Marketing Strategy: Market Orientation: Is it Accepted as a 21st Century Marketing Strategy in the Pharmaceutical Industry? An Example: Spain

Abstract

Following two decades of theoretical contributions to the market orientation concept, today not only the essential details of its application but also its possible effects and benefits have been agreed upon. Numerous studies have confirmed the viability and advantages of a market orientation strategy in different sectors and markets. Thus it is surprising that, given the nature of the pharmaceutical industry, there is a relative absence of references on the application of these principles in this industry. The present study attempts to provide exploratory research into the reasons for this absence. For this purpose, a semi-structured telephone interview was carried out with the managing directors of 30 Spanish pharmaceutical companies. The surprising lack of knowledge of the concept and therefore its apparent lack of application in the pharmaceutical industry appears to run counter to the logic and necessary innovation-orientation in this industry.