Pharmaceutical Marketing At Merck

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Pharmaceutical Marketing At Merck

  1. 1. Pharmaceutical Marketing at Merck
  2. 2. Marketing at Merck <ul><li>Merck Human Health Divisions </li></ul><ul><ul><li>Asia Pacific </li></ul></ul><ul><ul><li>Europe, Middle East, & Africa </li></ul></ul><ul><ul><li>The Americas (US Human Health, Canada, Latin America) </li></ul></ul><ul><ul><li>Worldwide Human Health Marketing </li></ul></ul><ul><li>Merck Vaccine Division </li></ul><ul><ul><li>U.S. Vaccine Marketing </li></ul></ul><ul><ul><li>Merck Vaccine International </li></ul></ul>
  3. 3. Pharmaceutical Industry Characteristics <ul><li>Highly Competitive but Fragmented industry </li></ul><ul><li>Complicated business model with numerous stakeholders </li></ul><ul><li>Very Technical/Scientific products </li></ul><ul><li>Major R&D expenditures and High Risk product development environment </li></ul><ul><li>Long Product-Development Timelines </li></ul>
  4. 4. Pharmaceutical Marketing Characteristics <ul><li>Long Marketing-Planning horizons </li></ul><ul><li>Highly regulated industry and highly regulated marketing communications by FDA </li></ul><ul><li>Primary targets: Healthcare Professionals and Consumers </li></ul><ul><ul><li>Numerous “customers” with variety of information needs requires multiple approaches to creating marketing campaigns and communications </li></ul></ul><ul><li>Evolving selling environment </li></ul><ul><li>Use of e-channel still in its infancy in our industry </li></ul>
  5. 5. STAGES OF PRODUCT DEVELOPMENT Role of Marketing <ul><li>Recommend development </li></ul><ul><li>Define product profile needs </li></ul><ul><li>Define comparators </li></ul><ul><li>Define Outcomes Research needs </li></ul><ul><li>Develop market </li></ul><ul><li>Develop strategy </li></ul><ul><li>Input on product labeling </li></ul><ul><li>Recommend filing strategy </li></ul><ul><li>Define launch plan </li></ul><ul><li>Develop positioning and branding </li></ul><ul><li>Finalize strategy </li></ul><ul><li>Finalize pricing </li></ul><ul><li>Finalize promotion and branding </li></ul><ul><li>Implement launch campaign </li></ul><ul><li>Finalize field sales plans </li></ul><ul><li>Monitor performance </li></ul><ul><li>Adjust strategy and tactics </li></ul><ul><li>Sequence promotion </li></ul><ul><li>Manage product life cycle </li></ul><ul><li>Provide background on market and product potential </li></ul>Postlaunch Marketing Product Launch Regulatory Approval Clinical Studies Basic Research
  6. 6. Merck Marketing Principles <ul><li>Understand the customer’s perspective </li></ul><ul><li>Anticipate and outmaneuver the competition </li></ul><ul><li>Concentrate on selected audiences and behaviors </li></ul><ul><li>Define the product’s distinctive value to selected audiences </li></ul><ul><li>Plan for sequenced growth throughout the product’s life-cycle </li></ul><ul><li>Shape customer’s perceptions </li></ul><ul><li>Ensure that execution is efficient, consistent, and well integrated </li></ul><ul><li>Track results and re-evaluate decisions </li></ul>
  7. 7. Brand Management is the HUB of pharmaceutical marketing Market Research Marketing Communications Customer Marketing Pricing Analysis Business Development Professional Sales Medical Services Brand Management
  8. 8. Pharmaceutical Branding
  9. 9. Currently: Limited penetration and use of e-channel <ul><li>Unclear regulatory guidance </li></ul><ul><li>Limited e-commerce opportunity except with major wholesellers—EDI works fine </li></ul><ul><li>Difficult ROI measurement with consumers </li></ul><ul><li>Commitment to personal selling model with physicians </li></ul><ul><li>Challenging privacy issues </li></ul><ul><li>Physician role as “learned intermediary” has to be considered and respected </li></ul>
  10. 10. Consumers are increasingly being asked to take an “active role” in managing their healthcare <ul><li>Numerous treatment options and decisions to consider. Consumers are expected to “partner” with their physicians to consider risks and benefits and make choices. </li></ul><ul><li>Third-party payers and employers are adopting cost-sharing models of healthcare coverage. (Spending accounts, 3-tier co-pays, etc.) </li></ul>
