Pharmaceutical Marketing and its New Social Media

Question: Discuss about the Pharmaceutical Marketing and its New Social Media. Answer: Introduction Pharmaceutical companies in the recent years focuses on new social media marketing tools namely Twitter, You Tube and Face Book in order to increase their revenue. In the pharmaceutical industry in Australia, use of social media has transformed that has resulted in two-dimensional conversations among consumers and pharmaceutical companies (Aalai Ottati, 2014). Social media marketing can also improve brand existence along with awareness and reducing the budget requirements. Social media marketing facilitates pharmaceutical companies to attain high competitive advantages and it explains their compliance to certain platforms those are dealing with several drawbacks. Pharmaceutical companies in Australia are dealing with numerous ethical and legal issues while implementing the social media marketing strategies that will be addressed through this research (Clark Melancon 2013). Evolution of Pharmaceutical Marketing Adi Grigore, (2015) stated that pharmaceutical industry is quite different from other industries. Considering that, medicines gave a huge impact on the quality of consumers lives, the regulators and the healthcare providers deal with the international system. The researchers also revealed that pharmaceutical companies encompassed direct sales model relied on prescribers that was associated with increased investment in the organizations product promotion. Affinito Mack, (2016) revealed that several stakeholders is observed to be hugely involved in the marketing and sales practice of the organizations. Sales representatives of the Australian pharmaceutical companies started indicating the advantages of the internet medium through employing several websites and mobile technologies that supports them to pass relevant information to the physicians. The pharmaceutical companies in Australia in comparing with several other industries those use direct-to-consumers marketing. Social Media Marketing Frameworks Utilization in Australian Pharmaceutical Industry According to Bakan, (2016) social media, development of social media has transformed the manner in which the pharmaceutical companies in Australia communicate in the community by means of attaining attention of hue consumer base through online medium. In contrast, Ball Mackert, (2013) stated that social media sites namely Twitter, Face book, MySpace, LinkedIn and Googlspace supports the pharmaceutical companies and the linked people for communicating within the great network of the consumers, large communities and linked multimedia content linked with the social media applications such as You Tube. For this reason, within pharmaceutical industry of Australia it was gathered that such capacity of consumers to share important information online that facilitates biggest opportunity remaining for marketers of the pharmaceutical companies or offering. Research Questions and Hypothesis The research questions those are to be answered in though investigating on Pharmaceutical Marketing and its New Social Media in Australia are mentioned under: Is it efficient to use social media marketing tools within marketing initiatives of pharmaceutical industries in Australia? Does use of social media marketing tools has great impact on consumer behavior in Australian pharmaceutical companies marketing? The research hypotheses those are to be tested through conducting research on Pharmaceutical Marketing and its New Social Media in Australia are mentioned under: H1: Social media marketing tools has a great impact on the marketing initiatives of the Australian pharmaceutical companies. H2: Social media marketing tools has positive impact on the consumer behavior in Australian pharmaceutical companies. Operational Definitions and Measurements The research background is simplified in order to make it easily attainable. The pharmaceutical companies can measure the social media marketing practices of the pharmaceutical companies in Australia in terms of its increased application of new social media marketing channels. For this reason, the researcher will employ such variables in order to attain suitable research findings (Beninger Ibara, 2016). The scope of this research is limited to the analysis of selected variables and the intensity to which the social media marketing practices are impacted based on such variables. The current research will take into consideration the Australian pharmaceutical companies that can help in revealing the trend of employing social media marketing tools in the industry. For this reason, some Australian pharmaceutical companies will be taken into account along with the selected variables for testing the research hypotheses. Research Methodologies: Data Collection and Analysis Sampling Techniques Sampling can be understood as the techniques by means of which specific respondents are chosen foe research from a large population. Probability sampling that is simple random sampling will be used in this research in order to conduct survey with 55 managers working in the pharmaceutical companies in Australia. Simple random sampling technique is employed in this study as it offers equal chance to the respondents for being selected in the survey. It was observed that conducting quantitative analysis needs bigger sample size for attaining and analyzing responses collected from the participants of the survey (Benito, 2015). Simple random sampling will enable in selecting extremely vital source of