Our fall newsletter (something to look forward to!) will focus on marketing and research within global audiences. If you find pharmaceutical marketing tactics of interest, you should consider contacting Michelle Steward, assistant professor of marketing at Wake Forest University.
Her study, entitled, "The Influence of Different Types of Cues-to-Action on Vaccination Behavior: An Exploratory Study," will be featured in the Spring Edition of Journal of Marketing Theory and Practice.
The study considered the effects of educational surveys, consumer advertisements and governmental mandates on the HPV vaccination habits of women ages 18 through 30. It concluded they were more likely to consider being vaccinated after participating in the survey versus viewing consumer ads or receiving government mandates.
"The educational cues in the survey are the least coercive and appear to prompt more thinking about the risks of not being vaccinated than laws, which may produce a negative backlash or advertisements, of which consumers might be skeptical," said Steward.
Merck should take her survey to heart considering its sales of Gardasil for the second quarter of 2009 were $268 million, a decline of 28 percent from the same quarter last year. It is estimated 3 out of 4 women remain unvaccinated despite the millions of dollars Merck has spent on advertising and lobbying for mandated vaccinations.
Combine this theory with the current Health 2.0 trend where e-patients are educating themselves about their health online and targeted internet marketing campaigns should reap the reward of increased vaccination rates.
By Sherry Dineen
Source: “HPV Vaccine Study Show Why Few Women Getting Shots” by Medical News Today (www.medicalnewstoday.com)
Thursday, September 17, 2009
Tuesday, September 1, 2009
Turning Social Responsibility into Commercial Opportunity
For the first time in over fifty years, the U.S. pharmaceutical market is not forecasted to see better results than last year. As a result, disappointed drug manufacturers are making major changes in how they view their role in the world – from pharmaceutical companies to healthcare companies.
With this shift in perspective comes a broader sense of responsibility to patients in developing countries. In the past, most manufacturers’ involvement limited their involvement to simply making their products available to people in poorer nations. A change of heart, though, is moving companies toward partnerships and collaboration with governments, NGOs and other private sector organizations to develop long-term sustainable solutions for improved healthcare access and overall wellbeing in underserved patient populations.
In order to offset the loss of profit from the decline in the US market, however, pharmaceutical companies must realize increases in these challenging new foreign markets. But developing countries with poor populations have dynamics that can further complicate marketing and sales strategies beyond standard demographics and ROI. Following are some key issues that should be considered:
Literacy
Poorer countries tend to have lower literacy rates that can impede a patient's understanding of their condition and potential treatment options. It may also mask unethical behavior by providers or pharmacists. Low literacy patients require greater efforts of advocacy and additional support systems.
Language & Cultural Barriers
In many cultures, and more often in developing nations, physicians play a principle role in managing healthcare decisions and treatment choice. Questioning your doctor, or acting as a partner in your own care, is very often unheard of for patients in some cultures. Without culturally-appropriate translation of prescription and disease information, patients will be increasingly dependent on the information provided to them by their physician.
Cost
Drug makers have long been aware that in many countries, cost has a direct impact on a patient’s choice of treatment. Costs must be kept low to ensure compliance with physician treatment prescriptions. Due to the large number of new potential patients in developing countries, manufacturers may see the potential volume increase as an offset to the creation of special pricing structures that benefit the poor.
With this shift in perspective comes a broader sense of responsibility to patients in developing countries. In the past, most manufacturers’ involvement limited their involvement to simply making their products available to people in poorer nations. A change of heart, though, is moving companies toward partnerships and collaboration with governments, NGOs and other private sector organizations to develop long-term sustainable solutions for improved healthcare access and overall wellbeing in underserved patient populations.
In order to offset the loss of profit from the decline in the US market, however, pharmaceutical companies must realize increases in these challenging new foreign markets. But developing countries with poor populations have dynamics that can further complicate marketing and sales strategies beyond standard demographics and ROI. Following are some key issues that should be considered:
Literacy
Poorer countries tend to have lower literacy rates that can impede a patient's understanding of their condition and potential treatment options. It may also mask unethical behavior by providers or pharmacists. Low literacy patients require greater efforts of advocacy and additional support systems.
Language & Cultural Barriers
In many cultures, and more often in developing nations, physicians play a principle role in managing healthcare decisions and treatment choice. Questioning your doctor, or acting as a partner in your own care, is very often unheard of for patients in some cultures. Without culturally-appropriate translation of prescription and disease information, patients will be increasingly dependent on the information provided to them by their physician.
Cost
Drug makers have long been aware that in many countries, cost has a direct impact on a patient’s choice of treatment. Costs must be kept low to ensure compliance with physician treatment prescriptions. Due to the large number of new potential patients in developing countries, manufacturers may see the potential volume increase as an offset to the creation of special pricing structures that benefit the poor.
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