Does Pharma Zoom?

Apr/20/2007 12:01 Filed in: Pharma Business
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James Citrin's book, Zoom, details how some exceptional companies are navigating the road to the next economy. Of course pharma is nowhere to be found on the list of exceptional companies and you shouldn't be surprised. Pharmaceutical marketing is stuck in an age of old marketing practices where spending mega dollars on TV seems to be the only tactic they know.


Mr. Citrin states that in order to excel in the new economy, business leaders need to master six basic strategies:


1. Be capable of doing everything at speed (Pharma marketing has two speeds..slow and dead slow)

2. Create a true learning organization (A lot of pharma companies do have "shared learnings" but few learn from innovators outside the industry. While smart marketers are learning how to leverage consumer generated media, pharma marketers are developing bad DTC).

3. Obsess over the needs of the customer (Like pharma could ever care about the customer. It's all about ROI and driving Rx's not satisfying customer needs).

4. Reward risk taking (FDA..NOV = Trouble...enough said)

5. Learn to live with greater uncertainty (Pharma has no choice and seems willing to let the environment take it where it wants to go !)

6. Master the art of deal making and partnerships (pharma companies don't talk to each other even when it is for the patients good)

Is it any wonder that pharma marketing is looked upon as nonexistent? The more things change the more pharma marketers seem stuck in a rut and it's awful deep.

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