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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References listed on IDEAS
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- 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.
- 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.
- Kurt R. Brekke & Michael Kuhn, 2005. "Direct to Consumer Advertising in Pharmaceutical Markets," CESifo Working Paper Series 1493, CESifo Group Munich.
- Kurt R Brekke & Michael Kuhn, . "Direct-to-Consumer Advertising in Pharmaceutical Markets," Discussion Papers 03/11, Department of Economics, University of York.
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- Davina C. Ling & Ernst R. Berndt & Margaret K. Kyle, 2002. "Deregulating Direct-to-Consumer Marketing of Prescription Drugs: Effects on Prescription and Over-the-Counter Product Sales," Journal of Law and Economics, University of Chicago Press, vol. 45(S2), pages 691-723.
- 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.
- 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.
- repec:spr:pharme:v:19:y:2001:i:2:p:109-119 is not listed on IDEAS
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