Friday, September 16, 2022

Pharmaceutical branding


Pharmaceutical branding

Branding is such an important aspect of business that even seemingly boring products like pharmaceuticals, drugs, and medicines become interesting and exciting.

Pharmaceutical industry branding is immature compared to consumer and business-to-business segments, but that's largely by choice. For decades, the formula for a pharmaceutical company's brand success was simple: discover a drug that was needed, present it to the doctor through a sales representative, and watch as prescriptions were filled. What's more, the products themselves, secured under a decade of patent protection, were almost guaranteed to generate big profits. Integrated brand strategies were unknown and unimportant. A scientist, whose role was discovery and development, not marketing, ran the corporation.

Gone are the days when companies used to launch products without giving much thought to the brand, especially the pharmaceutical brand. Now, pharmaceutical companies are starting to work on pharmaceutical brand development even before the product is fully tested and ready for production.

Pharmaceutical branding is an important way of raising public awareness of the potential benefits of drugs and medicines. The marketing process and branding give the public a quick insight into what the product is all about and thus induce them to purchase that particular product among many other similar products in the market.

As more and more pharmaceutical companies begin to realize the importance and power of brand names. So how do companies brand their products to stay ahead of the competition? To start with a good name is important. In fact, a great name is very important! A great name can increase a product's brand value and, in turn, revenue, while a poorly chosen name can spell disaster for the product.

Marketing teams spend more and more resources on getting the pharmaceutical product name right. However, naming a drug or medication is not the same as naming an electronic consumer product. Careful thought and consideration of all important factors for a pharmaceutical product is required.

If the product is to be sold internationally, the name should not be incorrect when translated into local languages.

The second most important part of pharmaceutical branding is the product logo design. The logo must be in tune with the target market with the exact font and colors. Iconic pharmaceutical logo design or illustrative logo design can create a great impact on consumers.

Then comes the packaging. The packaging of pills and other pharmaceutical products is very important. Like the name, the packaging and the pill may not resemble other products that may be on a nearby shelf.

Psychological issues are also carefully examined. Take the pill form and color. If a pill is large and may seem difficult to swallow, dark colors such as black should be avoided because they make it appear even larger. If the pill has high levels of toxicity, then a "hot" color like red is avoided because it subliminally gives off a sense of threat, experts say.

The pharmaceutical brand also relies heavily on marketing and promotional materials. Everything from the brochures to the product brochure should be designed to reflect the brand and appeal to the target market. Children's pharmaceuticals should have brightly colored trim and packaging to appeal to children.