December 23rd, 2012
Ethics and pharmaceutical marketing
The pharmaceutical industry has been facing challenges with respect to ethical marketing and promotional practices. The conflict of commercial interests with adherence to ethical practices has been a subject of much deliberation. While such debates tend to have a high degree of subjective and emotive content, it is also a concern for quality healthcare. This is a global phenomenon common to many countries. The degree of concern varies depending on the laws and regulations in various markets and overall operating environment. I would like to take this opportunity to discuss about the roles of ethics and social responsibilities in building marketing strategy in pharmaceutical industry and how those strategies have influence on pharmaceutical stakeholders’ need.
Roles of ethics and social responsibilities in building strategic marketing plan
To maintain their sustainable development, pharmaceutical companies must consider ethics and social responsibility as critical parts, inherent components of marketing strategy. Ethical and social responsibility criteria must be included as part of the strategic process in before-profit decisions rather than after-profit decisions in order to receive the maximum benefit, i.e. corporate profits. Pharmaceutical companies are committed to evolving their advertising and marketing practices to meet the needs of patients, physicians and other stakeholders in the healthcare system, better.
The Role of Ethics in strategic marketing plan
According to pharmaceutical analysts, pharmaceutical industry’s marketing tactics are usually grouped into five categories: physicians-targeted promotions, direct-to-customer advertising, unethical recruitment of physicians, researcher’s conflicts of interest, and data manipulation in clinical trial, according to the
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