Biomarketing strategy and tactics 101 PART I of III
January 1, 2012Comments Off on Biomarketing strategy and tactics 101 PART I of III Posted in: General Biotechnology
The American Marketing Association defines marketing as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.1 According to the Pharmaceutical Research and Manufacturers of America appropriate marketing of medicines ensures that patients have access to the products they need and that the products are used correctly for maximum patient benefit.2 The most important promotional tools for biopharmaceutical firms are 1) personal selling, 2) advertising, 3) public relations and publicity, and 4) web promotion. Part I of this three-part article focuses on the nature of the biopharmaceutical marketing’s four P’s, the importance of marketing strategy, the conduct of environmental analysis, and maket segmentation. Part II delves into the processes of targeting and positioning, marketing planning, as well as biopharmaceutical branding. Part III completes the series by focusing on the push and pull promotional strategies, advertising, selling, and biopharmaceutical web and social marketing.