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Pharmaceutical Branding: Therapeutic Franchise / Range Brand Model
The document discusses branding strategies in the pharmaceutical industry, emphasizing the importance of perceived clinical value from physicians. It critiques traditional product branding and promotes concepts like range branding, which focuses on conveying successful treatment outcomes. Ultimately, it underscores that physicians prescribe based on perceived value, linking brand effectiveness directly to sales and therapeutic success.
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Similar to Pharmaceutical Branding: Therapeutic Franchise / Range Brand Model
Pharmaceutical Branding: Therapeutic Franchise / Range Brand Model
- 1. Increasing Physician PerceivedClinical Value: Therapeutic Franchise or Range Brand Strategy
- 2. Selling a Productor Promoting an Experience? or… Buying a motorcycle Buying youthful rebellion Buying the outlaw culture
- 3. Selling a Productor Promoting an Experience? or… Buying insurance Piece of Mind
- 4. Selling a Productor Promoting an Experience? or… Selling a Pill Successful Treatment Outcome
- 5. Let’s Discuss Branding &Pharma Branding
- 6. What is aBrand? • Name, sign, symbol, intended to identify goods & services of one seller from another • Branding is decommodification of product
- 7. Brand Elements • IntangibleAttributes • Product Quality • Emotional Benefits • Values Pharma definition of BRANDING is flawed: • Culture “The words, pictures and symbols that resonate most deeply with the target, and imprint the positioning in their minds. • Image Graphic Representation is the Last Step
- 8. Building a Brand •Distinguishing brand from others – value proposition • Brand promise (brand identity) must match brand delivery (brand Image)
- 9. Branding Options (PharmaRelevant) Brand Function: Indicator of Origin Endorsing Brand Range Brand Line Brand Product Brand Brand Function: Product Differentiation
- 10. Branding Options -Examples Endorsing Brand Range Brand Line Brand Product Brand 1 product
- 11. Product Brand • Assignsa particular name to one, and only one, product as well as one exclusive positioning. • The result of this strategy is that each new product receives its own exclusive brand name Procter & Gamble- soap market by Camay, Zest etc.
- 12. Product Brand –Pharma Disadvantages • CPG model - Focus on selling pills • Not effective for late-entry products • Clinically insignificant features/benefits & no advantages • Lifecycle defined by patent • Negative financial impact: • Transferring brand equity rare • Re-build customer base with each launch • Brand recognition is low (<7%) • Agency Focus on Awards…
- 13. Product Brand –Pharma Disadvantages The cover of this sales aid for Latuda uses the image of a man that's been torn to pieces and reassembled to illustrate how schizophrenia can tear patients apart. Inside, the image is still fragmented but the cracks are less prominent, showing symptom improvement. Study data is reviewed in clean, open spreads. “Great visuals with clear logical progression,” said one judge. “Relevant, clear presentation of data.” The agency reported Latuda “is on track to succeed” in its very competitive category.
- 14. Product Brand –Pharma Disadvantages • ~3-5% market share $364 million sales forecast $12.6 billion category • 3 promoted products • Category treatment failure rate - >50%
- 15. Product Brand –Pharma Disadvantages or Brand Recognition?
- 16. Product Brand –Pharma Disadvantages Transfer Brand Equity Success rate / Cost of transfer
- 17. Branding Options -Examples Endorsing Brand Range Brand Line Brand 22 products Product Brand 1 product
- 18. Line Brand • Thisstrategy involves the exploitation of successful concept by extending it but by staying very close to the product • For example, L’Oreal hair line products • The goal is to cross-sell consumers to other products within the brand
- 19.
- 20. Line Brand –Pharma Application mometasone
- 21. Branding Options -Examples Endorsing Brand Range Brand S,E,C, and A Class Line Brand 22 products Product Brand 1 product
- 22. Range Brand • Asingle brand name promoted through a single promise a range of products belonging to the same area of competence • Customer seen as assets to be managed • Provide customers with multiple ways to engage with the brand
- 23. Range Brand Model TheBrand Brand Promise Products: A B C D …N
- 24.
- 25. Range Brand –Pharma Application • Shifts the focus from selling pills to selling successful treatment outcomes • Recognizes that the pill is the cornerstone of the treatment outcome, but adds clinically significant value to enhance treatment success.
- 26. Range Brand –Pharma Application Potential Therapeutic Franchises
- 27. Branding Options -Examples Endorsing Brand Individual Products Range Brand S,E,C, and A Class Line Brand 22 products Product Brand 1 product
- 28. Endorsing Brand • Givesapproval to a wide range of product, line and range brands • Endorsing brand acts a guarantor of the brand promise • Individual product brands - have distinctive personalities, positions, promises, and packaging. • Endorsement drive sales
- 29.
- 30. Endorsing Brand: PharmaExample The “Merck Effect” 1980’s “We prescribe anything Merck brings out” Physician quote, 1988
- 31. Let’s Discuss Branding &Clinical Value
- 32. Range Brand andClinical Value • Recognizes that the pill is the cornerstone of the treatment regimen, but adds clinically significant value to enhance treatment success. • Products • Programs • People
- 33. Physician Perceived ClinicalValue Is Critical • Physicians prescribe, or support a company, for the same reason consumers buy: VALUE • They perceive the value of their choice to be superior to the value delivered by other choices. Value and Revenue Are Linked
- 34. Physician Perceived ClinicalValue Is Critical Efficacy/Benefit Price/Risk Brand A Attribute 1 Attribute 2 Attribute 3 Attribute 4 Attribute 1 Attribute 2 Attribute 3 Attribute 4 People Attribute 1 Attribute 2 Attribute 3 Attribute 4 Programs Attribute 1 Attribute 2 Attribute 3 Attribute 4 Product Value Brand B Brand C Clinical Value Brand D Brand E Brand F Company Value Clinical Value Criteria Brand B
- 35. Hope You FoundThis Interesting