Return on investment implications for pharmaceutical promotions
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Discuss three potential problems facing a United States pharmaceutical manufacturer who decides to advertise in Europe. Are these problems different from those the manufacturer would encounter when advertising in Asia?
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Solution Summary
A return on investment implications for pharmaceutical promotions expenditures are examined.
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The Role of Marketing Mix Interactions:
There are certain potential problems which may face a United States pharmaceutical manufacturer who decides to advertise in Europe. The first problem is the fact that the pharmaceutical industry in both Europe and the United States are considered to be a unique regulatory item. In the United States, government agencies or the FDA require the pharmaceutical manufacturers to document their products. This is as a way of showing proof and efficacy of their commodities. The evidentiary showings necessitate pre market testing expenses from arising when interlinked with other costs such as the costs of development and the costs of research which further mandates a huge capital investment which are required to produce innovative drugs.
In Europe, the system does not allow the regulation of a single market for pharmaceuticals unlike in the United States which allows the open market to ...
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