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The power of pharma brands

The power of pharma brands

Havas Global Comms

Havas Global Comms

January 16, 2018

Nurturing a pharma brand and implementing "emotional selling" can help a product stand out from the competition.

The pharma brand must connect with people emotionally. The brand must appeal equally to people’s hearts and minds.

pharmaphorum

By Dirk Poschenrieder
Managing Director, Havas Life Düsseldorf
Jan. 16, 2018

There is a topic that has, surprisingly, been the subject of controversial debate for years: do prescription products need branding? If we look at the current developments in the industry, the only answer to this question is a clear “yes.”  

The pharmaceuticals industry is – and is set to remain – an extremely competitive one. In addition, many patents for so-called blockbuster products, which have so far guaranteed a large part of the industry’s sales, are set to expire over the coming years. This all impacts companies’ profitability and growth.  

And, while brand development often used to be reserved for over-the-counter (OTC) products, strategic brand management has now become a must for prescription products as well. The brand management process must begin before the product has been authorized and continue after the patent has expired.

From pharma product manager to pharma brand manager 

In order to remain successful in the market, the marketing departments of pharmaceutical companies must be strategically realigned. This also applies to the job description of marketing executives; they now have to become brand managers instead of product managers.  

But what’s the difference? While product managers primarily use their comprehensive knowledge of the product to increase sales, brand managers are strategists. They are the ones responsible for brand management, development, and positioning – regardless of what the actual products are. Just like in the FMCG market, brand managers must clearly identify the brand essence and the brand identity of the prescription products and continually nurture them.

Read the full article

The pharma brand must connect with people emotionally. The brand must appeal equally to people’s hearts and minds.

pharmaphorum

By Dirk Poschenrieder
Managing Director, Havas Life Düsseldorf
Jan. 16, 2018

There is a topic that has, surprisingly, been the subject of controversial debate for years: do prescription products need branding? If we look at the current developments in the industry, the only answer to this question is a clear “yes.”  

The pharmaceuticals industry is – and is set to remain – an extremely competitive one. In addition, many patents for so-called blockbuster products, which have so far guaranteed a large part of the industry’s sales, are set to expire over the coming years. This all impacts companies’ profitability and growth.  

And, while brand development often used to be reserved for over-the-counter (OTC) products, strategic brand management has now become a must for prescription products as well. The brand management process must begin before the product has been authorized and continue after the patent has expired.

From pharma product manager to pharma brand manager 

In order to remain successful in the market, the marketing departments of pharmaceutical companies must be strategically realigned. This also applies to the job description of marketing executives; they now have to become brand managers instead of product managers.  

But what’s the difference? While product managers primarily use their comprehensive knowledge of the product to increase sales, brand managers are strategists. They are the ones responsible for brand management, development, and positioning – regardless of what the actual products are. Just like in the FMCG market, brand managers must clearly identify the brand essence and the brand identity of the prescription products and continually nurture them.

Read the full article

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