Who are Pharmaceutical Brand Managers?
Pharmaceutical Brand Managers are the people who uncover consumer insights and deliver innovative marketing campaigns. They have the task to create branding concepts and strategies for the products of the company to improve their company’s product sales and market shares. The goal of a brand manager is to a product into a household name.
Responsibilities of Pharmaceutical Brand Managers
The role of the brand managers include varieties, among all key responsibilities are below:
- Develop a brand strategy that includes the setting of brand guidelines, brand vision, and value proposition for short as well as long term
- Execute the plan of all communications and media actions on all channels, including online and social media
- Assist the product development, pricing and new product launches as well as develop new business opportunities
- Manage and create promotional collateral to establish and maintain product branding
- Manage the budget for advertising and promotional items
- Oversee new and ongoing marketing and advertising activities
- Monitor market trends, research consumer markets, and competitors’ activities
- Translate brand elements into plans and go-to-market strategies
- Measure and report performance of all marketing campaigns, and assess ROI (Return on Investment) and KPIs (Key Productivity Index)
- Align the company around the brand’s direction, choices, and tactics
Essential Traits needed to become successful brand managers
- A genuine fascination with brands.
- Wide-ranging curiosity
- Should know how to think outside the box
- A competitive mindset
- An incredible gut instinct (and knowing when to follow it)
- Willingness to take ownership of the brand
- A full historical understanding of the brand
- A deep understanding of how customers think
- Trend savviness
- The ability to juggle myriad tasks and demands
- Adaptability to evolving markets
- Detail-oriented and persuasive
- An analytic mindset
Skills to Succeed
Pharmaceutical Brand Management is the vital position of the company, so to succeed in this role, certain skills are required which includes:
- A creative mind as you will need to come up with new ideas to market the product.
- Sales forecasting and the ability to devise an effective marketing strategy are both vital to this role.
- Accuracy and teamwork are similarly important, as you will be working with others.
- Strong communication skills with physicians and many other health professionals will hence ensure that your brand remains current and strong.
- Up-to-date with latest trends and marketing best practices
- Experience in identifying target audiences and devising effective campaigns
- Brand managers should have strategic thinking. Strategic brand thinking is shown below in the flowchart for reference: