Uploaded byMohammad Masum Chowdhury
Steps to powerful pharmaceutical brands
This document discusses how to build powerful pharmaceutical brands. It outlines five key measures of a brand's power: clarity, distinctiveness, leadership, awareness, and familiarity. A powerful brand forms an emotional bond with doctors by coming to mind as a friend that can be relied on to help patients. While rational attributes like efficacy matter, emotional relationships where the brand is close to doctors' hearts drive prescribing. The document also categorizes different types of pharmaceutical brands and explains why some brands fail to meet their potential, such as by not generating enough awareness or having an inconsistent image.
More Related Content
Similar to Steps to powerful pharmaceutical brands
Steps to powerful pharmaceutical brands
- 1. Steps to Powerful PharmaceuticalBrands Presented By Masum Chowdhury Manager, SBMD Asiatic Laboratories Ltd. Afixime Antison Atonor Ceroxime Alpam Eso-20 P-20 O-20 Ulsec Calpress Tenodin Animet Arbium Lexnil Cip -500 Asilee Asizith Cefipod Pevisia
- 2. Brands with realpower have a distinct and emotionally positive positioning in Doctor’s mind.
- 3. • When abrand comes to mind and it feels like a friend, it’s familiar, predictable, reliable, and it’s going to help when you need it, that’s a very powerful position. What happened ………………….. When a Brand comes to mind?
- 4. That Brand willgive me a 1% greater decrease in LDL……. that’s not a very powerful hook. What happened ………………….. When a Brand comes to mind? If another Brand comes along and it offers a 2% greater decrease in LDL……. then doctors are going to start using it.
- 5. Power of Brand Sothe power for the brand comes in building a bond, an emotional relationship with the medical consumer (Doctor). What’s burned in doctors’ minds is close to their hearts, and not just their rational side.
- 6. How do youmeasure a Brand’s Power Five key measures that we look at when assessing a brand.
- 7.
- 8. Awareness How many people/Doctorhave heard of your brand ? That’s the very first step in a long journey towards true brand power.
- 9. How well dopeople know your brand? Familiarity So beyond awareness, we are looking at whether there is an in-depth understanding or if it’s superficial.
- 10. How consistent areperceptions of your brand ? Clarity If there is a lot of divergence in how people think about your brand, it can’t be a powerful brand.?
- 11. For a brandto be truly successful, people have to be clear on what it’s all about. Clarity
- 12. Once we havegotten past those 3 steps then we look at Distinctiveness. Clarity Awareness Familiarity
- 13. Is the imageof the brand unique or the same as some other medication or some other brand ? Distinctiveness How differentiated are you from your competition? Is there an attribute or a set of attributes that you own, such as a performance attribute or a feeling that is distinctly yours?
- 14. How well areyou doing on the items that are really driving choice? Leadership Some attributes are nice to have, but don’t really driving choice. Other attributes push physicians to put their pens to the script pads and write your brand.
- 15. Leadership is howwell you are performing on those key drivers. Leadership
- 16. “Branding is anemotional shortcut between a company and its customer”
- 17. How your brandis performing & how much power it has overall
- 18. • There arefive different types of Pharma Brand – Champion Brands Unimportant Difference Brands Unfocused Brands Me-too Brands Developing Brands
- 19. • Champion Brandsthat dominate in their markets. Champion Brands • Champion Brands have high market penetration and high market share • Doctors have a strong emotional relationship with Champion Brands
- 20. • Unimportant differencebrands who are distinct , but their point of differentiation doesn’t really drive prescribing. Unimportant Difference Brands
- 21. • Unfocused brandswhich have an inconsistent image in the market, and their problem is clarity; Unfocused Brands
- 22. • Me-too brands,which are clear and well understood but they just don’t have a point of difference. Me-too Brands
- 23. • Developing brandsthat are just at the stage of starting to build awareness and familiarity. Developing Brands
- 24. There’s a clearand direct relationship between brand power and market share. Link brand power to market share The correlation is very strong and very clear. The brands with the most powerful positioning – with the most favorable emotional bond with the physician – have by far the market share.
- 25. Why do somebrands excel and others fail to meet their potential ?
- 26. Brands can failin a number of different ways -
- 27. Brands can failby not generating enough awareness or familiarity. 1
- 28. Brands can failby not giving physicians a consistent and clear image. 2
- 29. Brands can failfor lack of differentiating advantage 3
- 30. Brands can failfor Poor marketing plan 4
- 31. Brands can fail whenno access to market 5
- 32. Brands can fail whenproduct quality is poor 6
- 33. Brands can failbecause lack of Key Opinion Leader Profiling & Development 7
- 34. “A brand isnot simply the name of a Pharmaceutical product but rather the value the drug has for physicians and their patients.”
- 35.