Buzzdetector and the University of Florence launch the Pharma Trends Observatory Online (PhTOOL) for OTC products
Results will be published in January 2013 and are set to have a positive impact on how pharmaceuticals conceive their marketing strategies
Buzzdetector the web and social analysis firm, is launching with the University of Florence, one of the oldest and most highly-regarded research institutions in Italy, the Pharma Trends Observatory Online (PhTOOL), a data project into online marketing and advertising trends for over-the-counter (OTC) products in the pharmaceutical industry, with the goal to create an observatory for long-term trends.
This study, the first to be conducted on this topic, will monitor and analyse the impact of online conversations, search patterns, advertising spend and market share for the Italian marketing of OTC pharmaceutical products.
For PhTOOL, 20 students currently studying strategic marketing and communications at the University of Florence will work directly with the Buzzdetector team using its proprietary listening platform, to monitor and analyse the online branding of 150 OTC pharmaceutical products. The study will include all the major brands and span seven product groups: analgesics; antacids; laxatives; anti-varicose treatments; flu vaccines; cough and throat medication.
“We’ve learnt from working with our pharmaceutical clients that marketing and particularly online marketing is a complicated area due to the highly-regulated nature of the industry. Our hope is that this study will provide insights that will allow pharmaceutical companies to re-evaluate and refine how they approach their marketing and advertising” commented Gianandrea Facchini, Founder and CEO of Buzzdetector. “We are honoured that Professor Guercini and the University of Florence have chosen to work with us on this ambitious project.”
The results of the project will be published in an industry report in January 2013 and will be presented at a public event; they will also be available online via the Buzzdetector website. The monitoring tool created in the project will be also made available from February to pharmaceutical companies on a licencing basis for them to be able to monitor and analyse their own products.