Pharmaceutical Marketing: Directions for Customer Orientation

The study proposed to understand the factors that are crucial for patient satisfaction in the Pharmaceutical Sector on the grounds of upcoming trends such as targeted therapies, personalized medicines, etc. Critical variables that capture patient perceptions in satisfaction such as quality of medicines, quality of medication counseling, price affordability of medicine, availability of medicine and quality of medicine were included in a model. Trust with the firm and risk perceptions of customers were included as mediating and moderating variables respectively in the model. A Structural Equation Modeling (SEM) estimated the significance linkages. The study found that risk perceptions are significant and therefore trust perceptions need to improve to make customers more satisfied. The study concludes that customer satisfaction is a critical factor in pharmaceutical market and marketing strategies aligned with “SAVE” philosophies can help marketers significantly.