by Readge Pharma Consultants
professional naming
for the healthcare and pharmaceutical industry
Brands stay relevant by differentiating themselves in a world that changes continuously. This is achieved by remaining true to their essence, which is why well chosen brand names are invaluable. Since 1984 Globrands articulates the brand’s identity in a way that is effective, appealing, future ready, and unique.
Naming for health and pharmaceuticals
Brand as key differentiator
The end of drug patents also introduces complexity for brands with the rapid emergence of competition delivering the same performance but much cheaper.
What is left if the product formulation is out of patent? The brand name and brand resonance can keep valuable connections and reasons-to-believe with the consumer. The competition of the future no longer takes place between different products and services but between the values built into names.
Many names are worth much more than the product itself. The product should be very good, and it pays to develop a strong name that can make the product successful and can last longer than the patent does.
Want to learn more about our expert services? Contact us for a virtual coffee and your questions
Rethink brand development
This calls for a radical reassessment of the value of brands within the industry and a rethink of how brands are developed, managed and maximized.
The patient is less concerned with how a drug works and more concerned with what that drug can do for them, so brand names should be more benefit oriented and communicative across and relevant to a wider set of target audiences. Globrands' expert unit pharmanaming.com delivers evocative and memorable names, executed in a manner that differentiates your product from the competitive landscape. Globrands works on the creative name development of brand names with clients ranging from the world’s largest multinational companies to small start-ups with great potential.
As pipelines produce more diminishing returns and as generics prove an ever greater force to be reckoned with, one of the fundamental challenges for the pharma industry is making that all-important transition from the current model of profit maximization before product obsolescence, to one of brand maximization to prevent obsolescence.
From incrowd to public
In the past, pharmaceutical products had names and languages that were mostly known within the industry and by medical experts. However, today the pharmaceutical industry relies heavily on brand recognition. The public discusses these brands in the media, and patients and caregivers talk about them online. As a result, people now ask for specific brands when they visit their doctors. This shift in the healthcare landscape means that companies must change how they approach brand development.
Engage with the end-user
The need to engage with the end-user has caused companies to rise to the challenge of speaking the patient’s language as much as the prescriber’s language, ultimately resulting in a new way of pharma and health branding to create a relationship with both prescribers and patients.
A well-balanced brand name is a strategic tool in your communication.