Wednesday, November 22, 2006
First of all I am happy with the current trends of intensified marketing communication activity through newer and newer means including 'paid blogging' and social network marketing. This makes people put marketing first in the pharma space. And this trend is the way it should be.
Today in India and Bangladesh micro credit is a big thing in the financial domain. How did this happen? This happened because Mohd Yunus of Grameen Bank put the market first, he identified a target market for micro finance and thus realised profits for his firm and made social contributions. ICICI in India is on the same pathway, which is a wise marketing effort.
In fact the bane of the pharma field is the hyperfocus on intellectual property, patents, patent life and evergreening of products. Marketing is not taking the front seat. In fact, the obsession on drug patent(s) and TRIPS is causing much hardship in making drugs and health care products available at an economical price. Morever, having patent rights is itself a great source of income for pharma companies, thus many other good molecules and drugs that are beyond the ken of patents are not picked up for commercialization and/or intensive marketing by big pharma companies. In fact, it is not an exaggeration to say that pharma companies are more in the business of intellectual property, patent holdings & evergreening products rather than marketing products. In fact this innovation led business activity is said to be the highest of profitable business models, where in the focus is on innovation and creating intellectual property and gaining value, rather than marketing products based on target audiences. So who cares about health and societal or market needs when the focus of pharma companies is on intellectual property, patents, monopoly markets for products, profits and big bucks(?)
In fact, google is creating a revolutionary 'flat world' and seamlessly allowing exchange of ideas, information and comments across geographies. Google is doing a great marketing job, they are putting marketing first. And putting marketing first should be the priority for pharma companies too; it should not be patents first for pharma companies. - SUNIL S CHIPLUNKAR