Subject: Management
Semester: 10th A
Submitted to: Ma’am Kanwal
Submitted by: Group #04
Names Reg. No.
Uzair Ahmad 70116523
Muhammad Ateeq 70116233
Hafiz Humayoun Saeed 70116598
Mashaim Ejaz 70116223
Aamish Ejaz 70115743
Yasir Manzoor 70116517
Marketing management
1. Ethical Considerations in Pharmaceutical Marketing:
Pharmaceutical marketing is highly regulated and must adhere to ethical standards to ensure
patient safety, transparency, and fairness. Ethical considerations include:
Truthful Advertising: Claims made about a drug’s efficacy and safety should be backed
by scientific evidence. Misleading or exaggerated claims can have severe consequences.
Regulatory Compliance: Pharmaceutical marketing must comply with guidelines from
organizations like the FDA (USA), EMA (Europe), and WHO to prevent unethical
practices.
Patient Safety and Public Health: Promotions should not encourage self-medication or
overuse of prescription drugs.
Transparency in Pricing: Fair pricing should be maintained to ensure accessibility.
Excessive price hikes for essential medicines are unethical.
Ethical Relationships with Healthcare Professionals (HCPs): Direct incentives, gifts,
or lavish perks given to doctors to promote specific drugs are considered unethical and
can lead to biased prescriptions.
Marketing to Vulnerable Populations: Pharmaceutical companies should ensure that
marketing practices do not exploit vulnerable groups, such as the elderly or those with
chronic conditions.
Data Privacy and Protection: Patient information obtained through research or
marketing surveys must be protected and used ethically.
2. Difference Between Pharmaceutical Marketing and Consumer Marketing:
Aspect Pharmaceutical Marketing Consumer Marketing
Target Audience Physicians, hospitals, pharmacies, General consumers and
regulators businesses
Regulatory Highly regulated by governments Less regulatory control,
Control (FDA, EMA, etc.) depending on the industry
Product Nature Prescription (Rx) and over the Fast-moving consumer goods
counter (OTC) drugs, vaccines (FMCG), electronics, etc.
Marketing Medical representatives, scientific Mass media, digital
Channels journals, conferences marketing, direct sales
Promotion Scientific data, clinical trials, doctor Emotional appeal, branding,
Methods recommendations advertising
Consumer Based on doctor recommendations Direct consumer purchase
Decision Process and prescriptions decisions
3. Major Stakeholders in the Pharmaceutical Market Environment:
The pharmaceutical industry is influenced by several key players, including:
Pharmaceutical Companies: Research, develop, manufacture, and market drugs.
Healthcare Professionals (HCPs): Doctors, pharmacists, and nurses who prescribe or
recommend medicines.
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Regulatory Authorities: Government bodies like the FDA (USA), EMA (Europe), and
MHRA (UK) that oversee drug approvals and marketing practices.
Patients: The end-users of pharmaceutical products who rely on safe and effective
treatments.
Hospitals and Clinics: Major purchasers of pharmaceutical products that influence drug
adoption and usage.
Pharmaceutical Distributors and Wholesalers: Ensure that medicines reach
pharmacies, hospitals, and retailers.
Insurance Companies and Payers: Influence drug pricing, reimbursement policies, and
market access.
Medical Research Institutions: Conduct clinical trials and contribute to drug
development.
Media and Advocacy Groups: Influence public perception and policies regarding
pharmaceutical products.
4. Marketing Research in Pharmaceuticals (Process and Methodology):
Marketing research in the pharmaceutical industry helps companies understand market trends,
customer needs, and competitive positioning. The process includes:
A. Marketing Research Process:
1. Problem Definition
Define the objective: e.g., understanding market demand for a new drug.
Identify key questions: e.g., how do doctors perceive the drug?
2. Research Design
Select qualitative (interviews, focus groups) or quantitative (surveys, statistical
data) approaches.
Determine data sources (primary or secondary).
3. Data Collection
Primary Data: Gathered through clinical trials, physician surveys, patient
feedback, etc.
Secondary Data: From industry reports, market trends, published studies,
government databases.
4. Data Analysis
Use statistical tools (SPSS, SAS, etc.) to analyze trends, customer preferences,
and market gaps.
5. Findings and Report Preparation
Present actionable insights to management for strategic decision-making.
6. Decision Making and Implementation
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Modify marketing strategies, adjust pricing, or refine product positioning based
on research findings.
B. Research Methodologies:
1. Qualitative Research
In-depth interviews with healthcare professionals.
Focus groups with patients.
Case studies on drug usage.
2. Quantitative Research
Surveys with structured questionnaires.
Statistical market analysis.
Prescription audit data.
3. Competitive Analysis
Benchmarking against competitors.
Studying pricing strategies.
4. Product Testing & Clinical Trials
Gathering efficacy and safety data before launch.
5. Post-Marketing Surveillance
Monitoring drug performance and adverse effects.
