Marketing Unit-5 B.pharma 8th sem PDF | PPT
Download the complete PDF and PPT for Pricing in Pharmaceutical Marketing and Emerging Concepts in Marketing. This material is essential for B.Pharma 8th-semester students and covers key topics such as pricing methods, strategies, DPCO, NPPA, and emerging marketing concepts like rural marketing, consumerism, and global marketing.
Keywords: Download PDF, Pharmaceutical Pricing, B.Pharma Notes, DPCO, NPPA, Rural Marketing, Global Marketing, Consumerism.
Marketing Unit-5: Pricing and Emerging Concepts in Pharmaceutical Marketing
In the pharmaceutical industry, pricing strategies and emerging marketing concepts play a pivotal role in shaping business success. This unit focuses on two major areas: Pricing and Emerging Concepts in Marketing.
Pricing in Pharmaceutical Marketing
Pricing is a critical element of the marketing mix, influencing both profitability and market share. Key aspects include:
- Meaning and Importance: Pricing refers to the process of determining the value of a product or service. It is crucial for revenue generation and competitive positioning.
- Objectives: Pricing objectives may include maximizing profits, achieving market penetration, or maintaining a competitive edge.
- Determinants of Price: Factors such as production costs, competition, demand, and regulatory policies influence pricing decisions.
- Pricing Methods and Strategies: Common methods include cost-based pricing, value-based pricing, and competition-based pricing. Strategies like penetration pricing, skimming pricing, and discount pricing are also widely used.
- Issues in Price Management: Challenges include price wars, regulatory constraints, and balancing affordability with profitability.
- DPCO (Drug Price Control Order): DPCO regulates the prices of essential drugs in India to ensure affordability and accessibility.
- NPPA (National Pharmaceutical Pricing Authority): NPPA oversees the implementation of DPCO and monitors drug prices to prevent overcharging.
Emerging Concepts in Marketing
The pharmaceutical industry is evolving, and new marketing concepts are gaining prominence:
- Vertical and Horizontal Marketing: Vertical marketing focuses on specific industries, while horizontal marketing targets a broader audience across industries.
- Rural Marketing: With increasing healthcare awareness in rural areas, pharmaceutical companies are expanding their reach to underserved populations.
- Consumerism: Consumers are becoming more informed and demanding, emphasizing the need for transparency and ethical marketing practices.
- Industrial Marketing: This involves marketing products and services to other businesses, such as hospitals and clinics.
- Global Marketing: As pharmaceutical companies expand internationally, global marketing strategies are essential to navigate diverse markets and regulatory environments.
This comprehensive guide provides detailed insights into pricing strategies, regulatory frameworks like DPCO and NPPA, and emerging marketing trends shaping the pharmaceutical industry.
Info!
If you are the copyright owner of this document and want to report it, please visit the copyright infringement notice page to submit a report.