  11. 11. Healthcare information is a Primary destination on the web <ul><li>BUT brings concerns about: </li></ul><ul><ul><ul><li>Credibility/Accuracy </li></ul></ul></ul><ul><ul><ul><li>Privacy Protection </li></ul></ul></ul><ul><ul><ul><li>Relevance </li></ul></ul></ul><ul><li>The Web Offers: </li></ul><ul><ul><ul><li>Speed </li></ul></ul></ul><ul><ul><ul><li>Convenience </li></ul></ul></ul><ul><ul><ul><li>Robust Resources </li></ul></ul></ul><ul><ul><ul><li>Anonymity </li></ul></ul></ul><ul><li>The changing e -Health Landscape: </li></ul><ul><li>In 1999 there were 750 health-information web sites </li></ul><ul><li>Majority based on “advertising revenue” model </li></ul><ul><li>Today there are ~ 50 such properties </li></ul><ul><ul><li>400 filed for bankruptcy </li></ul></ul><ul><ul><li>100 were acquired and then went out of business </li></ul></ul><ul><ul><li>200 closed or disappeared with no explanation </li></ul></ul>
  12. 12. Studies estimate between 73M-100M US Adults have gone online to look for health information <ul><li>73M or 62% with internet access using the Web to look at Healthcare information </li></ul><ul><li>68% of health seekers say the material affected their decision about treatments and care for themselves or a loved one. </li></ul><ul><li>61% of health seekers said the internet has improved the way they take care of themselves </li></ul><ul><li>Top Reasons: </li></ul><ul><ul><li>93% looked for info about a particular illness or condition </li></ul></ul><ul><ul><li>65% look for nutrition, exercise, weight control advice </li></ul></ul><ul><ul><li>64% looked for info on prescription drugs </li></ul></ul><ul><ul><li>55% gathered info before visiting a doctor </li></ul></ul>Source: “The Online Health Care Revolution”, “Vital Decisions”; Pew Internet & American Life, 11/26/00, 05/22/02
  13. 13. The internet provides new Opportunities for Pharmaceutical Companies <ul><li>We have complex, highly technical products </li></ul><ul><li>The empowered consumer needs information they can learn from and use in discussions with their physician </li></ul><ul><li>Educated customers have always been our best customers and we have a significant offline commitment to education </li></ul><ul><li>We are now bringing that commitment online to better meet our customers’ needs through the web channel </li></ul><ul><li>This new channel requires us to evolve from a “push” to a “pull” model as consumers demand greater control and convenience in how they access online healthcare information </li></ul>
  14. 14. What has Merck Done? Create Online Websites with Merck Product Information <ul><li>Integrated part of our marketing campaigns that provide additional information online </li></ul><ul><li>Can be accessed directly (www.product.com) or through links at our corporate site, 3rd party sites, or from banners throughout the web </li></ul><ul><li>Originated as “Brochureware” </li></ul><ul><li>Evolving towards greater robustness, interactivity, customization and permission-based marketing approach </li></ul><ul><li>Primarily Consumer Focused </li></ul><ul><ul><li>Developing an educational/ less advertising oriented approach to healthcare professionals </li></ul></ul>
  15. 15. Some Examples of Websites
  16. 16. What else has Merck Done? Create Online Medical Education Resources for physicians and patients <ul><li>MerckMedicus is a health-information portal designed to support the medical-education needs of physicians </li></ul><ul><li>MerckSource is a health-information resource for patients </li></ul><ul><li>Both sites offer objective, credible, evidenced-based resources to support the doctor-patient dialog </li></ul><ul><li>They deliver online on Merck’s commitment to support the medical-education needs of customers </li></ul><ul><li>“ Merck Manuals” of the 21st Century </li></ul>
  17. 17. Issues for our Industry <ul><li>The web promises instant access to all information, yet our regulated environment poses limits on how we can use this channel to meet customer expectations </li></ul><ul><li>Our traditional “product-centric” approach vs the “customer-centric” web environment requires adjustments in how we create and offer information to customers </li></ul><ul><li>Supporting and respecting the doctor-patient, payor and employer relationships while adequately serving the consumer is a challenging balancing act </li></ul><ul><li>Privacy Protection is critical. Healthcare status impacts employment and social relationships. </li></ul>
  18. 18. Where are we headed in the future? Towards more integrated offerings PULL PUSH Corporate Info Customer Focus Fully Integrated Information & Services Corporate, Product Focus Discrete Sets of Information Product Info Limited Interactivity Customization Personalization High Trust High Value Relationship Brochureware Enriched Product and Medical Education sites
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