Market research on technological innovations in pharmaceutical marketing; Reliance Industries Limited

Abstract

Pharmaceutical marketing, sometimes called medico-marketing, is the business of advertising or otherwise promoting the sale of pharmaceuticals or drugs. Marketing to health care providers takes four main forms: gifting, detailing, drug samples, and sponsoring continuing medical education (CME). The industry has traditionally relied on aggressive marketing to promote its products. One recent study estimates that, between 1996 and 2005, total real spending on pharmaceutical promotions rose from US$11.4 billion to US$29.9 billion in the US (the only country for which expenditure on all major marketing and sales activities is available).2 Another study suggests that the true figure (including meetings and e-promotions) is closer to US$57.5 billion in real terms. Much of this increase in spending has gone on the expansion of the sales force. However, many of the industry’s biggest markets are now saturated with sales representatives, and its selling techniques are becoming increasingly ineffective.