Formation advertising strategies of Ukrainian pharmaceutical companies with the use of imitative model-simulators
DOI:
https://doi.org/10.15549/jeecar.v6i1.274Keywords:
advertising strategy, pharmaceutical company, simulation modeling, model-simulator, situational simulation experiment.Abstract
The purpose of the article is to study the various processes in the development of advertising strategies of pharmaceutical companies, based on using tools in a multilevel simulation platform – AnyLogic. From this, the specifics of advertising companies in the pharmaceutical market are determined. The study takes into account the influence of various factors of the market environment on the functioning of pharmaceutical firms, their acceptance of specific advertising strategies, and forecasting the results of their implementation in uncertain conditions. The proposed imitative model-simulator is used to prepare advertising strategies for enterprises in the pharmaceutical industry. The performance of the model is displayed through the results of situational simulation experiments, using the leading Ukrainian Pharmaceutical Company OJSC "Farmak" as an example. The processes of carrying out experiments of different types and the possibilities of parametric adjustment to the experiments are demonstrated. The model is proposed to be used in the process of making strategic decisions and during operational monitoring of pharmaceutical products by an advertising company. Thanks to the modularity and sufficiency of the model, it is possible to customize it to specific industry enterprises.References
Ahmed, R. R., Vveinhardt, J., Streimikiene, D. & Awais, M. (2016). Mediating and marketing factors influence the prescription behavior of physicians: An empirical investigation. Amfiteatru Economic, ?18 (41), pp. 153-167.
AnyLogic (2018). Official web site. Retrieved April 23, 2018 from http://www.anylogic.ru/ (Original page written in Russian)
Arbeitsgemeinschaft Simulation (2018). Eine Arbeitsgemeinschaft im deutschsprachigen Raum zur Förderung und Weiterentwicklung von Modellbildung und Simulation in Grundlagen und Anwendung sowie zur Verbesserung der Kommunikation zwischen Theorie und Praxis. Retrieved November 11, 2018 from https://www.asim-gi.org/asim/.
Avagyan, V., Landsman, V. & Stremersch, S. (2017). Marketing models for the life sciences industry. International Series in Operations Research and Management Science, ?254, pp. 385-430. DOI: https://doi.org/10.1007/978-3-319-56941-3_13
Bardey, D., Bommier, A. & Jullien, B. (2010). Retail price regulation and innovation: Reference pricing in the pharmaceutical industry. Journal of Health Economics, ?29 (2), pp. 303-316. DOI: https://doi.org/10.1016/j.jhealeco.2009.11.015
Berezovskaia, E.A., & Plotnikov, C.A. (2015). Simulation modeling of the advertising campaign of the Internet enterprise in the AnyLogic environment. International Scientific Journal, ?9, pp. 86-90. (Original work written in Russian)
Biswas, K. & Ferdousy, U. K. (2016). Influence of Pharmaceutical Marketing on Prescription Behavior of Physicians: A Cross-sectional Study in Bangladesh. Journal of Accounting & Marketing, Vol. 5 (2), pp. 1-4. DOI: https://doi.org/10.4172/2168-9601.1000160
Costea, D., Carter, F., Chou, S.-Y. & King, A. (2012). Is Advertising Effective or Not? Evidence from the Pharmaceutical Market. NMIMS Management Review, Vol. 12, pp. 9-28.
