Market Report Source

Overview

Introduction
Existing sales and marketing models are considered unsustainable. Pharma has been slow to adapt and take advantage of the marketing opportunities offered by the internet. Meanwhile customers are increasingly using the web to source information. Pharma needs to evolve and engage with their customers online, or risk being left behind.
Scope of this report

• Overview of the current challenges facing existing sales and marketing models.
• A review of online activities of physicians and patients and how Pharma companies are currently targeting customers.
• Analysis of Pharma companies current online strategies supported by case study analysis.
• Review and recommendations of new media strategies Pharma could potentially consider.

Research and analysis highlights

• Rising healthcare cost, P&R controls public skepticism of Pharma companies and legal issues have made the current sales and marketing model unsustainable, they need for specialized sales forces and increased use of the internet as a customer information resource.

• Increased access to the internet has led a growth in physician and patient websites. Pharma companies need to move forward from the traditional company website and actively engage with its customers.

• The rise in social media, blogging forums opens up potential opportunities for Pharma marketers, also there are a variety of mediums such as podcasts and live video detailing which are currently underutilized.

Key reasons to read this report

• Understand the opportunities and threats facing Pharma companies existing sales and marketing models.
• Provides an overview of Pharma’s current online strategies and how they are failing to make an impact.
• Identification of new media opportunities that Pharma could undertake to engage with their target audiences online.

Table of Contents

CHAPTER 1: EXECUTIVE SUMMARY
Scope of the report
Key findings

CHAPTER 2: CHALLENGES FACING EXISTING SALES AND MARKETING MODELS
The current Pharma sales and marketing model – why it is no longer sustainable – Price and reimbursement controls – Changing working practices – limited time – Public skepticism of the pharmaceutical industry and its impact on communication – Legal issues facing Pharma company communication strategy – Adverse event reporting is an additional consideration

CHAPTER 3: CURRENT SALES AND MARKETING INITIATIVES TO TARGET PHYSICIANS AND PATIENTS
Targeting physicians – Evolution of the representatives role – Physician-specific websites – How pharmaceutical companies engage with physicians online – Targeting patients – Online patient groups – Opportunities and obstacles to targeting patients online
What are pharmaceutical companies doing to reach doctors online? – Pharmaceutical companies existing online strategies – Other technology strategies employed by Pharma

CHAPTER 4: NEW MEDIA OFFERS A VARIETY OF NOVEL OPPORTUNITIES TO PHARMA
Podcasts: an under used resource by Pharma
Increasing popularity of live video detailing
YouTube: future potential in DTC advertising
Video gaming: interactive learning for physicians
Viral marketing: powerful promotional tool – Case study: Bayer explores viral marketing
Second Life: virtual opportunities for Pharma – Possibilities for Pharma

BIBLIOGRAPHY
Websites
Articles
Datamonitor reports
Glossary of terms

APPENDIX

LIST OF TABLES
Table 1: Average time physicians spend viewing campaigns

LIST OF FIGURES
Figure 1: Cost containment tools in the healthcare industry, 2007
Figure 2: Approximately how often do doctors see a drug rep
Figure 3: EU users who access websites directed at US audiences
Figure 4: Prescribing influencers in the UK primary care setting
Figure 5: Allocation of interactive marketing budgets of US Pharma marketers by marketing tactic, 2007 (% of respondents)
Figure 6: Drivers and resistors of patient empowerment
Figure 7: Internet penetration in all major markets, 2007
Figure 8: How recently have you done the following activities?
Figure 9: Positive and negative aspects of pharmapatient marketing
Figure 10: Pharmaceutical company webpage features
Figure 11: Preferred information sources for physicians, 2007
Figure 12: Possible outcomes from Pfizer & Sermo collaboration
Figure 13: New digital media that pharma could explore further
Figure 14: Virtual hospital in Second Life
Figure 15: Virtual meeting room in Second Life