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Putting Promotion in Perspective: Part I - A Strategic Overview

Published by: Decision Resources

Published: Jun. 30, 2005 - 21 Pages

The price of this report has been reduced due to its age. The original price was $1,900 for PDF E-mail From Publisher.

Table of Contents


Overview

Availability and Limitations of Audit Data

Promotional Spend—A Closer Look

Promotional Costs in Context

Conversancy with Promotional Costs Informs Strategic Decisions

An Industry Under Fire

Industry Outlook




Table 1. Expenditure on Audited Promotional Media in the United States, Year Ending March 2004

Table 2. Trends in Total Promotional Spend and Sales in the United States, 1996-2003

Table 3. Top Ten Products by U.S. Total Professional Spend, 2003

Table 4. Top Ten Pharmaceutical Companies by U.S. Promotional Dollars, 2004

Table 5. Cost Structure of the Pharmaceutical Industry




Figure 1. Mean Promotional spend by medium in the United States, 1996-2003

Figure 2. Promotional Expenditures in the US as a Percentage of US sales vs. Age of Product

Figure 3. Growth in US Sales and Promotion Expenditure, 1996-2003

Figure 4. Total Promotional Expenditure in the US as a Percentage of US Sales, 1996-2003

Abstract

Promotional expenditure is the principal area of cost for the pharmaceutical industry. Fully expressed, these costs far outweigh R&D expenditure, yet they tend to receive less attention from pharmaceutical and biotechnology companies than other cost areas and are prioritized far behind sales when companies gauge the factors that determine a product’s or project’s viability. In this report, the first of a two-part series, we present quantitative data to support a realistic perspective on promotional expenditure in the pharmaceutical industry, and we explore the implications that modifications of promotional spend would have for pharmaceutical and biotechnology companies. We explain how close attention to this critical area of cost can increase the accuracy of decision making regarding the commercial viability of products and suggest how the industry should view recent trends in promotional expenditure. We offer advice on how the role of promotion should be conveyed to those outside the industry.

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