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PHYSICIANS’ PERSPECTIVE FOR BRAND BUILDING IN PHARMACEUTICAL INDUSTRY: AN EMPIRICAL STUDY 


Dr. Laxmi Kirana Pallathadka1, Dr. Harikumar Pallathadka2*
Page No. 27-34


Abstract

Compared to other industries, the pharmaceutical industry has started exploiting the potential of brand management very late. Between 2013 and 2017, pharmaceutical companies started developing brand image instead of patents. The pharmaceutical industry started adopting brand-building strategies that tend to explore the potentials of branding that remained untouched in the pharmaceutical sector. Pharmaceutical companies needed to develop their brands to meet and sustain the competitive advantage, brands that would meet the fundamental requirements and bring differentiation in the minds of their customers. A brand name significantly contributes to a customer's purchase intention, particularly product differentiation, selection, and positioning. Additionally, pharmaceutical companies are using their brand names to differentiate their products from other competing brands in the market, from other packaging, symbols, trademarks, and logos. A sample of 120 respondents was collected through a "standard questionnaire," created on a five-point interval scale.
Keywords: Physicians Perspective, Brand Building, Pharmaceutical Industry, Brand Preference, Empirical Study


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