Amgen's Bone-Loss Drug Faces Marketing Thesis

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Yahoo has just announced that it will be spending $100 million on a new ad campaign and political candidates spent hundreds of millions on advertising in the recent presidentail election.

So, marketing in the biotechnology is not really different from other industries. The terminology and players may be different, the basic fundamental marketing principles are the same. A company has to have value-based pricing, not pricing based on costs. and, companies must respond to negative statements about their products as well as spend huge amounts of money on advertising to win mind share.

Questions:

What are the differences between effective marketing strategies in biotechnology and other industries? Is the pricing strategy for biotechnology products different from other products?

Why Important:

It is essential to apply best-practice marketing principles and methods whenever possible to be successful.

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However, the uniqueness of biotechnology could require modification to this industry's requirements.

How to obtain:

I would obtain the answer to the first question by conducting research on the marketing issues confronting biotechnology companies and then researching other industries to determine if there are similar situations. To answer the second question, I would review drug prices for competitive drugs to help determine what the market is willing to pay......

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Latest APA Format (6th edition)

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"Amgen's Bone-Loss Drug Faces Marketing" (2009, October 20) Retrieved July 1, 2024, from
https://www.aceyourpaper.com/essays/amgen-bone-loss-drug-faces-marketing-18446

Latest MLA Format (8th edition)

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"Amgen's Bone-Loss Drug Faces Marketing" 20 October 2009. Web.1 July. 2024. <
https://www.aceyourpaper.com/essays/amgen-bone-loss-drug-faces-marketing-18446>

Latest Chicago Format (16th edition)

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"Amgen's Bone-Loss Drug Faces Marketing", 20 October 2009, Accessed.1 July. 2024,
https://www.aceyourpaper.com/essays/amgen-bone-loss-drug-faces-marketing-18446
   

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