Abstract

MULTI-CHANNEL MARKETING IN THE PHARMACEUTICAL INDUSTRY

*Alpha Janga

Abstract

Multi-channel marketing is a practice of customer interaction using different channels of communication and letting the customers take action by using those channels. It can be simplified as the customer’s choice (SAS, 2015). MCM for every company is important to be with the customers and for the customers. The expenditure on MCM is 3 to 4 times more compared to single-channel marketing. The present-day customers have more options to buy and are more opinionated regarding the things they what to buy. And the customers have a control over the buying process than the marketers. The information about a product can be obtained by various means. The increasing importance of the multi-channel marketing is a natural way the information is consumed by the customers and in the current evolving world, it is a way to explain the changes that are affecting the healthcare industry. Companies are finding different ways to reach customers and one of its kind is the multi-channel marketing which includes reaching out to the customers through websites, mailing catalogs, emails, postal mails, mobile tests etc. But, many companies lack the idea of how to execute the ways to succeed and implement multi-channel marketing for their companies. This paper focuses on the impact of multi-channel marketing on pharmaceutical companies, and if the companies are being benefited and satisfied by this kind of marketing and what steps the companies need to take to be successful from its competitors in the multi-channel marketing of its products.

Keywords: Multi-channel marketing, Pharmaceutical companies, Customers, Products.