How Does A Brand Set in the market”? How much time required for a trade name to become Brand?

Last updated on January 1st, 2018 at 12:25 pm

How to establish a brand in pharma market



Query:

I started my company in 2010, apart from general ups
and downs my company is  doing well. I am
regular reader of your blog and I really want to appreciate that your blog is
very informative and useful.
I have a question to ask, as it’s been almost 6
six years I am running my business successfully (with my own registered brands,
only prescription based ethical sale in west and north Delhi.
 My question
is “How a brand is set in the market”? How much time it takes to settle a brand
in a particular area if the sale is good?
Response:
Selling and Branding is two different terms used
in marketing and sales.  Selling is to
sell any product to opposite person while branding is to make presence in minds
of customers so when they require these type of product, they always ask about
your product from retailer. For making a brand, you have to invest time and
money to tell people about yours products trade name, its use, what is the
benefits of it, how it can change their life, how can they feel special with it
or it is superior in all aspects from its competitor brands.
‘How does a brand settle in market?’ we will discuss
below. First discuss about time period. There isn’t any time limit when we can
say any brand can settle into market. A brand requires continue effort to stand
it in market. Once you leave to work, your brand will start to decline in
market. Its competitive market and at any level, we can’t say our brand has
been set into market. So keep continues effort to take it next level.
Branding takes time, money and involvement. Giving
advertisement at electronic media, paper media or internet is not Branding, it’s
beyond all these. We call a trade name as Brand when people start to discuss
about it, they remember its name when they need this type of product. For
building brands, we have to create involvement of our customers in product
development, uses, advertisement etc. Brand doesn’t sell itself but people
purchase it. Brand becomes habits.  Customers
feel half-filled without their favorite brands. Brand provides education,
teaching, knowledge and benefits of particular thing.  Brand doesn’t tell anyone to purchase itself,
but provide value to customer’s life.  In
respect of this value customer purchase it. Most recent Brand icon is
Patanjali. We will discuss about it but before discussing it have look at more
MNC brands.
Many big brands create their presence by providing
freebies or solving people suffering. When cola drinks entered into Indian
market, they used to distribute free at railway, bus stands to create habit of
its taste.  After some time when people
started to use it and become habitual they started to make profit from it. They
created a mind set in their customers that cola drinks can provide permanent
relief in summer heat or they attach it with courage, risk, frankness etc. They
create it as status symbol and replace all traditional products from market. Likewise
when a famous Shoe brand entered into market, they elaborated health benefits
of running.
In pharmaceutical sector, there is different way
to set a trade name as Brand. 
Pharmaceutical products are used for prevention, cure of treatment of
any disease and condition. They are not related to luxury or status. They
become brand by creating trust in mindset of user only. Doctor is most
trustworthy person in healthcare system. People believe them like God. When
they prescribe or recommend any thing, people start to follow it. In
pharmaceutical and healthcare sector Brands is created with combinations of advertisement,
knowledge, free distribution health camps, education, and doctors.
(We are not disclosing brand name for preventing any misconduct, only initial letter is indicating)
Look at example of Vo—(Very Famous pain relief gel). Vo— doesn’t become
brand only through Advertisement. Doctor’s involvement also play important role
in establishing it as brand.  It was the combination
of above methods. Company promoted it as Doctor’s trusted and self used brand. From
one side company promoted it through all media & advertisement channels and
from other side company concentrate at doctor’s prescription. It makes presence
in all Doctors, healthcare professionals and customers’ mind-set.
Co—–(Famous Toothpaste name) does the same. Along with heavy budget at
advertisement, Co—– provides the sample to dentist. Sponsors dental check-up
camps and inspire them to prescribe Co—– to users. Advertisement creates
presence in customer mind where as prescription build trust in customer. Along
with time people started to consider it superior as compare to its competitors.

How to build a brand:


Branding is most difficult thing for any business.
Branding is prime motive for every business, company or product. But question
arises how can a trade name become brand?
 Is there
any method or way to build a brand? What are the steps to establish a Trade
name as Brand?
Every expert will have his own opinion and number
of article has been written at this topic. Branding requires either time or
money or both. It’s not an overnight process. Process of branding is one way
process. You have to invest your time and money without knowing you will become
brand or not. It’s like a sale campaign, you do it to increase sale but you
don’t know how much it becomes successful.  
There is not guaranteed success but practice makes a person perfect and
company strategy too.
No one can predict how much time any product’s
name will take to become Brand. It makes take less than six month or more than
six years or much more. It depends at usefulness, uniqueness, application,
uses, availability and many other factors. Marketing Guru’s always talk about
5P’s strategy to become successful in marketing. 5P’s means Product, Price,
Promotion, Place and People. Company or person must concentrate at these 5P’s
for Branding.
Before entering into brand building, you must
ensure about 5P’s before taking further step.

