Key Pharmaceutical Branding Considerations
More and more pharmaceutical companies now begin to realize the power and importance of brands. So how must companies brand their products in order to stay ahead of the competition? A good name is a good start. A great name can boost the value of a brand and a poorly chosen one can mean disaster for the product.
Hence, marketing teams are now spending a bigger amount of resources just to get the name of their pharmaceutical product right. For instance, some people find the Cordran tape price expensive without insurance, but it remains a popular product partly due to its well-chosen name. However, naming a drug or medicine is not similar to naming an electronic consumer product. The necessary processes are different. In any case, if the product is going to be sold overseas, the name has to be easy to translate.
Logo design is the second most important aspect of pharmaceutical branding. The logo must be in tune with the intended market in terms of font and colors. A successful pharmaceutical logo design makes a memorable impact on the consumers.
Let’s look at Cordran tape (flurandrenolide) for instance. The brand’s logo is as simple as it is memorable. Hence, whatever the Cordran tape price, it is still very popular.
Packaging comes third on our list of top branding considerations. Like the brand name, the packaging should also stand out. The idea is to grab attention and to make the product look interesting.
Branding also involves a psychological aspect. In fact, you may have observed from your day-to-day experiences that branding is, quite frankly, considerably psychological. For instance, if a pill is too large and looks rather difficult to swallow, a dark-colored coating will can make it appear smaller and thus easier to deal with. If you have observed, medicines with high toxicity levels are never colored red because according to studies, “hot” colors leave a subliminal message of threat. Any drug’s appearance may make no impact on other factors such as the price of the product, but it usually does affect consumer experience. People may view the Cordran tape price differently, but one thing’s the same – the brand is obviously successful.
Pharmaceutical branding also significantly relies on marketing as well as promotional materials. Pharmaceutical products for pediatrics need to have bright-colored cut outs and packaging to make them appealing to the kids.
Pharmaceutical companies are not new to branding logo design – truth is, they have been doing it for a long time. They have been giving out free samples to doctors, including free notepads, folders, pens, etc. As promotional products, all these proudly bear the name of the company they represent. The Cordran tape price becomes nothing to the doctors receiving free samples of the product, and that helps the company promote it even more.
Pharmaceutical branding exists even way beyond all these. Now, they have added the Internet to their formula. As part of their practice, some doctors now have websites of their own. Even if the doctor doesn’t usually use a site, they understand it is there for reference purposes or if a patient has a query that he or she can’t address. Patients are often concerned about pricing, so for example, if they wanted to know the Cordran tape price, they may not find it right on the doctor’s website. However, the site can bring them to another site in which the prices of pharmaceutical products are featured.