Branding Internally Think Brand, Not Product
Given the extremely competitive environment in the pharmaceutical industry, product managers and product teams are finding themselves evolving into brand managers and brand teams. Indeed, studies show that most physicians do not know who makes the drugs they prescribe the most. And most patients will take a generic alternative if it lowers their cost. Creating brand loyalty as opposed to product loyalty allows marketers to maximize a product’s sales potential. However, this requires that brand teams understand the difference between the philosophy of “brand” versus that of “product.”
This article summarizes a presentation by Thomas Willard, Vice President of Marketing at Schwartz Pharma, Inc., made at the CBI Forum on Pharmaceutical Branding held August 14-15, 2003, in Princeton, New Jersey. Willard discussed the difference between ‘product’ and ‘brand’ and identified the personnel beyond the marketing team that should be encouraged to buy-in to brand thinking.
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PMN28-03
Issue: Vol. 2, No. 8: September 2003
Word Count: n/a
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