Few methods for Building Brand in Pharmaceuticals
Sector:

Doctor’s Prescription:
Doctor’s prescription is account of nearly 90% of
sale in Pharmaceutical sector. That’s why we account it as first position in
brand building. Whether a product is prescription, OTC or herbal/ayurvedic,
personnel care or nutrition, doctor’s recommendation make it compulsory for
consumer to purchase it. And secondly Schedule H drugs can’t be sell-out
without prescription. Many healthcare products’ advertisement is based at
doctor’s recommendation. For becoming Brand you have to capture attention and
make presence in their mind set. Along with sale, prescriptions also create a
trust about product in consumer’s mind. Way to generation prescription in
detail read here
Free Sampling and Health Check-UP camps:
Free sampling and Health check-up camps play important
role in brand building. Healthcare/medical check-up camps provide two benefits:
One, your product will reach to consumer’s home and second, it will become
trusty in eyes of customer as it is recommended by Doctor’s. Once it has been
used by customers, it will be asked to retail counters by many customers. It is
starting of any brand formation. At this step, you have to ensure that product
should be available at counter where these customers can go to purchase it.
Availability of your product at that level create a difference in further
processing. 
Promotion and Advertisements (Electronic/Print
media etc):
There is many ways of advertisement in
pharmaceutical market. OTC products can be advertised through any form of
media. Concentrate at best suitable form of advertisement. Promotion in
pharmaceutical sector can be done by way of generating awareness about any
particular disease or condition or by advertisement at medical books/news
papers/electronic advertisement etc. As we discussed above about few well known
brand, advertisement specially visualization create an impact at mind-set of
healthcare professionals as well as customers. If a person sees an
advertisement and same time a healthcare professional recommend it to him. It
build double trust and differentiate it from competitors.
Sponsor’s Seminars and Activities:
Sponsoring seminars create attention about any
product or company. It becomes matter of discussion in professional world. Once
all professionals become aware about any product or company, they start to
spread word about product or company. It also makes presence in news and social
media. Sponsorship is quick way to make presence in professional world.
Easy Availability and easy customer reach:
Availability is most important part in branding.
You invest time and money at above activities and when consumer goes to retail
counter and he doesn’t find your product there, yours all efforts result into
zero. Once he will return empty handed, there is minimum chances he will ask
next time about your brand. Before all above activities, work at ground level
for adequate and sustain availability. Proper distribution and supply chain is
must for ensuring availability of product. Read in detail about building strong
distribution channel.
Best results and Uses:
You can sell a product once or twice to any person
but it doesn’t provide him benefits, he will not purchase it regular basis.
Until it provides any benefits to end use, it can’t become Brand. It can’t
build trust in user’s mind.
Customer Support and services:
When a product will be entered into market, many
issue/queries will be raised. You should have strong back hand to solve
problems arise time to time.
Throughout
discussion, we discussed about many well known brands and rise of their
branding journey. Branding doesn’t always require money. Many times product or
service requires only such quality that can solve any problem and make life
easy. Due to this quality it becomes habit of its customers and replaces old
product or service. It solves its customer’s difficulty and problem. Most famous
example of this type of brands is Whats App. It replaces old massaging and way
to chat. These types of products neither require time nor money to become
brand.
In pharmaceutical market, innovation and creating
new & unique products is basis of Branding. Unique and innovative products
are of well accepted and prescribed by doctors. Doctors and healthcare
professionals are keen of innovative products. Stockiest and retailer are also like
new products. Negligible competition and demand take you at next level.

Before launching any product, consider 5Ps Factors:

Product:
Trade Name
Packaging
Quality
Promotion:
Sampling/Literature/Detailing
Medical/Healthcare/Drug Books
Seminars/Sponsors
Advertisement
Price:
Competitive Prices
Adequate Margin of company and supply chain
People:
Medical Representative and Marketing Staff
Representative should understand Market strength and
prescription habit of patients
Team Work
Place:
Regular Availability and Adequate stocking
Easy Availability to customer

Hope above information is useful to you. For any query & suggestion, mail us at pharmafranchiseehelp@gmail.com

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