5 Interesting Stats Assignment #3
Name: Samhith Vanipanta Company/Industry Focus: Pharmaceutical Business
Interesting Stat Impact Opportunity? Why? Threat? Why?
from Assigned
Marketing Week VH, L,
readings M, H,
VH
Consumers M Recommendations from friends and family can
more likely to increase the customer’s trustworthiness on the
be influenced by pharmaceutical product they wish to buy. Consumer
friends and trust is especially important in the pharmaceutical
family business, due to the nature of the company being
responsible for the health and wellbeing of their
Source: customers.
Bazaarvoice
Pharmaceutical companies are able to better connect
with their customers because of the positive reception
they received. Customers sharing their experience with
the products to others are basically spreading positive
reinforcement on the products. This especially can
prove highly effective when done on social media, due
to how quickly news is spread online.
Most marketers M Generative AI can help pharmaceutical companies
believe convey complex medical information to both
generative AI professionals in the business and customers/patients.
will help them They can also have this for marketing campaigns
do better work where their purpose is to educate its viewers.
Source: Adobe Pharmaceutical companies can also use generative AI
to make better customer experiences by providing
proper communications and support to their patients,
such as informing them of each medicinal product and
stating why they must take it. This can overall improve
customer satisfaction.
Generative AI can also be used to analyze data. AI can
quickly scan through all the information required and
provide data on certain product receptions, trends,
what works and what doesn’t work with customers,
etc. This can help in developing better products,
marketing strategies and as well as allow the
companies to better engage with their customers and
their needs.
Did you road test your ideas and thinking in a self-selected triad? YES
Who were your Triad Members? 1. Saiteja Goud Karingu 2. Shrinath Lolam
