Comparative Analysis of Integrated Marketing Communication Strategies in view point of Sales Promotion and Advertising in the Specialty Division of Pharmaceutical Sector: A Modern Perspective

Abstract

The empirical study of sales and promotional strategies is one of the avenues through which each major organizational group tries to enter and grow in the era of fierce competition, impulsive markets, and the remarkable potentiality of the Indian pharmaceutical sector. As a result, current companies are attempting to survive while also being willing to increase their profitability. The aforementioned research, which is being conducted in Belagavi, aims to concentrate on two distinct product promotion strategies: advertising and sales promotion. The pharmaceutical industry uses these strategies to boost product sales and gain a competitive edge on other industries in the future. Using the concepts of the Four Pillars—Medical Representatives, Medical Practitioners (GPs, CPs, and CPs), Field Managers, and Chemists—this article aims to exemplify the advertising and sales promotion tactics of pharmaceutical companies.
Having gone through this article, one would learn about the prevalent performance of the pharmaceutical industry based on a comparison of sales promotion and advertising. One would also be able to determine which approach would be best to gain a stronger hold on the market given the competition.