BUS FPX 4124 Assessment 5 Marketing of a Health Care Product
Phillip March 12, 2024 No Comments

BUS FPX 4124 Assessment 5 Marketing of a Health Care Product

BUS FPX 4124 Assessment 5 Marketing of a Health Care Product

Name

Capella university

BUS-FPX4124 Health Care Marketing and Strategic Planning

Prof. Name

Date

Introduction

Marketing within the pharmaceutical industry is a contentious issue, particularly concerning direct-to-consumer advertising and its associated advantages and disadvantages. This form of marketing employs various channels such as television commercials, magazines, social media platforms, and brochures. According to the FDA (2015), physicians perceive direct-to-consumer (DTC) ads both positively and negatively, with these ads influencing medical practices and patient interactions. While some physicians argue that DTC advertising educates consumers and encourages involvement in healthcare decisions, others contend that it leads consumers to believe they are afflicted with advertised diseases and inadequately comprehend associated drug risks.

Strategies

Over the past five decades, pharmaceutical marketing strategies have evolved significantly. Initially targeting physicians as the sole prescribers, marketing strategies shifted towards consumer-directed approaches since 1990. This change aimed to educate consumers about products and involve them in healthcare decisions. Despite generating both positive and negative feedback, DTC marketing has increased consumer awareness of diseases and prescription drugs, although critics argue that it promotes unnecessary drug consumption, primarily benefiting pharmaceutical profits (Mulinari, 2016).

BUS FPX 4124 Assessment 5 Marketing of a Health Care Product

Government Regulations

Government regulations play a crucial role in pharmaceutical marketing to ensure accurate information dissemination. Companies must provide truthful information, including all drug-related side effects, to consumers. However, debates persist regarding the extent of government control, with some advocating for stricter regulations to protect consumers, while others fear such regulations could hinder innovation and drug availability (Sood et al., 2009).

Summary and Conclusion

The ongoing debates surrounding pharmaceutical marketing and government regulations underscore the complex interplay between business interests and consumer welfare. While direct-to-consumer advertising has boosted prescription drug sales significantly, concerns persist regarding its potential adverse effects on consumers. Striking a balance between marketing efficacy and consumer protection remains a challenge for policymakers and stakeholders in the pharmaceutical industry.

References

Donohue, J. (2006). A History of Drug Advertising: The Evolving Roles of Consumers and Consumer Protection. The Milbank Quarterly, 84(4), 659–699. http://doi.org/10.1111/j.1468-0009.2006.00464.x.

FDA. (2015). The Impact of Direct-to-Consumer Advertising. Retrieved from https://www.fda.gov/Drugs/ResourcesForYou/Consumers/ucm143562.htm.

Mulinari, S. (2016). Regulating Pharmaceutical Industry Marketing: Development, Enforcement, and Outcome of Marketing Rules. Sociology Compass, 10, 74–86. doi: 10.1111/soc4.12335.

Sood, N., De Vries, H., Gutierrez, I., Lakdawalla, D., & Goldman, D. (2009). The effect of regulation on pharmaceutical revenues: experience in nineteen countries. Health Affairs (Project Hope), 28(1), 10.1377/hlthaff.28.1.w125. http://doi.org/10.1377/hlthaff.28.1.w125.

BUS FPX 4124 Assessment 5 Marketing of a Health Care Product