Digitalization in pharmaceutical marketing Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Digitalization in pharmaceutical marketing Case Solution

Production

The production concept came from the industrial revolution time until the early 1920s. It was the time when the yield was limited in respect to less competition and high demand. As time passed by, relatively by the mid-1930s, large scale of manufacturing had become ordinary.Therivalry had expanded and the interest of the buyer became diminished. Now the main focus of the organization has started to rehearse the selling idea,which was aimed at persuading the clients to purchase their items through publicizing and individual selling.

Sales

Now the consideration was given to the sale. The main objective was to beat the opposition of salesconcerning customers’ satisfaction and preferences.

Marketing

Marketing is functioned when the product is developed and is promoted through different digital and marketing aspects, such as: E-mailing, SMS, Conferences, In-person meetings etc.

4.Competition

The pharmaceutical market is a complex system in which a large number of stakeholders work hard to achieve their interests. The market supply is made by an immense number of drug organizations; however, the product and the geographical scope impose the conclusion of the pharmaceutical market.

4.1 Marketing Macro Environment

The macro-environment shows the both demand and supply of the products in the market. It sets the overall framework and mutual considerations, depending upon the market behavior.

Porter and Kramer shows the relationship between the individual aspects of macro-environment and the company’s competitive advantage by highlighting the importance of the company’s goals and preferences. (Smith, 2004)

Social environment and culture

The integration of particular groups, such as: nation, culture and religious nominations comes in the socio-culture environment. It determines the way, the people see themselves and other organizational environment and their nature. (Smith, 2004)

Legal Environment

The legal and political environment plays a key role in all the marketing mix instruments. It determines a large number of marketing decisions through its prohibitions and legislation qualities, such as: designing, packaging, advertising, distribution and marketing of goods and services.Clinical benefits and pharmacy have been the consistent subjects of conversation in the political presence of any country, as the availability of clinical benefits and permission to drugs are among the most sensitive and central issues in the world. (Smith, 2004)

Economic Environment

The economic environment is specified by the changes in revenues and expenditures. It affects the availability of all the products and categories, including: pharmaceuticals, i.e. availability of healthcare. (Smith, 2004)

Technological Environment

The pharmaceutical industry is anticipated to provide R&D of the new products. The impact of the technological environment in the industry is reflected by the newly constructed medicines, in which sophisticated computer programs enable the researchers to direct the effective substances to the desired biological target, more efficiently. (Smith, 2004)

Demographic Environment

Demography refers to the study of population. Transition in demography is the result of great advances in medicine and pharmacy. It also represents one of the important issues, affecting the development studies of the industry, besides which, it also shows the demand for products in the pharmaceutical industry. (Smith, 2004)

5.Pharmaceutical Digital Marketing and Its Impact over Healthcare

For Example:

The physicians working in different clinical settings conducted a study to examine the current nature of digitalization in the pharmaceutical industry and its impact on the surrounding. Seven hundred and eighteen participants were surveyed through social media tools and knowledge is gained through digital marketing tools.The most frequent digital marketing application used by the physicians for health care industry per week is illustrated below:(See( Appendix 4) (Dhara P, 2016)

It shows that the webinars/webcasts had the strongest influence for changes in the clinical practice followed by another digital marketing tool. (Dhara P, 2016)

Conclusion

Nowadays, digital marketing is the key element in the growth and expansion of the pharmaceutical industry. The use of different digital tools has been the greatest support for the pharmaceutical and health care professionals. It might be recommended to develop different digital tactics with multichannel marketing, to increase the growth and revenues. Thus, it is important for pharmaceutical marketing to continue its evolution, to fit the frequently changing environment..........................

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Digitalization in pharmaceutical marketing Harvard Case Solution & Analysis