Transactional to Transformational Marketing in Pharma

Subba Rao Chaganti

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English

Pharmamed Press
02 April 2023

Manufacturing industries; Pharmacy & dispensing; Pharmaceutical technology

Despite its great contribution to improving the health and well-being of people and saving countless lives worldwide for over a century, the modern pharmaceutical industry has continued to fall from grace in public perception for the last ten to fifteen years.

While there are many reasons, such as ever-escalating prices denying access to many patients, unethical business practices to gain market share, and relentless focus on the bottom line explain for low productivity, they cannot be responsible for Pharma's loss of reputation. Instead, most pharmaceutical companies' transactional marketing and other unethical business practices seem to be a major, if not the only, cause of the drug industry's fall on the reputation barometer.

Increasing competition, drying up of new product pipelines, rapid genericization, and continuing cost-containment pressures are the reasons a marketer practicing transactional marketing would offer. But, then, there is often a very thin line between a reason and an excuse. Excuses, when accepted, become reasons, and reasons, when denied, become excuses.

Regardless of whether there are reasons or excuses, transactional marketing practices and unethical business behavior may give short-term gains in business at a huge cost to reputation, which is extremely difficult to rebuild. Moreover, transactional relationships are so transient, like fleeting clouds, that they cannot build loyalty for your brand or company. Only Transformational marketing practices and ethical business behavior can.

Pharma needs to change its marketing practices from transactional to transformational today. The question is how?

The book, Transactional to Transformational Marketing aims to show how a pharma company can do this because the cure for all current marketing ills is Transformational Marketing!

By: Subba Rao Chaganti
Imprint: Pharmamed Press
Dimensions: Height: 229mm, Width: 152mm, Spine: 22mm
Weight: 685g
ISBN: 9788196146900
ISBN 10: 8196146906
Pages: 386
Publication Date: 02 April 2023
Audience: General/trade , ELT Advanced
Format: Paperback
Publisher's Status: Active

Subba Rao Chaganti has a masters in business administration and over fifty-two years of pharmaceutical marketing experience covering the whole gamut and all facets of the industry, from sales management to product management to heading the total marketing activity. His experience covers domestic and international marketing, and also Indian and multinational sectors.For a few years, he also taught a course on Advertising and Brand Management at the GITAM Institute of Foreign Trade (now part of GITAM University) at Visakhapatnam as an adjunct professor. He also taught a course on Marketing at Jawaharlal Nehru Technological University (JNTU), Hyderabad, as a visiting faculty.He lives in Hyderabad and can be reached at subbarao.chaganti@gmail.com.Here is a list of his books published:1. Pharmaceutical marketing in India: Concepts, Cases, Strategy2. Game Plans for Post-Gatt Era: Action Agenda of Indian Pharmaceutical Industry3. Compete or Forfeit: Strategies for Sustainable Competitive Advantage in Pharma Product Patents Era4. Pharmaceutical Marketing in India for Today and Tomorrow - 25th Anniversary Edition5. Bullseyes and Blunders: Lessons from 100 Cases in Pharmaceutical Marketing6. Digital Pharma Marketing Playbook: Winning with the New Rules of Engagement7. Cracking the Generics Code: Your 'Single-Source' Guide for Winning in 'Multi-Source' Product Markets8. Reimagine Pharma Marketing: Make It Future-Proof!