analyzing rOI's for rx drugs to increase revenues
Results show reallocating funds to advertising in medical publications can improve revenues and ROIs
Arthur M. MahoneyBay Head Consulting Group
Prescription pharmaceutical marketers have a number of promotional tactics available to help generate brand awareness and prescriptions. Four primary promotional tactics alone accounted for an estimated $11 billion in promotional expenditures during 2000. Detailing, or sales calls (excluding samples), accounted for $6 billion of that amount, $2.5 billion was spent on direct-to-consumer advertising, just over $0.5 billion was allocated to advertising in medical publications, and $1.9 billion was for physician meetings...