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Analysing markets within the latent class approach: an application to the pharma sector

Analysing markets within the latent class approach: an application to the pharma sector In this paper, the latent class approach is applied to an analysis of the Italian pharmaceutical market. The application serves as an example of how fruitfully latent class methodology can be implemented in marketing research. The sector in question shows a high level of competitiveness, more limited economic budgets than years ago and, at the same time, expensive sales and promotion activities; in this context, it is very important to know the reference market to design appropriate marketing strategies. Taking into account the hierarchical structure of the data, this paper: (i) identifies groups of doctors with similar attitudes toward pharmaceutical representatives' work and (ii) verifies which aspects of promotional activity are significant to influence prescription quantities. Copyright © 2012 John Wiley & Sons, Ltd. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Applied Stochastic Models in Business and Industry Wiley

Analysing markets within the latent class approach: an application to the pharma sector

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References (34)

Publisher
Wiley
Copyright
Copyright © 2013 John Wiley & Sons, Ltd.
ISSN
1524-1904
eISSN
1526-4025
DOI
10.1002/asmb.1910
Publisher site
See Article on Publisher Site

Abstract

In this paper, the latent class approach is applied to an analysis of the Italian pharmaceutical market. The application serves as an example of how fruitfully latent class methodology can be implemented in marketing research. The sector in question shows a high level of competitiveness, more limited economic budgets than years ago and, at the same time, expensive sales and promotion activities; in this context, it is very important to know the reference market to design appropriate marketing strategies. Taking into account the hierarchical structure of the data, this paper: (i) identifies groups of doctors with similar attitudes toward pharmaceutical representatives' work and (ii) verifies which aspects of promotional activity are significant to influence prescription quantities. Copyright © 2012 John Wiley & Sons, Ltd.

Journal

Applied Stochastic Models in Business and IndustryWiley

Published: May 1, 2013

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