{"id":204364,"date":"2022-09-07T10:00:00","date_gmt":"2022-09-07T08:00:00","guid":{"rendered":"https:\/\/www.bluenovius.com\/?p=204364"},"modified":"2023-04-11T13:29:31","modified_gmt":"2023-04-11T11:29:31","slug":"a-guide-to-pharma-market-segmentation","status":"publish","type":"post","link":"https:\/\/www.bluenovius.com\/pharma-marketing-trends\/a-guide-to-pharma-market-segmentation\/","title":{"rendered":"A Guide to Pharma Market Segmentation"},"content":{"rendered":"\n
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\"PHARMA<\/a><\/figure><\/div>\n\n\n
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With the growing digitalization of pharma<\/a><\/strong>, came the enlargement of the industry\u2019s reach. So, the effectiveness of messages sent by brands became reliant on a specific practice which is market segmentation. <\/p>\n\n\n\n

The pharmaceutical industry is ever-evolving. So are consumers\u2019 content consumption habits<\/a><\/strong> and engagement preferences with brands. Therefore, it is important to have the necessary tools and processes to ensure the success of all your marketing and communication efforts. <\/p>\n\n\n\n

With that in mind, this article will guide you through pharma market segmentation and the principles behind it.<\/p>\n\n\n\n

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A guide to pharma market segmentation<\/strong><\/h2>\n\n\n\n
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A definition<\/strong><\/h3>\n\n\n\n
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Market segmentation is a practice that divides a target market into groups of different approachability. This promotes the creation of subcategories of a market of interest<\/a><\/strong>. Some examples come off as, for example, demographics, demand, and interests. <\/p>\n\n\n\n

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\u201cDifferent people respond differently to various components of marketing and to different channels,\u201d <\/em>– Patient Bond, Brent Walker <\/strong><\/p><\/blockquote>\n\n\n\n

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Market segmentation helps to direct all marketing efforts into narrower groups of people. It consists of the establishment of effective messages and links of communication<\/a><\/strong>. <\/p>\n\n\n\n

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What about pharma?<\/strong><\/h4>\n\n\n\n
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Marketing segmentation is a growing concern within the pharmaceutical industry and marketing teams. <\/p>\n\n\n\n

With the Internet came the openness of consumers to a wider and more varied consumption market. This has affected brand loyalty tendencies. <\/p>\n\n\n\n

In other words, it’s harder for companies to continue using traditional marketing practices to allure people to their brand. The conjecture is different, and so should be the approach. <\/p>\n\n\n\n

This is an industry that relies on the known \u201crule of 7\u201d that guides interaction with the different stakeholders. For example, HCP, tend to engage with sales reps from around 6 to 8 visits before securing a business deal.  <\/p>\n\n\n\n

However, this is a tactic that is becoming obsolete and inefficient in the present day. After all, virtual is taking over face-to-face communication. <\/p>\n\n\n\n

So, the field is in an ongoing transformation. First with the digital shift and then with COVID and the post-pandemic era. <\/p>\n\n\n\n

Pharma companies<\/a><\/strong> want to ensure that they cover all fronts. So they target them with effective messages and communication that is relevant and valuable. For that to happen, these organizations ought to adopt market segmentation practices that allow them to split their audience into groups of interest. <\/p>\n\n\n\n

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Different types of market segmentation<\/strong><\/h3>\n\n\n\n
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Within market segmentation, there are different types and approaches<\/a><\/strong> that one might follow considering its particular needs. So, it is important to know what they are and which one is the best fit for the communication strategy you have in mind. <\/p>\n\n\n\n

Some of the different types of market segmentation you can put in place are: <\/p>\n\n\n\n

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