Chapter 14 - Pharmaceutical Branding

Question 1

What are pharmaceutical companies more interested in than acquiring and more effectively exploiting another’s brands?

Answer 1

They are more interested in acquiring another companies R&D and sales & marketing assets.

Question 2

What event started a new trend in the marketing of medicines over 100 years ago?

Answer 2

When Thomas Beecham recognized the importance of branding his safe and effective new laxative, “Beecham’s Pills”.

Question 3

At what point should brand strategy development begin?

Answer 3

During Phase II clinical development.

Question 4

Functional values

Answer 4

“What the brand does for me.” For Excedrin, these values might be “fast”, “effective”, and “no side effects”.

Question 5

Expressive values

Answer 5

“What the brand says about me.” For Tide that might be a caring housewife and mother”.

Question 6

Central values

Answer 6

“What the brand and I share at a fundamental level.” For Coke, that might be “citizen of the world”.

Question 7

Efficacy

Answer 7

Does the product work in its chosen therapeutic area? Will patients get better as a result of taking this product?

Question 8

Safety

Answer 8

Is the product safe to take, and without side effects?

Question 9

Convenience

Answer 9

Does the product have a complicated dosage requirement? Does it have an unpleasant way of being taken?

Question 10

Cost-effectiveness

Answer 10

The cost of new drugs is often seen as a barrier to compliance.

Question 11

It is rare for pharmaceutical companies to explore, develop, and promote expressive values with which patients might identify. True or false?

Answer 11

True.

Question 12

Name the 6 stages of brand strategy development

Answer 12

Brand positioning, brand personality, brand values, unique values of the brand that support the values, how the brand appears to its audience, and internal commitment.