The pharma sector is growing day by day with fast growth and if we talk about India it is growing very well in comparison to other sectors. The motive of the company is to sell the product to satisfy demand. Due to the expansion of this pharmaceutical sector lot of different business model comes like Ethical promotion, generic promotion, multi-level marketing promotion and PCD franchise promotion for pharmaceutical products, OTC products, Nutraceuticals, Health Supplements, Herbal Products, Unani Products, Cosmetics Promotion, and Herbal Cosmetics Promotion. These all are related to human health and those companies provide product for the well being of human.

ETHICAL PROMOTION

In below we will discuss about the ethical promotion of pharmaceutical product. As we go with the meaning of ethical promotion it means the promotion of pharmaceutical products with ethical values and below we cover points related to ethical promotion of products of a pharmaceutical company :–

1. What is ethical promotion
2. Benefit of ethical promotion
3. How to go for ethical promotion of pharmaceutical products
4. Limitation with ethical promotion

what is ethical promotion

In this sector of pharmaceutical the medicines or product are marketed by the sales and marketing team, which include Medical representative, Area Business Manger, Regional Manager, Zonal Sales Manager, Deputy General Manager, general manager, Marketing Manger, Sales Officer, Product manager. They all above persons work for company and brand but the prime responsibility of ethical promotion of pharmaceutical product is for medical representative (front line manager). That person (medical representative) always works like a brand ambassador for the company and products in front of doctors. These medical representatives share the all scientific information about the product with doctors. They update the doctors about new updates related to brands which promote ethically in pharmaceutical segment. Then products prescribed by doctors and dispensed by chemists.

Benefit of ethical promotion

1. In this method the medical representative is directly in touch with doctors. So, medical representative easily solve any query comes.
2. The company name get strong presentation and value in front of doctors by ethical promotion of products.
3. Ethical promotion is the way to establish new brand in market.
4. Ethical promotion can change the market parameters because it totally depends on the promotion and efficacy of pharmaceutical products.
5. In ethical promotion always share scientific information related to benefit of product and which unique technique used for the manufacturing of pharmaceutical products.
6. In ethical promotion a medical representative always discuss the benefits and side effects of products.
7. In ethical promotion USP (unique selling point) is always be on priority.
8. It is very beneficial for the employee because of handsome salary, expenses, incentives and increments.
9. The product is totally depends on the merits of the pharmaceutical products of pharma company.

How to go for ethical promotion of pharmaceutical products

1. The ethical promotion is directly related to ethics of pharmaceutical and these ethics designed by the group of pharmaceutical companies. These ethics formed are based on legal requirements from regulator boards.
2. This ethical promotion depends on the dedication of sales, marketing and promotion team.
3. In initial phase for ethical promotion of Products Company set some parameters, develop plan for promotion and give position to team.
4. Select the team wisely with the experience of same position.
5. In this team selling skills and convincing power is much important. so the regularly update mentioned skills of team by training and motivational videos. In current era lot of e-tools present to check the capability of team.
6. One standard parameter decided by the regulatory authority with minimum window to maximum window.

Limitation with ethical promotion

1. It is an expensive type of promotion. so that some time small size companies not go for this type.
2. You required a big team for handling every step of system
3. In this never break system compliance, accountability, culture and policies of company.
4. Sometime lot of attrition rate present in ethical promotion of pharmaceutical means in short time of span lot of employees changed or left the company by choice.
5. Lot of promotional material, sampling and activities required for this type of promotion.
6. Sometime lot of expiry stock come back from market and it is the direct loss of company. But it happens rarely.
7. Always work on the updates of products and new advancement in the drugs.
8. Sometime company gives false communication about the benefit of the pharmaceutical products and if anything comes in the knowledge of authority. Then company will pay heavy fine for that to authority.

However it is the one oldest system for the promotion of pharmaceutical products in country and it has been found very effective. In India this system is widely adopted by the Indian pharmaceutical companies and multinational pharmaceutical companies. The company’s main objective is to maximize profit without breaking the barrier, rules and laws of the respected country. In this system no unethical practice are allowed to encourage and not demanded by the customers or doctors. The pharmaceutical market is highly competitive, full of scope but it’s success is totally depend on the sales and marketing of pharmaceutical product by assigned teams. Lot of people join this sector of pharmaceutical and grows well and lot of people start his small pharmaceutical company. These pharma marketing companies sell their products as per the rule of ethical promotion of products with ethical values.