The basic intention behind this is, if one fails other succeed, e.g. Intas Pharma Ltd has launched two brands Preva and Plavix in the Clopidogrel market (an anti-platelet agent), likewise Cipla has also introduced two brands Sildenafil citrate (a drug mainly used for Erectile dysfunction) as Silegra and Progra.
Family Brand Strategy – As name itself suggest that having common brand name for all related products. The rationale behind this is capitalize the image of highly successful brand of product. In India, Family Brand Strategy is most commonly used strategy in pharmaceutical marketing e.g. continuous technology used by Modi Mundi Pharma Ltd., with affixing ‘Contin” to every brand like Glipicontin, Alprocontin, Unicontin, Dilcontin. etc.
While corporate or company brand strategy is an attempt to en-cash the brand image of existing most successful brand and reinforce company image and brand image. E.g. Torrent Pharmaceutical Ltd., a Gujarat based company use to affix their name to their brand as Torospar, Toroxx, Tozaar, Topril etc.
Multiple Brand Strategy is marketing the same Product with two or more strategy. The sole purpose behind this is to encash maximum market share for our products. It involves high degree of risk, therefore the necessary steps has to be taken before launching two brands of same product into the market. The best example of this is of brand Becadexamin (Glaxo div.) and Multivite F.M. (Allenburys div. Of Glaxo) both are very successful to capitalize the market.
Diversification strategy contribute product diversification with respect to market potential available in other areas like O.T.C.(Over The Counter)range, agriculture and pesticides, pharmaceutical equipment’s, veterinary etc. the major player in pharmaceutical market with diversification strategies are Cipla, Ranbaxy, Glaxo etc.
It also observed that the Product name or brand name has suggested based on its generic name of the product. The names of brand in Indian pharmaceutical industry is seems to be correlated with its generic name i.e. Ciplox, Cifran, Cibran, Ciplox, Alcipro etc are the brands of Ciprofloxacin a commonly used antibiotic. In the same fashion Norflox, Uroflox, Norspan, Norilet are few amongst the leading brands of the molecule Norfloxacin.
Private Brand or Middleman’s Brand Strategy is growing rapidly in Indian pharmaceutical market because of its method itself, here private brand means a company markets its brand but other manufactures it.
The very true fact could be the governments directions or difficult procedures as to setup new small scale industry, get license, maintain all quality control methods, apply for Indian or foreign quality excellence certificate and so on. Private brand or manufacturing brands from other by loan licensing is also known as backdoor method.
But this type of private brand strategy is seems to be a most successful strategy in today’s pharmaceutical market. Anyone can enter into this market, with some brand names, manufacture from other and market it.
It is also termed as ‘Propaganda brands’ in the market. Propaganda Company strategy involves that they negotiate fix percentage with the doctors and do gives some additional margin to the Chemist as a middleman.
The mushrooming of such companies seen in local area named, Heritage Pharmaceutical Ltd., Professional Pharmaceutical Pvt. Ltd., Cotex Pharmaceutical Pvt. Ltd., are amongst few.