Background Small and medium-sized businesses (SMEs) are the backbone of India’s economy, creating a large amount of jobs and spurring economic expansion. Delay in payments is one of the main issues MSMEs in India deal with, though. Delayed payments put SMEs at a disadvantage compared to large size counterparts, inhibiting their ability to compete effectively…
Medical publications are often highly valued by doctors because they are essential to their professional practice and continuous education. The main source of new and up-to-date information on medical research, clinical trials, treatment recommendations, and developments in medical science is medical journals. Medical publications are valued by doctors for the following 10 reasons: Current Information:…
Globally, market access has drawn a lot of attention as nations struggle to control their rising healthcare costs amid the international economic downturn. Governments have responded by implementing more stringent guidelines for the approval of new products. As a result, pharmaceutical firms are having a harder time addressing the unique issues brought up by diverse…
Introduction Bringing your medications to market and establishing trust can be challenging processes. Healthcare professionals (HCPs) with substantial knowledge in particular therapeutic areas (TAs) of the pharmaceutical sector are known as key opinion leaders (KOLs) in the industry. Pharma companies need recommendations from professionals and word-of-mouth advertising. KOLs in the pharmaceutical industry are crucial in…
From the examination of raw materials through the release of the finished packaged product, Quality Control Authorities like Central Drugs Standard Control Organisation in India established under the Drugs & Cosmetics Act, 1940. Central Drugs Standard Control Organisation (earlier known as Drugs Controller General of India) are essential to the pharmaceutical production process. They play…
The process of giving a pharmaceutical product a unique identity on the market is called pharmaceutical product positioning. It entails recognising the special qualities and advantages of your product and conveying them to the intended market in a way that sets it apart from rival goods. Your pharmaceutical firm can gain a competitive edge, boost…
Knowledge marketing is a crucial method for influencing doctors’ prescription practises in the pharmaceutical business. Pharma marketers employ various knowledge marketing strategies and initiatives with the goal of influencing HCPs’ prescribing behaviour. These consist of: Programmes for continuing medical education (CME), both online and offline. E-detailing, or physical LBLs in which a medical representative uses…
Different types of video media are used in video marketing to advertise and market the goods and services offered by healthcare companies. An astounding 86% of healthcare companies use video marketing as a marketing strategy. The effectiveness of video as a marketing tool is also attributed to its extremely shareable nature. It tries to draw…
The pharmaceutical sector is known for having a robust R&D and a sizable sales staff. However, over time, pharmaceutical businesses have encountered a number of difficulties, including high R&D costs, product patent expirations that coincide with price erosion, and the consolidation of pharmaceutical firms. Figure 1: The following illustrates a schematic view of the distinctions…
Brand awareness, used in marketing, refers to how well customers can name a product. Customers’ awareness of the brand should ideally include favorable opinions about the characteristics that set the product apart from its rivals. Promotion of a new product or reinvigoration of an established brand both needs building brand awareness. These are some points…