Social and Behavioral Theories and Physician’s Prescription Behavior

The efficacy, safety, and cost of medication are the major concerns for a patient; thus, this research addresses factors that influence the physician’s prescription behavior. The objective of the undertaken study is the empirical testing of a novel conceptual model that was newly developed by the previous literature, which is based on behavioral and social theories. The considered model explains the association between marketing efforts, pharmacist factors, patient characteristics, and the physician’s decision to prescribe a drug. This unique model also includes the influence of cost and benefit ratio, drug characteristics, physician’s persistence, and trustworthiness as moderating variables. This model is useful for analyzing the prospects of marketing. We have collected 984 physicians’ responses from the urban centers of Pakistan through a structured questionnaire. We have used Structural equation modelling (SEM) based multivariate techniques such as exploratory and confirmatory factor analysis, and conditional process modelling to explore the direct and indirect relationship amongst the exogenous, moderating, and endogenous variables. The findings of the study demonstrated that marketing efforts, patient’s characteristics, and pharmacist factors have a positive and significant influence on the physician’s decision to prescribe medicines. The moderation analysis exhibited the significant effect of drug characteristics, cost–benefit ratio, physician’s persistence, and trustworthiness in a relationship between exogenous and endogenous variables. The results of the undertaken study are helpful for the marketers of the pharmaceutical industry to save wasteful marketing expenditures for the product portfolios, and measured variables may help to make meaningful marketing strategies for the physician’s prescription that provide optimum Returns on Investment (ROI) of their investments.