The basis of the marketing combination — in fact, the most important element in it — is the drug itself. All drugs on the market are indicated by the FDA for a specific condition or disease, and pharmaceutical companies can only market one product for approved indications. Because of the enormous cost and time required to bring a drug to market, companies must maximize product lifecycle management. The price is uniquely set in the pharmaceutical industry.
In most other categories, the producer or manufacturer controls the price, subject to normal market restrictions. This is not the case in the pharmaceutical industry, where companies have limited time to recover development costs and, in most cases, the end user is not the final payer. Pharmaceuticals are also limited by managed care organizations and generic pressure. In this study, the perceived influence of mixed pharmaceutical marketing strategies on the prescribing behavior of physicians in the city of Dessie was 55.9%.
A pharmaceutical company's place-of-use strategy to expand its market share by persuading doctors to prescribe its products. This prevents measuring the association of individual pharmaceutical marketing mix strategies with the behavioral influence of prescribing physicians. The concept of marketing mix was introduced by Neil Borden in 1964 in his article entitled The Concept of Marketing Mix. Pharmaceutical marketing is primarily directed to patients through direct-to-consumer advertising and healthcare professionals who prescribe medications.
Pharmaceutical manufacturers try to influence physicians through a variety of strategies to increase their market share by inducing more prescriptions. Most pharmaceutical companies spend a great deal of time and money in the market in hopes of convincing doctors about their products. There was a statistically significant difference between the marketing combination strategies employed by pharmaceutical companies to influence physicians' prescribing behavior (β %3D 0.08, p %3D). More than half of physicians perceived that combined pharmaceutical marketing strategies influence their prescribing behavior.
Marketing pharmaceuticals can be quite complex for companies that are not well versed in strict industry rules and regulations. The digital age has transformed the pharmaceutical industry from research and development tactics to sales and marketing strategies. Currently, pharmaceutical companies are bringing their specific drugs to the market for specific uses by modifying drug preparation. The objective of this study is to evaluate the perceived influence of mixed pharmaceutical marketing strategies on prescribing behaviors of physicians in hospitals in Dessie, Ethiopia.
What may be surprising is the amount pharmaceutical companies spend on marketing compared to the sums invested in drug research and development. The data met the normal distribution assumption, the mean score was appropriate to classify the influence of mixed pharmaceutical marketing strategies on the prescribing behavior of physicians. The qualitative part of the current study indicated that physicians working in public and private hospitals perceive the influence of pharmaceutical marketing mixing strategies on their prescribing behavior.