Market Segmentation & Situational Analysis in Pharmaceutical Marketing

Flashcards covering key concepts of market segmentation and situational analysis in pharmaceutical marketing.

Market Segmentation

The process of dividing a broad market into smaller, manageable subgroups based on shared characteristics.

Personalized Treatment Approaches

Ensuring that specific patient groups receive tailored treatment options to meet their unique needs.

Demographic Segmentation

The division of the market based on demographic factors like age, gender, and income level.

Behavioral Segmentation

Segmenting the market based on behaviors such as prescription behavior, loyalty levels, and usage frequency.

Psychographic Segmentation

Segmenting the market based on psychological traits, including lifestyle, values, and consumer attitudes toward pharmaceuticals.

Situational Analysis

The process of evaluating internal and external factors that affect business performance.

SWOT Analysis

A tool used to identify strengths, weaknesses, opportunities, and threats relevant to a company's business strategy.

PESTEL Analysis

An analytical framework that considers Political, Economic, Social, Technological, Environmental, and Legal factors impacting a business.

Technographic Segmentation

Segmenting consumers based on their usage of technology, including digital health tools and telemedicine.

Regulatory Compliance

The process of ensuring that marketing messages adhere to legal and ethical guidelines in various markets.

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position relative to competitors.

Case Study

An analysis of an organization or a specific instance that serves as an excellent example of business or marketing strategy.

Future Trends in Pharmaceutical Marketing

Emerging directions such as AI in personalized medicine, digital marketing growth, and sustainability initiatives.

Brand Loyalty

The tendency of consumers to continue buying the same brand of goods rather than competing brands.