USE OF PROMOTIONAL STRATEGIES IN A BID TO REPLACE OLDER MEDICINES WITH NEWER MEDICINES IN HOSPITALS

Abstract

Purpose: The purpose of this study is to explore and understand about the best promotional strategies imperative for replacement of older medicines with the new ones .Also to make critiques about how doctors may get better and easy comprehension about the new medicines to start using them. Methodology/ Sample: This study uses questionnaire completed by 150 physicians/respondents. These physicians are serving in public or private hospitals in Karachi, which are ultimate population of this dissertation. Since every doctor uses medicines for the patients and desired new medicines with required therapeutic action. Hence, census approach may be used for data collection. However, due to various constraints and limitations, the convenience & judgment non probability methods of sampling have been opted for selection of sample. The data analysis includes quantitative data analysis. A well - structured questionnaire has been used to acquire the data. Data has been integrated while using SPSS software package. Findings: The analysis and comparative results clearly suggest that there are various promotional strategies which have been assessed as suitable for promotion of new medicines in the place of older ones in Hospitals. However some strategies supported by literature as better to promote new medicines could not be ascertain from the data acquired and analyzed for this dissertation. Practical Implications: The outcomes of the research might help the Pharmaceutical Industry, Retail pharmacy outlets’ Businessmen, Physicians as well as other users of medicines. Pharmaceutical industry including marketers and physicians may adopt contemporary promotional strategies and achieve their desire objectives. They may maintain competitive advantage if the effective promotional strategies are adopted in accordance with findings of the study.