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The aspect of brands and marketing development in pharmaceutical industry

Veselin Dickov, Sasa Igic

Abstract


The product is something made in factory; a brand is something that is bought by a customer. A product can be copied by competitor; a brand is unique. A product can be quickly outdated; a successful brand is timeless.’ Developing a successful brand yields numerous consumer benefits, and leads to easier accomplishment of market goals as well: Reduced marketing costs due to high levels of brand recognition and express brand loyalty. The basic function of any trademark or brand is to make the product unique, different from others. ‘A brand is a name, term, sign, symbol, or design, or combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.


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