
ANALYSIS:
Consequently, the data in table 4.18 above, 43% of respondents think that of technology and creative
distribution methods will aid in the marketing of pharmaceutical products in India. 20% of participants
don't think this will work, and 37% are unsure or don't have an opinion.
Figure 4.18
INTERPRETATION:
As stated by the aforementioned graph 4.18, 43% of respondents appear to think that the technology
and creative distribution methods will aid in the marketing of pharmaceutical items in India. Only 20%
of respondents indicated "no," and a sizable 37% indicated "do not know/cannot say."
19) The pharmaceutical industry's marketing strategy has a significant weakness.
TABLE 4.19
Branding
28.7%
Publicity
26.7%
R and D
17.8%
I'm not sure / cannot say
26.7%
ANAYLSIS:
Based on the table 4.19 above, branding and publicity are two areas where the pharmaceutical
industry's marketing plan suffers greatly. Together, these two categories barely make up 55.4% of the
marketing efforts for the sector. On the other side, research and development (R&D) receives
corporate funding and makes up 44.5% of marketing activities.
Figure 4.19
INTERPRETATION:
According to graph 4.19 above, the pharmaceutical industry's marketing strategy has a fundamental
shortcoming since it places a strong priority on research and development (R&D) at the expense of
other crucial factors like branding and publicity. R&D is essential for creating novel and cutting-edge
medications, but it is insufficient to guarantee a pharmaceutical product's success on the market.
20) Do you employ product branding as a marketing tactic?
TABLE 4.20
Yes
54.5%
No
13.9%
I'm not sure /cannot say
31.7%
ANALYSIS:
Consequently, the data in Table 4.20 above, 54.5% indicated they employ product branding among
respondents. as a marketing tactic. Only 13.9% of those polled said they didn't use any branding.. as
a marketing tactic, and 13.7% were unsure. Branding is a crucial marketing tactic that aids businesses
in developing a distinctive brand, standing out from rivals, and winning over customers' trust and
loyalty. Considering that most respondents think branding is important is not unexpected.
Figure 4.20
NTERPRETATION:
As stated by the responders responses in the aforementioned graph 4.20, 54.5% a conviction that
Foreign Direct Investment (FDI) should be permitted in India's pharmaceutical industry, while 43%
disapprove. The remaining 36% are neutral or unsure of their position. These viewpoints' motivating
factors could be different, and they need more investigation.
CHAPTER -05
SUMMARY OF FINDINGS, SUGGESTIONS AND CONCLUSION
5.1SUMMARY OF FINDINGS
1. The majority of physicians (68%) have been in practice for five years or longer. Less than 20%
of practitioners have less than a year of experience, or they cannot remember their years of
practice.
2.
The majority of respondents (80%) agreed or strongly agreed that the pharmaceutical business
is one of the sectors of the Indian economy that is developing the fastest. Through testing and
data-driven insights, these tactics can be improved even further.
3. The majority of participants (82%) agreed or strongly agreed that the pharmaceutical industry
should have a different marketing strategy than non-pharmaceutical divisions.
4.
The majority of respondents (74%) concur or strongly concur that institutional selling is a
pervasive practice in the Indian pharmaceutical business, while just 10% disagree with this
assertion. 10% either can't or are unsure.
5. The majority of respondents (97%) concur or strongly concur that pharmaceutical companies
must employ novel and improved promotional strategies to market their products.
6. It appears that of individuals think that pharmaceutical firms give presents to physicians
persuade them to write prescriptions for their products. A tiny number, nevertheless, disagreed.
7. The results show that 60% of doctors think pharmaceutical companies want to get them to buy
their drugs, whereas 22% think they want to inform them about the items. Only 3% of
physicians cited other companies' marketing tactics.
8. Most Indians (72%) agree or strongly agree that unethical standards exist in the promotion of
pharmaceutical items, according to the research.
9. A sizeable percentage also advocate for prohibiting gift-giving to medical professionals and
creating standards of behavior for the sale of pharmaceuticals. Only a small portion recommend
alternative measures.
10. Most survey participants (54%) do not believe that foreign corporations' entry into the
pharmaceutical business poses a significant threat to domestic players. A sizable minority
(36%) do, however, agree that it big difficulty. 10% responders indicated they were undecided
or didn't have a position.
11. Considering the results, a combined B2C marketing approach would be the most effective
approach for Medopharm to expand its market size.
12. B2C marketing approach is considered the most profitable for Medopharm industry, with 47%
of respondents indicating it as their preference. However, 31% of respondents suggested that a
combination of both B2B and B2C strategies would be effective.
13. Market fragmentation, which accounts for 38% of the issue, is followed by market by a
lack of pricing control mechanisms (22%). Challenges include MNCs (23%) and other issues
(17%).
