...The Pharma Innovation Journal 2014; 3(7): 08-12 ISSN: 2277- 7695 TPI 2014; 3(7): 08-12 © 2013 TPI www.thepharmajournal.com Received: 14-08-2014 Accepted: 28-08-2014 Rizwan Raheem Ahmed Professor, Department of Business Administration & Commerce Indus University, Pakistan Pharmaceutical marketing mix strategy and physician’s prescription behavior Rizwan Raheem Ahmed ABSTRACT Purpose: This research paper gives an insight about the processes used by local and MNCs pharmaceutical companies in Pakistan.The purpose of our research is to examine that what factors affect physician prescription behavior based on ethical grounds. Methodology: This research focuses on the strategies and marketing tools used by pharmaceutical companies in Pakistan, and how Physicians behave against all these marketing strategies in terms of Prescription patterns. The questionnaire survey method is used for data collection and SPSS is used for Correlation and Regression techniques for the understanding of Physician’s prescription behaviour. Findings: The data analysis figuring out the correlation of these variables with the subject of the study i.e. factors influencing the prescribing behavior of the physician. The data shows the significance level of individual independent variable as Promotional tools. According to the results of Multiple Regressions Analysis (MRA) the researchers can conclude that independent variables have significant relationship with dependent variable. Therefore other all hypotheses...
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...Running head: DIRECT-TO-CONSUMER COMMUNICATION BY PHARMACUETICAL Abstract This research paper presents an overview of the direct-consumer communication issues by pharmaceutical organizations. In addition, this paper examines some of the sectors that are rampant to litigation within this pharmaceutical industry. It illustrates why effective communication is essential for pharmaceutical organizations, because it greatly affects various levels of productions, reputations, revenues, public awareness, services, products and trademarks. It also includes a comprehensive synopsis regarding the development issues related to applying communications as part of corporate ethics, marketing, publicizing and sales strategy. The example illustrated in this paper is in relation to one of the largest lucrative industry sectors, but applies to all industry sectors and organizations offering both products as well as services. Furthermore, this paper validates an overview of how Johnson and Johnson, one of the world’s philanthropic and ethical leader in the pharmaceutical industry, continues to develop complex organizational issues, such as communications regarding their pharmaceutical marketing practices. Direct-to-consumer communication by pharmaceutical organizations Running head: COMMUNICATION BETWEEN THE PHARMACUETICAL INDUSTRY Communication is defined as “the process by which information is transmitted and understood between two or more people”(McShane & Glinow, 2010, p. 270) Effective...
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...FINAL GROUP REPORT ON “RADHUNI” [pic] Letter of Transmittal 27th April, 2010 Sumon, Stanley Rodrick The course teacher Principle of management American International University Bangladesh Banani, Dhaka-1213. Subject: Submission of report. Dear Sir, It is our great pleasure to put forward this report that you assigned us on “A study on a Brand” which is the “RADHUNI”. We have tried our best to bring about our research objective effectively. Under your supervision we have completed our respective job. In our observation we tried to find out the present situation and try to present in our report. By doing this report we have learned many things that will help us in the future. This is a real life report so that we will always be available for any supplementary that may oblige. We are giving you thanks again for giving us a chance to present a report to you and hope it will positively help us. Yours Sincerely, • Roy,Supta • Siju,Mariyam Akhter • Shanta,Sharmin Shahin • Ahmed,Salvana • Chowdhury,Farzana Mustafa Acknowledgement i) Acknowledgement: First of all we would like to thank the Almighty for giving us the time, patience, energy and will power to finish this assignment. Then we would like to thank our course instructor Mr. Sumon, Stanley Rodrick for making us do this assignment...
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...| A CRITICAL PERSPECTIVE ON STRATEGIC CSR AS A TOOL FOR MARKETING AND BRAND DIFFERENTIATION | | | Mattias Norén, Niklas Nygård | 2014-01-16 | | “What are the underlying reasons for abusive Strategic CSR in marketing and brand differentiation, what are the consequences and are there any solutions?” Introduction to CSR For Corporate social responsibility(CSR) a lot of different definitions exists but the one we chose to use in this report was defined by (McWilliams, Siegel och Wright)) as “actions that appear to further some social good, beyond the interests of the firm and that which is required by law”. This definition defines a wide concept that contains everything from corporate environmental strategies, employee empowerment, health and benefit plans for employees and corporate philanthropy. The linking factor between these different implementations is that corporations and businesses should expand their responsibility beyond absolute necessity and their core stakeholders group. While CSR is very modern as a defined concept it is still based on a lot of old ideas. For example many companies in the late 1800s based its business on scientific betterment which often meant that employee benefits was taken a lot further than the requirements of the law (Barley och Kunda). Today CSR has evolved to something more than the initial idea of expanded responsibility and it’s used as a tool for companies to reach goals outside of areas normally connected to CSR...
