The Promotional Strategies of a Pharmaceutical Company in the Province of Bulacan

Abstract

This study assesses the effectiveness of the promotional strategies of a pharmaceutical company in the province of Bulacan, in which the descriptive method of research was used. A researcher-made questionnaire was designed in order gather data. The most needed data of the 429 respondents, 153 of them belong to age bracket of 51-60 years old; 227 or 52.5 are females with medical degree and are practicing as medical doctors for 6 to10 years and for 1-5 years as clients of the company. The respondents deemed that the effectiveness of promotional strategies of a pharmaceutical company in the province of Bulacan in terms of advertising the grand mean is “very effective”. In terms of personal selling the grand mean is “very effective”. In terms of database/direct marketing the grand mean is effective. In terms of sales promotion the grand mean is “very effective”. In terms of public-relation the grand mean is effective. In terms of online marketing the grand mean is “very effective”. There are significant differences on the level of effectiveness of the promotional strategies of a pharmaceutical company when they are grouped according to profile. When they are grouped according to sex, Personal Selling is tagged as ‘not significant’ which accepts the null hypothesis. When grouped according to sex, Database/Direct Marketing is significant which rejects the null hypothesis. When grouped by Highest Educational Attainment, Database/Direct Marketing is not significant which accepts the null hypothesis. When grouped by Medical Profession, Advertising is significant which rejects the null hypothesis. When grouped by Number of Years of Practice, Public relation is not significant which accepts the null hypothesis. When grouped by Number of Years as Client of the Company, Database/Direct Marketing is significant which rejects the null hypothesis. Based on the conclusions, below are the following recommendations offered: 1.) In terms of Advertising the company understudy may make their message more concise, specific and intentional so that it will create awareness about the product and later will translate to recommendation. Also since this are regulated medication the message should include notification and warnings on the possible side effects of the particular-drug, this is to discourage patients or end user to self-medicate and always consult physicians’ advice. 2.) In terms of Personal Selling the company understudy may craft a more tailor-fitted training program for their Medical Representative. This is to enable them to have a strong product knowledge that will empower them to explain and discuss thoroughly his/her product to a medical practitioner; this will enable them to understand and be able to recommend and use it properly for their patients care. 3.) In terms of Database/Direct Marketing the company understudy can only use text messaging, email or telemarketer in information dissemination and increasing awareness about the product, but not to expect that this will lead to recommendation or prescription, since medical practitioners still rely on face-to-face detailing and attending conventions and seminars regarding pharmaceutical innovations and updates which creates more trust and confidence in recommending the product. 4.) In terms of Sales Promotion, the company may not focus and rely on providing coupon alone especially if they are looking for sales tools that will increase sales for a longer period of time. 5.) In terms of Public Relation, the company can be more engaged in partnering with LGU and NGO in the society to bring about awareness and promote welfare. This will also increase their involvement, as well as exposure on the ground level that will enable them to really identify the needs of the people that can give them a firsthand look to better formulate strategies and gather ideas for innovation on how and what to provide in terms of healthcare services and products. 6.) In terms of Online Marketing, the company understudy could be more careful in disseminating information on social media since products offered are for health care and with restricted medicines. Misinformation can lead to inappropriate use and abuse of these products that can further lead to serious health hazard. 7.) Future researchers may want to improve this study by expanding the reach and scope of medical facilities and medical doctors to cover to validate further if same scenario is also happening to other areas. 8.) Policy maker may use the findings of this research to find a way to regulate and strengthen existing policy to avoid unethical practice for both medical practitioners and pharmaceutical company that will maintain healthy competitive environment on this industry.