Preview

pharmaceutical marketing

Good Essays
Open Document
Open Document
523 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
pharmaceutical marketing
Business 104 Pharmaceutical Industry’s Marketing Practices (Against)

Marketing is the process by which companies determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. Research and advertising Is a big part of marketing. Marketing involve doing lots of research and is the process by which companies determine what products or service the public wants or needs in order to target the market.
Pharmaceutical industry develops, produces, and markets drugs licensed for use as medications. Pharmaceutical companies are allowed to deal in generic and/or brand medications and medical devices. They are subject to a variety of laws and regulations regarding the patenting, testing and ensuring safety and efficacy and marketing of drugs. “Pharmacies could be found all the way back until to the Middle Ages (probably to Baghdad during the Islamic Golden Age around the year 750), it wasn't until the beginning of the 20th century and the important discoveries of insulin and penicillin in the 1920s and 1930s that the development of the modern pharmaceutical industry really began.”stated in a artical By Drew Lichtenstein.
Pharmaceutical marketing is the business of advertising or otherwise promoting the sale of pharmaceuticals or drugs. Pharmaceutical marketing began around the late 20s to early 30s. Marketers have advertised pharmaceuticals for many years. Marketers target consumers as well as hospitals, professionals and medical students using a combination of advertisements and information. The marketing practices followed pharmaceutical companies attempt to sway consumers as well as healthcare providers to use their products. From misleading direct to consumer advertising to gift giving, Marketing representatives from pharmaceutical companies solicit medical providers in many ways to entice them into using their products. Advertising plays a big role in

You May Also Find These Documents Helpful

  • Good Essays

    PharmaCARE is a successful pharmaceutical company that prides itself on being a reputable, caring and ethical company that enhances the quality of life for millions of people. However, if we take a close a look of Pharmacare way of doing business, we will understand that the company actually only cares about its profit margin. Many of the social problems in Colberia are caused by PharmaCare.…

    • 629 Words
    • 3 Pages
    Good Essays
  • Better Essays

    P1 Intro to Marketing

    • 1121 Words
    • 5 Pages

    Marketing is the act of publicising products and offers to customers to get them to want to buy it; this could be via the television, a poster or radio. Marketing always has the customer at the centre of its activities and wants to build customer relationships in order to keep them coming back. Another definition of marketing is the actual action of selling an item or service to customers, like in a retail shop for example.…

    • 1121 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    The pharmaceutical industry includes companies that research, develop, market or distribute generic and branded drugs. The industry expanded during the 1980’s and drugs to treat heart disease and AIDS were prominent. Consumer demand for nutritional supplements and alternative medicine increased during the 1990’s with the Internet facilitating direct purchases of drugs. Advertising for direct consumption of pharmaceutical drugs became more prominent; pharmaceutical companies were criticized for over medicating personality or social problems.…

    • 3675 Words
    • 15 Pages
    Powerful Essays
  • Better Essays

    In my own words marketing is doing what is possible to satisfy a customer by delivering a product that will keep them coming back for more. Marketing not only deals with the selling and advertising but also with satisfying customers need. Successful companies take into account the needs of the customers by not focusing solely on selling the product. When companies do this they are gaining loyal customers because they see that their needs are being tended too. Marketing is a process where companies create value for customers and build on that value which strengthens the relationship between the company and customers; this allows customers to see the value in the product offered.…

    • 1178 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    Unit 3 P1

    • 1803 Words
    • 8 Pages

    Marketing is the process of communicating the value of a product or service to customers for the purpose of sales. It is a critical business function for attracting customers. Marketing activities and strategies result in making products available that satisfy customers whilst making profit.…

    • 1803 Words
    • 8 Pages
    Powerful Essays
  • Best Essays

    The pharmaceutical company is made up of a number of different functions and departments. Each of these functions is given a responsibility in one area of the company’s activity. These departments are closely related and the success of the company is based on the ability of these functions to work together. The pharmaceutical companies rely on research and development to find new and innovation new drugs. In order for a drug to enter the market it must undergo a series of tests and clinical trials. There are phases the drug must go through and complete in order to meet the requirements of the FDA. The development of a drug is an ongoing journey, and it can take up to 12 years to develop a drug (Pharmaceutical Patents 2006). The pharmaceutical company uses…

