Contemporary Issues in Pharmaceutical Marketing Strategy

This research paper is written with an aim to find out the company issues related to pharmaceutical marketing strategies. These issues are the hurdles to the growth of many companies in pharmaceutical industry. The paper focuses on the different issues related to marketing strategies which are directly or indirectly related to human resource management, and financial management and general management. After studying these issues it will be a clear what are the major problems the industry is facing today and an innovative holistic marketing concept is the solution in this scenario. Solution to this issue may not be hundred percent possible but minimizing the intensity can assure the growth .The issues relate to many products going off- patent, the competition is severe, incomplete customer knowledge, lack of strong strategies, large development cost, changing customer perceptions, lowering quality of materials, high retaining and training cost of sales personnel, high attrition rate ,less doctors time of calls, less clarity about business support from doctors and chemist, no concrete forecasting method, failure of marketing strategies due to various barriers. The information is collected from secondary data like books, articles etc. and researcher has personally experienced the issues described here. If proper planning and more innovative holistic approach is practiced by the companies, the issues can be tackled to achieve growth.