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Marketing Ethics: “Dollars for Docs”? The pharmaceutical industry is innovating at a dizzying pace, but it is getting more difficult for pharmaceutical sales reps to reach doctors to inform them of new or improved products. One option is to host educational seminars. However, many educational seminars are held at lavish restaurants or destinations underwritten by pharmaceutical companies, and doctors providing the education are paid consulting and speaking fees to the tune of more than $2 billion since 2009. In some cases, speakers are given scripts developed by the pharmaceutical company, leading to the criticism that this is company-scripted marketing and the distinguished speaker is merely a “paid parrot” selling drugs for the company. Critics also claim that such promotion results in needlessly increased prescriptions for expensive branded drugs that are no better than generic alternatives. Many drug makers are reducing expenditures for such product promotions because of the Physician Payment Sunshine Act, a provision of the Affordable Care Act of 2010. Pro Publica has a “Dollars for Docs” searchable database, and as part of the Sunshine Act, a searchable government Web site is available to the public to shed light on pharmaceutical sales practices. Is it wrong for pharmaceutical companies to explain the benefits of their products to physicians this way? Suggest other alternatives for reaching doctors to inform them of the benefits of a company’s products. Conduct research and report how other companies are marketing to doctors? What are your thoughts on advertising prescription medications?
Explain either Elaboration Likelihood Model, Balance Theory, or Social Judgment Theory to this cultural occurrence.
What is customer equity? How can a company increase its customer equity? Illustrate your answer using a theme park as an example.
Application: Internal equity and external competitiveness are two of the core elements of effective compensation plans.
Most managers in organizations develop strategic plans without realizing the importance of internal and external assessments and their implications on the four functions of management. Assume you are hired as a new manager and you want to improve ..
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The author of Nonprofit Finance for Hard Times asserts “organizational stability requires attention to building a robust engagement strategy focused on young"
How would you go about implementing the changes? Summarize the policies that need to be in place and how they would address the issue?
Analyze how the federal act supports and favors your business over large multinational organizations that build aircrafts e.g., Mitsubishi Aircraft Corporation.
What type of role does culture play currently within the organization? What current cultural components enable innovation to successfully occur?
The historical sales for a certain model of a single serve coffee maker at a specialty cookware store in units is:
Natalie operates a bakery in London. Because of her excellent customer service, the demand has increased 30% in the last year.
Which of the following is an effective strategy to resolve their differences without the need to compromise on each other’s stand.
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