    • 4398 Words
    • 18 Pages
    Best Essays
  • Powerful Essays

    Pharmasim

    • 1205 Words
    • 5 Pages

    In our experience with Pharmasim we learned that Marketing decision making must be very sensitive and responsive to everything going on in the industry which is very complex. Consumer responses to marketing tactics can be volatile and unpredictable and no idea is guaranteed to work well. Marketing is a matter of meticulous research, assumptions, planning, and volatility at times. Overall we took away two major points: 1) that it is important to consider the product lifecycle in evaluating how to promote businesses and, 2) that the “Sweet Spot” as a competitive advantage should be the greatest point of consideration when evaluating how to best gain leverage to beat the competition in the minds of consumers.…

    • 1205 Words
    • 5 Pages
    Powerful Essays
  • Better Essays

    Marketing can come in many terms depending on which product is marketed. It is my assertion that marketing is basically an activity used to sell a product which requires sells techniques, business communication, and business development. The marketing process includes strong customer relationships and a commitment to the business customers. Businesses both large, and small desire to retain their customers; therefore, to make customers happy businesses will make customers the focal point of the product. During the entire marketing process, the organization will concentrate on building, and maintaining good customer relationships.…

    • 1051 Words
    • 5 Pages
    Better Essays
  • Good Essays

    provider. The Lancet, 360(9345), 1590-5. Retrieved October 27, 2009, from Research Library. (Document ID: 244175561). http://proquest.umi.com.ezproxy2.apus.edu/pqdweb?index=8&did=244175561&SrchMode=1&sid=4&Fmt=4&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1256670723&clientId=62546…

    • 743 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Big Pharma

    • 2595 Words
    • 11 Pages

    The key ethical issues of argument related to Big Pharma are the questionable marketing practices exercised by the pharmaceutical industry, product safety, science for sale and lobbying efforts. These critical issues have been emotive and multi-dimensional.…

    • 2595 Words
    • 11 Pages
    Powerful Essays
  • Better Essays

    Overmedicating America

    • 820 Words
    • 2 Pages

    Invention of Diseases- According to Big Pharma's critics, another reason medication use has increased is that pharmaceutical companies have literally invented new diseases for their pills to treat. An example of such a practice is the drug Detrol for "overactive bladder," a condition that did not exist until the drug maker coined the term and then spent millions teaching doctors how to recognize it. Detrol has since turned into a blockbuster drug, with…

    • 820 Words
    • 2 Pages
    Better Essays
  • Good Essays

    Every year, drug companies spend 100s of millions of dollars on advertising alone, often exceeding expenditures on research and development (Wilkes et al, 2000). Compared to other industries, it is significantly reliant on promotional expenditures, often amounting to 20-30% of sales. Traditionally, promotional efforts for prescription medication were targeted exclusively to physicians, but the industry’s approach evolved over time, pushing towards advertising prescription medication directly to patients through television, magazines, internet, etc. This marketing strategy, known as direct to consumer advertising (DTCA) is regulated differently across the globe depending on the federal legislation in different countries.…

    • 1251 Words
    • 6 Pages
    Good Essays
  • Powerful Essays

    Pharmaceutical Advertising

    • 2279 Words
    • 10 Pages

    Living in a culture that is so heavily influenced by media and advertising, it is almost impossible to open a magazine, watch television, or even walk down the street without seeing an advertisement for prescription drugs. Since its start in the early 19th century, the pharmaceutical industry has expanded to become one of the fastest growing, most influential and successful industries today. Over the years, many factors such as innovative technologies, new regulations, and company mergers and takeovers, have contributed to the rapid growth of this industry. However, on top of these factors lies the most powerful and persuasive reason why our society has become a drug-obsessive, pill-popping culture: the excessive, overwhelming marketing of prescription drugs to the public. From producing countless misleading prescription drug commercials to forming alliances with doctors by giving them free gifts, pharmaceutical companies have deceitfully found many ways to reach the public and increase their profits.…

    • 2279 Words
    • 10 Pages
    Powerful Essays
  • Good Essays

    Conventional Therapy Cons

    • 793 Words
    • 4 Pages

    Don't be shocked about this because the driving force behind the ongoing growth of conventional medicine has been the pharmaceutical industry, embraced by both doctors and pharmacists, who calculate their worth through treating problems by prescribing medications.…

    • 793 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Pharmaceutical industry is the one of big revenue business in the world. There are lots of company gains a lot of profit and market share in this industry. Most of those companies were established in 19 century and early 20 century. This study explains their model development process of pharmaceutical industry, it details some issue like Thalidomide tragedy in 1970’s and legislation, then decreases the risk of side effect and protects the patient. The pharmaceutical industry pressured by economics and some new regulation from government for safety in 80’s.…

    • 964 Words
    • 4 Pages
    Better Essays