The Aspect of Branding in Pharmaceutical Industry: Management Approach

Veselin Dickov
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Veselin Dickov: Institute for the Health Protection of Students, Serbia

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Abstract: The basic function of any trademark or brand is to make the product unique, different from others. ‘A brand is a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. A product can be quickly outdated; a successful brand is timeless.’ Developing a successful brand yields numerous consumer benefits, and leads to easier accomplishment of market goals as well: reduced marketing costs due to high levels of brand recognition and express brand loyalty.

Keywords: branding in pharmaceutical industry; pharmaceutical market; pharmaceuticals management-market mix (search for similar items in EconPapers)
Date: 2015
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