Prescribing a Global Identity
- Topics:
- Brand Management
- Tags:
- Balance Sheets,
- Brand,
- Branding,
- Finance,
- Financial Accounting,
- Financial Statements,
- Identity,
- Interbrand,
- Marketing
- Source:
- Interbrand
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Overview: In consumer markets, branding is used to sell a commodity product at a higher price, and create something lasting. It is something you can put on your balance sheet. However, for drugs there is an agreement with price, as it is recognized that companies need to recoup their R&D costs. In addition, once a drug's patent runs out, nothing will protect its sales, so the brand is more or less finished – it is not long lasting. Pharmaceutical companies need to build brands not to add value to products but to increase recognition. Here this article helps and explains the importance of brand building.
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Format: HTML | Date: Jun 2002 | Pages: 1
