The job of a Brand Manager within the Pharmaceutical sector is to drive more sales and improve the company’s market shares. These professionals keep a close watch on market trends and manage advertising and marketing activities.
When it comes to consumer goods companies and the FMCG sector, a Brand Manager handles product, placement, price and promotion. But is a Pharma Brand Manager role different from other sector brand manager and is it a good choice for career growth
What is the role of a Pharmaceutical Brand Manager?
Vivek Hattangadi who has 46 years of experience within the Pharmaceutical sector, has shared few slides on primary roles and responsibilities of Pharma Brand Manager on SlideShare.
Roles assigned to Brand Manager in the Pharmaceutical industry:
- Plan, Monitor and Manage Marketing Budget
- Create impactful strategies to capture the larger size of the market
- Training and motivating field sales team to ensure they are equipped with complete product knowledge
- Analysis of sales data to update a brand portfolio
- Monitor sales progress
Must have skills for every Pharmaceutical Brand Manager
Forward-thinking Pharma companies involve Brand Managers in their packaging decisions. So Pharma Brand Managers must be ready with their tips and suggestions for product packaging.
Like any other brand expert, brand managers within the Pharma sector need to be good storyteller and show the ability to liaise with the Research and Development team at the initial stage of the product development process to identify opportunities, strength and test prototypes.
Build Brand Loyalty
As a Pharma Brand Manager, he/she must be able to increase engagement from patients, retain and win customers
Branding people need to be experts in digital marketing too. Because Pharma brands these days can’t afford to rely on 3rd party websites for information about their company products
Other Necessary Skills required in Pharmaceutical Brand Manager
- Top-notch written and verbal communication skills
- Good research and analytical skills
- Complete knowledge of existing products
- Team-building skills
- Competitor analysis
Check Out: Is Digital Overwhelming?
What is the significance of Product Management in the Pharmaceutical Industry?
- Product/Brand Management works along with the sales department for revenue generation.
- Establishes a platform for new product launch (NPD) and creates a strategy for market penetration and implement the same
- Active involvement in brand building activities, brand establishment and brand consolidation
- Coordinate and liaise with healthcare professionals, KOLs and hospitals for SWOT analysis and market research
How to Crack a Pharmaceutical Brand Manager Interview?
Before going for the Pharma Brand Manager Job interview, be ready to share your branding and marketing strategy for the growth of the company. It would be great if you review the company’s existing marketing collaterals, websites, microsite, social media pages because interviewers may ask your inputs and suggestions for improvements
Below are a few questions. Be Ready with their Answers
- How do you see Pharma Brand Management in the coming years?
- What is the best marketing campaign you have ever seen?
- How to increase organic reach?
- Why this role? And what makes you fit for this role?
What do you need to do to become a Pharma Brand Manager?
Crack the Exam
If you want to become a brand manager in the Pharmaceutical Industry you can attempt to crack the CAT/GMAT/GRE and take admission in a good institution like IIM A/B/C/I/K/L or any other prestigious business institute which teach MBA or Pharmaceutical MBA. It will not only enable you to get a good package in a renowned Pharma firm but it will also improve your thought process because there you will be in healthy competition with successful serial entrepreneurs, armed force personals, VP’S, Directors, etc.
Grow by experience
Alternative option is that at the initial stage of your career you can start your journey as a Business Development Executive just right after your UG or PG and get the right skills and experience by being in the job
Start Early & Grow Fast
Other initial roles for which you can look forward to getting your dream job are Medical Representative, GP representative or work in a customer-facing role in the Pharma firm. Such profiles in a mid-size or major Pharma will give you a complete understanding of the complete product lifecycle and sales cycle. Other than this, you will make good connections within the Pharma industry and different agencies.
Acquire Skills & Flourish
In your free time, always try to devote a few minutes or hours of your time to learn new skills which are required to become a Pharmaceutical Product Manager. You will automatically experience a good change in yourself while sharing your views and thoughts with senior internal stakeholders. It will help you to gain hands-on experience on cutting-edge technologies and achieve a smoother transition to a dream job at a good package like any other MBA.
To Wrap Up
To become a brand manager in the Pharma sector, first, you need to be an expert in A to Z of Pharma sales and marketing. Nowadays, there are a lot of Pharma Industry experts out there who are sharing their valuable knowledge and experience online. Reach out to them and try to learn as much as possible, because only a skilled workforce can maintain growth momentum.
If you are eager to learn more about Pharma Brand Management or want to become the next Pharma Brand Manager in your organization you can check out the Brand Planning Course for it is you who will build a strong Pharma Brands.