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Marketing Communications Today Blog

      

About Marketing Communications Today

Marketing Communications Today is a collection of resources for marketing communications professionals filled with industry research, marketing trends, and career information about integrated marketing and data-driven communications. Learn industry insights through the Marketing Communications Today blog, podcast, as well as Integrate Online.

Fueled by the academic innovation coming out of WVU’s own Integrated Marketing Communications, Data Marketing Communications and Digital Marketing Communications programs, this content will provide both aspiring learners and seasoned marketing professionals with better insights into what’s now and what’s next in marketing and communications.


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Healthcare Marketing is Moving Fast, but Where?

The term “Healthcare” covers both the medical and the life sciences industries, and marketers in these fields enjoy all kinds of opportunities. Professionals are navigating the dynamics of an increasingly engaged and empowered end-user patient base, while also juggling a complex and diverse channel strategy—all within a highly regulated environment. While this may stunt the speed of change in other industries, there’s no such slowdown here. Our guest, Jean-Francois (JF) Denault, shares with us what’s going on in Healthcare marketing, from AI-driven chat and social media, to the move from cost-based to value-based messaging. JF has worked in Healthcare and life sciences marketing for over 20 years, and has his own consultancy working with big names in pharma and medical devices. JF has written two books on the subject and is located in Montreal, Canada. Join us for a lively, informative conversation.

Ruth Stevens: I hear a lot about healthcare marketing, life sciences marketing, pharma marketing and medical device marketing. What's a good way to categorize this?

Jean-Francois Denault: We can split these into two broad categories. When we talk about healthcare marketing, we're mostly talking about providers — hospitals, clinics, nursing homes, physiotherapist, dentist. They're the people that are providing care directly to a patient. When we look at life sciences, it's a little broader category. It'll vary from one person to another. From my perspective, life sciences include all companies that are developing these technologies, being drugs or medical devices for the care of the patients. It will include the pharmaceutical companies, the biotech, the Med Tech, digital therapeutics, digital health.

Read Full Article: Healthcare Marketing is Moving Fast, but Where?

Of the Four Ps, Pricing may be the Key to your Future

In the marketing profession, we have depended on the Four Ps as foundational to business success. But is that still relevant today? Tune in and learn why Rick Spear says ignoring the Four Ps is like ignoring the alphabet. In this episode, we discuss how pricing, above other strategies, has become the secret weapon for marketers in managing through these uncertain waters of inflation, recession, and constant change. But to wing it or make guesses benefits no one. Pricing is the top strategy to gain—or regain—value. Find out why Rick says that the critical question we need to keep asking is: “What will it take to earn 1 point of market share?” HINT: A few key insights can trump terabytes of data.

Ruth Stevens: Looking at the Four Ps, where do you think pricing rests in terms of importance and impact?

Rick Spear: Pricing, independently of the other Ps, drives top line. It's where the rubber meets the road in terms of value proposition and go to market. The real question is not just what is your pricing level, but in fact, how are you capturing value? In the world of capital markets the question is, are you a price maker or are you a price taker? And the answer is, it really doesn't matter. Because if you're a price maker you still have to take the right prices. If you’re a price taker, you have to think if you’re taking the optimal amount of money off the table for the short term, the medium term or the long term. The idea is that value is constantly being redefined. Pricing represents the ultimate dynamics in terms of competitive positioning, in terms of the needs of the of the customers in terms of the value that the products that we're bringing to the table provide today, as well as the promised value of those products tomorrow.

Read Full Article: Of the Four Ps, Pricing may be the Key to your Future