Pharmaceutical companies are entangled in promoting functional benefits and need to focus on emotional branding to excel in today’s hyper-competitive environment, said Akhtar Mahmud, a branding expert and consultant.
Addressing the participants of a two-day workshop, jointly organized by Management Excellence Center of IoBM and Marketing Association of Pakistan, he also discussed different cutting-edge branding concepts and practices being adopted by several pharmaceutical companies in various parts of the world.
He was of the view that a paradigm shift had been observed vis-a-vis the branding practices of the local pharmaceutical companies and the industry is at the verge of the tipping point in this evolutionary process. Mahmud shared a number of commendable examples and elaborated upon various concepts of branding with the help of several case studies. Dr Faraz Alam, co-trainer of the workshop, also highlighted few exemplary positioning practices from the local and international industry. A host of innovative behavioral concepts including sublimation, somatic markers, Oedipus complex, Electra complex, fetishism were also discussed during the workshop.