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...Unethical Marketing of Prescription Drugs: Misleading Direct-To-Consumer Advertising and Disease Mongering. October 3, 2011 Unethical Marketing of Prescription Drugs Introduction The purpose of this ethical paper is to investigate the marketing tactics being used by pharmaceutical companies and discuss the ethical issues involved. The primary source of information discussed in this paper was gathered from analysis of business and scholar journals, case studies, and current news articles. The main focus of my research was placed on the unethical practices of pharmaceutical companies and the current marketing regulations in the United States. The unethical practices primarily covered in this paper include disease/fear mongering, and the misuse of direct-to-consumer & physician-directed marketing to increase the profits of pharmaceutical firms. But before we get into the unethical practices taking place in today’s pharmaceutical industry, let’s take a look at the idea of ethics. So, what exactly is ethics? Merriam-Webster defines ethics as “the discipline dealing with what is good and bad and with moral duty and obligation,” and “a theory or system of moral values” (Merriam-Webster, 2011). As you can see, this is a complex but vague definition to say the least. In today’s world of international business where firms operate across cultural boundaries and face stiff competition in the fight for profits, it’s even more difficult to clearly define the meaning of...
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...about a conflict and how its resolution came about. This report is about a diabetic pill Avandia which can likely cause heart disease, this is the most current of series of pharmaceutical frustrations. A common pill which is VIOXX was taken down from the shelves from 2004 since it increased a danger from heart attacks and strokes. Several have disapproved the Food and Drug Administration from being too sloppy regarding examining drug protection. Whomever was too blame did have worth, there is an additional wrongdoer: those with of the exchange of continuous medical teaching keen to an initiative for drug marketing. The principle of coaching medical teams on how to observe medicine has been prearranged to the pharmaceutical business. Therefore, risky side effects have been left off the program. The states that describes for those doctors to acquire a least amount of credit hours of continuous medical teaching every twelve months to continue with their medical certificates. Here recently, most of those classes were constructed and rewarded for by colleges and association of medical. Although this has been misrepresented significantly over a decade. Nearly partly of the entire ongoing medical teaching classes in the United States are currently compensated by drug companies. Since pharmaceutical companies nowadays place a great amount of the program for what doctors study about drugs,...
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...Unethical Research Practices Unethical research is commonly found within pharmaceutical companies. In a hurry to get new drugs to market, companies will often cut corners during the research process. Pharmaceutical companies will spend millions of dollars on drug research, but very little on unethical drug promotion (Parmar, Jalees, 2004). The purpose of this paper is to inform the reader of how unethical research practices can lead to death from both past and present case studies. Present Rizwan Rahim Ahmed and Dr. Ahmed Saeed conducted a case study concerning ethical and unethical pharmaceutical marketing practices in Karachi City, Pakistan (Ahmed, Saeed, 2012). The results were very alarming to the world. The study indicated that doctors, hospital administrators, and pharmacies were receiving kickbacks from the pharmaceutical industry for prescribing their drugs to patients. The case study concluded that participants had different levels of blame. For example, the study shows that four out of five doctors were receiving money from these companies. Still today the government of Pakistan turns a blind eye to this type of unethical behavior. Research found that doctors were prescribing unnecessary drugs to patients regardless of the medical outcome. The more medicine they prescribe, the more money they would receive from the pharmaceutical companies. The study concluded that this type of unethical practice is common throughout the world but severe with regard to developing...
