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Innovate or Die: Medical Device and Drug Marketing Executives Called to Be the Change They Want to See
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Innovate or Die: Medical Device and Drug Marketing Executives Called to Be the Change They Want to See

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Albena Georgieva, Senior Summit Producer at marcus evans, highlights the discussions led by drug and device branding practitioners at the marcus evans PharmaBrand Summit 2011.

Albena Georgieva, Senior Summit Producer at marcus evans, highlights the discussions led by drug and device branding practitioners at the marcus evans PharmaBrand Summit 2011.

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  • 1. 27 - 29 June 2011 | Fairmont Le Montreux Palace | Montreux | SwitzerlandInnovate or Die:Medical Device and Drug Marketing ExecutivesCalled to Be the Change They Want to See Albena Georgieva, Senior Summit Producer at marcus evans, highlights the discussions led by drug and device branding practitioners at the marcus evans PharmaBrand Summit 2011.FOR IMMEDIATE RELEASEThe 8th Annual PharmaBrand Summit took place on 27 - 29 June 2011 in Montreux, Switzerland and welcomed some of the mostforward thinking pharmaceutical marketers and medical device branding experts, as well as top marketing agencies. The executivedelegation not only heard from marketing guru Seth Godin, but also had a rare chance to interact with professionals from non-pharma sectors, such as Godiva and ILKO-Illycafe.“The arrogance of success is to think that what you did yesterday will be sufficient for tomorrow,” once said William Pollard. Drugmarketing and product branding executives could not agree more. Disappointed that the Internet is still seen as new media anddisillusioned with the continuous resistance to product and marketing innovation within the pharma and medical device industries,PharmaBrand attendees seemed thirsty for a change.Over three consecutive days, drug and device marketers analysed game changers for their profession, such as mobile media whichis largely underutilised in pharma, but is rapidly penetrating emerging markets. Looking into social media usage among the elderly,the conclusion was unequivocal – it is high time to stop advertising and start communicating. Drug and medical devicemanufacturers can no longer ignore the conversations already taking place around them.Highlighting the importance of engaging patients and prescribers, Seth Godin called the audience to start actively addressing theproduct and service needs of the patients. To enable prescribers to provide relevant patient solutions and information, Godinadvised medical device and pharma marketing professionals to turn off their ‘lizard brain’, gain intimate knowledge of their tribesand start both innovating and involving.Each of the tribes has a differing understanding of value. While physicians focus on health technology, payers are looking forpatient-oriented evidence that matters. To secure market access, medical device and drug marketing professionals must tailormedical communications to relate value in an efficient manner to payers, as well as all stakeholders.Customer orientation, market middlemen and price competition are just as challenging in the food and beverage and luxurysectors. A universal goal of all marketing professionals is brand loyalty, and Godiva offered an excellent example of how to build aloyal following and maintain premium pricing. Medical device and pharma marketers also benefitted from the insightful case studyof ILKO-Illycafe’s marketing strategy in launching a new product category in ready-to-drink coffee beverages.The future is bright for those who push the limits of pharmaceutical marketing and medical device branding. Pharma must enticeand empower its stakeholders through engaging and targeted medical communications, methodical market access efforts and anaugmented value offering. To be the change you want to see, you must innovate or die. www.pharmabrandeurope.com
  • 2. 27 - 29 June 2011 | Fairmont Le Montreux Palace | Montreux | Switzerland Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division Tel: + 357 22 849 313 Email: press@marcusevanscy.com About the PharmaBrand Summit 2011 This unique forum will take place at the Fairmont Le Montreux Palace, Montreux, Switzerland, 27 - 29 June 2011. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on maintaining market share in the wake of generic invasions, conquering the new rules for reimbursement and getting inside the patient’s mind. For more information please send an email to info@marcusevanscy.com or visit the event website at www.pharmabrandeurope.com marcus evans group - marketing/sales sector portal Complementing our summit format, the Marketing Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations. Lend an ear to fellow experts and live news from our events on our LinkedIn and Twitter accounts! Please note that the summit is a closed business event and the number of participants strictly limited. About marcus evans Summits marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit www.marcusevans.com All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com www.pharmabrandeurope.com

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