Monday, November 14, 2011

Pharmaceutical advertising's little engine that could

        In every aspect of business, there's a wide range of companies that offer similar products and services. They come in a variety of sizes. In the pharmaceutical advertising market, size does NOT appear to matter. I'd like to formally introduce you to Concentric Pharma Advertising. Ever heard of it? Probably not. However, I can almost guarantee you've been exposed to it's work numerous times. Not only is Concentric one of the industries "smaller" companies, but it's also one of the most unique. What's their mission statement? Well, there mission statement is more than just a statement...it's a foundation.
         Founded in 2002 by late visionary owner Ken Begasse, Sr., Concentric's goal was to stand out from the crowd. Known to his employees and many others as "Senior," Begasse laid down a basic foundation for what he wanted from his company..."to build an agency that truly understands the unique complexities of the customer/brand relationship in the healthcare space. And with that understanding, to build simple, intelligent, elegant promotional programs that move our brands forever."Nine years later, Begasse's legacy powers forward. Despite Senior's untimely and unfortunate passing in 2010, his son, Ken Begasse, Jr., has kept his father's dreams alive at the helm of the company. Headquartered in the SoHo district of New York City, Concentric bring some serious truth to the "big things come in small packages" saying. According to MMM.com, a monthly business publication dedicated to the healthcare marketing industry, Concentric recorded a gross income in 2010 of $15-25 million, while at the time, employing only 95 full-time employees. The website also states that Concentric does about 50% of its business under the digital marketing category, while devoting 25% to sales marketing, 15% to professional ads, and the remaining 10% to direct marketing. According to Manta.com, a website centered around the highlighting of small businesses, Concentric's products and services include "Advertising, Strategic Planning, Branding, Emerging Media, Relationship Marketing." Some key clients and brands represented and highlighted by Concentric on their website include Bayer Healthcare (Betaseron), Pfizer/Wyeth (Viagra and Toviaz), and LEO Pharma (Taclonex), amidst many others. Unlike its competitors, Concentric has a very specific target audience...everyone involved. According to the company's website, they've created something called the CustomerCentric Strategy Model. What's that? "We created a unified promotional program where patients, physicians, and payers can find their common center - the place where their priorities align - by giving them all the knowledge they need to make intelligent healthcare decisions." Interested in learning more about Concentric? Visit their informative and very creative website by clicking here!

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