Back to Search
Start Over
Modeling Choice Behavior for New Pharmaceutical Products
- Source :
- Value in Health. 4:32-44
- Publication Year :
- 2001
- Publisher :
- Elsevier BV, 2001.
-
Abstract
- This paper presents a dynamic generalization of a model often used to aid marketing decisions relating to conventional products. The model uses stated-preference data in a random-utility framework to predict adoption rates for new pharmaceutical products. In addition, this paper employs a Markov model of patient learning in drug selection. While the simple learning rule presented here is only a rough approximation to reality, this model nevertheless systematically incorporates important features including learning and the influence of shifting preferences on market share. Despite its simplifications, the integrated framework of random-utility and product attribute updating presented here is capable of accommodating a variety of pharmaceutical marketing and development problems. This research demonstrates both the strengths of stated-preference market research and some of its shortcomings for pharmaceutical applications.
- Subjects :
- pharmaceutical marketing
consumer preference
Migraine Disorders
Decision Making
Bayesian updating
Markov model
Choice Behavior
Pharmaceutical marketing
Decision Support Techniques
Markov
Learning rule
Economics
Humans
Economics, Pharmaceutical
Market share
Marketing
choice
Marketing of Health Services
Analgesics
Health Services Needs and Demand
Models, Statistical
Markov chain
business.industry
Health Policy
Public Health, Environmental and Occupational Health
Bayes Theorem
Random-utility
Consumer Behavior
Markov Chains
Variety (cybernetics)
Product (business)
Market research
Risk analysis (engineering)
Health Services Research
Quality-Adjusted Life Years
business
Attitude to Health
Subjects
Details
- ISSN :
- 10983015
- Volume :
- 4
- Database :
- OpenAIRE
- Journal :
- Value in Health
- Accession number :
- edsair.doi.dedup.....e7addf0984630481a6abcec0bcb43259