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Impact of Promotional Activities on Sale Volume of Pharmaceuticals

Impact of Promotional Activities on Sale Volume of Pharmaceuticals

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Globally, The pharmaceutical industry is under severe inspection. Government agencies, special interest groups and the media was closely observing the activities of pharmaceutical industry. Opponents condemn pharmaceutical promotional activities as useless and excessive wastage of resources. However, supporters of pharmaceutical promotions justify that marketing expenditures gave innovative chance to recover high R,D expenditures. Furthermore, marketing might serve as a communication channel to educate health care professionals and expose patients to information that may help to improve their health and gave medical treatment options.Pharmaceutical Promotional activities are distinct from other kinds of selling. It requires specialized efforts by the pharmaceutical companies to carve a niche for themselves for better market share in the marketplace with a great number of players in the market. In pharmaceutical market with a clutter of products, it is virtually impossible for a doctor or physician to remember all brands. This could be substantiated by looking at number of brands available in the market for the same molecule or drug.
Significance of Promotional Activities in Pharmaceutical Industry