Organizational Buying Behavior in the Pharmaceutical Industry
Scientific Software Acquisition and its Marketing Implications
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Master's Thesis from the year 2021 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1.0, University of Birmingham, language: English, abstract: How should a scientific software vendor design its marketing activities to effectively boost its sales numbers taking into account the multifacetedness of organizational buying behavior in the pharmaceutical industry? The rapid technological advent along with the growing need to increase R&D efficiency in the pharmaceutical industry has brought scientific software into focus. For scientific software vendors to successf...
Master's Thesis from the year 2021 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1.0, University of Birmingham, language: English, abstract: How should a scientific software vendor design its marketing activities to effectively boost its sales numbers taking into account the multifacetedness of organizational buying behavior in the pharmaceutical industry? The rapid technological advent along with the growing need to increase R&D efficiency in the pharmaceutical industry has brought scientific software into focus. For scientific software vendors to successfully tap into that niche market, it is crucial to grasp the complexities of the dynamic decision-making involved in such buying processes. However, the body of organizational buying literature does not address this niche market. Hence, this qualitative interview study aims at providing insights into this process, its participants, and factors driving their decision-making. A thematic analysis reveals that, for investments involving low six-figure sums and below, the buying process generally progresses through six sequential phases eventually resulting in a purchase followed by a single post-purchase phase. What this study highlights is the importance of scientific users, in spite of their hierarchical level, in the decision-making process. The actual buying decision, which is made by consensus, is positively influenced by a set of three deciding factors: product features, soft factors, and economic factors. Based on these findings, scientific software vendors are encouraged to strive for becoming a thought leader by following a science-heavy content marketing strategy.
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