Factors Influencing Prescription Behavior of Physicians
The Pharma Innovation Journal, ISSN:2277-7695 (2014) 3(5): 30-35
6 Pages Posted: 8 Jul 2014
Date Written: July 6, 2014
The Competition is increasing day by day in Business arena and one who reacted timely against these frequent changes can survive in the competition, same in the field of pharmaceutical marketing, every day different companies bringing different brands with continuously increasing the size of market. In this competition medical practitioner and physicians are the key customers for this industry. Physicians are actually the ultimate decision holder of which brand should be prescribed to their patients. Therefore, all the marketing strategies are being focused towards them. Marketing strategies are revolving around product, price and promotions and Companies are making marketing tools to draw the attention of physicians for prescribing the brands. In this study, the researcher examines the factors, which are influencing the prescription behavior of physicians. In this regard, Regression analysis has been used to conclude the results of the undertaken study. The research is based on panel data. There are certain factors, which influence the prescription behavior of physicians such as New Drug in market, Brand Prescription, Sponsorship to Conferences, promotional tools and drug samples. Influence is heavily depends on how the sales person promote their brands. The main conclusion of this study is that there are two factors which impact a lot than any other factor i.e. one is New Drug in market and the promotional tools.
Keywords: New Drug, Brand Prescription, Sponsorship to Conferences, promotional tools, drug samples and Physician prescription behavior.
JEL Classification: C12, C42, I10
Suggested Citation: Suggested Citation