Brand Strategy: Pharmaceutical Industry
Active ingredient is used in the production of pharmaceutical drugs as a biologically active compound. The market for active ingredient is driven by a number of factors including increased prevalence of chronic diseases, growing incidences of age-related diseases, and technological advancements in API manufacturing. Additionally, patent expiration of major drugs that increase generic drug sales and government initiatives are influencing the market’s growth.
However, our analysis of the global pharmaceutical industry shows that active ingredient manufacturers are facing challenges in terms of:
- Competition: Competition is increasing for both active ingredient suppliers and customers. Additionally, generic companies are finding that mergers, acquisitions, and regulatory issues have taken some facilities out of the running as supply partners. Generic active ingredient manufacturers are also challenged with developing syntheses that don’t infringe on patents while keeping costs low.
- Regulatory requirements: Today, regulatory requirements are tightening and will likely continue to do so with a push for more transparency in the supply chain in the coming years. This could result in the need for certification for active ingredient manufacturing practices for key intermediates and raw materials.
The Business Challenge
The client, a prominent active ingredient manufacturer in the pharmaceutical industry space, wanted to devise new strategies to build interest among the customers about the products being offered. The client wanted to understand the emotions of the customers and build a better relationship with them to foster customer loyalty. This was because the client was facing challenges improving their brand positioning strategy and retaining profitability. Thus, client wanted to employ Infiniti’s brand strategy engagement.
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Solutions Delivered
To help the client overcome their challenges, Infiniti’s brand strategy experts carried out an extensive research methodology with stakeholders in the pharmaceutical industry. The brand strategy experts also compiled information from sources such industry forums, company presentations, and newsletters. With the help of Infiniti’s brand strategy engagement, the active ingredient manufacturing client devised effective strategies to engage and retain customers and consequently created a robust brand image. The solutions helped them improve their brand awareness and capture higher shares of the market. With the help of brand strategy solution, the client further created a unique identity that differentiated the brand from their competitors.
