Branding and Purchase Decision of Pharmaceutical Products: A Conceptual Model

Foo Pei Pei1, Zalfa Laili Hamzah1
Faculty of Business and Accountancy, University of Malaya, Malaysia
zalfa@um.edu.my, peipei_foo88@hotmail.com
 

Abstract: Pharmaceutical industry has been enjoying double digit growth in their annual sales in the past. Today, the pharmaceutical product loses exclusivity upon patent expiration with great sales erosion which make branding seems like a wise choice for pharmaceutical marketer to employ to extend their product's lifetime. In the olden days, healthcare professionals are the sole decision maker on the choice of medication for patients. However, the increased power of patients today and how this power has affected the pattern and behavior of healthcare professionals' prescription. Hence, it is interesting to find out whether or not branding plays a fundamental role in the pharmaceutical industry when it comes to selection of pharmaceutical products among patients. There have been couples of research done to understand the importance of branding in the pharmaceutical industry among healthcare professionals, however not much have dwell further to better comprehend the role of branding and the power it has on the patients. This study is to propose a conceptual model that integrating branding and marketing in understanding purchase decision of pharmaceutical products in pharmaceutical industry.

Keywords: Branding, Pharmaceutical, Purchase decision
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