Competition In The Pharmaceutical Industry How Do Quality Differences Shape Advertising Strategies
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| Author | : Maria Angeles de Frutos |
| Publisher | : |
| Total Pages | : |
| Release | : 2010 |
| Genre | : |
| ISBN | : |
We present a Hotelling model of price and advertising competition between prescription drugs that differ in quality/side effects. Advertising results in the endogenous formation of two consumer groups: brand loyal and non-brand loyal ones. We show that advertising strategies are strategic substitutes, with the better quality drugs being the ones that are most advertised. This positive association stems from the higher rents that firms can extract from consumers whose brand loyalty is endogenously determined by promotional effort. The model's principal hypotheses on advertising and pricing strategies are taken to the data. The latter consists of product level data on price and quantities, product level advertising data as well as the qualitative information on drug quality contained in the Orange Book compiled by the Food and Drug Administration (FDA). The empirical results provide strong support to the model's predictions.
| Author | : Maria Angeles de Frutos |
| Publisher | : |
| Total Pages | : 19 |
| Release | : 2016 |
| Genre | : |
| ISBN | : |
We present a Hotelling model of price and advertising competition between prescription drugs that differ in quality/side effects. Promotional effort results in the endogenous formation of two consumer groups: brand loyal and non-brand loyal ones. We show that advertising intensities are strategic substitutes, with the better quality drugs being the ones that are most advertised. This positive association stems from the higher rents that firms can extract from consumers whose brand loyalty is endogenously determined by promotional effort. The model's main results on advertising and pricing strategies are taken to the data. The latter consists of product level data on prices and quantities, product level advertising data, as well as the qualitative information on drug quality contained in the Orange Book compiled by the Food and Drug Administration (FDA). The empirical results provide strong support to the model's predictions.
| Author | : Min Ding |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 763 |
| Release | : 2013-10-31 |
| Genre | : Medical |
| ISBN | : 1461478014 |
The pharmaceutical industry is one of today’s most dynamic and complex industries, involving commercialization of cutting-edge scientific research, a huge web of stakeholders (from investors to doctors), multi-stage supply chains, fierce competition in the race to market, and a challenging regulatory environment. The stakes are high, with each new product raising the prospect of spectacular success—or failure. Worldwide revenues are approaching $1 trillion; in the U.S. alone, marketing for pharmaceutical products is, itself, a multi-billion dollar industry. In this volume, the editors showcase contributions from experts around the world to capture the state of the art in research, analysis, and practice, and covering the full spectrum of topics relating to innovation and marketing, including R&D, promotion, pricing, branding, competitive strategy, and portfolio management. Chapters include such features as: · An extensive literature review, including coverage of research from fields other than marketing · an overview of how practitioners have addressed the topic · introduction of relevant analytical tools, such as statistics and ethnographic studies · suggestions for further research by scholars and students The result is a comprehensive, state-of-the-art resource that will be of interest to researchers, policymakers, and practitioners, alike.
| Author | : Mickey C. Smith |
| Publisher | : CRC Press |
| Total Pages | : 435 |
| Release | : 1991-10-24 |
| Genre | : Medical |
| ISBN | : 1439810915 |
Reflecting the fascinating and dramatic changes in pharmacy, pharmaceutical education, and the pharmaceutical industry in recent years, this authoritative volume focuses on the practice of marketing both prescription and nonprescription medications. In a dozen comprehensive chapters, author Mickey Smith highlights the economic social, and
| Author | : Stuart St P. Slatter |
| Publisher | : Routledge Library Editions: Marketing |
| Total Pages | : 156 |
| Release | : 2015-12-09 |
| Genre | : Drugs |
| ISBN | : 9781138971363 |
This book examines the nature and extent of competition in the pharmaceutical industry and analyses the interaction between market structure and selected elements of the marketing mix. It provides valuable insights into the level of promotional expenditure required to achieve a significant market share for new products; the use of price, new products and promotional strategies to protect market share; the effects of patent expiration on price levels and the use of pricing strategy to achieve market share. The book includes a brief comparative analysis of competition and marketing strategies in the US ethical pharmaceutical market.