primary data to gather important information that is in accordance with research objectives. For this reason bigger sample, size is chosen in order to analyze responses collected from all the survey participants in a better manner. This is the reason for which 55 managers of pharmaceutical com panies in Australia to evaluate their survey responses. Data Analysis Method The collected data from the research on Pharmaceutical Marketing and its New Social Media in Australia will be evaluated through using numerous data analysis techniques. In consideration to this, suitable section of analysis techniques is deemed necessary to attain necessary and reliable research results. Moreover, this supports in maintaining transparency along with analyzing the collected data. Quantitative data those are collected will be evaluated and presented through tables and graphs that will further ease out the analysis technique for gathering relevant research data. Moreover, MS excel applications will be used in order to convert responses of participants into certain percentages for analyzing tends of respondents insights. Research Process Primary along with secondary data will be collected for analyzing Pharmaceutical Marketing and its New Social Media in Australia. Primary data for the recent research will be collected after conducting survey 55 managers working in the pharmaceutical companies in Australia. Secondary data in this study will be collected from several important journals, articles, prior research papers along with evaluation of history of several pharmaceutical companies in Australia. Quantitative data for the current study will be collected and analyzed in order to collect vital information and findings from research. In order to gather relevant primary data, the study will consider preparing a planned questionnaire that will include open as well as close-ended questionnaire (Chernaik Ford, 2014). Questionnaire survey will be most effective option for gathering important quantitative data for this enables gathering relevant data from large sample size. Expected Outcomes Resaerch on Pharmaceutical Marketing and its New Social Media in Australia will reveal the significance of social media marketing is efficiently signified that can be employed by the Australian pharmaceutical companies in relating to the Australian market. In addition to that, data evaluated secondary and primary data; the researcher will be capable to reveal the impact that social media marketing that can address the existence of the pharmaceutical companies (Bhardwaj Aggarwal, 2016). Primary data will majorly be gathered from the managers of the Australian pharmaceutical organizations that indicates high significance of online social media marketing. Secondary research will majorly indicate the significance of twitter and face book that can be used efficiently by the pharmaceutical organizations in order to enhance their online existence. Conclusion Based on significance of this research, it is recommended to use simple random sampling technique is employed in this study as it offers equal chance to the respondents for getting selected in the survey. It was observed that conducting quantitative analysis needs bigger sample size for attaining and analyzing responses collected from the participants of the survey. MS excel applications is recommended to use in order to convert responses of participants into certain percentages for analyzing tends of respondents insights. In order to gather relevant primary data, the study will consider preparing a planned questionnaire that will include open as well as close-ended questionnaire. References and Bibliograaphy Aalai, A. Ottati, V., (2014). The Mythical Framing Effect: Media Coverage and Public Opinion Regarding the Iraq War.Journal of Mass Communication Journalism,2014. Adi, A. Grigore, G., (2015). Communicating CSR on social media: The case of Pfizerss social media communications in Europe.Corporate social responsibility in the digital age, 143-165. Affinito, L. Mack, J., (2016).Socialize Your Patient Engagement Strategy: How Social Media and Mobile Apps Can Boost Health Outcomes. Routledge. Bakan, J., (2016). Social marketing: thoughts from an empathetic outsider.Journal of Marketing Management,32(11-12), 1183-1189. Ball, J. Mackert, M., 2013. Pharmaceutical advertising practitioners' approach to trust and emotion.International Journal of Pharmaceutical and Healthcare Marketing,7(3), 244-264. Beninger, P. Ibara, M.A., 2016. Pharmacovigilance and biomedical informatics: a model for future development.Clinical Therapeutics. Benito, B., 2015. Can Salaries Prevent Local Government Politicians from Corruption?.Review of Public Administration and Management,2015. Bhardwaj, M. Aggarwal, R., 2016. Examining the Impact of Social Media on Internet Banking.Arabian Journal of Business and Management Review. Braojos-Gomez, J., Benitez-Amado, J. Llorens-Montes, F.J., 2015. How do small firms learn to develop a social media competence?.International Journal of Information Management,35(4), 443-458. Bruhn, M., Schoenmueller, V. Schfer, D.B., 2012. Are social media replacing traditional media in terms of brand equity creation?.Management Research Review,35(9),770-790. Chernaik, T. Ford, S., 2014. # ThinkAgain: How regulator guidance can impact social media marketing.Journal of Digital Social Media Marketing,2(1), 40-47. Clark, M. Melancon, J., 2013. The influence of social media investment on relational outcomes: A relationship marketing perspective.International Journal of Marketing Studies,5(4), 132.