Brand Management In The Pharmaceutical Industry Is Discussed

Brand administration is an important content in the Modern Marketing area. It is widely used in the field of product marketing strategy and administration. Brand and the value of Brand have become the criteria for public to recognize the product and its value. Especially in recent years, Brand is becoming the only mean for product differentiation from other similar product. Companies gain competitive advantages from special strategy of Brand administration.Medicines are special merchandise which are related to public health and safety. It is different from other merchandises. The production, sale and advertisement of medicaments in the pharmaceutical industry are strictly regulated by government. Because customers are lack of knowledge about medicines, their acts of choice and purchase of drugs are heavily affected by doctors who can prescript the medicaments. Due to the specialty of pharmaceutical industry, drug's Brand administration has its own characteristics. The strategies for Brand administrations in prescript drugs and non-prescript drugs, patent protected drugs and drugs out of patent protection are different due to the different regulation from the government and market characteristics. In the international pharmaceutical industry, particular attention has been paid on development and administration of Brand drugs. Discovery, development and commercialization of new products are very important for companies to gain market share, but the successfully establishing and maintaining of the Brand for commercialized product is also becoming more and more important for corporations to gain market share and keep competitive advantages. For the well-known international pharmaceutical companies, successful administration of Brand drugs has become an important strategy to extent the life of Brand productions and gain profits from the Brand products. In China, the capability and technology for pharmaceutical industry to discover and develop new drugs are relatively low. The pharmaceutical companies in China are also relative smaller. Compare to developed countries, there is a big gap for Chinese pharmaceutical companies to catch up. However, China is largely populated country and the Chinese economy is rapidly growing. In recent years, the growth rate for the pharmaceutical industry is keeping 15% annually and far higher than the global average level. It is expected that China will become the largest drug market in 2050. In this huge potential and rapidly growing industry, it is very important for the pharmaceutical companies to develop strategy in order to occupy the advantage position in the highly competitive and rapidly expending market. The pharmaceutical companies must face and think about how to develop long-term business strategy according to the companies' characteristics and present situation. It will be vital for the drug companies to develop business strategy by following the trends of global drug market, and building and maintaining Brand Name drugs.Brand administration is the major research content of this paper. This paper includes five parts: Description of the definition of Brand administration; Analyzing present situation and characteristics of the pharmaceutical industry, the specialty and importance of Brand drug administration; Emphasizing the strategy, plan and execution of Brand drug administration, Brand administration in the field of non-prescript drugs, and the effect of advertising, public relation and face-to-face sale in the Brand drug administration. The purpose of the paper is to propose that in the more and more strongly competitive drug market, the pharmaceutical companies must pay attention to the Brand drugs building and administration, put Brand administration in the business development strategy, plan Brand strategy and execute the plan for Brand administration at the beginning of the commercialization of product, and build strong Brand Name in the course of sale and marketing, thus to increase the royalty of the customers and make more p...