Major Considerations for Pharmaceutical Branding
A greater number of pharmaceutical companies now understand how and why brands are important and powerful. So how are companies to brand their products to put them ahead of the competition? A great name is a great start. A good name can raise the value of a brand while a bad one can bring disaster to the product.
This is the reason marketing teams are now allotting more and more resources for getting the name of their pharmaceutical product right. For example, some people say, the Cordran tape price can be expensive without insurance, but still it is a popular product partly because of a well-chosen name. However, naming a drug or medicine is not similar to naming an electronic consumer product. The necessary processes are different. In any case, should the product be sold globally, the name must be easy to translate.
Logo design is the second most important aspect of pharmaceutical branding. The logo must be in tune with the intended market in terms of font and colors. A good pharmaceutical logo design can make a huge impact on the consumers.
Take, for example, Cordran tape (flurandrenolide). It has a very simple yet memorable logo created by its brilliant marketing team. Thus, no matter the Cordran tape price, it is still a very popular product.
Packaging comes third on our list of top branding considerations. Like the brand name, the packaging should also stand out. The idea is to grab attention and to make the product look interesting.
Branding also involves a psychological aspect. You may have even seen for yourself in your day-to-day experiences that branding is, in fact, substantially psychological. If a pill is too large and looks hard to swallow, for example, black or any dark-colored coating will make it seem smaller and thus easier to take in. If you noticed that high-toxicity pills are rarely – if at all – covered in red, it’s because “hot” colors cause a subliminal impression of threat according to experts. Any drug’s appearance may make no impact on other factors such as the price of the product, but it usually does affect consumer experience. The Cordran tape price may be received differently by different users, but their experience of the brand remains the same.
Pharmaceutical branding considerably depends on marketing and promotional materials too. Pharmaceutical products for pediatrics need to have bright-colored cut outs and packaging to make them appealing to the kids.
Pharmaceutical companies are barely new to branding logo design – they’ve been doing it for so long! They have been giving away free drug samples to doctors, and even free folders, pens, notepads, and scientific models of the heart, liver, kidney and other vital organs. All these are promotional products that bear the name of the company. The Cordran tape price translates to nothing for the doctors who receive free samples, which only reinforces promotion for the product.
Pharmaceutical branding exists even way beyond all these. Now, they have added the Internet to their formula. Some doctors now have websites as part of their practice. Even if the doctor doesn’t usually use a site, they understand it is there for reference purposes or if a patient has a query that he or she can’t address. Most patients are concerned regarding pricing, so for instance, if they were looking for the Cordran tape price, they may not find it in the doctor’s website. However, the site can bring them to another site in which the prices of pharmaceutical products are featured.