Marketing of the life sciences: A new framework and research agenda for a nascent field
Stremersch, Stefan Van Dyck, Walter
Stremersch, Stefan
Van Dyck, Walter
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2009
Journal
Journal of Marketing
Book
Publication Volume
73
Publication Issue
July
Publication Begin page
4
Publication End page
30
Publication NUmber of pages
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Abstract
Although marketing scholars often seek to contribute new knowledge that is applicable across industries, some industries have unique characteristics that require industry-specific knowledge development. The authors argue that this requirement applies to the life sciences industry, defined as companies in pharmaceuticals, biotechnology, and therapeutic medical devices. Marketers in the life sciences industry face novel and unique challenges along eight decision areas in therapy creation, therapy launch, and therapy promotion. In therapy creation, they face therapy pipeline optimization, innovation alliance formation, and therapy positioning decisions. In therapy launch, they face global market entry timing and key opinion leader selection decisions. Therapy promotion mostly revolves around sales force management, communication management, and stimulating patient compliance. The authors qualify these decision areas according to their practical importance and academic potential. The article derives preliminary generalizations and propositions from prior research and practice and steers further research in specific directions. The authors believe that marketing of the life sciences offers a fertile area for further research because, among other things, its potential impact transcends any problems typically investigated by marketing scholars.
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Keywords
Life Sciences, Marketing Theory, Research Agenda, Pharmaceutical, Biotechnology, Medical Device, Marketing, Sales