Case Study On The Big Pharma's Marketing Practices INSIDE THE Pharmaceutical Industry
Facts And Assumptions
The term 'Big Pharma' is a terminology used to make reference to the pharmaceutical industry. The name relates to people's strong perception that it has played a dynamic role in the ever increasing complicity and costs of health care. There is a crisis in medical care sector and it is thought that the Pharmaceutical Companies have empty science and resorted to salesmanship. No reasonable progress happens to be being manufactured in the industry due to the negative perception created by unscrupulous marketing strategies being employed (Archie 2009). Doctors should suggest drugs to patients but are never likely to do advertising with their products and services.
In 1960s multinational companies came into existence focusing on interest of general public. Gradually there was a change observed in the trade patter when the multinational enterprises turn into factual multinational as the countries like Western and East Asian firms broadened in global market and also at the same time new cross countrywide strategic relationship of the businesses appeared (Jones and Geoffrey, 1996). The time of pre-World Battle II indicates the original stage of capital movement of European countries. You will discover three significant stages of International Business i. e. U. S and U. K dominated the global market during 1940's to 1960's, later the dominance of UK and U. S no more remained the same when the continental Europe and Japan came into existence.
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