An Insider’s Look: Best Practices and Strategies for Today’s Pharmaceutical Companies to Protect and Grow Brand Equity In the Amazon Age
The rapid growth of eCommerce in the pharmaceutical industry is a trend that cannot be ignored. Online marketplaces have substantially changed the way consumers purchase pharmaceuticals, with many foregoing traditional brick-and-mortar retailers in favor of online shopping. The growth and adoption of online marketplaces has only accelerated due to the COVID-19 pandemic. This trend is seen not just in the US, but globally, in locations such as Europe, United Kingdom, Canada, Australia and Asia, with global marketplaces now accounting for $2 trillion in annual product sales.
This massive growth has brought with it a multitude of challenges for pharmaceutical brands and manufacturers. These challenges include: disrupted distribution strategies, unauthorized gray market sales, counterfeit goods, brand equity erosion and channel conflict, all of which can result in quality issues, poor consumer experience and hampered overall financial performance.
In this webinar, Daren Garcia, partner at Vorys eControl, will share insights for proactively addressing these problems along with the business and legal strategies critical to controlling online marketplace sales in order to preserve brand equity and improve both revenue and profit for today’s pharmaceutical brands and manufacturers.
We will share
- The latest market trends and dynamics
- Predictions for the future of online marketplaces
- Brand protection and growth best practices
- Holistic channel control strategies and the associated value that can be unlocked