Strategic Implication of Pharmaceutical Packaging to Enhance Prescription from Indian Doctors - A Study on the Four Metro Cities

Abstract

The Indian pharmaceutical industry is expected to be US$ 55 billion by the year 2015. In the clustered market of several thousands of brands it's essential to evolve a unique marketing strategy that would increase sales in the rapidly expanding market. This paper examines the value addition for the utility function that packaging can do to boost the sales efforts of the pharmaceutical product. The technological aspects of the packaging are the key value additions to the utility function. There are several technologies available globally, these are classified as ‘new technologies’ that are new to the Indian pharmaceutical markets where the awareness of the doctors are studied and ‘ existing technologies’ that studied the perceptions among the doctors in terms of value addition are considered as this can enhance the prescription sales. Based on these factors the target segment of doctors is identified to achieve above average returns especially when the discovery of drugs takes time and money and success of the product is difficult due to the cluttered market. The study covered 400 doctors over the four metro cities in India that helps to add value and strategize the pharmaceutical business based on the package.