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Iimc main final
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Iimc main final
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Iimc main final

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  • 1. Social Media Connectivity in Pharmaceutical Industry Kiran Pedada Harish Shankar Pranay Veer
  • 2. Overview of Indian Pharmaceutical Industry • 1990 - INR 5,000 crores • 2009-10 - INR 1,00,000 croresTurnover • Domestic - INR 62,055 crores • Exports - INR 42,154 crores Indian Market • Volume - World’s 3rd largest producer • Value - World’s 14th largest • One of the Lowest priced markets in the world Position • 15.3% during 2011-12 to 2013-14CAGR (PE) • More than 20% of the world’s genericsProduction • Three out of the Global Top 10 fastest growing generic companies are from India Top Companies • Global Top 10 - Sales • Value - INR 2,50,000 crores Future (2020)
  • 3. Active Users - 100 crores (Oct, 2012) Active Users - 20 crores (Dec,2012) Video Views a day- 400 crores (Jan, 2012) To conduct a study to understand the connectivity of Indian Pharmaceutical companies on Social Media 1 • Whether people use online sources for health related information 2 • Whether entering a social medial platform help a Pharmaceutical company 1. To share health related information 2. Create brand awareness
  • 4. I N T E R N A T I O N A L COMPANY Facebook Twitter Youtube Likes Followers Tweets Subscribers Video Views AstraZeneca GlaxoSmithKline Johnson & Johnson Merck (US) Novartis Pfizer I N D I A N Dr. Reddys Cipla Ranbaxy (Volini, Revital) Glenmark* Sun Pharma Lupin
  • 5. I N T E R N A T I O N A L COMPANY Facebook Twitter Youtube Likes Followers Tweets Subscribers Video Views AstraZeneca 12009 17387 1053 126 25732 GlaxoSmithKline 69425 17405 1126 800 221683 Johnson & Johnson 38728 24507 3062 6493 7551651 Merck (US) 5866 8053 1087 206 19251 Novartis 20936 32190 2386 1688 561013 Pfizer 57721 36056 1100 501 733934 I N D I A N Dr. Reddys Cipla Ranbaxy (Volini, Revital) Glenmark* Sun Pharma Lupin
  • 6. I N T E R N A T I O N A L COMPANY Facebook Twitter Youtube Likes Followers Tweets Subscribers Video Views AstraZeneca 12009 17387 1053 126 25732 GlaxoSmithKline 69425 17405 1126 800 221683 Johnson & Johnson 38728 24507 3062 6493 7551651 Merck (US) 5866 8053 1087 206 19251 Novartis 20936 32190 2386 1688 561013 Pfizer 57721 36056 1100 501 733934 I N D I A N Dr. Reddys No Page 469 619 0 0 Cipla No Page 2117 67 0 0 Ranbaxy (Volini, Revital) No Page 566 12 34 39374 Glenmark* 75 No Page No Page 0 44 Sun Pharma No Page 544 126 0 0 Lupin 788 No Page No Page 0 0
  • 7. Scope & Advantages of Social Media High ROI Flexibility - Content Targeting - Specified group Faster feedback loop Cost per contact - Small Offer a quick means to update information that is current and relevant to the target markets Complement other communication channels HUGE POTENTIAL • Social commerce sales have the potential to bring in $30 billion each year by 2015** • 50% of these social commerce sales will occur through social media** **Mashable (Nov, 2012)
  • 8. FDA GUIDELINES FOR SOCIAL MEDIA PROMOTION • “All advertisements for any prescription drug shall present a true statement of information in brief summary relating to side effects, effectiveness and contraindications, and there must be a fair balance in the benefits and risk information provided to consumers.” - FDA The guidance document published by the FDA in May 2009 did not provide adequate guidance on the use of online technologies Distinct features of non -print media add complexity Defining information related to drugs with limited number of characters available in each ad is a difficult task
  • 9. RESEARCH METHODOLOGY Secondary Research Various academic and industrial reports Primary Research Sample Size – 310 Random Sample Type - Online and Paper Participants Age Distribution N % Below 15 2 1% 16-25 166 54% 26-34 87 28% Above 35 55 18% Gender Distribution Male 238 75% Female 72 25% Occupation Distribution Student 148 48% Employee 138 45% Business 11 4% Housewife 6 2% Others 7 2%
  • 10. INQUISITIVENESS 89% - Search online for health related information High Potential to increase their reach on online platforms SENSITIVENESS 64% - Information they found online affect their decision to seek a doctor Users don’t take chances, but approach a doctor for specialist advice RE- VERIFICATITION Seek for a second opinion from another doctor even after approaching a doctor Re-verify the advice on online sources ONLINE MEDIUM - SPECTRUM 16-25 years- 76% Facebook Above 25 years - 74% Separate website by the company Youth - Facebook (Other SM) Old - Company Website SHARING HEALTH INFORMATION 79% - Shared or sent health or medical related information Care for others – Wish their friends to read and get benefited from it IMPACT OF HEALTH INFOMATION 62% of the respondents had stated that there was as minor impact on them Develop a web site  Satisfy people’s need which could make a major impact on them FINDINGS IMPLICATIONS
  • 11. RECOMMENDATIONS • Dedicated for providing health related information  Leverage to build brand Website & FB page • In long run, it will widen the audience base Provision of info. • Based on the age groups Different approach es • Facebook - Small problems • Website - Deep issues (in detail) Type of info.
