ASSESSMENT OF THE IMPACT OF CORPORATE BRANDING OF PHARMACEUTICALS ON PURCHASING BEHAVIOR OF CONSUMER/PATIENTS: DOI: https://doi.org/10.56815/IJMRR.V1.I1.2022/1-13

Binita  Shah

doi:10.56815/IJMRR.V1.I1.2022/1-13

Authors

Binita Shah Assistant Manager, Torrent Research Centre, Ahmedabad, Gujarat, India

https://doi.org/10.56815/IJMRR.V1.I1.2022/1-13

Keywords:

Corporate branding, Purchasing behavior, Consumer, Pharmaceuticals, Positive impact

Abstract

Pharmaceutical industry is always considered as an evergreen market for economic contribution in the country, which is reflected true in the current scenario. Pharmaceutical branding is a vital approach to create awareness, generate interest, helps in differentiation of a product from competitors; it has become a critical element in organization’s positioning strategy. The study was to assess the impact of corporate branding of pharmaceuticals on patient’s purchasing behavior of consumer/patients. A survey was conducted among 119 patients in different regions of India using structured self-administered questionnaire. Overall, 66% of patients were satisfied with current performance of branded company medicines. Most relevant source of information to patients was through physicians/doctors especially for prescription medicines while pharmacist provide information mostly for non-prescription medicines. Patients trust & prefer to purchase branded company’s medicine as a first choice and believed to have high quality, better efficacy, safety.