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Pharmaceutical

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The pharmaceutical industry has had to adjust their marketing strategy due to the 1984 Food and Drug Administration (FDA) legislation regarding drug patent protection. Traditional market strategy has also been affected by the changing face of the consumer. Drug companies have begun advertising to consumers. In the past, marketing strategy centered on marketing to doctors. The doctors were provided samples which they made available to patients. The nonmarket environment has affected the efficiency of the pharmaceutical industry. Consumers are more knowledgeable and they have more access to means of communication than they have in the past. Pharmaceutical companies are marketing their products to a consumer group that is more aware of ailments and the benefits of pharmaceutical treatment. Pharmaceutical industries traditional marketing plan includes providing samples of medicines to doctors. The industry also provides auxiliary office items (such as pen and personalized stationary) to medical professionals. The successful national and international sale of these samples funds the development of new pharmaceutical products. It is a cycle that must be completed due to the nature of selling doctor prescribed pharmaceutical products. Because of stringent oversight of the Food and Drug Administration, the pharmaceutical industry spends millions of dollars on research. Tang (2013) notes, on average developing a new drug has become increasingly expensive, time consuming and risky (p.1). Each products chemical composition must be exhaustingly researched; therefore, pharmaceutical companies must have a successful products to fund research. In the traditional marketing approach, pharmaceutical representatives have the onus to supply medical professionals with their company’s most profitable product. In the current nonmarket environment, the pharmaceutical industry must

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