Internet Marketing Magazine Articles
From the actions described in the article below that drug companies take, what can you deduce?
about the market structure? Is it a perfectly-competitive market? Why or why not?
Article
Drug makers still pour hundreds of millions of dollars into slick TV ads each year, but the latest strategy for advertising new drugs is distinctly low tech: coupons.Pharmaceutical companies are offering free one-week or even one-month supplies of drugs to treat everything from diabetes to acid reflux. They hope to get patients to persuade their doctors to prescribe a new therapy or let them switch from an old drug. The drug makers are sending the coupons through the mail and in e-mails, and printing them in newspapers and magazines, including the New York Times, The Wall Street Journal and Health magazine. Many also can be found on the Internet at sites such as Viagra.com, Clarinex.com and Purplepill.com.
The market is monopolistically competitive. If the market were perfectly competitive the drug companies could sell as many prescriptions as they wanted at the market price. Also, even by lowering their price no company can attract all of another company’s customers, which is what would happen in a perfectly competitive market.
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Harvard Business Review on Marketing $6.95 The Harvard Business Review paperback series is designed to bring today’s managers and professionals the fundamental information they need to stay competitive in a fast-moving world. Here are the landmark ideas that have established the Harvard Business Review as required reading for ambitious businesspeople in organizations around the globe. Each volume contains a specially selected set of articl… |
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