[1] ASSESSMENT OF THE IMPACT OF CORPORATE BRANDING OF PHARMACEUTICALS ON PURCHASING BEHAVIOR OF CONSUMER/PATIENTS

ARTICLE INFO: Date of Submission: Feb 09, 2022, Revised: Feb 20, 2022, Accepted: Mar 14, 2022, https://doi.org/10.56815/IJMRR.V1.I1.2022/1-13

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.