| Author | : Luis C. Corchón |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 547 |
| Release | : 2018-02-23 |
| Genre | : Business & Economics |
| ISBN | : 1788112784 |
This second volume of the Handbook includes original contribution by experts in the field. It provides up-to-date surveys of the most relevant applications of game theory to industrial organization. The book covers both classical as well as new IO topics such as mergers in markets with homogeneous and differentiated goods, leniency and coordinated effects in cartels and mergers, static and dynamic contests, consumer search and product safety, strategic delegation, platforms and network effects, auctions, environmental and resource economics, intellectual property, healthcare, corruption, experimental industrial organization and empirical models of R&D.
| Author | : Subba Rao Chaganti |
| Publisher | : BSP Books |
| Total Pages | : 1182 |
| Release | : 2024-05-08 |
| Genre | : Business & Economics |
| ISBN | : 8197252025 |
Transactional to Transformational Marketing in Pharma: The Science of Why and the Art of How is a ground breaking book that explores the current state of the pharmaceutical industry's marketing practices and how they can be improved. Despite being instrumental in saving countless lives and improving the health of people worldwide for over a century, the modern pharmaceutical industry has suffered from a tarnished reputation due to unethical business practices and transactional marketing. In this timely and informative book, the author delves into the reasons behind pharma's fall from grace and shows how transactional marketing practices cannot build brand loyalty or reputation. Instead, the book highlights the importance of transformational marketing practices and ethical business behavior, which can lead to long-term success and customer loyalty. Using real-world examples and case studies, Transactional to Transformational Marketing presents a step-by-step approach to help pharma companies transform their marketing practices. From understanding the importance of customer-centricity to leveraging digital technologies, this book provides practical tips and strategies that can be implemented immediately. Transactional to Transformational Marketing in Pharma is a must-read for anyone interested in elevating the pharmaceutical industry's reputation and creating sustainable growth in the long term. If you are a marketer, business leader, or anyone interested in transforming the pharmaceutical industry's marketing practices, this book is for you.Contents: 1. Pharma’s Reputation on a Slide 2. Ethics in the Pharmaceutical Industry 3. Unethical Marketing Practices in Pharma 4. Transactional Marketing 5. Restoring Pharma’s Reputation 6. Transformational Marketing in Pharma 7. Transformational Marketing in Pharma: Two Case Studies 8. Transformational Marketing the Winner’s Checklist Two Case Studies
| Author | : Roy Levy |
| Publisher | : DIANE Publishing |
| Total Pages | : 226 |
| Release | : 1999 |
| Genre | : Antitrust law |
| ISBN | : 1428953639 |
| Author | : Faraat Ali |
| Publisher | : CRC Press |
| Total Pages | : 373 |
| Release | : 2024-07-05 |
| Genre | : Medical |
| ISBN | : 1040044824 |
Medicine regulation demands the application of sound medical, scientific, and technical knowledge and skills, and operates within a legal framework. Regulatory functions involve interactions with various stakeholders (e.g., manufacturers, traders, consumers, health professionals, researchers, and governments) whose economic, social, and political motives may differ, making implementation of regulation both politically and technically challenging. This book discusses regulatory landscape globally and the current global regulatory scenario of medicinal products and food products comprehensively. Features: Discusses how recent developments of medicinal and food products have opened up innovative solutions for many of the current challenges societies face presently. Explores the manifold variations between the regulatory bodies in different countries that have not previously been collected to this extent. Presents details on the substantial progress in analytical methodologies for labelling applications and the creation of appropriate test criteria for pharmaceuticals and their safety analysis. Reviews how more worldwide collaboration and cooperation in the regulatory area is still required.
| Author | : Stuart St. P. Slatter |
| Publisher | : Taylor & Francis |
| Total Pages | : 150 |
| Release | : 1977 |
| Genre | : Aptekersbedryf |
| ISBN | : 9780856643965 |
