Role of Social Media in Pharmaceutical Marketing

1391 Words6 Pages
Pharmaceutical marketing is the growing trend used by pharmaceutical companies to sell medications. Although pharmaceutical companies spent millions of money in research, they spend same amount of money advertising their product. Recent data provided by IMS and CAM shows that pharmaceutical companies spent more than twice amount of money on marketing than they spent on research and development. These companies to increase their sales do various marketing strategies in the form of advertisements. Pharmaceutical companies use advertisements like product claim advertisements, reminder advertisements and help-seeking advertisements. However, these all are types of direct to consumer advertising which is broadcasted in TV, radio, telephone but the role of social technologies like web 2.0 tools in pharmaceutical marketing has increased recently. Web 2.0 tools are used highly today and consist of applications like wikis, blogs, podcasts and social networking applications such as Facebook, twitter, my space and YouTube. Previously used web 1.0 tools are the conceptual evolution of World Wide Web (WWW). It uses applications like websites, e-mail and newsletters. Web 1.0 is more static and it was a major hit in healthcare sector when physicians access the static contents in trusted websites containing medical journals. The contents provided through web 1.0 tool cannot be edited and provider can review, delete and correct their contents anytime. Evolution of web 2.0 tools created an interactive approach from the static and provider centered approach. Its interactive approach is a two-way communication between provider and user. As a result, it is a powerful tool to reach prescribers and patients in field of pharmaceuticals. “Only 4% is ... ... middle of paper ... ...w a company had gain insight about patients and its product through information provided by themselves in digital media. Thus, web 2.0 social technologies are cost effective as well as more interactive and informative approach to healthcare. The number of people researching pharmaceutical products on Internet has tripled over last five years. Hence, social technology holds a key role for both consumer and pharmaceutical companies. Works Cited Journal of Medical Marketing (2008) 8, 311–318. doi:10.1057/jmm.2008.20; published online 26 September 2008 aDepartment of Family Medicine, Brown University, Warren Alpert School of Medicine, 8 N. Main Street, Suite 401,Attleboro,MA, USA bNever Again Consulting, 8 N. Main Street, Suite 401,Attleboro,MA, USA Journal of Medical Marketing (2010) 10, 332–343. doi:10.1057/jmm.2010.24; published online 27 August 2010
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