For commercial organisations, profits are important. But it cannot be 'at any cost' and certainly not at the cost of human life. As healthcare providers helping to mitigate the pain and misery of millions of human beings, we need to remember that charity begins at home.

Pharma companies that used large field forces for multiple divisions, selling the same me-too products to create a resounding Share-of-the-Voice in the market are beginning to Stare-at-the-Diminishing-Returns for investments on traditional sales and marketing strategies, if they can be called strategies at all in the first place. Most pharma companies and professionals like Black & Yellow cabs, continue to hope against hope, that somehow they will be able to continue to hold on to their businesses and jobs till their shares are sold and EMIs are paid. After that, who cares? The answer to pharma and healthcare’s challenges will need a combination of profound domain knowledge and experience combined with digital skills to engage Rx customers meaningfully.

It is heartening to see that Pharma marketers have...

In the lockdown, while I was on regular OPD and ICU rounds at a COVID hospital, I started noticing some mild symptoms of the Coronavirus infection. Being in the medical field and considering the severity of the pandemic situation then, I was very careful and cautious, and observed the symptoms closely. The symptoms persisted and I had to self-quarantine until the medical test reports came. It was important for me to isolate myself from the rest of the medical team and prevent the spread of the virus. Finally, the report came: I was COVID positive! Stunned and slightly devastated; I broke the news to my family who could not believe it either. As a doctor, I could only treat, comfort and empathize with the COVID patients undergoing treatment; completely isolated from their loved ones. But now, I could actually feel the uncertainty of the situation. I was hospitalized and continued to experience body-ache during the admission. It was a stressful situation where I felt anxious and stressed about everything. My CT scan reports showed mild lung infection on the day of admission but as the cytokines storm developed, my lungs were 76 % damaged in 3-5 days and I was short of breath and my oxygen level deteriorated to less than 80.  I was shifted to an ICU with high-flow oxygen and was on a BiPap machine which I had purchased a few weeks ago for the hospital and never imagined that I would be using myself one day.

Going digital is not about Social media or Omni channels. Is it about asking simple questions. Best Buy is one of the largest electronic good retailers in USA. Few years ago Best Buy was threatened by what is now known as Showrooming effect. Basically customers would walk into its showrooms get benefitted by the advice of the salesperson, decide on the model and then go online to buy the product on Amazon because of low prices. Despite having one the best footfalls in the decade Best Buy recorded reduced profits. Although it did try to Price match Amazon they knew it was not a long-term solution because of its cost structure (Physical showrooms, salespeople etc). They couldn’t block the customers from checking price of product on Amazon. Future looked uncertain, everyone thought game over for Best Buy which was the case with many other retailing giants. No amount of investing new technology would have helped Best Buy . Best Buy relearned how to make profits. Best Buy proposed to the manufacturers that they compensate Best Buy for exclusive showcasing of manufacturers new products. Manufacturers also could  launch specific brand kiosks within Best Buy showroom for a fee. This new model which had zero investment for Best Buy dramatically increased its profitability. Is this a ground breaking innovation? Of course NO. This has already been  practiced in other industries but for the first time tried in Electronic good Retail. Best Buy realized apart from consumers it created lot of value for manufacturers therefore it captured the value lost from consumers from manufacturers. What is my business? What is my business ecosystem? How do I currently make money? How changing one thing impacts my ecosystem? What are the options available?

India pharma is crucial for global healthcare, providing affordable...

India's top 10 pharma companies by market capitalization, offering insights into...

1. Market Overview The oncology sector remains the most dominant...

Introduction For decades, leaders and organizations have relied on the...

India pharma is crucial for global healthcare, providing affordable...

India's top 10 pharma companies by market capitalization, offering insights into...

1. Market Overview The oncology sector remains the most dominant...

Introduction For decades, leaders and organizations have relied on the...

India pharma is crucial for global healthcare, providing affordable...

India's top 10 pharma companies by market capitalization, offering insights into...

1. Market Overview The oncology sector remains the most dominant...

Introduction For decades, leaders and organizations have relied on the...

India pharma is crucial for global healthcare, providing affordable...

India's top 10 pharma companies by market capitalization, offering insights into...

1. Market Overview The oncology sector remains the most dominant...

Introduction For decades, leaders and organizations have relied on the...