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Reportlinker Adds Effective Social Media Marketing Strategies for Pharmaceutical Market
Date:8/16/2010

NEW YORK, Aug. 16 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Effective Social Media Marketing Strategies for Pharmaceutical Market

http://www.reportlinker.com/p0258263/Effective-Social-Media-Marketing-Strategies-for-Pharmaceutical-Market.html

Report DescriptionThe high and rapidly increasing popularity of social media platforms such as Facebook, YouTube, and Twitter is expected to revolutionize the marketing strategies employed in the pharmaceuticals industry. In addition to marketing, an increasing number of pharma players have also begun leveraging these platforms to enhance consumer relationships and improve brand management, based on the market intelligence generated by monitoring and analyzing user-generated content.

The ability to incorporate consumer feedback to develop new products is also expected to initiate a strategic shift in the operational model of pharma companies. Social media involvements are expected to increase product sales, especially those of OTC drugs, in the long term. Novartis for instance has already begun using YouTube and Facebook to enhance the sales for its OTC drugs such as Comtrax, Orofar and Bufferin. J&J, one of the first pharma giants to enter the social media space, has used online platforms for crisis management – when the company recalled its products (Tylenol and Benadryl tablets) it used social websites to apologize to consumers for irregularities in its manufacturing plant found during FDA inspection.

Market estimates and forecastThe report provides in-depth social media usage in pharmaceutic
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