MBA students at IITK got an opportunity to meet Mr. Kalairaj who has more than 20 years of experience in Market Research domain in Pharmaceutical Industry. At present he is looking after the Market research function of Ranbaxy India Region. In the past he played a pivotal role in setting up Market research departments in DRL, Cadila & Panacea Biotec.
Mr. Kalairaj kicked off the discussion talking about the changing faces in Indian subcontinent touching upon the economic, technological, educational, cultural changes and how these changes are relevant in business context today. He then gave an overview of the Pharmaceutical industry in India and recently emerging trends in this sector. Some of the top therapeutic areas include Anti-infective, Diabetes, Cardiac, and Neurological. He gave lot of interesting insights on brand building in general and that of Pharma sector in particular and described how 30-70 rule doesn’t hold good in Pharma industry. The speaker talked about the various drivers of Indian Pharmaceutical sector.
The differentiating factor in Pharmaceutical marketing is that the decision maker is different than the user/buyer, he told. He described how the product component in the marketing mix should be broken into as many features as possible and the benefits be communicated to the customer. Towards the end, he discussed a classic case of Market Research whereby a particular Pharma brand wasn’t doing well and how the company approached/identified/resolved that problem which ultimately led to increase in brand recall. He also enlightened the students on how to use the marketing concepts learnt with their simple applications in practice.
The session was highly interactive with questions pouring in from the students throughout the discussion on Marketing & MR in Pharma vertical. Overall the students found the guest lecture to be enlightening and immensely useful.
MBA 2011-13 Batch
PR & Media Cell