Pharmaceutical Marketing : Principles, Environment, and Practice book cover
1st Edition

Pharmaceutical Marketing
Principles, Environment, and Practice

ISBN 9780789015839
Published March 1, 2002 by CRC Press
392 Pages

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Book Description

Explore the nuts and bolts of marketing pharmaceuticals today!

Written by leading authorities in the field, Pharmaceutical Marketing: Principles, Environment, and Practice is the fifth in Dr. Mickey Smith's series of books on the subject which began in the 1960s. In this extraordinary book, he and his co-authors examine the principles of marketing pharmaceuticals, describe the environmental factors that affect their application, and show how these principles can be applied in response to those factors in practice.

From the history and development of marketing pharmaceuticals to channel systems, legal requirements, budgeting, and product placement, this essential volume is a comprehensive text that will help students prepare for successful careers in this expanding field.

From editor Mickey Smith: “Looking back on 40 years of experience, I’ve recently begun saying that most of the things I knew about pharmaceutical marketing over the years that made me so smart are not true anymore. But the fact is that the principles of marketing are as true as they were when they appeared in my first book (published in 1968). What has changed, and had to change, was the way the principles are applied.

“This book is based on the premise that marketing follows certain principles and that pharmaceutical marketing is affected by a variety of environmental influences which lead to a rich array of marketing practices. These practices are presented to demonstrate how the successful application of marketing principles—with appropriate adaptation to environmental forces—can lead to success in the marketplace. Failures are also presented.”

This well-referenced book explores and explains the principles and practical application of vital elements of pharmaceutical marketing, including:

  • product pricing—with sections on trends, competition, reimbursement programs, public policy, and more
  • research and development—including strategies relating to new products, product scope, positioning and repositioning, product elimination, diversification, and a fascinating case study about Ibuprofen
  • promotion—rational and nonrational appeals, advertising prescription drugs to consumers, strategic choices among media types, budgeting, and more
  • place factors, channel systems, physical distribution, and specialists
  • and much more!
Ideal for anyone entering or studying the pharmaceutical industry, Pharmaceutical Marketing: Principles, Environment, and Practice is a one-stop source of reliable knowledge that you’ll refer to again and again! In the editor's words, “Good marketing leads to good medicine. Exceptions exist, but when the system works, bad marketing never succeeds for long—and neither does bad medicine.”

Table of Contents

  • Preface
  • Section I: Introduction
  • Chapter 1. General Principles
  • The Evolution of Marketing
  • The Development of Pharmaceutical Marketing
  • The Social Functions of Marketing
  • The Right Product
  • The Right Quantity
  • The Right Place
  • The Right Price
  • The Right Time
  • Spreading the Word
  • Marketing Management
  • The Social Position of Pharmaceutical Marketing
  • Chapter 2. General Environment
  • Introduction
  • Patients and Customers: The Inner Circles
  • The Outer Ring: The Aggregate Environment
  • The Middle Ring
  • Conclusion
  • Chapter 3. General Practices
  • Introduction
  • Who Are We? Who Are Those Other People? What Can We Do About Them?
  • What Business Are We In? How Does This Guide Us?
  • Internal Review—Another Look at the Corporate Navel
  • Section II: Product
  • Chapter 4. Principles of Product Research and Development
  • Product Scope Strategy
  • New Product Strategy
  • Product Positioning Strategy
  • Product Repositioning Strategy
  • Product Elimination Strategy
  • Diversification Strategy
  • Ibuprofen—From Drug to Drug Products: A Case
  • Chapter 5. Responsiveness of the Pharmaceutical Industry to Its External Environment
  • High-Value Molecule Selection
  • Clinical (Drug) Development and Launch Project Management Skills
  • R & D Life Cycle Management Postapproval
  • Mergers
  • Conclusion
  • Chapter 6. Product Research and Development Practices
  • Orphan Drug Act
  • Expedited Drug Approval
  • Prescription Drug User Fee Act of 1992 (PDUFA)
  • FDA Modernization Act of 1997 (FDAMA)
  • Conclusion
  • Section III: Price
  • Chapter 7. Pharmaceutical Pricing Principles
  • Essential Factors in the Pricing Decision
  • Competition
  • Patient Characteristics
  • Value of Therapy
  • The Decision-Making Process
  • Disease Characteristics
  • The Reimbursement Environment
  • Company Needs
  • Company Abilities
  • Public Policy Considerations
  • Summary
  • Chapter 8. The Pharmaceutical Pricing Environment
  • New Product Pricing
  • Pharmaceutical Pricing and Public Policy
  • Pricing on Purpose
  • Chapter 9. Pharmaceutical Pricing in Practice
  • New Product Pricing Trends
  • The Need to Price on Purpose
  • Chapter 10. Principles of Place, Channel Systems, and Specialists
  • Introduction
  • Challenges of Managing Place
  • Channel Systems
  • Crucial Place Factors
  • Channel Specialists
  • Channel Relationships and Conflict
  • Channel Access
  • Physical Distribution
  • Chapter 11. Place Factors in the U.S. Drug Market: The Environment
  • Drug and Related Health Care Products
  • Use of Prescription Medications
  • Drug Product Imperatives
  • Physical and Fiscal Product Characteristics
  • Legal and Regulatory Requirements
  • Chapter 12. Place Applications in the U.S. Drug Market
  • Drug Supplies—Producers, Labelers, and Repackagers
  • Wholesale Distributors
  • Chain Warehouses
  • Pharmacies—The Patient-Pharmacist Interface
  • Return Specialists—Reverse Distributors, Reclamation Specialists, and Disposers
  • Clinics, Surgery Centers, Dialysis Centers, Laboratories, and Planned Parenthood
  • Pharmaceutical Sampling
  • Institutional (Hospital) Marketing
  • Wholesale Distribution
  • Section V: Promotion
  • Chapter 13. Principles
  • Introduction
  • Rational Appeals
  • Nonrational Appeals
  • To Whom Should Products Be Promoted?
  • A Special Case: Prescription Drug Advertising to Consumers
  • Where to Promote: Strategic Choices Among Media
  • Media Types
  • Media Selection Procedure
  • Deciding How Much to Spend
  • Conclusion
  • Chapter 14. Environments
  • Legal/Regulatory
  • Ethical/Cultural
  • Technical
  • Economic
  • Social
  • Competitive
  • Internal
  • Individual Patients/Consumers
  • The Human Medical Condition
  • Conclusion
  • Chapter 15. Practices
  • A Bit of History
  • Targets of Promotion
  • Messages
  • Life Cycle Considerations
  • Product Considerations
  • Blending the Promotional Mix
  • Budgets
  • Conclusion
  • Section VI: Conclusion
  • Chapter 16. Prospects: Linking Therapy to Patient Needs
  • Public Perceptions of Pharmaceutical Marketing
  • What Pharmaceutical Marketing Is and Does
  • What Drives Product Development?
  • Marketing Exerts Downward Pressure on the Price of Medicines
  • Cost Savings Through Efficient Distribution: A Key Element of Marketing
  • Communicating with Physicians: Linking Products to Patient Needs
  • Cost Savings Through Marketing Directly to Patients
  • Pharmaceutical Marketing Stimulates Demand: Good for the Health Care System
  • Appendix: Resources
  • Books
  • Periodicals
  • Notes
  • Index
  • Reference Notes Included

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