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...Assignment 2.1 Ford Analysis PSPR 6208 Strategic Marketing and Communications Fall 1 2013 1. Where would you put Ford in terms of competitive position? Why? By shifting their focus, developing a new marketing strategy and focusing on the Ford brand, Ford has dramatically enhanced their competitive position and turned things around for the company. In doing so, they strategically placed themselves back at the top in terms of competitive position. This was no small feat, especially considering the fact that they were in far worse shape than most car companies as recent as 2008 (Kotler & Armstrong pg 547). Ford with the assistance of new CEO Alan Mulally fought hard against bankruptcy and even harder to gain consumer trust in the company and the brand. This strategy has helped Ford to gain a competitive advantage, especially in terms of customer satisfaction. 2. Is Ford a market-centered company? How can it improve in this area? Considering the fact that Ford currently pays attention to both customers and competitors in designing the company’s marketing strategies, I would say they are definitely a market-centered company. This may not have always been the case, as is evident from reading the case study. At some point, Ford took its eye off the market, loosing focus, especially in regards to customer needs. I think that they were driven to shift their focus by several factors, top of mind being the dire economy. Moving forward, they will need to play...
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...Social Media Marketing BUS508: Contemporary Business November 30, 2013 What is Social Media Marketing? Why has Social Media Marketing become so popular? Is it now the most effective way to advertise and market? I have chosen to first define both marketing and social media. In my analysis it will allow you to fully grasp the importance and meaning of marketing and social media. My analysis will also allow you to easily determine why Social Media Marketing has become so popular among businesses. I’m a big believer in social media so I will display that throughout my paper. With technology in this day and age people always have the Internet in the palms of their hand and social media is always a button away. What is marketing? Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Boone & Kurtz, 2012). Without proper marketing strategies businesses would not be able to sell their goods and services. The most effective rule to consumers is to ensure that they always get what they want and always meet their needs before they ever surface. Marketing has always been part of business, from the earliest village traders to large 21st-century organizations producing and selling complex goods and services (Boone & Kurtz, 2012). How people market has now evolved and is now more on social media than ever. Social media is one of the...
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...CASE STUDY: MCDONALD’S Executive summary This case study looks to evaluate marketing within McDonald’s and will look into how it has affected McDonald’s in terms of its position within the market. Through research, a positive correlation has been revealed between how successful a company operates and how committed they are in terms of customer focus and its marketing strategy (Kloter and Armstrong, 2010). This study will demonstrate how McDonald’s marketing strategy has helped render the company a global success. This is shown through the SWOT analysis. This study has found that the pivotal ingredient in this company is the unique and effective marketing strategy. Also to be credited was that the strategy showed that there were areas which could potentially disrupt the current rate of success (in terms of monetary results) If they are not rectified. A recommendation could be to increase the amount of ‘Healthy foods’ McDonald’s currently offer, to do so McDonalds would need to invest more in their product segment of the marketing mix. Introduction In many cases a company does not become successful overnight. There are a number of key ingredients which need to be focused on, in order to achieve its potential. An important part of this is the ‘marketing strategy’. The majority of successful firms invest large sums of capital and time into tailoring their strategy focusing on the potential changes in customer levels, rivals and the environment (Bradley, 2005). McDonald’s currently...
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...Problem Statement Jeff Johnson, who saw that an informal Pacific style restaurant and bar on the site of a barrier island had potential for development. He then used his savings and some financial assistance from his family to build Jumpin’ Jeff’s Beach Bar on the barrier island. After Jumpin’ Jeff’s opening, Mr. Johnson soon realized that there are lots of challenges waiting for him, such as price setting, menu development, staffing issues, and cultural issues. Situation Analysis Since Jeff Johnson owns the land, Jumpin’ Jeff’s Beach Bar is the only one on this particular island. Mr. Johnson had chosen a good restaurant location, as he has a monopoly of business on the island. He can do whenever businesses he wants on the island. Mr. Johnson spent a lot of money on design elements, as every supplies and equipment is shipped from Florida. The restaurant was designed in a South Seas beach-hut style with shutters, which should be pretty eyes catching. The island itself is a barrier island, open on the eastern side to the Atlantic Ocean and the western side to the Haven. The other side of the Haven is a very small town, Kingsville, with two grocery stores, three churches, two resorts, two gift shops, and a small open-air market open on Tuesday and Saturday mornings. The Haven is popular in winter with cruising small boat sailors looking for a good anchorage in a sheltered harbor, amenities provided by the grocery stores and a place where they could order parts for their boats...
