ABSTRACT
This chapter focuses on the nature of the biopharmaceutical marketing’s four Ps, the conduct of environmental analysis, the activities of segmentation, targeting and positioning, as well as planning and budgeting. These biopharmaceutical marketing’s four Ps are: product, place, price, and promotion. Biopharmas are faced with three different classes of buyers. A biopharma’s future, therefore, is inextricably related to each market’s culture, and huge and continuous efforts need to be allocated toward public education, public relations, and web communications for the company’s messages to become known and accepted. Market conditions posing an entry barrier may be an access to financing and incentives, exit opportunities through robust stock market exchanges, “buy local” campaigns, or historic barriers. The industry will need to use completely different sales and marketing strategies. The macroenvironment comprises of all societal forces that may affect the company’s operations today or into the future.
