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Marketing and societal welfare: A multiple stakeholder approach

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  • Matear, Margaret
  • Dacin, Peter A.
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    Abstract

    This manuscript provides insights to help identify the nature, scope and domain of the business strategy-consumer behavior-societal welfare link, and ways to explore the trade-offs between individual and societal gains. In this manuscript, stakeholder theory serves as a lens to analyze these issues in the context of a case study of direct-to-consumer advertising (DTCA) for prescription drugs. The case study adds support to the (Wilkie and Moore, 1999) and (Wilkie and Moore, 2003) premise that the marketing system, unlike many other institutions, is thoroughly embedded in the routines and expectations of our society. Marketing, and in particular, advertising, not only reflects the assumptions and priorities of society, but also influences the way individuals and organizations understand and act upon contemporary social issues. A discussion of insights and implications emerging from the analysis suggests several potential areas for future research.

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    File URL: http://www.sciencedirect.com/science/article/B6V7S-4XK31VS-2/2/811f882cc7ce3bd54efbd9a27b59a631
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Business Research.

    Volume (Year): 63 (2010)
    Issue (Month): 11 (November)
    Pages: 1173-1178

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    Handle: RePEc:eee:jbrese:v:63:y:2010:i:11:p:1173-1178

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    Web page: http://www.elsevier.com/locate/jbusres

    Related research

    Keywords: Marketing and society Direct-to-consumer advertising Stakeholder relations Societal welfare Prescription drug marketing;

    References

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    1. Leffler, Keith B, 1981. "Persuasion or Information? The Economics of Prescription Drug Advertising," Journal of Law and Economics, University of Chicago Press, vol. 24(1), pages 45-74, April.
    2. Bjørnskov, Christian, 2006. "How Does Social Trust Affect Economic Growth?," Working Papers 06-2, University of Aarhus, Aarhus School of Business, Department of Economics.
    3. John E. Calfee & Clifford Winston & Randolph Stempski, 2002. "Direct-to-Consumer Advertising and the Demand for Cholesterol-Reducing Drugs," Journal of Law and Economics, University of Chicago Press, vol. 45(S2), pages 673-690.
    4. Rizzo, John A, 1999. "Advertising and Competition in the Ethical Pharmaceutical Industry: The Case of Antihypertensive Drugs," Journal of Law and Economics, University of Chicago Press, vol. 42(1), pages 89-116, April.
    5. Toshiaki Iizuka & Ginger Zhe Jin, 2005. "The Effect of Prescription Drug Advertising on Doctor Visits," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 14(3), pages 701-727, 09.
    6. Lichtenberg, Frank R, 1996. "Do (More and Better) Drugs Keep People Out of Hospitals?," American Economic Review, American Economic Association, vol. 86(2), pages 384-88, May.
    7. Brekke, Kurt R. & Kuhn, Michael, 2006. "Direct to consumer advertising in pharmaceutical markets," Journal of Health Economics, Elsevier, vol. 25(1), pages 102-130, January.
    8. Steven D. Findlay, 2001. "Direct-to-Consumer Promotion of Prescription Drugs: Economic Implications for Patients, Payers and Providers," PharmacoEconomics, Springer Healthcare | Adis, vol. 19(2), pages 109-119.
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