A Bookmark (and Conclusion) to Marketing in Big Pharma

I finished my report! This report took a lot longer than expected because of technical difficulties with RefWorks, but it’s done, and my concluding thoughts are included throughout this post! My research report was organized into eight sections sandwiched between my introduction and conclusion. Included are sections relating to the history of pharmaceutical marketing and corresponding legislation, effective marketing techniques, target audiences, and how pharmaceutical marketing tactics affect the consumer and doctor. Additionally, I analyzed both benefits and detriments of pharmaceutical marketing. I ultimately concluded that the current pharmaceutical business model is not sustainable, and the unethical marketing techniques that are commonly used are hurting the industry by turning away doctors and potential customers from treatment options. The industry as a whole must focus more on the consumer, allowing for flexible pricing schemes and providing personalized care. In addition, more money must be invested into research and development, with a focus on collaboration, to ensure generations of pharmaceutical success and a loyal customer base.

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Update #2: Big Pharma’s Business Model and its Future

How time flies! My second week of research is down in the books, and I’m officially moving onto the third and final. That being said, here are some of the things I investigated during Week 2.

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Update #1: An Idea of Scale– Big Pharma in America

I am a little over a third done my research this summer and need to provide a much-needed update! So far, I have looked at roughly 55 sources in forms of documentaries, YouTube videos, newspaper and magazine articles, government reports, and research studies. Because of this extensive research so far, I plan to devote a lot of my remaining time to sorting through this and making it more understandable.

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Marketing in Big Pharma: An Analysis of Strategies, Implications, and Disaster

Whether it’s commercials on television or pop-up ads on social media, pharmaceutical companies have been marketing directly to the consumer for decades. This phenomenon is one feature of the United States that differs from most other developed countries, allowing for an opportunity to discuss and evaluate the evolution of domestic pharmaceutical marketing practices. This summer, I hope to understand this phenomenon, uncover which marketing techniques are most effective for specific audiences, and evaluate how they affect the consumer, the producer, the doctors, and the costs of the medication. Additionally, I hope to discover which drugs are most heavily marketed, which illnesses they tend to target, and if national treatment is ultimately more successful because of these efforts. Why are these specific drugs marketed in these specific ways, and what makes these drugs unique? Furthermore, I will evaluate the relationship between business and medicine, lending a critical eye to expose when business goes wrong and customers are taken advantage of. Especially in the world of medicine, affordable healthcare products are the difference between life and death. Mylan CEO, Heather Bresch, and former Turing Pharmaceuticals CEO, Martin Shkreli, have both been under fire in the past two decades for extraordinary price hikes of vital products merely to increase profit potential. I plan to research the EpiPen, Daraphim, and Insulin cases and understand the resulting laws and regulations that arose from these national scandals. This summer, I will examine the role of Big Pharma in America, explore the marketing techniques used in the pharmaceutical industry, and ultimately, discover their implications.

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