25 October 2008

Social Media and their Relevance to the Pharmaceutical Industry


Social media are shifting the way that the global economy operates. Internet journals and communities have enabled consumers to communicate their experiences with companies' products and services to other consumers. A consequence of consumer-generated marketing is that relationship management throughout the life cycle of a product is taking the place of mass marketing in consumer-driven industries.


Introduction to social media and their relevance to the pharmaceutical industry Sizes and assesses the growth in the blogosphere in the US, Europe and Asia Looks at Blogging in other industries and highlights lessons that pharmaceutical companies can learn Discusses current examples of pharmaceutical Blogging and considers the future of Blogging in the pharmaceutical industry


Strategic use of Internet applications, including online communities and blogs, will allow pharmaceutical companies to increase their awareness of the needs and concerns of their patient and care giver audiences. As blogs and online forums are so frequently updated they can be a good indication of the current market. Companies from a broad range of industries have had success in authoring blogs and hosting online forums for their consumers. Some of the benefits these companies have enjoyed include direct communication with influential consumers, higher search engine rankings for key search terms and the ability to respond quickly to marketplace events. Much of the delay in pharmaceutical companies entering the public blogosphere can be attributed to concerns about the liabilities associated with Blogging. Many embattled companies, which were already dealing with high profile withdrawals and associated lawsuits, have not felt the need to expose them further to public criticism.

Reasons to Purchase:

Identify the best and worst practice lessons that can be learned from examples of business Blogging in other industries. Understand the potential liabilities of business Blogging in the pharmaceutical market. Assess opportunities to launch social media application.