Analyzing the Effectiveness of Pharmaceutical Marketing Using Business Intelligence Methods

Analyzing the Effectiveness of Pharmaceutical Marketing Using Business Intelligence Methods

Elizabeth H. Ricks (SDI Health, USA) and John Yi (Saint Joseph’s University, USA)
Copyright: © 2012 |Pages: 15
DOI: 10.4018/jbir.2012070101
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Abstract

Pharmaceutical companies have traditionally marketed their products through a combination of several channels: sales details to physicians, direct-to-consumer advertising, professional medical journal advertising, sponsorship of meetings and events and e-promotion. With an impending patent cliff and subsequent loss in revenue, the industry must depend on, among many factors, recently launched products to offset the revenue loss. Coupled with increased generic competition, companies must evaluate the return on investment of their marketing dollars. This paper analyzes the effectiveness of traditional marketing methods, both industry-wide and for recently launched products, using the latest Business Intelligent methods. The dataset used in this paper is a sample of prescription, promotional, competitive, and product data from SDI Health. The analysis in this paper reveals that traditional marketing methods have a decreasing level of impact with the number of prescriptions dispensed, and describes new potential channels for marketing, as well as collecting and analyzing data to aid the industry improve its resource utilization.
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History Of Development And Marketing In The Pharmaceutical Industry

Today’s drug development model had its origins in the mid 20th century, after the discovery of life-saving medicines like penicillin and insulin. The onset of World War II encouraged U.S. and European pharmaceutical companies to invest their research and development dollars in drug categories such as analgesics and antibiotics. Pharmaceutical manufacturers at this time had full support of the government, who even sponsored many R&D efforts and provided funding for mass production of these new therapies (Walsh, 2010).

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