Marketing and societal welfare: A multiple stakeholder approach
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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- Kurt R. Brekke & Michael Kuhn, 2005. "Direct to Consumer Advertising in Pharmaceutical Markets," CESifo Working Paper Series 1493, CESifo Group Munich.
- Brekke, Kurt R. & Kuhn, Michael, 2003. "Direct-to-Consumer Advertising in Pharmaceutical Markets," Working Papers in Economics 05/03, University of Bergen, Department of Economics.
- Lichtenberg, Frank R, 1996. "Do (More and Better) Drugs Keep People Out of Hospitals?," American Economic Review, American Economic Association, vol. 86(2), pages 384-388, May.
- 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.
- 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. Full references (including those not matched with items on IDEAS)
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