Comparison of Branding Strategies of Pharmaceuticals & Fast-Moving Consumer Goods: An Analysis of Modern World Need

Abstract

Branding is an integral part of any product or service. Branding gives identity to a product, whether it is tangible or intangible. Branding tactics and strategies are not new in the marketing of fast-moving consumer goods (FMCGs), whereas, in the pharmaceuticals (prescription medicines), it is challenging. This article aims to analyze the branding strategies currently in use or been used in the pharmaceutical industry globally; however, this analysis is accomplished with a comparison of the fast-moving consumer goods industry. Thirty-four peer-reviewed studies from around the world in the tenure of 2010 till date have been utilized to analyze the following research. Fore mostly, the branding strategies used in the respective industries have been reviewed for this research's objectivity. The end deductive results obtained from the comparison are employed to conclude how these findings can fulfill the modern world needs.