Pharmaceutical Marketing Mix Strategy and Physician’s Prescription Behavior

So studying the presence and magnitude of this habit persistence in physician drug choice is very important from a public policy point of view also. If the persistence in drug choice of the physicians increases, it can prevent the adoption of these low-cost generic drugs, and it might put pressure on the overall healthcare costs. Usually generic drugs are known for a cheaper price and easily available in the market, and they can reduce the healthcare costs significantly. In addition, the presence of significant drug persistence in physician drug choice could act as a barrier to the adoption of innovations and of new medical technologies coming up in the market. So understanding of the prescribing behavior or the prescribing trends of physicians

The Pharmaceutical industry has been in the spotlight for decades due to the fact that they have a reputation for being unethical in its marketing strategies. In The Washington Post Shannon Brownlee (2008) states, “We try never to forget that medicine is for the people. It is not for the profits. The profits follow.” This honorable statement is completely lost in today’s world of pharmaceutical marketing tactics. These tactics are often deceptive and biased. Big Pharma consistently forgets their moral purpose and focuses primarily on the almighty dollar. Big Pharma is working on restoring their reputation by reforming their ethical code of conduct.

Forecasts predict that by 2016 Pakistan will be the 11th largest pharmaceutical market in the Asia Pacific region, which is the major core world’s population and growth pole.

Marketing mix is the set of controllable tactical marketing tools which that the firm blends to produce the response it wants in the target market.

The thesis of this article illustrates different aspects to consider in order to bridge the gap between Physicians and their patients as well as Physicians and the pharmaceutical company. Elimimian et al, identify a market to focus on to help illustrate the multiple considerations the marketing manager must take into their marketing plan to successfully market globally. Using Thailand as an example, the authors are able to specifically educate one in a marketing management position on how to carefully choose their marketing technique wisely.

A Marketing Mix is a combination of product, packaging, price, channels of distribution, advertising, promotion, and personal selling to get the product in the hands of the customer. Throughout this paper we will be discussing the 4 P 's of Marketing and provide examples of Marketing Mix. (Kyle, Bobette).

The use of a marketing mix is an exceptional way of making sure that ‘putting the right product in the right place’ will take place. The marketing mix is an important tool to help understand what the product or service can offer and how to plan for a successful product offering. The marketing mix is most commonly implemented through the 4 P’s of marketing: Price, Product, Promotion, and Place.

When a manufacturer is preparing for a global launch, they need to factor demand analysis, segmentation, health outcomes research, competition from generics, and country-specific regulation into their strategy (Rankin & Bell & Wilsdon, 2013). As will be shown throughout this discussion, these steps can be taken, but not without cost. Investing the time and capital into completing such activities can make a global launch difficult and can drain a manufacturer’s resources. Essentially, pharmaceutical product launches are much more complex than just putting boxes on shelves, and launch in itself can affect the end price due to the effort a company puts into it.

Marketing mix is nothing but a critical mix of right amount of efforts and mechanism that is made up of the product that an organisation offers, market segmentation and the marketing strategy, selling the product at the right price and to the right customers through right people.

A major aspect of promotional strategy adopted by the Pharma firms in India, has been, personal selling through medical representatives (MRs). However from last few years particularly after the introduction of product patent regime in 2005, market scenarios started changing drastically. To add to the trouble of Pharma marketers, in a development in July 2012 the Indian Pharma companies agreed in principle to enforce a code that will restrict them from offering gifts or other SOPS to doctors. This has resulted in changes in the level,intensity and parameters of competition. MRs who earlier acted as the backbone for the Indian Pharma sector ,are finding it very hard to compete, and to make every interaction with doctors, count. Today the Pharma companies that leverage technology solutions such as ERP, CRM, mobility solutions, only have the scope of survival in future. Pharmaceutical companies are gradually realizing that they can no longer afford to be only product or market focused. They have to focus now on relationship marketing or customer

MARKETING MIX Thus the overall marketing strategy is outlined. The next step is to choose the most appropriate marketing mix – the 4Ps that will bring the company the best response to its wants. Product – the portfolio of goods-and-services the company offers to the target market Price – amount of money to be paid, adjusted to the current competitive and economic situation, in line with buyer`s perceptions of the product`s value. Place – all the activities that make the product available to target consumers, including intermediaries, distributors, sellers. Promotion – all the activities that present the unique characteristics of the product and persuade the customer to buy it.

The Researchers have three major pharmacitical outlets in Lahore Fazal Din, Servaid and Guardian pharmacy and they are find the some issues which researchers are going to discuss below…

Marketing mix refers to the enterprise for their target market needs, control various marketing factors (product, price, place and promotion) to optimize the combination and comprehensive utilization, in order to accomplish better economic and social benefits (Chai, 2009, p.4). Place and product will be attached more importance in this section.

Marketing Mix is defined as “A combination of the product itself, the price of the product, the place where it is made available and the activities that introduce it to consumers that creates a desired response among a set of predefined consumers.”

Marketing mix is the set of controllable tactical marketing tools–product, price, place, and promotion–that the firm blends to produce the response it wants in the target market