EUROSIM (2018). Federation of European Simulation Societies. Retrieved November 12, 2018 from https://www.eurosim.info/eurosim/
Jain, G., Rakesh, S. & Chaturvedi, K. (2018). Online video advertisements’ effect on purchase intention: An exploratory study on youth. International Journal of e-Business Research, ? 14 (2), pp. 87-101. DOI: https://doi.org/10.4018/IJEBR.2018040106
Katalevskii, D.Y., Solodov, V.V, & Kravchenko, K.K. (2012). Modeling of consumer behavior. Artificial societies, ?7 (1/4), pp. 34-59. (Original work written in Russian)
Kalotra, A. (2014). Marketing strategies of different pharmaceutical companies. Journal of Drug Delivery & Therapeutics, ?4(2), pp. 64-71. DOI: https://doi.org/10.22270/jddt.v4i2.771
Kulshreshtha, K., Tripathi, V. & Bajpai, N. (2017). Impact of Brand Cues on Young Consumers’ Preference for Mobile Phones: A Conjoint Analysis and Simulation Modelling. Journal of Creative Communications, ? 12 (3), pp. 205-222. DOI: https://doi.org/10.1177/0973258617722422
Leeflang, P. S. H. & Wieringa, J. E. (2010). Modeling the effects of pharmaceutical marketing. Marketing Letters, ?21 (2), pp. 121-133. DOI: https://doi.org/10.1007/s11002-009-9092-3
Lewis, A. & Rao, J. M. (2015). The unfavorable economics of measuring the returns to advertising. The Quarterly Journal of Economics, pp. 1941–1973. DOI: https://doi.org/10.1093/qje/qjv023
Liu, R. (2016). Should Advertising Be Standardized Based on Specific Cultural Dimensions? - A Comparative Study of Ad Preference and Cultural Dimensions in the US and China. Journal of Eastern European and Central Asian Research, Vol. 3, ?1, pp. 1-7. DOI: https://doi.org/10.15549/jeecar.v3i1.115
Liu, R., Kramarczuk, R. & Megits, N. (2014). Consumers’ Perception on Standardized Advertizing and Localized Advertising of Multinational Companies in Smartphone Industry. Journal of Eastern European and Central Asian Research, Vol. 1, ?2, pp. 1-11. DOI: https://doi.org/10.15549/jeecar.v1i2.68
Pesikov, E. B. (2003). Estimation of efficiency and degree of marketing strategies risk of the enterprise on the simulation modeling basis. Proceedings from Simulation Modeling. The theory and practice. 1stAll-Russian Scientific and Practical Conference IMMOD-200,. ?2, pp. 110-115. (Original work written in Russian)
Pujari, N. M., Sachan, A. K., Kumari, P. & Dubey, P. (2016). Study of Consumer’s Pharmaceutical Buying Behavior Towards Prescription and Non-Prescription Drugs. Journal of Medical and Health Research, Vol. (01):03, pp. 10-18.
Sharma, R. & Kaur, B. (2018). Modeling the Elements and Effects of Global Viral Advertising Content: A Cross-cultural Framework. Vision, ?22 (1), pp. 1-10. DOI: https://doi.org/10.1177/0972262917750225
Simulation modeling. Theory and practice (2017). Eighth All-Russian Scientific and Practical Conference IMMOD-2017. Retrieved November 12, 2018 from http://simulation.su/static/ru-immod-2017.html (Original page written in Russian)
The 36th International Conference of the System Dynamics Society (2018). Proceedings from conference. Retrieved January 12, 2019 from https://www.systemdynamics.org/past-conference-2018
Winter Simulation Conference (2018). The premier international forum for disseminating recent advances in the field of system simulation. Retrieved November 01, 2018 from http://meetings2.informs.org/wordpress/wsc2018/
Zerbini, C., Luceri, B. & Vergura, D. (2017). Leveraging consumer's behaviour to promote generic drugs in Italy. Health Policy, ?121 (4), pp. 397-406. DOI: https://doi.org/10.1016/j.healthpol.2017.01.008
Downloads
Published
How to Cite
Issue
Section
License
The JEECAR journal allows the author(s) to hold the copyright and publishing rights of their own manuscript without restrictions.
This journal applies the Creative Attribution Common License to works we publish, and allows reuse and remixing of its content, in accordance with a CC-BY 4.0 license.
Authors are free to: Share — copy and redistribute the material in any medium or format and Adapt — remix, transform, and build upon the material for any purpose, even commercially.
Under the following terms: Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
No additional restrictions — The author may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
The JEECAR Journal is committed to the editorial principles of all aspects of publication ethics and publication malpractice as assigned by the Committee on Public Ethics.
