Pharma Strategic Marketing Flashcards
What is a marketing strategy?
A business’s overall plan to reach and convert potential consumers into customers.
What are the key elements of a marketing strategy?
- Target market selection.
- Marketing mix (4Ps: Product, Price, Place, Promotion).
- Understanding customer needs.
- Creating a value proposition.
How is strategy defined?
“Strategy is deciding what not to do.”
What is marketing?
The science and art of exploring, creating, and delivering value to meet a target market’s needs at a profit.
Why do pharmaceutical companies market medicines?
- Raise disease awareness.
- Educate HCPs and patients.
- Provide information on treatment benefits.
Who are the key customers in pharmaceutical marketing?
Patients, HCPs, Healthcare Systems, Payers (NHS, insurers), Society (taxpayers), Regulatory Bodies.
What are the key considerations in pharmaceutical marketing?
- Understanding patient needs.
- Defining a Target Product Profile (TPP).
- Assessing unmet needs.
- Positioning the product.
When does marketing begin in drug development?
Marketing starts early and continues through patent expiry.
How does marketing evolve across drug development?
- Phase 1: Identify target disease & benefits.
- Phase 2: Define TPP & endpoints.
- Phase 3: Position & differentiate product.
- Launch: Messaging & sales strategy.
- Mid-Life Cycle: Expand market share using Real World Evidence (RWE).
- Late-Life Cycle: Maintain sales.
- Loss of Exclusivity: Plan for generics or OTC conversion.
What are the three levels of marketing teams in pharma?
- Global Marketing: Sets overall brand & regulatory strategy.
- Regional Marketing: Adapts strategy for different geographies.
- Country Marketing: Manages local launches & campaigns.
What is the role of a TPP in pharma marketing?
- Drives product differentiation & success.
- Guides clinical trial design.
- Determines pricing & market access.
What are the key components of a TPP?
- Efficacy & endpoints.
- Safety profile.
- Dosing & Route of Administration.
- Market access strategy.
- Regulatory considerations.
How do regulatory requirements differ between the US and EU?
US: Often requires placebo-controlled trials. EU: Often requires active comparator trials for cost-effectiveness.
What role does a regulatory label play in marketing?
Defines what can be claimed in promotional materials, ensuring compliance with approved indications & safety profiles.
What types of marketing claims are allowed?
✔ “Once-daily treatment for XYZ condition.”
✔ “Superior efficacy compared to standard of care.”
✔ “No dose adjustment needed for hepatic impairment.”
✖ Cannot promote off-label uses or directly market to consumers (except in the US).
What are key elements of a brand plan in pharma?
- SWOT Analysis.
- Market Segmentation.
- Positioning & Messaging.
- Tactical Execution (campaigns, sales strategies).
What factors impact the price and market access of a drug?
- Storage requirements (cold chain logistics).
- Route of Administration (IV requires hospital settings).
- Reimbursement policies (varies by country).
What are key pharmaceutical marketing tactics?
- Disease Awareness Campaigns.
- Medical Education (KOL engagement).
- Real World Evidence (payer negotiations).
- Market Share Strategies.
How does marketing differ for prevalent vs. rare diseases?
Prevalent diseases: Require large-scale campaigns.
Rare diseases: Focus on specialist engagement.
What are the main pharmaceutical marketing regulators?
UK: ABPI Code & PMCPA.
EU: EFPIA.
US: FDA (allows direct-to-consumer advertising).
What are the main takeaways from strategic marketing in pharma?
- Marketing influences every stage of drug development.
- Understanding market needs is key.
- Regulatory compliance is essential.
- Marketing is as much about what NOT to do as what TO do.
