Retail Marketing Strategies in the Pharmaceutical Industry and its Approach for Chronic Diseases

Retail Marketing Strategies in the Pharmaceutical Industry and its Approach for Chronic Diseases

Prabodh Panchbhai

Under the Guidance of: Dr. Anabel Benjamin Bara

Master of Business Administration

Faculty of Management Studies

University of Delhi

Introduction

The pharmaceutical industry plays a vital role in the healthcare sector, particularly in medication development and distribution to deal with many chronic diseases. Since chronic diseases like diabetes, cardiovascular disorders, and respiratory diseases keep increasing around the globe, there is a huge need for effective pharmaceutical retail marketing, not only creating awareness but also creating access to essential medicinal drugs for the patient. Chronic conditions are quite different from acute conditions, mainly because the disease process is more continuous than discontinuous. Much more extended relationships with the healthcare providers are needed for chronic conditions, and equally, extended relationships with patients are needed to ensure continued management of diseases. In retail marketing strategy, therefore, acquiring appropriate consciousness among patients about their treatment choices, ensuring easy access to the drugs, and following the course of treatment prescribed are thus crucial.