Physician perceived value as a mediating variable between marketing mix strategy and physician satisfaction

Abstract

Purpose Physician satisfaction (PHS) in the pharmaceutical business is a major issue that has created serious concerns for pharmaceutical companies and medical practitioners. The purpose of this paper is to explore the mediation effect of physician perceived value (PPV) on the relationship between marketing mix strategy (MMS) and PHS in the pharmaceutical industry in Yemen. Design/methodology/approach A non-probability purposive sample of 500 physicians was surveyed by using a self-administered questionnaire. Out of the 500 questionnaires, only 192 surveys were returned. Consequently, only 170 questionnaires were usable for the final analysis, with a 34 percent usable response rate. Several statistical techniques were performed including reliability, factor analysis, multiple regressions analysis, and hierarchical regressions to examine the mediation effect of the PPV. Findings The results showed that MMS elements, namely, product, price, promotion, and place, significantly contributed to PHS. The results also indicated that MMS elements, namely, price, place, and promotion, significantly contributed to PPV, whereas product showed an insignificant contribution. The PPV significantly contributed to PHS. Hierarchical regression results indicated that PPV partially mediated the relationship among MMS elements, namely, price, place, promotion, and PHS. Product variable was excluded in hierarchical analyses because the variable was insignificant to PPV. Originality/value This paper is the first to deal with perceived value as a mediating variable between elements of MMS (4Ps) for drug product and PHS in the context pharmaceutical business.

An Empirical Examination of Marketing Mix Elements and Customer Perceived Value in Retail Industry

“…Certain scholars had stated that providing customer value is one of the robust tools for creating and maintaining a competitive advantage (Kanagal, 2009;Lee & Overby, 2004). This study confirms that customer value can be created through effective adoption of marketing strategies that aim at providing greater benefits to end users (Bilington & Nie, 2009;Murshid, Mohaidin, Nee, & Fernando, 2016;Sangkaworn & Mujtaba). According to Lemon, Rust, and Zeithaml (2001), the convenience of a retail store minimizes the efforts of consumers for getting a certain product or service and this can influence their perceived value and overall purchase decisions.…”

“…Finally, the outcomes of this research confirmed that store location has a significant positive impact on customer perceived value. The result was confirmed by a number of researchers (Li & Green, 2011;Murshid et al, 2016) who found that store location had a significant effect on perceived value. This study has some limitations which would offer opportunities for future researches.…”

“…Certain studies (Li & Green, 2011;Murshid et al, 2016) also regarded price as the most important factor that affects customer-brand relationships which results from past experience by evaluating product quality and prices of different brands. Dodds, Monroe, and Grewal (1991) highlighted that when individuals perceive the prices of products and services of a certain brand as high in comparison to other sellers, they have a tendency to avoid purchasing from the same brand and become anxious about the quality of its offerings.…”

The Influence of Information, Brand, Medical Representatives and Sales Promotion on Physician Prescribing Decision

“…In recent times, the pharmaceutical market of Yemen is gradually becoming exposed to multinational drug companies. Drugs are increasingly being sold by different companies resemble each other, which leads to undue competition. In fact, each pharmaceutical firm utilises several marketing tools in an effort to persuade physicians to prescribe their drugs, frequently deviating from existing regulations.…”

How to develop brand attachment in various product categories?

“…Satisfaction is one of the important issues in the long-term success and efficiency of companies and is considered as a prerequisite or consequence of many marketing activities (Nam et al , 2011; Murshid et al , 2016). From a cognitive perspective, satisfaction is the result of customers’ assessment of their experiences (Zhao et al , 2012).…”