Media Habits of Indian Pharmaceutical Industry – Are Buyers and Sellers on the same page?
Long before, prior to the industrial revolution individual business was small and production was carried out on a very small scale mainly to cater to the local needs. The management of such business enterprises was simple compared to the present management of large scale business. The information needed by the decision-maker to make effective decisions was much less extensive than at present. Thus he used to make decisions based upon his past experience, observation and intuition only.
Now, in the face of increasing complexity in business and industry, intuition alone has no place in decision-making because taking a decision completely on gut feeling becomes highly questionable when the decision involves the choice among several courses of action each of which can achieve several management objectives simultaneously.
Quantitative techniques have made valuable contribution towards arriving at an effective decision in various functional areas of management like marketing, finance, production, purchasing and personnel. Still, the quantitative approach does not totally eliminate the scope of qualitative or judgement ability of the decision-maker. Of course, these techniques complement the experience and knowledge of decision-maker in decision-making.
In order to take right decision at right time, the decision maker require authentic, reliable data in front of him/her. He/She can get such data by conducting a market research using survey method on the right segment.
One can get following benefits by conducting survey on right target audience:
It will facilitate the decision-making process.
It will help to reduce the risk associated with the process of decision-making.
It helps firms in discovering opportunities which can be profitably exploited.
One can introduce new product/service line to existing clients.
It helps to identify new customers.
Today, more than ever, decision makers including pharmaceutical industry professionals have a variety of media alternatives to choose from. For Pharma Industry, there are many publications in print medium, there are Online Magazines, they are getting e-newsletters, they can attend Conferences and Trade shows, they get Product info from the Sellers they have Social Media to name a few and remember they are all focusing exclusively on Pharma Industry.
In this scenario, I think, it’s appropriate to conduct a quick survey to understand the Media Consumption Habits and the Media Sources used by pharmaceutical suppliers/sellers(like machinery/ equipment manufacturers/service providers) and Buyers (like formulation/drug manufacturers) based in India. Those finished the survey will get results in an e-book.
You may take survey by clicking on this link: