The Indian Pharmaceutical Market (IPM) was valued atRs. 10,025 crores in the month of July 2016 clocking a 14.7% growth over same period last year (SPLY). This was the first time ever the market crossed the 10,000 crore mark in a single month.
K. Hariram reports on the OPPI 50th Annual General Meeting held in Mumbai on October 21. The report also features photos from the conference. Other topics covered include the role of emotions in pharma marketing, the importance in preparing much before-hand for the next level of your pharma career and the concept of the "tipping point" and its relevance for pharma marketing.
Pharmaceutical & medical devices Industry is fast adapting to these changes at various levels of the value chain. Billions of dollars are being spent on digital transformation projects ranging from usage of AI & ML in product development, production and predictive maintenance, Blockchain in supply chain and data management & analytics in strategic decision making.
This article focuses on Omnichannel marketing, one of the key digital transformations that the industry is learning and implementing at a rapid pace.
Omnichannel Marketing: Promise and Possibilities
An industry that historically focused all their brand building and market shaping efforts through F2F meetings & medical education programs has started making giant strides in multi-channel strategy now.
A digital journey that started with an e-detailing platform has progressed fast by adding brand websites, Approved E-Mails, social media, webinars and other media effectively creating a multi-channel strategy. The only hindside to this is, all these channels work independently, expecting HCPs to find and sort out information themselves.