Pharma Marketing Strategy

Knowledge

Strategy helps to proactively design a course of action and to keep all members of the organization aligned. It involves objectives, action programs, and resource allocations.

Strategy enables the company to define a long term sustainable advantages by responding to the current and future market opportunities and threats through optimal management of its strengths and weaknesses. It involves responsibilities and actions required from all hierarchical levels in the organization (corporate, business, functional). Since marketing is one of the functions, marketing strategy is the thinking which the company will follow to achieve its marketing objectives.

Marketing strategy is based on three main pillars: segmentation, targeting, and positioning.

Segmentations is classifying customers into groups, each group share similar need or want and can be targeted by the same marketing mix.

Targeting is the process of selecting the most attractive segments among all segments.

Positioning is the definition of the product perception in consumers minds, relative to competition, based on its attributes and benefits.

Once the strategy has been crafted, its implementation is made possible through the marketing mix (product, price, place and promotion) or the 4Ps.

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