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...the effectiveness of their marketing strategies for TWO elements of the marketing mix. Microsoft Corporation Table of contents Microsoft corporation overview 3 Introduction 3 Marketing strategies and their effectiveness 4 Conclusion 5 Reference list 6 Appendix Financial Statements For Microsoft Corporation: annual data 7 Microsoft corporation overview Microsoft is a public multinational corporation founded in Albuquerque, New Mexico on April 4th, 1975 by Bill Gates and Paul Allen. Where know the head quarters are in Redmond, Washington, USA with Steve Ballmer (CEO), Brian Kevin Turner (COO), Bill Gates (Chairman), Ray Ozzie (CSA), Craig Mundie (CRSO) and approximately 89,000 employees. Introduction Microsoft became one of the largest and most profitable companies in the world. Its founder, Bill Gates, became one of the wealthiest people in the world. Microsoft products enjoy a market share of more than 90 percent of the operating systems business worldwide. Microsoft has continued to expand and to update its product offerings and in doing so, it continues to spur demand among software buyers for Microsoft's newest and best products. The company has successfully navigated through changes in technology, the rise and fall of competitors, the growth of the Internet, and the globalization of business. In order for this success, Microsoft implemented marketing strategies in the marketing mix of product and promotion...
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...Defining Marketing April 7, 2014 University of Phoenix Defining Marketing Marketing, in essence, is a company differentiating itself from its competitors. Organizations use marketing strategies to promote their product. Perreault, Cannon, and McCarthy define marketing as “the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need satisfying goods and services from producer to customer or client” (2011, p. 6). Companies must focus their resources on these products to increase sales and competitive advantage. According to Kotler and Keller, “Marketing is about identifying and meeting human and social needs” (2012, p. 5). Companies use marketing strategies to spark interest, promote, and educate the consumer. A dental company must continuously reinvent itself from a marketing standpoint. In a town with a population of over 117,000 people and over 40 dentists the demand for dentistry is always present, but so is the competition. It is important for a dental office to keep their name at the forefront of dentistry. It is vital that an organization not only creates an exceptional product or service, but also delivers what they promised. An organization is only as good as their consumers perceive them to be, so it is greatly important that their marketing begins in-house with their current patients. There is no more cost-effective way to market than word-of-mouth...
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...The importance of marketing in Law Firms Introduction The importance of good and accurate marketing in the legal industry is growing as a response to the high competition among the industry and because of the innovations in technology. In the past, the common marketing practice among law firms to publicize their business and services depended exclusively on word of mouth. Over the years and due to the wide offering and competition among law firms, the above has radically changed and lawyers and law firms are now taking a more aggressive and proactive approach to market their firms and shopping their services within the market. Why should a law firm focus on efficient marketing strategies? Due to the fact that today lawyers live in a very competitive market place and clients are sophisticated, demanding and price sensitive, lawyers and law firms need to spend a great portion of their budget and time to think and determine the best way to provide upscale offering and services in order to get a competitive advantage and a wider market share. Creating value and offer a differentiated service and product are key factors for the law firms in order to get hired by clients. Every person that is part of the law firm should strive to offer a premium service sometimes in detriment of quantity. Since clients are price sensitive, having a better product than competitors create value and a competitive advantage for the law firm. Law firms should be selective when choosing work and clients...
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...gary a. sanchez * Blog * How I Can Help * Corporate * Small Business * About Me * subscribe via RSS Understand the Difference Between Strategy and Tactics to Unlock the Power of Your Social Media Marketing by garyasanchez “Strategy is doing the right things. Tactics is doing things right.” ~various attributions, including Peter Drucker and paraphrased from Sun Tzu I recently posted a series of slides from prominent social media thought-leaders as to why social media is not a retail marketing strategy. The point was not to diminish the potential value of social media or inbound marketing, for there are considerable benefits to be realized. Rather, my point was to assert that the use of social media and inbound marketing tactics can benefit tremendously by being used to support general marketing strategies and online content strategies. Starting your marketing efforts with well thought out strategies will help you manage limited resources, help you understand what’s driving success and failure, and accelerate success by unlocking the creativity that exists within your organization. Goals, strategies and tactics Before you can speak intelligently about the differences between strategies and tactics, you first need to start with the purpose of having strategies and tactics. The biggest reason is to help you achieve a goal. A goal is a specific result that your business needs to achieve in order to sustain itself, usually through revenue growth or expense...
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