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Impact of Different Marketing Strategies On Sales of Medicine
Impact of Different Marketing Strategies On Sales of Medicine
Literature Review
Previous studies have investigated the effectiveness of different marketing strategies employed in the
pharmaceutical industry. For instance, a study conducted by Saldana (2020) on the impact of
pharmaceutical sales promotion on brand loyalty found that sales promotion had a positive effect on the
loyalty of consumers toward the brand. The study concluded that promotional strategies such as price
discounts, promotional activities, and contests, among others, increased the loyalty of consumers
toward the brand. Similarly, Johnson and Smith (2019) studied the impact of online marketing on the
sales of pharmaceutical products. Their findings indicated that online marketing strategies, such as
search engine optimization, email marketing, and social media marketing, have a positive effect on the
sales of pharmaceutical products. They concluded that online marketing strategies are an effective way
to increase sales of pharmaceutical products.
Methodology
This study will use a quantitative research approach. Data will be gathered through surveys and
interviews with pharmaceutical companies and their customers. The surveys will focus on the marketing
strategies used by the companies, the effectiveness of these strategies, and the impact they have on the
sales of medicines. The interviews will be conducted with customers to gain insights into how the
strategies influence their purchasing decisions.
Hypothesis
It is hypothesized that different marketing strategies employed by pharmaceutical companies will have a
positive effect on the sales of medicines.
Hypothesis
We addressed some questions that marketing managers of the drug companies are interested in. To
answers those questions, this study formulated hypothesis as follows;
H3: Younger physicians are less likely to prescribe from new product categories.
H5: From “one measure for all” to personalization by marketing intelligence leads to positive impact on
sales
Objective
The objective of this research is to investigate the impact of different marketing strategies on the sales
of medicine and to determine whether these strategies are effective in increasing sales.