  • 12. • Clear guidelines for promotion • In India CDSCO should play a major role Regulations - Social Media • Application based service • SMS based service • Precautions, Symptoms to be taken for the diseases Mobile Application and Service • Pharmaceutical company  Articles  More awareness  Users can take correct decisions Authentic provider RECOMMENDATIONS OUTCOME • Itself from its competitors DIFFERNTIATION • Sharing Health Information EDUCATION • Patients – • Well informed • Take care of their health • Company – • Brand Awareness • Trust RESULT
  • 13. • Sample Size was limited • The accuracy of responses could have been varied between different respondents • The data available for Indian rules and regulations on social media platform is very limited as compared to that defined by FDA Scope for Improvement •Study conducted to understand the types of health information they look for • Frequent searched topics • Satisfaction with information available • Preferences on getting updates of health information • A study to understand • Current focus and strategies of international pharmaceutical companies • Feasibility of replicating the same for Indian companies LIMITATIONS CONCLUSION - From the study, we understand that people use online sources for health related information and pharmaceutical companies have a great opportunity to explore social media platform for marketing their products.
  • 14. Appendix 2- References • Promoting online sales of dental supplies. Journal of Medical Marketing 8: 137 – 143, Gadish, (2008) • Promotion Audits, SDI Health, Yardley, Pennsylvania, (2009) • Guidance for industry presenting risk information in prescription drug and medical device promotion – Draft guidance. (Dec, 2011) • The magical digital, Stephanie C. Ardito, (March 2012) • Why Drug makers don’t Twitter, Businessweek, (Nov, 2009) • 100% foreign direct investment regime in pharmaceutical sector, Economic Times (Oct, 2011) • Estimating the value of internet marketing in the US pharmaceutical industry, Thani Jambulingam, (2010) • http://www.cliohealthcare.com/winners_media/2010/pr/pdf/401000796_1_supporting.pdf • http://mashable.com/2012/11/01/facebook-sales/ • http://mashable.com/2011/08/16/social-media-marketing-stats-infographic/
  • 15. References • http://www.pewinternet.org/Commentary/2011/November/Pew-Internet-Health.aspx • http://www.pewinternet.org/Reports/2011/Technology-and-social-networks/Summary.aspx • http://www.financialexpress.com/news/domestic-pharma-market-grows-13.7-in-august/1004076/0 • http://www.pwc.com/gx/en/pharma-life-sciences/publications/india-growth.jhtml • http://www.pwc.com/us/en/press-releases/2012/pwc-report-forecasts-a-golden-era.jhtml • http://www.pwc.com/us/en/press-releases/2012/pwc-report-forecasts-a-golden-era.jhtml • http://theelearningcoach.com/wp-content/uploads/downloads/2010/06/using-twitter-for-business.pdf • http://www.indianexpress.com/news/healthcare-spend-to-rise-to-2.5--of-gdp/918380 • http://mashable.com/2012/12/26/facebook-2012/ • http://www.guardian.co.uk/technology/2012/dec/18/twitter-users-pass-200-million • http://mashable.com/2012/01/23/youtube-4-billion/
  • 16. Links • Online Health Habits.xlsx • Abstract_IIM-C FINAL.doc • IIMC Full Paper - Social Media Connectivity in Pharmaceutical Industry.docx

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