many regulatory bodies accept digital documentation for compliance. Real-time tracking and regulatory planning has also become mainstay. As the timelines are reduced, costs have also come down. Impact of Technology in Marketing Perhaps it is a sad thing that marketing function is the last function to get penetrated by technology or digital solutions. We have seen the way digital age has transformed how information is shared amongst humans. The internet initially started providing means to obtain information. Now the internet is not only a huge database for information but has evolved as an essential tool for communication that spreads across the edges and corners of the world. This shift in the technology has taken all the aspects of life in its strides. This emerging trend is now set to bring about a revolution in healthcare sector too.
The explosion in the social media began in year 2000s with the founding of LinkedIn in 2002, MySpace in 2003, Facebook in 2004, YouTube in 2005 and Twitter in 2006. Each of these platforms initially started as a person-to-person communication channel. These channels of social media have penetrated our lives in such way that we find them imperative for communicating between us. These new platforms also brought about different and innovative ways of interactions for personto-person and community-to-community communications. The boom in social media has encouraged many marketers to find innovative ways in order to position themselves. Somewhat static marketing approach in the marketing is now renovated into much more responsive dynamic approach. Even though various sectors are moving to multichannel marketing, Pharma sector is still a laggard. It was assumed that the use of the internet is only for acquiring the
Marketing with new technology is becoming more efficient and has a potential to further streamline all the processes in the Pharma sector. 28 ď‚ƒOctober 2016
information which mattered in research. But that notion is slowly but positively changing. Many pharma companies, one of the larger stakeholders in the healthcare industry, are trying to brace themselves for this emerging trend. Pharma companies have been focusing on the small groups customers till today and unwary of a large pool of potential customers they are missing. However, technology has brought visibility about potential customers, such as professional platform of doctors like Docplexus. Marketing with new technology is becoming more efficient and has a potential to further streamline all the processes in the Pharma sector. Pharma companies have been employing push strategy to sell their products and services. The market was fragmented and there was hardly any way to know what customers really wanted. But, social media platform like Docplexus now provides better exposure and far better insights about the potential customers- the doctors. Social data analytics is something Pharma needs to implement change in their strategy from costlier to push approach to more efficient pull approach. Pharma Bio World