A Study of Marketing Strategies of Pharmaceutical Industry in India

Abstract

Indian pharmaceutical industry is growing with leaps and bound. The growth in Indian pharmaceutical companies is not only in terms of market capitalization but its affordability and availability is also appreciable. Modern day’s pharmaceutical businesses are very complex. Earlier the businesses were using easy marketing tactics to meet the needs of market. Medical products could easily build their brand status. Building brand trust, attracting purchase, creating brand affect and brand loyalty was easier. Marketing and branding revolve around media, message repetitions, recall value and creativity.  In present study the Indian pharmaceuticals companies’ branding techniques have been studied. It is never possible to observe the impact in general and about all the branding techniques used by companies. The study is based on a survey of 500 respondents. We have taken four hypotheses related to the issue. For the testing of hypothesis correlation (r) and multiple correlation coefficient(R) is calculated. Further we have mentioned the other findings that we came across while study that can contribute to the marketing of pharmaceutical products.