Vol. 7, No. 3: March 2008 – EXECUTIVE SUMMARY

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CONTENTS


Article Summaries

The Coming Pharma Marketing Recession

The U.S. has finally slid into recession, according to the majority of economists in the latest Wall Street Journal economic-forecasting survey.

Will the recession spread to the pharmaceutical industry and, in particular, lead to a slump in pharmaceutical marketing? Is the pharmaceutical industry already in a recession?

This article presents opinions and evidence that there is a slump in pharma marketing spending and provides some tips to vendors and ad agencies to help them the slump.

Topics and issues covered include:

  • What’s a Recession?
  • Reader Poll Results
  • Online Ad Spending Definitely Shrinking!
  • Does Recession Mean a Boon for Online Advertising?
  • Tips for Surviving the Recession, Slump, Slowdown, Whatever!

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Tips for Improving Pharma Sales

While small pharma can boast of several prominent breakthroughs in the research lab, Big Pharma still maintains an inevitable advantage in sales. However, Small Pharma companies have leveled the playing field here as well by adopting the sales techniques of their larger counterparts, particularly those that take advantage of business intelligence technology.

This article highlights five tips from OnDemandIQ designed to help Small Pharma focus and prioritize their sales teams on their most important goals — improving efficiency and boosting sales.

Topics and issues covered include:

  • Big Innovation, Small Sales Force
  • Five Tips to Better Sales – and a Better Sales Team
  • OnDemandIQ’s Business Intelligence Service
  • Dashboard View of Metrics
  • Software-as-a-service Model

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What Americans Think About Drug Advertising

The 2008 USA Today/Kaiser Family Foundation/Harvard School of Public Health Survey — “The Public on Prescription Drugs and Pharmaceutical Companies” — discovered the obvious; namely, “TV Drug Ads Prompt Viewers to Ask Docs for Rx.”

Although huge pharma profits and easy money have made marketing ROI analyses unnecessary, it doesnÂ’t require a survey to prove that direct-to-consumer (DTC) advertising works.

The survey, however, has some nuggets of information that give marketers further insight into the publicÂ’s attitude towards drug industry advertising. This article summarize these insights.

Topics and issues covered include:

  • Effectiveness of Drug Ads
  • Consumers Drive DTC Growth?
  • DTC Outcomes
  • Inform vs. Educate
  • DTC and Drug Prices
  • Income Disparity

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Closed Loop Marketing

Despite all the complaints about how little of pharma marketers’ budgets are devoted to Internet-based channels (ie, eMarketing), there’s always good attendance at industry conferences focusing on eMarketing and always something to learn by attending. This was the case for CBI’s 7th Annual eMarketing for the Pharmaceutical Industry conference, which I attended a few weeks ago in Philadelphia, PA.

This article is a review of the presentation “Where Should Closed Loop Marketing Really Begin?” by Bruce Grant, Senior VP, Business Strategy and David Wigder, Senior VP, Strategy & Analytics at Digitas Health. This presentation was focused on leveraging eDetailing for effective closed-loop marketing campaigns.

Topics and issues covered include:

  • Traditional PC-Tablet Closed-Loop Marketing
  • The New eDetailing Model
  • Identify Behaviors that Drive Value
  • Maximize Likelihood of Success
  • The Honoraria Roadblock
  • A Few High Hurdles to Overcome

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Pharma’s Social Media Marketing Readiness Score

Each pharmaceutical company has its own unique regulatory environment, corporate culture, and knowledge that will determine if it is ready to embark on social media marketing. In order to determine how ready pharmaceutical companies, their vendor partners, and other companies are for engaging in social media marketing, Pharma Marketing News is hosting an online “Rate Your Social Media Marketing Readiness” survey or tool. To date, about 108 people filled out the survey and received their personal Social Media Marketing Readiness Score.

This article summarizes the aggregate findings and presents the average scores against which you can compare your own score.

Topics and issues covered include:

  • Are Your Ready?
  • Survey Questions
  • Breakdown by Respondent Type
  • Regulatory Environment Benchmarks
  • Corporate Culture Benchmarks
  • Knowledge of Social Media Benchmarks

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