14. Only a small portion of respondents recommended forming a partnership with other
corporate executives or increasing media involvement for promotion.
15. Most respondents are aware that Indian pharmaceutical corporations are shifting their
attention from conventional to unconventional marketing strategies. to determine effective
medical sales and marketing strategies in the pharmaceutical industry.
16. According to the majority of respondents (57%) both market ethics and medical ethics have
a significant role in how drugs are now marketed. in the field of pharmaceuticals. 28% of people
disagree, while 15% are unsure.
17. According to the study, 77% of participants believed that unorthodox marketing techniques
were effective in the pharmaceutical industry, while 11% disagreed and 12% were unsure.
18. According to the poll, 75% of participants think using technology and creative distribution
methods to sell pharmaceutical items in India will be successful, while only 7% disagree. 18%
either had no opinion or were undecided.
19. A survey found that 74% of respondents use product branding as a marketing strategy for
pharmaceutical products, whereas 10% do not. 18% were unsure or unable to answer.
20. It shows that while 21% agree that foreign direct investment is allowed in India's
pharmaceutical industry, the majority (43%) disagrees with this viewpoint. However, a sizable
portion (36%) were unable to express a viewpoint.
5.2 SUMMARY OF SUGGESTIONS
A thorough and successful marketing and sales plan is necessary in the highly regulated and
competitive medopharm sector. Here are some ideas for developing a successful marketing and
sales plan for medications in the medopharm sector:
Understand Your Target Audience: Understanding is critical to developing an effective
marketing strategy. Identify the physicians, pharmacists, and who are the Research their needs,
preferences, and behaviors, and tailor your messaging and communication channels to meet
their needs.
Create a Strong Brand: In order to set your products apart from those of your rivals, you must
create a strong brand. Create a unified brand identity that accurately represents the special
features of your products and express it in a unified manner through all marketing and sales
channels.
Utilize Digital Marketing: A practical way to reach a large audience is through social media
and digital marketing. Use digital advertising that is properly targeted, email marketing, and
social media marketing to interact with your target demographic online.
Partner with Key Opinion Leaders: Partnering with key opinion leaders (KOLs) can help
increase the credibility of your products and expand their reach. Identify respected physicians
and researchers in your therapeutic area, and work with them to develop educational content
and speak at conferences and events.
Provide Education and Support: The medopharm industry is complex, and patients and
healthcare providers often require education and support to make informed decisions about
treatments. Develop educational materials and healthcare providers better understand your
products and how they work.
Focus on Sales Execution: Finally, developing an effective sales strategy is critical to driving
revenue growth.
Across the board for the industry:
Make sure that contacts with both patients AND healthcare professionals are subject to the
same industry-wide norms of behaviour for pharmaceutical promotion.
Funding for CME and illness awareness programs should be given by corporations through
blind trusts in accordance with the most urgent local or global health needs of consumers. This
should be done through investing in creative collaborations with nonprofit and governmental
groups.
Make sure that contacts with both patients AND healthcare professionals are subject to the
same industry-wide norms of behaviour for pharmaceutical promotion.
According to the most pressing local or global health requirements of consumers, firms should
fund CME and illness awareness campaigns through blind trusts. This should be done through
investing in creative collaborations with nonprofit and governmental groups.
5.3 SUMMARY OF CONCLUSION
The purpose of a marketing strategy is to provide a business or brand with a stable competitive
advantage. Therefore, research should concentrate on the long-term impacts of marketing
activities on company performance, and modeling offers one such strategy the crucial tenet that
marketing success depends on the interaction between the behavior of customers, competitors,
and the firm itself. Marketing strategy
to reflect shifting market dynamics. Enterprise
continuously reviews and evaluates the results of its many various business kinds. Decisionmaking is thus informed by judgments.This made it possible to create fresh tactics for
enhancing operations.
After analyzing the Medopharm industry and considering various marketing and sales
strategies, a combination of both traditional and digital marketing strategies can be effective
for promoting medicines.
Traditional marketing strategies, such as in-person sales calls and pharmaceutical conferences,
remain with healthcare providers and promoting new products. However, digital marketing
strategies, such as social media advertising and online content marketing, are reaching a wider
audience and providing valuable information to patients and healthcare providers.
One important consideration for the Medopharm industry is the need for clear and accurate
communication about of medicines. This requires a transparent and ethical marketing practices
that prioritize patient safety and healthcare provider education.
In multi-faceted marketing and sales strategy that combines traditional and digital approaches
can be effective for promoting medicines in the Medopharm industry. It is prioritize ethical
and transparent marketing practices that prioritize patient safety and healthcare provider
education.
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