Pharma Marketing Management 8 Semester Notes

 

Semester 8

BP803ET. PHARMA MARKETING MANAGEMENT (Theory)

Scope: The pharmaceutical industry not only needs highly qualified researchers, chemists and, technical people but also requires skilled managers who can take the industry forward by managing and taking the complex decisions which are imperative for the growth of the industry. The Knowledge and Know-how of marketing management groom the people for taking a challenging role in Sales and Product management.

Course Objective: The course aims to provide an understanding of marketing concepts and techniques and their applications in the pharmaceutical industry. 

Unit I 

Marketing: Definition, general concepts and scope of marketing; Distinction between marketing & selling; Marketing environment; Industry and competitive analysis; Analyzing consumer buying behavior; industrial buying behavior. 

Pharmaceutical market: Quantitative and qualitative aspects; size and composition of the market; demographic descriptions and socio-psychological characteristics of the consumer; market segmentation& targeting.Consumer profile; Motivation and prescribing habits of the physician; patients' choice of physician and retail pharmacist. Analyzing the Market; Role of market research.

Unit II 

Product decision: classification, product line and product mix decisions, product life cycle, product portfolio analysis; product positioning; New product decisions; Product branding, packaging and labeling decisions, Product management in the pharmaceutical industry. 

Unit III 

Promotion: Methods, determinants of the promotional mix, promotional budget; An overview of personal selling, advertising, direct mail, journals, sampling, retailing, medical the exhibition, public relations, online promotional techniques for OTC Products.

Unit IV 

Pharmaceutical marketing channels:

Designing channel, channel members, selecting the appropriate channel, conflict in channels, physical distribution management: Strategic importance, tasks in physical distribution management.

Professional sales representative (PSR): Duties of PSR, the purpose of detailing, selection and training, supervising, norms for customer calls, motivating, evaluating, compensation and future prospects of the PSR.

Unit V

Pricing: Meaning, importance, objectives, determinants of price; pricing methods and strategies, issues in price management in the pharmaceutical industry. An overview of DPCO (Drug Price Control Order)and NPPA (National Pharmaceutical Pricing Authority). 

Emerging concepts in marketing:

Vertical & Horizontal Marketing; RuralMarketing; Consumerism; Industrial Marketing; Global Marketing.

Recommended Books: (Latest Editions)

1. Philip Kotler and Kevin Lane Keller: Marketing Management, Prentice Hall of India, New Delhi

2. Walker, Boyd and Larreche : Marketing Strategy- Planning and Implementation, Tata MC GrawHill, New Delhi.

3. Dhruv Grewal and Michael Levy: Marketing, Tata MC Graw Hill

4. Arun Kumar and N Menakshi: Marketing Management, Vikas Publishing, India

5. Rajan Saxena: Marketing Management; Tata MC Graw-Hill (India Edition)

6. Ramaswamy, U.S & Nanakamari, S: Marketing Management:Global Perspective, IndianContext,Macmillan India, New Delhi.

7. Shanker, Ravi: Service Marketing, Excell Books, New Delhi

8. Subba Rao Changanti, Pharmaceutical Marketing in India (GIFT – Excel series) Excel Publications.