BUS FPX 4124 Assessment 5 Marketing of a Health Care Product

BUS FPX 4124 Assessment 5 Marketing of a Health Care Product

Student Name

Capella University

BUS-FPX4124 Health Care Marketing and Strategic Planning

Prof. Name:

Date

Introduction

Marketing within the pharmaceutical industry often sparks significant debate, particularly concerning direct-to-consumer (DTC) advertising. This type of marketing leverages various platforms, including television commercials, magazines, social media, and brochures, to reach potential consumers. According to the FDA (2015), DTC advertisements evoke mixed reactions among physicians, influencing their medical practices and interactions with patients. While some medical professionals assert that these ads educate consumers and foster active participation in healthcare decision-making, others argue that such advertising leads consumers to mistakenly believe they have the diseases being promoted and fail to fully understand the associated risks of the drugs.

Strategies

Pharmaceutical marketing strategies have undergone significant transformation over the past fifty years. Initially, the focus was primarily on physicians, the key prescribers of medication. However, since the 1990s, the approach shifted towards targeting consumers directly. This shift aimed to increase consumer awareness of healthcare products and encourage informed decision-making. Although this change has garnered both praise and criticism, it has undeniably heightened public awareness about diseases and prescription drugs. Critics, however, argue that DTC advertising often promotes unnecessary drug consumption, prioritizing pharmaceutical companies’ profits over public health (Mulinari, 2016).

Government Regulations

Government regulations are vital in ensuring that pharmaceutical marketing provides accurate and balanced information to consumers. Pharmaceutical companies are obligated to disclose all drug-related side effects and benefits to maintain transparency. However, debates persist about the extent of regulatory control. While proponents of stricter regulations argue they are necessary to safeguard consumers, opponents contend that such measures could stifle innovation and limit the availability of essential drugs (Sood et al., 2009).

Summary and Conclusion

The ongoing debates about pharmaceutical marketing strategies and government regulations highlight the complex relationship between corporate objectives and consumer welfare. Although DTC advertising has significantly boosted prescription drug sales, concerns about its potential negative consequences on public health remain prevalent. Policymakers and industry stakeholders must work collaboratively to balance effective marketing practices with robust consumer protection.

Table Representation

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